BITCOIN BULLS READY TO FIGHT BACK THIS WEEKEND? (good news )
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Timestamps!
00:00 video summary
02:57 bitcoin prediction
04:59 ethereum analysis
06:20 altcoins
07:04 traditional markets
08:10 conclusions
Snipers, you have to see what’s happening
to the Cryptocurrency market this Friday
as we head into the weekend where
the markets are the most manipulated
due to see me futures being closed.
Bitcoin is still below thirty five
thousand U.S. dollars where we have this
monthly and weekly open and now
the 50 day moving average.
But more importantly,
we’re getting some hints today as to where
institutions are hedging their bets right
now as the DXY is closing the week right
now with a bearish tale below the monthly
and weekly open causing the S&P 500 to see
new all time highs today,
even though we saw this extremely
bearish Candles yesterday.
Now we’re back to new all time highs.
This is a major puzzle piece on the table
as we head into a manipulated
Cryptocurrency market
on Saturday and Sunday.
Is this a hint that Bitcoin could
potentially see volume coming out
of nowhere and further upside because
the traditional markets are showing
strength right now,
the DXY is pushing down and the VIX is now
down 15 percent, as we
talked about yesterday.
These are all really good signs
heading into the weekend.
Something that we weren’t necessarily
expecting happened so fast.
But now that the DXY is pushing down,
is Bitcoin going to come up and test this
thirty four thousand seven hundred and
eighty dollars level during the weekend?
That’s on the table.
More importantly,
we’re going to talk about what’s happening
to the revolving parts
of the Cryptocurrency market,
like Bitcoin dominance,
other’s dominance in the total
Cryptocurrency market cap chart,
Ethereum being a leading indicator
for a lot of these revolving parts.
Yes, we are seeing this downside,
but we’re still holding above the 200 day
moving average in 1980,
which is a major support level.
Or are we going to see a Ethereum and
Altcoins show strength into this weekend?
A Bitcoin is able to get
to thirty five thousand.
That’s definitely on the table.
Just being the umpire.
Remember others dominance,
the most bullish revolving part in
the market above this multi-year support.
But more importantly,
still, at the 20 week moving average
at home base, which you can see here,
this is a major puzzle piece and something
that we’ve predicted here
in the Snipers Cardano.
We knew that the start of Altcoin season
here in January was going to be strong.
Then we saw the fear come in.
The predictability of us coming down to
test a major support level was very high.
And that’s exactly what’s happening.
And we’re not seeing weakness here.
We’re not breaking down.
That tells me we’re going to be
seeing strength year with Altcoins.
I’m going to talk about
what I’m watching with Ethereum to Bitcoin
chart, because that will be
the leading indicator for Altcoins.
You guys are watching the Snipers Cardano.
My name is Naeem Alobaidi on a Friday.
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Let’s talk about what’s
happening to Bitcoin here.
Yes, we know thirty four thousand seven
hundred eighty eight is important.
So here’s what I’m watching coming
into the weekend, because
that’s really what matters.
If we come into the weekend
at thirty four thousand seven hundred
and eighty eight starting to test this
area, this is a big deal because this
would be the first time that we’re coming
close to this fifty day moving average.
We’ve never tested it throughout
this whole consolidation.
The Bears have defended
the fifty day moving average.
That would be the fighting chance
that we’ll have is if we get to this
fifty moving average and we get above it.
Now, we have this previous recouping
at thirty six thousand six hundred.
That to me is the confirmation that we’re
going to get back to forty
thousand US dollars.
So that’s what I’m watching for the upside
when it comes to Bitcoin heading
into the weekend because traditional
markets are closing strong.
So let’s address it right now.
If we stay below thirty five thousand,
you guys know that’s
an extreme concern for me because we saw
the volume profile yesterday for those
that were tuned into the Snipers channel
and there’s no volume here
below thirty thousand.
So staying below thirty thousand,
that’s going to be extremely bearish
coming into the weekend, staying low.
Thirty five thousand.
To me, that means that Altcoins are
probably going to be the performers
because we could theoretically say there’s
a range here up to this
thirty thousand dollar level.
What a Altcoins do when Bitcoin
consolidate they tend
to outperform Bitcoin.
So below thirty five thousand.
I think Altcoins are the plate.
We get above thirty five thousand
Bitcoin might be the play.
This might assume that we could see some
Bitcoin dominance strength,
but staying below thirty five thousand,
I definitely don’t believe Bitcoin
dominance is going to be showing strength.
I think that the best Kitchener’s Altcoins
will show strength if we
stay above thirty thousand.
Now we see the volume come
down to the downside then.
Now we have this twenty thousand dollars
level, of course, that we’ve been talking
about over the last few weeks
and the potential of Elwick
down to twenty thousand.
We know there’s a lot of volume
at twenty four thousand.
So that’s what I’m watching
for the down side.
Now let’s talk about
Altcoins because if Bitcoin.
Does stay below thirty five thousand
and above thirty thousand,
we can assume Altcoins are going to be
showing strength Ethereum
leading the pack here,
staying above the 200 day moving average.
That’s extremely positive.
If we are staying above 1980,
in my opinion, Ethereum is starting to
build momentum to get to three thousand.
That’s what I think.
And the reason I say that is because 1980
now is confluence with its
200 day moving average.
We stay above that 200 day moving average.
That’s extremely bullish.
The theory of Bitcoin chart confirming
this above this two hundred
and one day moving average.
Of course, even at this fifty moving
average, we’re having a cup of coffee.
That’s a good thing.
Sixty five thousand Satoshi.
We stay at that area that’s
showing strength for Ethereum.
At some point or another,
we could expect to move to 86000 Satoshi.
That confirms the three
thousand dollar target.
And even beyond that, so we get below
sixty five thousand Cistercians.
I think this would be the scenario if we
see some abnormal cell side pressure into
the weekend, then there’s that potential.
We come down from another low here.
That’s still fine for me because
in the macro this is a bull flag, right?
So it doesn’t really matter if we come
down or up here with that theory.
Really, it’s just a matter
of patience and time.
And I think that’s really the blueprint
for other Altcoins as well,
because we’re sitting this 200 day moving
average, having a cup of coffee, Bitcoin
moves up, up thirty five thousand.
I think this will break out above
the 200 day moving average.
We see that sell side pressure.
We have a test back at that one trillion
dollar level that’s on the table.
We’re most likely going
to see allocations from
bitcoins move into more fundamentally
sound coins if that’s the case right.
If we start to see
more fear come into the market,
the fear and greed index is
quite high right now still.
So keep that in mind today.
Specifically, it’s at twenty,
which is pretty high.
So others dominance,
we’re going to say it’s bullish if we
stay above twelve percent dominance.
That, in my opinion,
is assuming we’re going to see
that Lower High or that Higher High form
Bitcoin dominants confirming that below
the weekly monthly open right now.
So traditional markets are closing
DXY out of nowhere.
Bearish tell back below
the monthly weekly open.
I told you guys that’s the first scenario.
We stay in this range.
That’s what we want.
We don’t want to break out from ninety two
point six to and if we break down
from ninety one point ninety, that would
actually be a good thing for assets.
But we stay in this range that’s
preferred, that assumes a calm
environment,
and that means that we’ll see continued
price discovery with other markets.
And that’s why the S&P.
Five hundred to a new all time highs
despite the bearish
pressure we saw yesterday.
That’s a very nice.
Way to come into the weekend when it comes
to the Cryptocurrency market,
bringing the VIX down 15 percent and then
U.S. oil in reaction to this,
also coming back,
trying to come up to test US Weekly open,
that’s good for commodities.
Commodities being a leading indicator.
We look like here, you know,
we could potentially be seeing a top form
for us oil that could be a top for other
commodities like gold and silver
coming here in the short term.
But I think we’re still seeing strength.
I don’t think it’s a bad idea
to be in gold or silver right now.
I think that it’s totally fine, especially
with the uncertainty in the market.
So I hope you enjoyed
today’s analysis, Snipers.
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Thank you all for tuning
into the Snipers channel today.
And we’re heading into a weekend.
That’s when it’s the most manipulated.
I can’t wait to see how the market reacts.
Let’s see if we can get that thirty
five thousand dollar level.
We stay between thirty five and thirty
like we have been Altcoins there.
The play and with that,
thank you all for tuning in today.
Until next time Snipers out.
