BITCOIN FINAL MOVE BEFORE MAJOR DUMP?! (what to expect soon)
You have to see what’s happening
to the Bitcoin price this Sunday as we
have broke back into the $41,950 support
level, opening up the range to $38,000.
So I have to get this video out to you
guys as traditional markets are gonna open
tomorrow on Monday and this is gonna
potentially bring a lot
of volatility in Bitcoin price.
So I want to talk about what I’m expecting
and watching here as we start to see
the traditional markets open.
Notice how we have 41,950 right
now is the major support level.
If we really start to cross below this
level hourly and four hour candles,
we have to be cautious to the point
of which understanding that 380 is
the next level of support after 41 915
because we’ve already came down below this
range twice and notice how we
initially wicked below this range.
Then we really came below this range.
And then finally we were able to hold
the range for a little bit
having a cup of coffee here.
If we come back down with the order books
cleared the way they are now,
in my opinion, we also have to watch 36,
534 788, so that’s only if we start to see
hourly and four hour candles
closing below 41 950.
These are the downside targets to expect.
So about nine to 15% area
of downside there for Bitcoin.
Now when it comes to the bullish scenario,
as we start to see futures markets,
give us a little bit of an indication
of our institution is going to be
placing their best this week.
We also want to monitor here if we go
on to the four hour chart,
notice how we have this structural support
which is now gonna be resistance
right at this $42,500 level.
If we can start getting back about 42,500,
maybe we can just say 430 because
that’s the big even there.
In my opinion,
we could be buying ourselves some more
time to see some sideways
price action for Bitcoin.
But at this point I think it’s gonna be
tough or Bitcoin to get to 44
800 in the next 24 to 48 hours.
And so understand that we’re either
at a point of breaking down or at a point
where we’re gonna be seeing
more sideways price action.
So I have to get this quick video update
to you guys, and nothing has really
changed with our altcoin predictions.
We still believe here
on the Cyber Channel.
Gold Quin season is on the verge
of a short term slow down with the theory
in a Bitcoin chart being the leading
indicator here still forming some new lows
on a daily basis, and that is
certainly affecting Ethereum price.
If Bitcoin cannot get above 43,000,
gold be very tough for them to get
back above 3000 at this point.
And remember this range can take us
potentially down below $2,000 if we see
Bitcoin breakdown from that $41,950 level,
especially if we start getting towards
that 38,000 36,000 $534,788 support level.
So when we look at what’s happening
to the DXY, this is a major market when it
comes to understanding the correlation
of the dollar value against other assets.
If this starts to push up above 93.82,
that’s gonna be an extremely important
puzzle piece, because that would
be the first time in over a year.
The strength of the dollar is really
starting to tighten up
and strengthen against other assets.
And this is where I’d be
concerned about other markets.
So we’ll continue to watch traditional
markets as we start to see them open up.
But other than that, the last thing
I’m going to be watching is Spy 500.
How does this open up here
with the features markets?
Because we are above the 50 day moving
average is the first time we’ve tested
the 100 day moving average
since the start of this year.
And usually we get back above the 50 day
moving average and we see
continuation to the upside.
So we want to start to see
that type of price.
Actually, if we start to see some downside
at Spy 500, that would not be a good sign.
We’ve already tested the 100 day moving
average, so we have to keep
that on the table as a puzzle piece
for the bears and what they might have
in mind if the Spy 500 starts to come
down, that could certainly affect Bitcoin.
So just wanted to throw this
quick update out to you guys.
Since Bitcoin is now back
at 41 950, what to expect?
And if you guys you don’t
already know, I’m in Greece.
I’m actually leaving today.
So this is the last time I’m going to be
able to show you guys this amazing view.
I am worn out.
It’s been a long trip,
but I’m excited to move forward.
And as always, we’re going to be posting
our content on a daily basis,
so I hope you guys enjoy today’s video.
Thank you all for tuning
into the Cypres Channel today.
I’m going to head to the airport soon
and I’m going to enjoy myself here, and
everything is going exactly as predicted.
Isn’t that awesome here
on the Snipers Channel?
So until next time,
thank you all for tuning in.