BITCOIN EMERGENCY!!! INSANE MOVE RIGHT NOW (massive warning)
You have to see what’s happening
in the Bitcoin price this Tuesday is we
have a very clear market structural
resistance level that we are currently
facing as we speak at $50,300,
and this is gonna be a momentous time
for Bitcoin because if we’re able to break
above this level,
the likelihood that we’re able to get
about 54,0530, which was our previous
resistance where we rejected over 19%,
becomes highly likely and it puts us
inside of the range of 58,
353 and 49 to 700.
I want to talk about what I’m
expecting for Bitcoin this Tuesday.
It’s turnaround Tuesday.
I said that there was most likely a chance
that we were gonna see a continued
push to the upside on Tuesday.
But tomorrow things may change
and that all has to do with what’s
happening right now
to traditional markets.
We all know that the warning bells are off
with the SMP 500 below this 100 day moving
average for the first time since October
of 2020, we’re fighting to get
back above it as we speak today.
We have seen the Spy 500 move
to the upside while the cryptocurrency
market moved to the side.
That tells me that there’s institutional
capital flowing in between these markets.
And when we look at the DXY,
the reason that this is all happening is
we are above 93 82, which has been a major
resistance that we haven’t
broke for over a year.
And when the dollar value strengthens F
those students in the snipers channel,
you know what happens to assets.
They tend to come down in US dollar price
for those inside of our
discord premium group.
You know, we took a short
on Ethereum at 34.
It had already hit two targets up to 30,
411, but we may need to reenter a shorts
position if we see another break
to the upside for those not
in the discord, the link is
in the description below.
Once again, we open that up yesterday.
Now the Bitcoin to us dollar price.
I want to talk about what’s happening here
on the six hour chart,
the institutional timeframe that we’ve
been monitoring notice that we’ve yet
to see real by pressure when it comes
to institutional type of volume to compare
to what brought us down
19% on the 6 September.
But we’re facing this extremely
If we break above this,
we could expect Bitcoin to see a lot
of volatility up towards the midpoint
of this range right around this 54
to $55,000 level,
because we all know that when you break
into a new range,
the midpoint of the range typically
becomes a level of resistance or support,
if that’s to the downside.
And so we want to start
monitoring this $5300 level.
But realize this with the traditional
markets not in the favor
of the cryptocurrency market right now,
we have to be very cautious as
we move up here with Bitcoin.
And I want to clearly emphasize
that of course,
if we go into some of these smaller
timeframes and we look at how Bitcoin is
reacting to this resistance,
we have yet to really see sell pressure.
And that tells me the the likelihood of us
seeing a rally to the upside to maybe
clear some shorts,
maybe to see some stop losses.
It is possible.
And so we really want to start
monitoring this is a macro resistance.
And I say that because the only time
that we’ve touched this resistance
was when we hit 64 $0 for Bitcoin.
And of course that was a short term top.
And the second time this resistance came
into play was when we hit another macro
shorts term top where we came down 19%.
So we know that this is a very big
area of interest for institutions.
And I’m sure retail traders are
watching this resistance level.
So we really want to watch what’s
happening into the smaller timeframes.
I want to pull up the Ichimoku.
I love looking at the ETH More
cloud on the four hour chart.
Notice how we are above
the cloud right now.
We are pretty much in a rally.
But the question is,
how long can this rally last?
Last time we were above the ETH Mogi cloud
for quite some time,
we eventually saw a drop below.
I’m not trying to be bearish what I am
saying that is if the traditional markets
weren’t looking the way they were,
I wouldn’t be so concerned about this move
to the upside, but realize that with this
range of 49,750 8353,
anything could happen.
And so on the daily chart,
notice how we are still maintaining
the body of this candle
between the 44,800 and the $58,300 range.
Telling me there’s gonna be a lot
of volatility over the next few days.
And the question is,
where is Bitcoin going to end up
is gonna be very interesting to see
what happens over the next 24 to 40.
Guys, I had to get this video out to you
guys as soon as we started to come up
and test this resistance level,
I just want you guys to realize that if
traditional markets were not looking so
against the cryptocurrency market,
I wouldn’t be too cautious
of this meme to website.
But because Bitcoin is so far above the 50
day, 100 day and 200 day moving average,
and so far above the 20 week moving
average, while the SMP 500
showing the opposite below the 20 week
moving average, that is
the reason I’m concerned.
That’s why you guys watch this channel.
We’re a four dimensional channel.
We look at every market,
we correlate them and we know there’s
a lot of correlations between Spy
500 and the cryptocurrency market.
Based on what happened on March 2020,
we all remember that it’s a very critical
time here for Bitcoin,
but what we do know is clearly happening
is Bitcoin dominance is moving
to the upside, forming new highs
above the 50 day moving average.
Despite every analyst saying that Bitcoin
dominance was gonna continue to form new
lows, I said, no, that’s not the case.
We topped out with Bitcoin short term
at 64,000 in May and Bitcoin down
has not formed any low since then.
And because of that, I have assumed
that we’ve double bottomed.
And that is clearly the case.
Of course, there are always those isolated
altcoins that may see
some new all time highs.
But when we look at Ethereum Cardano,
polka dot ETH Binance coins,
some of these large cap coins, those
are the altcoins that really matter.
Those are the all coins that institutional
Capital has positions in.
And so those are the ones that are going
to be leading indicators for the more
macro environment for altcoins.
And all of this is coming together
with the chart that shows every altcoin
outside of Bitcoin and Ethereum also
forming some UlOs after this lower high
breaking right now below
the 50 day moving average.
That tells me that if you’re in all coins
and you want to prevent downside, the best
way to hedge is to move into Bitcoin.
And so I think that’s
clearly the case here.
The total cryptocurrency market cap chart
also trying to come and test this major
resistance of two, two, five, 9 trillion.
Is this gonna be the final move to the
upside before we see some downside?
I think that that’s certainly on the table
up until something changes
with traditional markets.
And what I mean by that is we need
to start seeing the DXY cross back below
93 82 to assume that there’s gonna be more
breathing room for the cryptocurrency
markets to see further upside without us
having to be so cautious,
because if we stay above 93 point 82,
that is a very bad sign
for the cryptocurrency market.
Of course, we’re already seeing
the effects of this in the largest
traditional market Spy 500 breaking
below this one today moving average.
We’re going to have to continue
to monitor this as well.
And then traditional markets like
the international aspects
China Japan gapped down today
below all of its moving averages.
That’s not a good puzzle piece
on the table for the cryptocurrency
market to see some upside either.
And then oil and gold.
Not much to talk about there,
but oil did form some new yearly
highs over the last two days.
Sometimes what we’ll see is US Oil and
the DXY show some sort of correlation.
Sometimes it’s an opposite correlation.
Sometimes it’s a positive correlation,
but the US oil moving up is
definitely something to keep in mind.
Gold not doing much right now.
Let’s monitor this Bitcoin price right now
trying to break this resistance level.
I think this is a very important
area for Bitcoin.
If we break above it,
anything could happen because we have
a huge range here up until 58 353.
But keep in mind, the midpoint of these
ranges typically act as some sort
of resistance like we saw when we first
came up a 49, 700 and we were injected
here between the 53 and $54,000 level,
depending on what exchange you
are on a lot happening today.
It’s going to be interesting to see what
happens in the next 24 to 48 hours.
I think that being open minded to shorts
over the next few days into the latter
part of this week wouldn’t be a bad idea.
But the question is,
where is this really going to start
seeing some calmness at this point?
We are still moving up to the upside.
So that’s why when you shorts,
it’s a day trade.
You want to get in and out of those trades
and so we’re gonna continue
to monitor the prices.
Eth, I’m not being bearish.
All I’m saying is that traditional markets
are not in the favor of the cryptocurrency
market, rent out and just continue
to rally unless we’re gonna
see a decoupling effect.
But that’s never happened
in the history of this market.
We’ve always seen this market
correlate with traditional markets.
I’ll show you an example here
from the 2017 and 18 rally.
We all remember when Bitcoin first went up
to 20 $0 and then it started to come down.
If we look at what happened in January
of 2018 to the SMP 500,
I don’t know if you guys were watching Spy
500 back then, but it did the same
exact thing here in January of 2018.
It rallied up and the same time
that Bitcoin topped out at 200, it also
came below it’s 20 week moving average.
And so like I said,
these markets are extremely correlated,
and that’s why we always cover each
and every one of them on this channel.
Stay four dimensional to give you guys
the best perspective on a daily basis
when it comes to intro, date and macro.
And so with that being said, let’s
continue to monitor prices once again.
We just opened up our discord again
after upgrading our website yesterday.
If you guys want to join,
the link is in the description below.
We’ve had a tremendous amount of success
with our trades over the last week,
and this is pretty much every single week
we have a tremendous amount of success,
not just me, but a dozen of our analysts
that also post their
trades on a daily basis.
And with that being said, thank you
for tuning to the Cypress Channel.
Say I appreciate each
and every one of you guys.
I couldn’t do this sell.
By the way, I’m gonna be speaking on stage
at Coin Agenda here in Dubai from the 8th
to the 10th with Mm, Crypto, Coral,
The Moon, and Devinshi on a panel.
So for those that are in Dubai,
I will post a link to that conference.
If you guys want to come and join us.
Michael Turpin is going to be hosting this
and I don’t have a link just ETH,
I’m waiting for that from one of the PR
ladies to send that over to me,
and I can get that link out to you guys.
But Gold, no be very interesting to see
what happens here to Bitcoin between
49,750 8000 with the Spy 500
just not showing strength.
I’m just saying we should be
showing some caution right now.
And by the way, with Ethereum,
I do want to mention that with a break
to above this major resistance at 50,000,
there is a likelihood we can come up test
this channel resistance around ETH 600,
and we also have majors
is that 36 50 to watch.
And so I think that these two levels can
come into play at some point or another.
But it’s quite clear right now
that Bitcoin dominance wants to move up
a thermite Bitcoin are also showing
weakness, and you can see it’s way
in below this 50 day moving average coming
down towards this 100 day moving average.
So that’s not a surprise for those
that have been tuned in to the channel.
Thank you all.
Until next time.