BITCOIN EMERGENCY! WHERE’S THE VOLUME AT $30,000? (analysis)

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Timestamps!
00:00 intro
05:40 bitcoin analysis
11:30 altcoins
14:25 traditional markets
15:55 conclusions

Snipers, you have to see what’s happening

to the Cryptocurrency market this Tuesday
as we are getting a clearer picture as

to what Bitcoin wants to do now
that we’ve seen Bitcoin break.

Thirty thousand US dollars notice
on the 4-hour chart today.

We have four for 4 hour Candles
below the thirty thousand level.

And remember,

for those tuned in into the Snipers
channel, we’ve been monitoring Bitcoin

since the 19th of May when we
initially tested thirty thousand.

And on the six hour chart we did see a lot

of volume come in more than any amount
of cell pressure that we’ve seen over

the last few months at that thirty
thousand dollar level.

But we didn’t see
that on the 4-hour chart.

The two hundred and forty minute chart,

which is an extremely popular chart,
didn’t show the volume and institutions

they love to hide their moves in different
time frames, not on the time frames

that are more popular with traders like
the two hundred and forty minute chart.

And remember when Bitcoin on the 22nd

of June came down and did see
a lot of 4-hour volume come in.

And that was the second time that we came
below thirty thousand and we saw

the consolidation back above thirty four
thousand seven hundred eighty eight.

And I said to you guys that are

the institutions hiding their volume
in the six hour chart,

when we initially tested thirty thousand,
we knew there was volume there.

When we came down a second time,
there was volume, but this time

on the twenty second of June we
actually saw it on the 4-hour chart.

And that was a sign that since they

finally imprinted their volume here,
was that the trick trap and frustrate crew

bringing the price back up to then take it
down one last time we talked about

that scenario and that’s exactly
what’s happening right now.

And here’s the problem that I’m seeing
on the micro timeframes,

because everything morphs from the smaller
time frames into the larger time frames.

There’s no more volume here
below thirty thousand.

Where’s the volume at?
Look at this.

So pressure,
that’s the major puzzle piece.

Not a surprise for those tuned
in to the Snipers channel.

All of our predictions have been extremely

accurate, as we have been over
the last three years on this channel.

And so I want to talk about what’s

happening to Bitcoin because this is
an extremely critical time with four full

4-hour Candles are now below
thirty thousand US dollars.

Guess what’s happening to Ethereum?

We’re struggling to maintain this 1760

support exactly as we
talked about yesterday.

We came down for a fourth time
to knock on this support level.

Here’s the problem that I’m seeing.

And this is going to be the main emphasis

of this video because we are
still taking the ladder down.

The lower we get in price level

before taking the elevator,
the more severe the elevator.

The downside scenario is going to be.

So or we’re going to have to now adjust
our potential targets of downside for some

of these Altcoins like a thing,
for example, because we’re not seeing

the Ethereum show any reaction at 1760,
still taking the ladder down.

That means we could potentially see even
in more severe scenario to the downside,

if we keep coming down to these lower
levels without taking the elevator at some

point or another,
we’re going to have to take the elevator

like the S&P five hundred
did two days ago.

Right.

So here’s what I want to talk about today,
of course, with a theory.

Right now, we are seeing a little bit
of some support here at seventeen sixty.

But when you’re having a cup of coffee

at an important level, that typically
means it’s not the final destination.

Are we going to see this continue
to the downside that’s on the table?

If this was the final destination,
what typically happens here?

I’ll show you an example.

When 1760 was the final destination

on the twenty third of May,
you get to the level and you immediately

turn back around if it’s
a final destination.

But when you’re having a cup of coffee

like this, it typically means it’s not
the final destination. So are we going

to be seeing further downside that might
be on the table? Do we need to adjust our

potential entries for some
of these Altcoins like a Ethereum?

Well, that’s certainly on the table,

as Bruce Lee likes to say,
be nimble, be like water, be adaptable.

That’s the key to success in this market.

The thermal Bitcoin are also not
showing much of anything at this point.

We’re really just consolidating.

And that is actually across the board

for not just the thermal Bitcoin chart,
but the other evolving parts

in the Cryptocurrency market,
the total Cryptocurrency market capture.

We’ve yet to make any further lows.

Others dominance, camping out the 200 day
moving average Bitcoin dominants camping

out at the one hundred
and fifty moving average.

These are all revolving parts.

And we’re going to talk
about what these mean.

The DXY still pushing up,

looking like we want to head towards
ninety three point eight to the S&P.

Five hundred is seeing.

A relief rally today.

But are we going to be able to get above

the previous week open or is
this going to be a rejection?

That’s certainly on the table as well.

We’re going to talk about the traditional

markets in the fact that this will have
on the Cryptocurrency market,

as we always do,
one of the unique things on our channel.

But first, let’s talk about Bitcoin.

And I’m going to throw a little puzzle

piece to end this video, which is
going to be the Gold to Bitcoin chart.

That’s how we predicted
the top of this market.

And I’m going to talk about
what I’m seeing in that chart.

You guys are watching the Snipers channel.

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So now that we’re at thirty thousand

and it’s not showing volume,
I’m going to take it off the chart.

And that’s why it was in white and not
in red, because red is our major support

and resistance levels,
not the white lines.

The white line that was at thirty thousand
was only there because it was an area

of interest, as we’ve seen volume
and reactions at that level.

But now that we’re not seeing volume here,

we have to pull the curtain back
and just look at it for what it is.

The range that we’re in still takes us

to twenty five thousand
eight hundred and eighty.

The lower that Bitcoin goes without taking

the elevator, the more severe
the downside scenario could be.

So here’s the thing.

This could play out
in several different ways.

But I’m going to first address
the upside scenario on the weekly chart.

We have this fifty week moving average.

It’s the first full weekly candle fully
below the 50 week moving average.

And this is a puzzle piece.

In order for us to have any sort

of a rescue operation for Bitcoin,
we need to get above the 50 week moving

average sitting at thirty two thousand two
hundred until and if we get above thirty

two thousand two hundred, then we
have to expect downside for Bitcoin.

That would also put us
above the weekly open.

So that’s certainly
a confirmation right now.

If we want to assume any further upside
above thirty two thousand three hundred,

we can start talking about
a different game plan.

But until then, if we continue to take
the latter down here,

we have to realize that twenty eight
thousand is a structural support level

that would still keep us inside of this
flag so we can come in for me lower, low.

But the problem with that is it wouldn’t
take us out of this consolidation.

So now that the bears have brought us
below thirty thousand,

which is not a surprise,
we assumed this was going to happen based

on the hints we were
getting on the volume.

As I talked about from the start of this

video, they only wanted to show the volume
here on the twenty second of June.

They didn’t show it here on the initial
test of thirty thousand.

And this was a huge puzzle piece

that maybe it was a trick trap
and frustrate crew that wanted to bring

price down one more time,
fooling traders, thinking that there was

volume here and that this
was the end of it.

That’s exactly what’s happening right now.

But now we’re not seeing volume
at thirty thousand or below it.

So here’s what I’m looking at.

Twenty eight thousand is
the next structural support.

If we take the latter all the way down
to twenty eight thousand,

there is a high likelihood we could see
that with to twenty thousand for Bitcoin.

That would not be the best case scenario.

And I’m just going to
throw this out there.

If we were to look at this chart

in inverted right,
you get different perspective.

It’ll make you think
a little bit differently.

Notice how it really looks like Bitcoin

has a pocket up here
that it could certainly come and test if

we were to just look at this
chart for what it is.

Notice how on the weekly chart
we have this pocket here.

We’re the one hundred
week moving average sits.

And when we invert this chart looks like

a very strong cup and handle formation.
Would it be surprising for Bitcoin now

that we’re above this
fifty week moving average?

This is just an inverted chart to come up

and test this pocket
here at twenty thousand.

We’re the one hundred
week moving average sits.

I don’t think that’s off the table at this
point, especially if we keep,

you know, taking the ladder inside
of this range below thirty thousand.

This is certainly on the table.
Right.

So this is a very
big area of interest for me.

There’s a lot of confidence,
a lot of major levels here.

And when you invert the chart,

it really starts giving you a clear
picture of what’s happening.

And when we look at the Gold to Bitcoin
chart, I know I was going to throw

in at the end of the video,
but I might as well just put it up.

Notice how if we were to uninvite this

chart, we have an ascending
triangle forming here.

Now, this red line at sixty five.

Seventy six is the twenty seventeen
bottom of Gold against Bitcoin.

Right.
This is another way to look at Bitcoin’s

value against another hard asset versus
looking at it against the fiat currency.

Notice how this was the twenty seventeen

bottom and that is the exact way that we
actually predicted the top for Bitcoin.

We knew that once we crossed this major
level, we were monitoring this chart.

And when we started to come up getting
close to this fifty day moving average,

this is when we started
saying Bitcoin is going to.

Top year in April, and that’s exactly what
happened as soon as we crossed above

the strip moving average,
we started talking about a rescue

operation and that turned
into the top four Bitcoin.

Now we have this ascending triangle.

This is an interesting puzzle piece.

You tune into Bloomburg.

They’re trying to change the narrative,

saying that Bitcoin is not
a store of value anymore.

It’s you know, the energy consumption
is too high, whatever they want to say.

Are they changing the storyline to
see this chart? Gold,

that’s Bitcoin breakout back above
the twenty seventeen levels.

That would be extremely
surprising for somebody like me.

But markets love to do what traders

don’t think it’s going to do.

And so this is on the table right now.

This breaking out would
be bad for Bitcoin.

Of course, that means that Gold
is strengthening against Bitcoin.

Gold is actually not doing much.

We’re not going to look at it today,

but that’s actually not a good thing,
because if it’s just consolidating,

showing strength while at DXY is pushing
up, it shows that institutions are hedging

away from traditional assets,
possibly even Cryptocurrency.

So we know the upside.

We get above thirty two thousand three

hundred, then we can start
talking about upside Snipers.

But for the downside,
I maintain my thesis.

Twenty thousand is a structural support,

but I’m not expecting
that to be where we stop.

I think twenty five thousand eight hundred

and eighty becomes a lot
more likely right now.

The fact of the matter is
we don’t see any volume.

So I think that we could certainly see
a week potentially towards that twenty

thousand dollar level is
on the table as an umpire.

And because we’re starting to see this

unfold, we have to be
like water and adapt.

We’re looking at Altcoins.

So Ethereum coming back below 1760.

We knew this was going to happen.

We’re already having a cup of coffee here

indicating to me that it’s potentially
not the final destination.

And so here’s the thing.

Ethereum is a lot more
volatile than Bitcoin.

So let’s assume that Bitcoin
does get to twenty thousand.

Let’s just assume it’s on the table.

So why not look at what would happen here?

We’re talking about a 30 percent downside.

So if a theorem is more volatile,

let’s expect more than a 30 percent push
to the downside of Bitcoin test 20000.

Right.
We just have to put that on the table.

Well, if that’s the case,

we’re looking at price levels
below the previous all time high.

Now, just 30 percent takes
us to twelve hundred.

But if it’s a more volatile asset,

we’ll see 50 to 60 percent downside
that might be on the table.

So here’s what I’m looking at now.

We’re so close to this
previous all time high.

A lot of people say that.

And I used to say this all the time.

You know, once you break all time high,

it’s typically very rare
that you come and retest it.

That extends to four Bitcoin right now

for Ethereum, it’s different
assets are more volatile asset.

I think that we have to be a little bit

more cautious with a Ethereum if we don’t
see Bitcoin really make its move yet.

Ethereum is just going to want
to camp out here 1716.

But Bitcoin makes a move.

There is a potential we
get below fourteen forty.

And if that’s the case, then I don’t want
my entries anywhere near that level.

I’m going to be looking at this pocket

from eleven hundred to nine
hundred U.S. dollars.

Now I know that sounds crazy,

but the market does what
we least expect it to do.

So I just wanted to throw
that out there today.

We might have to start
looking at further targets.

The downside when it comes to the elevator
being taken doesn’t mean you should have

dollar cost averaged entries
within these ranges.

Anything below 1760 is a great entry,

I believe will be above
two thousand for sure.

We have the London hard for,

you know, August 4th coming up,
I believe into the end of this year.

We’ll certainly be way above
twenty fourth Ethereum.

Sothat’s what I’m monitoring.

That’s kind of the emphasis of this video.

As I mentioned earlier,
I want you guys to realize that, you know,

as we see this unfold, more and more,
we have to adjust our game plan Ethereum

to Bitcoin chart, not showing
much strength right now.

We’re not getting much hints
from the revolving parts.

They’re still kind of stagnant.

Other’s dominance is what I’m really

monitoring here at this
200 day moving average.

If we break below this,
that’s a puzzle piece.

But so far we still can assume this is

a bullish flag that could
potentially continue further up.

A garden variety market behavior says

that when you’re breaking a multi-year
resistance like we are here at twelve

percent, that’s going to act as
support and we should see a reaction.

So that’s what I’m watching here.

I don’t know what Bitcoin is going to do,

whether it goes up and down,
you know, it doesn’t matter.

The others dominance chart
will act in its own way.

And so this is something we want
to monitor when the move happens and then

we look into traditional markets are
going to quickly talk about the DXY.

We’re seeing another Khandahar today
breaching all of the other Candles over

the last few weeks,
a high of ninety three point one seven.

It looks like it wants to head
towards ninety three point eight.

To the closer we get to ninety three point
eighty two, the better it’s going to be,

because that’s going to mean we’re seeing
the worst of what we’re seeing so far.

So right now, though,

on the way to this level,
this tells me that we’re going to see

a volatile week and a lot of swings
in both directions.

And that’s clearly showing here with S&P.

Five hundred seeing this
massive downside is just on.

He recovered back up above the weekly
monthly open today, but we haven’t gotten

above the previous record and we can’t say
that this is a reversal,

could be like what happened to oil
where we came up, we topped out.

We came back up.
We got back above the monthly weekly up.

But then we continued back down, actually.

Now at the 100 day moving average,
that could happen here, the S&P.

Five hundred.

Remember, commodities
are leading indicator.

Are we just coming up to do oil did

to come back down at least towards
this one per day moving average?

If that’s the case,
that would assume DXY is going up.

That means S&P comes down,
Crypto might also come down.

So we want to watch that because you see,

is that leading indicator already covered
Gold, Bitcoin and with the I appreciate

each and every one of you
Snipers tune into the channel.

And this was a little bit of a long video,

but I wanted to go over
everything that was on the table.

Let’s pick a winner from our video
yesterday to when Principles by Radar.

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come and blow and smashed it like one,
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Daniel Abdelnour says the only
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Thanks, brother,
for all your great videos.

Appreciate the kind words, Daniel.
That means a lot.

Send me a message on Instagram.
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And with that, thank you
all for tuning in today.

Tomorrow’s Wednesday.

Let’s see what happens.

I can’t wait to cover it
and until next time Snipers out.