BITCOIN DUMP INCOMING? BIG WARNING (and ethereum prediction)
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https://youtu.be/j-xhUSTDVxE (Charles Hoskinson Interview)
00:00 video summary
10:23 bitcoin analysis
13:15 traditional markets
Snipers, you have to see what’s happening
to the Bitcoin price today is the trick,
trap and frustrate crew have clocked
into their shift exactly on time
right before the weekend where
the Cryptocurrency market is the most
manipulated due to CME
futures markets being closed.
We are seeing a rejection of thirty four
thousand seven hundred eighty eight
back inside of the range of thirty five
thousand and twenty four thousand US
dollars, with our only hope in sight
at twenty six thousand US dollars to see
further volume, I want to talk about what
we’re walking into when it comes
to the weekend where the Cryptocurrency
market is the most manipulated because
there are already footprints of the trick,
trap and frustrate crew.
Right now on the chart,
notice how the initial test of thirty four
thousand seven hundred and eighty
eight not a coincidence.
You get this bullish tale,
this bullish hourly candle.
And within one hour,
the next Candles bearish tale rejection
of the weekly open, bearish body here.
And then we continue down right trick trap
and frustrate crew back to back Candles
here, full effect coming into the weekend.
I want to talk about what we’re going
to be watching now, because
to be quite honest with you,
throughout this consolidation that Bitcoin
has had, we have had an immense amount
of long and short opportunities.
And when Bitcoin initially tested thirty
thousand for those in our Discord,
I sent out my swing trade.
We entered in at thirty thousand nine
hundred on the 19th of May,
a swing trade for Bitcoin low risk.
Within twenty four hours we saw
thirty percent upside on that trade.
That’s how you enter a swing trade.
And since that day all we’ve done is long
Altcoins and Bitcoin and we’ve had
an immense month of great trades and a lot
of opportunity has been squeezed
out of this consolidation period.
The trick trap and frustrate crew will
always get the last laugh,
and I’m here today for you, Snipers,
to prevent you from tripping.
At the last mile, so remember,
as we talk about today’s analysis,
the thirty five thousand dollar level
and twenty four thousand
dollars level is a range.
And I’ve said this for the last month,
when we’re playing a game inside
of a range this large,
it’s a dangerous game to play.
And so to me,
what’s happening is extremely entertaining
because when it comes to the downside
scenario and then I’m going to go
into the upside scenario,
we’ll talk about Altcoins,
because we’re also seeing a shift
in capital from coins that are less
fundamentally sound into coins that are
more fundamentally sound like Cardno.
And we’re seeing strength that those
Altcoins I’m going to talk about
that and the reallocation I’m expecting
in the market when it comes to where
the capital is really going to flow.
But for the downside scenario on Bitcoin
at this point,
since I’ve already got my long term
interest at that thirty thousand nine
hundred dollars level,
I got that on the 19th of May for those
in the Discord you got it to uncaught
that it Bitcoin comes down at this point.
Here’s what I’m waiting for.
There has to be a high volume move and.
At this point, there’s only really going
to be volume at this twenty five thousand
eight hundred and eighty dollars level
and then of course,
the twenty three thousand seven hundred
ninety five dollars level to twenty
four thousand dollars level.
Whatever analysts that you guys watch,
they’re all saying that’s going
to be the potential bottom.
And then, of course, we all know
the previous all time high,
the twenty thousand dollar gap here
between twenty four thousand twenty
thousand is also on the table.
If you’re tuned to the Snipers channel,
we don’t just give you
one scenario we give you.
The least severe scenario
and the most severe scenario, and so
if we’re going to see further downside,
I’m totally fine with that.
We’ve already taken part
in this consolidation.
We’ve had a blast.
And at this point,
we’ve seen the symmetrical triangle fill
once we had a bull trap,
broke out resistance field.
And then we saw the bear
trap broke down field.
Then we saw another bull
trap and then a bear trap.
And then we came out,
broke out of the larger triangle, failed.
So at this point,
we’ve played our cards.
The cards on our in our
hands are running out.
We have to be aware of that as traders
were testing this level.
A fourth time now,
the more you knock on a door,
the more likely it is to break
heading into a weekend.
Here’s what I’m watching for the downside.
If I’m going to be entering into a long
position, I want to see high volume.
And the reason I say that is
I’m also aware of the fact that on the six
hour chart, institutions were willing
to show that there’s a lot
of volume below thirty thousand.
And you can see on the recent dip
down to test
that thirty thousand to twenty thousand
dollar range, we saw more volume come in.
But the institutions this time said
on the 4-hour chart,
we don’t mind in printing this.
And for those that watched our video
yesterday and the week before,
I’ve been talking about institutions like
to do they don’t imprint themselves
on certain time frames that are more
popular, like the 240
minute or the 4-hour chart.
And so initially they made it seem
like there was a lot of cell pressure.
Nobody knew there were buyers.
Now people know there are buyers.
Is this the trick, trap and frustrate crew
coming in doing what they usually do?
Traders think that this is where
the volumes at the intern through their
positions, they think this is it.
And then they pull the rug
that’s on the table for the weekend.
And I’m only going to enter a position if
we see high volume,
because here’s the thing.
We know there’s volume under
this level at thirty thousand.
And so therefore,
in order for a real move to occur,
we’re going to have to see a lot of sell
volume come in and breach this level.
And I think since we’ve already seen
the consolidation, we’re going
to see another transitionary phase.
And if you don’t know what a transitionary
phase for those that are new
to the channel, it’s when we’re seeing
the real transitions in price.
And so you never want to be
caught in a trade here.
Of course, if you have a short,
open or long open during these moves
that you’ve already taken profits on,
but you’ve held a smaller position,
that’s when these moves come in handy
because it really starts to pump those
profits up that you just kind
of held that break even.
for the downside scenario,
I’m not going to be fooled if we’re
staying below thirty five thousand.
I’m waiting for high volume to come in.
I’m waiting to see the next 4-hour push
the real trick trap and frustrate
who coming in on a popular chart where
people think there’s volume here and they
bring it down one more
with volume and that volume.
Of course, we know there’s
a lot of upside pressure here
that would typically result in a wick.
And so am I saying that
I’m only expecting a quick.
I don’t think that we’re going to come
down to the twenty six thousand dollars
level without a lot of volume
and a lot of price action.
And so this is where I’m going
to be watching for those entries.
But when it comes to the upside,
here’s what I like about this,
and this is why it’s entertaining to me.
I’ll just wait for thirty four thousand
seven hundred eighty eight if if you if
they want to play below this range,
I’m totally fine with that.
I’m not going to get fooled here.
And so I want to talk about what to watch
for to get a confirmation of this move
that we’re talking about right now,
because so far we’re at thirty
two thousand dollars support.
You know, of course,
we’re going to see a 4-hour,
Candles test it and then it’s going to
probably come back up and tested again.
So we don’t know how long
this is going to elongate.
I’m going to talk about that.
But then we’ll have to discuss what’s
happening to Altcoins, of course,
because we’re also seeing a shift
in capital when it comes to Altcoins,
because notice how this Ethereum
to Bitcoin chart on the one minute
is showing signs of accumulation
with an institutional type of capital.
Look, these large buy orders just come in
without sellers that are really adding up,
you know, yeah, we had one push of sell,
but then look at all this
by pressure that came in.
So it’s obvious to us right now
that people are exchanging a lot of their
Bitcoin for Ethereum, you know,
and this is a one minute charge.
So, of course, you’re going to see
a lot of high and low volume moves.
But there’s certainly a transition
occurring for the three to Bitcoin 4-hour.
We’ve been waiting for strong opportunity
to get a nice long position in with this
Ethereum to Bitcoin chart forming this
bullish flag about to come and test this
fifty three thousand five hundred Satoshi
area where we could with just below that.
Is that a prime opportunity to get
into Ethereum before Ethereum 2.0 comes
out and it switches to proof of stake?
No more energy concerns,
devices already built on a Ethereum.
I don’t know.
We’re not going to talk about
a flippity on this channel.
We don’t need to open that door.
But what I am talking about is,
are we going to see the fundamentally
sound Altcoins like Cordona in Ethereum
seem more bullish omentum.
If Bitcoin does see this next push the
downside and an immediate push back up.
We want to monitor some of these Altcoins.
I’m monitoring this Ethereum chart.
And when it comes to Ethereum the US
dollar price and the correlation, I
wouldn’t mind any entry’s now below 1716
down to fourteen.
That’s another range we have here,
and percentage wise,
we’re looking at almost 20 percent range
there of some nice
possible entries in a Ethereum if we
start to see some downside in Bitcoin.
So I want to talk about this.
We’re going to look at the total
Cryptocurrency market cap chart
and then the week is closing.
Of course, we’re heading into a very
manipulated time in the Cryptocurrency
markets because of the traditional
markets being closed.
We have to address how the traditional
markets are closing because
the environment in traditional markets are
actually doing very well on a Friday
heading into a Cryptocurrency weekend.
It’s exactly what I want to see,
stability and control.
And so we’ll talk about that.
You guys are watching the Snipers channel.
My name is Naeem Alobaidi.
Remember to smash the like one
for the YouTube algorithm.
I want to first talk about this Bitcoin
scenario and conformations
we’re going to be looking for.
So so far on the hourly chart,
we could expect
Bitcoin to have a cup of coffee below
thirty four thousand seven hundred
and eighty eight and around
the thirty two thousand dollar range.
So there’s obviously going
to be some consolidation here.
But what we’re really waiting
for the next volume move.
And at this point,
if it comes to the downside,
I believe that the twenty five thousand
eight hundred and eighty dollars
level is going to be the first area.
We’ll start to see the door
open for more volume.
And if we’re only going to push further
down, it’s going to have
to be a fast move.
I think so.
I think there’s going to be a lot
of pressure built
between this twenty thousand dollar range,
the twenty four thousand dollar range.
And if we see a downside move,
this could be a very nice place to be
entering into Altcoins like
a Ethereum Cordano, of course,
entering into your Bitcoin positions.
If we start to see movement back up
to thirty four thousand seven hundred
then we just need to get above it.
And if we get above it,
we can get above the weekly open
at thirty five thousand six hundred.
I talked about yesterday.
Then things start to become a lot calmer.
But every time we reject and come back
down, that’s when we starting
to see the fear in the market.
So we need to start addressing
what’s happening here.
But don’t get fooled
on the last mile Snipers.
We know thirty four thousand seven hundred
eighty eight and twenty four
thousand is a very big range.
Don’t get trapped in this range, really.
I want to stress that.
when it comes to Altcoins understand that
when Bitcoin is moving in US dollar value,
what’s also moving in value is
the U.S. dollar value of one Satoshi.
And so you’re also valuing a Satoshi
based on what Bitcoin is moving in.
But then Altcoins are
also valued in Satoshi.
And so there’s this complex relationship
where we can see where capital is moving.
And so far in the overall market,
it looks like we’re going to see a death
cross with this total market cap chart.
We are below the 200 day moving average.
So that indicates that it’s a very
sensitive Altcoin market right now.
You have to be careful
at which Altcoins you’re
trading and holding because with others
dominance, it’s still holding the twelve
point two percent dominance level.
It’s having a cup of coffee.
So it’s either going to break
down or see a bounce.
And so until this happens,
I think staying in fundamentally sound
Altcoins regardless of where this move
goes, is going to be your best bet.
And so that’s what I’m looking for here.
With Bitcoin dominance, we’re seeing less
fear, but we’re still trending up slowly.
And so a 50 percent dominance test where
the weekly open will have confluent soon,
I think is going to be highly likely.
So we’re going to monitor that.
But it all is going to depend
on what Bitcoin does.
That’s the big mover in the market.
And so when it comes to how traditional
markets are looking heading
into the weekend, I want to just quickly
address as a DXY doing
exactly what we want.
Japanese markets back above the monthly,
open and weekly open the CSI.
Three hundred above the weekly open,
below the monthly open,
but still a very bullish continuation.
Candles the one point six percent.
And then China,
you can see they’re starting all these
miners down traditional markets in China.
I guess we’re starting to get capital back
in their markets because you’re testing
them up and looking like next week we’ll
see continuation, possibly
new highs here for the year.
Traditional markets don’t look bad.
It’s exactly the environment.
We want to assume that Bitcoin is going
to be obedient to our support levels, our
resistance levels and its price action.
And so it’s all about.
The outside environment being calm,
that allows Bitcoin to be obedient.
But when the outside market is not calm,
Bitcoin is not obedient.
And that’s where you
see those transitions.
So are we going to see a transition this
weekend or are we just going to see a lot
of test of thirty four thousand seven
hundred and eighty
and thirty two thousand?
It’s all on the table.
But if you’re watching the Snipers
channel, we know
that we’re not going to get fooled between
thirty five thousand
and twenty four thousand.
If we’re going to come down,
then let it come down.
Wait for the volume.
As Warren Buffett says, money moves
from inpatient to the patient.
And with that, thank you all for tuning
in to the Snipers channel today.
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And with that, thank
you all for tuning in.
Be careful on the weekend.
The trick, trap and frustrate
crew are in full effect.
And we know that because
of this hourly Candles.
So if I’m going to leave you with a puzzle
piece, it’s going to be
how to identify the trick,
trap and frustrate who are
clocked into their shift.
When you start to see these type of hourly
Candles bullish, bearish,
back to back,
that’s when you know the trick, trap
and frustrate who are in the markets.
Thank you all for watching.