BITCOIN DUMP AFTER SHORT SQUEEZE? (important btc prediction)

Naeem Al-Obaidi
10 min readJul 27, 2021


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00:00 summary
04:44 bitcoin analysis
09:05 altcoins
11:11 conclusions

Snipers, you have to see what’s happening
to the Cryptocurrency market this Monday

as Bitcoin has broke out to forty thousand
five hundred and fifty with today’s daily

Kindle high testing,
the one hundred day moving average exactly

as we predicted yesterday after breaking
up of thirty four thousand seven hundred

eighty eight, we saw the momentum
in the volume come in.

Not a coincidence, but those have
been tuned into the Snipers channel.

And now the question is,
is this going to continue to see sideways

price action and maintain
itself inside of this channel?

Or are we going to see a true breakout

beyond this 100 day moving average to test
the 200 day moving average,

where we also have confluence now
with home base,

which is the 20 week moving average
at forty four thousand eight hundred.

And we all know here,

if you’re above the 20 week moving
average, you’re in a bullish trend.

If you’re below the 20 week moving
average, you are not in a bullish trend.

So this is the real area that we want
to get to if we want to assume a bullish

continuation to possibly even see
new all time highs for Bitcoin.

But none of that’s going to be
on the table until the bulls can

rescue Bitcoin above forty
thousand US dollars more.

We have the 100 day moving average in this

channel resistance that we’ve been
monitoring over the last two months.

Today’s a very important day because we
have a lot of things that are morphing

into different patterns and that is
changing the storyline about what we’re

going to be monitoring
over the next few weeks.

The first thing is Bitcoin is finally
above the 50 day moving average.

So now we can start talking about what
a rescue operation is going to look like.

And I talked about this forty thousand

dollar level yesterday being the target
where we’re going to see resistance.

And if we look at what’s happening
to the Bitcoin CME futures chart,

notice how we do have a gap now at thirty
four thousand four hundred and twenty,

all the way to thirty two
thousand nine hundred and thirty.

We want to keep this in mind.

However, see any gaps over the last few

months have really not been too reliable
actually throughout this whole bull cycle.

For Bitcoin CME gaps have
not been too reliable.

You can see we’ve had many gaps
that have not been filled.

And so, you know, in traditional markets,

we like to say that gaps
always get filled.

But this is not too big of a puzzle piece,
but it is on the table.

We also want to look at the Bitcoin
perpetual contracts on finance yesterday

with a candle high of forty eight
thousand one hundred and sixty eight.

This is a scam which in my books, this is

an abnormal wick that wasn’t
reflected on spot exchanges.

For the most part,

that’s a big puzzle piece where we just
clearing shorts to see further downside.

I want to talk about something
that happened in twenty nineteen

for Bitcoin when Bitcoin
initially had a death cross.

In twenty nineteen we saw a forty percent
rally to the upside in three days.

It was an abnormal push to the upside.

This is what we’re going
to talk about today.

Notice how we had this drop where we came
below 10000 US dollars in October

of twenty nineteen and in three days we
saw a 40 percent push to the upside above

all the moving averages right
when there was a death cross.

And we recently had a Bitcoin death cross.

And then from there,

we just kind of slowly it away
the gains until seeing further lows.

And then we started
to continue further up.

We just formed one lower low and then
the march twenty twenty came.

Of course, this could have
been deemed abnormal activity.

We potentially could have just continued
further up after forming this lower low

after the forty percent pushed the upside.

So does that mean that Bitcoin right now
is following a similar pattern where it’s

pushing to the upside,
but it’s potentially going to shed away

some of these gains and then continue back
down to test thirty four thousand seven

hundred eighty eight where we have
the monthly and weekly open to then

potentially slowly come down to finally
discover the twenty six thousand to twenty

four thousand dollar level
before seeing continued upside.

This is something that’s
certainly on the table.

We’re going to talk about this happening.

And then, of course,
we’ll also cover the revolving parts

of the Cryptocurrency market,
like Bitcoin dominance,

other’s dominance in the total
Cryptocurrency market cap chart

and then Ethereum,
which leads a lot of the Altcoins.

You guys are watching the Snipers channel.
My name is Naeem.

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Snipers on this channel.

Let’s first look at the weekly chart.

We really want to dissect
what’s happening here.

So I talked about forty four thousand
eight hundred U.S. dollars yesterday as

a potential upside target if we can
get above thirty four thousand seven.

But I also said that the first area

of resistance is going to come
at this forty thousand dollar level.

We know there’s a lot of people that got

into Bitcoin above 40 thousand or forty
thousand that have been

at a loss for quite some time now
that most likely wanted to exit their

positions when we saw
the price action get here.

And that’s why we saw rejection at 40000.

So far, we haven’t yet come
to the 20 week moving average.

That’s totally fine.

This is why we can now talk about
the scenario more in-depth.

We go into the daily timeframe where
everything from the smaller time frames

into the larger time frames notice how
Bitcoin whipped to this one hundred day

moving average and the forty
thousand dollar level.

And so far we have a daily with forty
two minutes left to close.

We do have a bearish tale.

This is something we have
to keep on the table.

That this is a bearish tale.

Daily Candles closing right now
on the 4-hour chart.

If we were to look at where the volume is

at Noticia, we didn’t see spectacular
volume in this push to the upside.

And we came up and we immediately got
rejected here at the channel resistance.

So here’s what I’m watching at this point.

There are a few ways this
is going to play out.

If it’s going to play out the way that it
played out in twenty nineteen,

we’re going to at some point come back
down to thirty four thousand seven hundred

eighty eight to test the monthly
and weekly open, along with the extremely

important level here at this point,
because we finally saw

a push of almost 40 percent, literally
thirty nine point three two percent.

If Bitcoin continues below thirty four
thousand seven hundred eighty at this

point, I believe there is
a potential we will see further

price levels to the downside at some point

or another in the next
few weeks or months.

But here’s where this could change

if Bitcoin maintains thirty four thousand
seven hundred eighty,

especially if it maintains thirty six
thousand five hundred and

definitely if it maintains thirty eight
thousand, we are seeing strength

that could potentially retest the forty
thousand dollar level

in the next few days to continue
to that forty four thousand eight hundred

dollar level could happen
at any one of these levels.

But we just want to know that the real

level that needs to hold is thirty four
thousand seven hundred and eighty.

At this point, the CME gaps
actually are below this level.

So that’s some food for thought.

But I don’t believe that if Bitcoin

has a garden variety retest of thirty four
thousand seven or eight and it does break

that, it’s going to just
continue further up.

I think that if this breaks one more time,
we’re back inside of this range.

We already saw the 40 percent push.

There’s a very high chance we see one more
lower, low form and that’s on the table.

That’s what I’m monitoring right now when

it comes to the new schematics
that are forming after this breakout.

And it’s crazy because

literally within hours after making
my video yesterday, I said there was going

to be a Bitcoin move if we broke thirty
four thousand seven hundred eighty eight,

the momentum was going to come
in because we’re so much conflict.

And guess what?
That’s exactly what happened.

So congratulations for those that have
been tuned into the Snipers channel.

If you’re

not already subscribed to Channel,
remember to subscribe to the channel.

We want one 100000
Snipers on this channel.

So let’s look at the
Bitcoin USDOT Perpetual Contracts chart.

Why did we see WEC all the way up
to the forty eight thousand

dollars level when SPY exchanges
weren’t reflecting that?

I’d love to hear your thoughts
in the comments below.

To me, this says that we potentially could
have just been clearing shorts

to potentially see further
downside that’s on the table.

We have to keep that in mind.

Then we have the Bitcoin CME Gepps.

Now, how are the revolving
parts reacting to this push?

Well, interestingly enough,
as soon as we started talking about

Bitcoin dominants potentially seeing
a reversal here soon to test the 20 week

moving average, we’re now inside
of this ascending triangle.

And it really looks like Bitcoin has
the chance to test this fifty week moving

average or this twenty week moving
average, which is home base.

This is going to be something we want
to monitor over the next few days

into the next few weeks,
because if we break above now,

we can talk about potential rescue
operation for Bitcoin dominants.

This would also change

the mindset with Altcoins because it
doesn’t mean occurences is going to be

over, but it does mean that
it might not be the.

Highest performing asset in the market,
because Bitcoin could still outperform

some of these assets if it
starts to increase in dominance.

And sometimes when there’s a lot of fear
in the market,

you need these type of relief rallies
for Bitcoin dominance to bring back

confidence of the storage of value
in the Cryptocurrency market.

This is the alpha dog
and the Alpha Assa of the market.

So it’s never a bad thing for Bitcoin
dominance to see strength.

I’d love to see this 20 week moving
average get tested and broken.

That would be really cool.
We can start monitoring what

Bitcoin Dominants is planning to do if
it’s going to be a true reversal or not.

So I think that’s the big
thing to monitor.

But others dominance is
not becoming bearish yet.

We’re still having a cup of coffee
this 200 day moving average.

That’s a positive thing.

So we want to monitor that along
with Bitcoin dominance and the total

Cryptocurrency market wicking into the 200
day moving average,

around one point six Trillion,
but back down below one point five

Trillion now
close to the monthly and weekly open,

that doesn’t look too good. So really,
the question is, where’s the volume at?


The theory of Bitcoin Char is holding
this previous weekly open right now.

So we want to monitor this.

If we see continuation to the downside,

fifty three thousand five hundred is next,
that could potentially garner more

opportunities Ethereum
to the US dollar price.

Tried to get above the monthly open.

Didn’t really get there.

Only Wickett above it now
on this daily candle.

So that’s some food for thought.

Some very interesting
things unfolding right now.

And a lot of this has to do
with what’s happening to DXY.

And I want to really emphasize right now

that the DXY is testing ninety
two point six right now.

There’s a reason that body this Candles
maintaining this,

if this is a garden variety retest
to continue further up,

that’s the worst case scenario
that we want to see for Bitcoin.

The best case scenario is going to be if

this ninety nineteen point six two level
breaks in the DXY comes back down to just

continue to be calm inside of this channel
range instead of this channel range.

That’s what we want to see

for the potential for Bitcoin
to continue further up.

But if we see the scenario
of this channel being,

you know, the playfield that the DXY want
to play, and that could certainly hurt

the Cryptocurrency market and the Gold
to Bitcoin chart we’ve been monitoring.

Check this out.

Had this ascending trial on this cup

and handle formation,
but now it’s breaking down this Candles

today muchin below the Candles
low of this initial handle.

This could be invalidating the cup

and handle pattern and we could be seeing
Bitcoin regain itself against Gold.

That’s some good food for thought there
when it comes to where you want

to allocate some of your positions
that you’re potentially trying to hedge

away from traditional markets like we
know institutions are going to be doing.

And this week, traditional
markets are, of course, open.

So we’re going to monitor the S&P 500

a little bit further as we head
into the depth of this week.

But for now, the major levels for Bitcoin

thirty eight thousand thirty four thousand
seven hundred and eighty eight,

I think we get back above thirty eight
thousand 4-hour an hourly Candles.

There’s a high chance we could test forty
four thousand eight hundred because

that could put us back
towards this resistance.

You knock on the door for a second time,

the likelihood of that breaking
becomes highly likely.

But if we stay below thirty thousand,
this daily candle closing in thirty five

minutes, we have this bearish tale
that we have to keep on the table.

And we know that the next area that will

potentially come in test is this thirty
four thousand seven hundred other level.

And this is going to give us the make or
break moment because if we break below

this, we also break back below
the fifty day moving average.

That’s not what we want to see.

We really want to see this floor hold.

And with that, I appreciate each and every
one of you Snipers tune into the channel.

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Mark DXY says best technical analysis.
Thanks, Naeem.

Please don’t be tired on what
you’re doing right now.

God bless you more, brother.

Well, you guys keep me motivated.

I couldn’t do this without you and I
appreciate each and every one of you

Snipers tuned into the channel once
again until next time Snipers out.



Naeem Al-Obaidi

Traders Profit Club (SnipersTube) is a community dedicated to creating knowledgeable & profitable traders in all markets.