BITCOIN EMERGENCY AFTER ROBINHOOD PUMP (& ethereum analysis)
Daily Crypto, Stock, & Forex Signals!
My Interview w/ Founder Of Cardano & Ethereum!
https://youtu.be/j-xhUSTDVxE (Charles Hoskinson Interview)
03:15 bitcoin analysis
07:35 traditional markets
Snipers, you have to see what’s happening
to the Bitcoin price this Thursday as we
are inside of the forty one thousand nine
hundred fifty and thirty
thousand dollar range.
But on the 240 minute chart,
you can see the bulls have finally started
to react here at thirty eight thousand,
bringing the price right now back up
to the forty thousand dollars big,
even where we have the weekly open.
And of course, we know thirty six
thousand five hundred is a major support.
But because we’re already seeing the bulls
react, that’s the most preferred scenario,
because, of course,
the lower we go and the more support
levels that we test,
the more the bears are in control.
So the fact that we’re starting to see
price action are now already back
at forty thousand U.S. dollars.
The importance of this is getting above
this weekly open can change
the psychology of the market.
And then we have the monthly open
at forty one thousand five hundred.
So close to this, forty one thousand nine
hundred and fifty dollar resistants.
we start to break above forty one thousand
nine hundred fifty with decisiveness.
We are finally going to potentially test
the twenty week moving average at forty
four thousand eight hundred where
we have the 200 day moving average.
This is the important level
for the upside and for the bulls.
Are we starting to see the early
signs of this rescue operation?
We’re going to talk about that today.
And of course,
if we start to see this reject,
that’s also going to open another
downside scenario that we’ll talk about.
I want to talk to the bears
and the Bulls on this channel.
Something interesting that I’m going
to also discuss today is the Robin Hood
price up 50 percent today.
Notice how we saw this massive
influx of liquidity come in.
Does this make us assume that we’re still
in this trend where we’re seeing investors
move into alternative assets?
Robin Hood not being an alternative asset,
but certainly is an alternative exchange
when you look at the traditional
brokers like E-Trade and TD Ameritrade.
And so it’s almost like a meme stock.
And we know that when there’s this type
of liquidity in the market,
that could also affect
the Cryptocurrency market being one
of the most alternative investments.
I want to talk a little bit about
that today and then we’ll cover
the revolving parts of the Cryptocurrency
market, starting with a theory
Of course, this is not a surprise.
I’m going to address the symmetrical
triangle breakout that we’re seeing right
now with the Ethereum to Bitcoin chart
and what this means for the Ethereum
price, because there’s really
a lot to talk about today.
Understand if Bitcoin starts to move above
just like we’ve been saying,
Ethereum could perform stronger
if the sitharaman a bitcoin chart
continues to see strength because we’re
in this very large range that can take us
to eighty six thousand Satoshi
and then the London Hard.
Of course we’re going to talk about
that and then look at the total market cap
chart, other’s dominance in Bitcoin
dominance, and then quickly wrap up
with the DXY S&P Five hundred and oil.
You guys are watching the Snipers channel.
My name is Naeem Alobaidi.
Remember to smash Altcoin for the YouTube
algorithm so that we can hit one hundred
thousand Snipers on this channel.
So to just continue with my bitcoin
we knew this thirty eight thousand dollars
level was going to be the first level
of support and now we’re
seeing the bulls react.
The fact is that if we start to see real
decisiveness and volume come in,
we are now putting ourselves in a very
good position where we could come up
and test forty one thousand
nine hundred and fifty.
That’s really the major level that we need
to get to because that puts us in a place
where it’s not going to take a Hail Mary
to get us to the forty four
thousand hundred dollars level.
We just have to do a run play, get,
you know, to the touchdown
and we’re already in the end zone.
you know, that’s an American football
reference for those that
watch American football.
And I’m liking what I’m seeing.
So I think that that is
very good to see with Bitcoin.
But really, if we come back down to thirty
six thousand five hundred,
I still wouldn’t be that concerned.
I think that that would really
strengthen the thesis that we’re going
to see sideways price action
with Bitcoin for quite some time.
And if that’s going to be the case,
it really may be beneficial to start
looking at Altcoins specifically if we
pull up a Ethereum, which is the leading
indicator for Altcoins being the largest.
Notice how we’re above the one hundred day
moving average, of course,
above the two hundred and fifty period
moving average on the daily, putting
us above the weekly or monthly open.
This is a clear bullish rally that we’re
in right now and our first targets
that thirty four fifty four level.
I think if Bitcoin can really see some
decisiveness above forty thousand,
notice how Ethereum kind of.
How is this level here at the 3000 big
even has acted as resistance
throughout this bear cycle that we’ve been
in when Bitcoin first test, the 30000,
I think that with Bitcoin coming above
forty one thousand nine hundred and fifty,
we could already start seeing Ethereum get
above this three thousand dollar level.
We get above 3000.
That’s a straight shot to this previous
resistance at thirty five hundred.
And then that puts us so close
to the previous all time high that now we
have a chance to see new potential
all time highs for Ethereum.
you know, of course if Bitcoin starts
to go sideways,
there’s a potential Ethereum can play
around in this range between
1980 and thirty four.
Fifty four over the next few weeks.
That’s on the table.
But I think a lot of this is going to have
to do with what’s happening to this is
Ethereum to Bitcoin chart, because
if we really see momentum here,
not only are we seeing U.S. dollar
liquidity flowing into a thing,
but we’re going to be seeing Bitcoin
flowing into a theory and people
taking their Bitcoin and switching it to
Ethereum that could also drive price up.
So I think that theory was
in a really good position right now.
I think that’s the clear
schematics that we’re getting when we’re
comparing Bitcoin versus Ethereum
and that a total Cryptocurrency
market cap looks good.
It looks like there’s a potential now
that we could test
these previous levels of resistance.
We get above one point
seventy five Trillion.
The importance of that is we’re
above the 20 week moving average.
That puts us in a bullish trend for the
total Cryptocurrency market cap chart.
That means that we can change these
currents from red to another color
because, you know, regardless of Bitcoin
get some of the 20 week moving average,
if the overall market gets above the 20
week moving average,
I’m totally fine with that as well.
It’s not a bad thing to see
other assets in the Cryptocurrency
market perform well.
You know, you look at traditional markets
and the storage of value that people
like to hedge in,
especially institutions, is Gold.
And that’s not the largest market.
You know, the S&P 500 is a lot
larger than the Gold market.
So I think that we have to be open minded
as we approach the end of 2021,
heading into 2022.
And the other’s dominance chart,
clearly showing strength above the 200 day
will continue to monitor this.
Nothing crazy happening yet,
but we have to monitor the Bitcoin
dominance, rejection of the 20 week moving
average, because if we get above that,
we can start changing our
thesis here with Altcoins.
But until then,
we’re going to stick to what we’ve always
stuck to here in the Snipers channel.
I’d like to be consistent with you guys.
We look at the DXY.
This is going to be an important puzzle
piece because we are starting to move up
and to watch this resistance at ninety two
point six to if we start to see sideways
I think that that’s completely justified
for the DXY we break above this level.
That could be a concern because
that potentially could take
markets to the downside.
And we look at the S&P 500 because
of the DXY showing comments were just
tightening up in this range
where we’re seeing highs.
We could just kind of trend up,
maybe slowly trend up,
even if we come down a little bit.
It’s not that big of a deal.
We’re so far above the 50
day moving average.
Nothing to be concerned about.
I think with traditional markets,
commodities aren’t doing that well.
Oil is selling off to this one day moving
average, but it could just be a higher
low here and we could see further upside.
I don’t think that there’s too much fear
with commodities just based on how gold
and other precious metals are doing.
So the Robinhood
pump of fifty percent today.
I think this is an interesting puzzle
piece that just kind of gives us the
psychology of the market right now.
And a lot of people have been fearful
because we haven’t seen, you know, like
Tesla in 2020 just continuing to run up.
You know, I haven’t seen that many assets
lately and seen this with Robin Hood
today, I think is a positive sign that
we could see, you know,
something unexpected in the Cryptocurrency
market, especially with this
being Robin Hood, your wallet.
And there are rumors that they’re going
to start allowing users to withdraw
their Crypto at some point.
And so they might turn into a big
competitor to Coinbase.
So so maybe this is a Crypto play
that we’re we’re seeing the stock market
today that’s going to translate
into actual Cryptocurrency market,
seeing more liquidity flow into it.
So I think that’s a good puzzle piece
that I want to leave you guys
with before we give away our book.
And with that, I hope you
enjoyed today’s analysis.
I appreciate each and every one
of you Snipers tune into the channel.
I want to show my appreciation by giving
away principles by ridolfo to one of you
watching comment below
and share this video.
All comments will be illegible.
I’ll pick a winner from yesterday’s
video from the bottom here.
Immortal gaming says Bitcoin
to one hundred thousand.
Send me a message on Instagram.
You want a book?
The link is in the description
below and with that.
Thank you all for tuning
into the Snipers channel today.
Until next time Snipers out.