Naeem Al-Obaidi
11 min readJul 23, 2021


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00:00 intro
04:40 bitcoin analysis
07:16 altcoins
09:20 traditional markets
11:11 conclusions

Snipers, you have to see what’s happening
to the Cryptocurrency market this Thursday

as Bitcoin is flirting with the thirty two
thousand three hundred dollars level right

now with today’s daily Candles high
at thirty two thousand six hundred

in the daily low at thirty
one thousand seven hundred.

But we’ve yet to get a full
4-hour confirmation.

If we were to actually go on the 4-hour

chart and observe the thirty two thousand
three hundred dollar level where we have

the 50 week moving average,
we have yet to get that confirmation.

So I do want to talk about what’s

happening with Bitcoin,
whether or not this is just going to be

a relief rally to see more downside like
we talked about yesterday,

or if we’re going to continue further up,
because notice here how we do have this

4-hour right now fighting to stay above
this thirty two thousand three hundred

dollar level where we have the fifty week
moving average,

but we’ve yet to get a full candle
body in Wick closing above this.

And if and until we get that full candle

body and wick closing above,
that’s going to be the confirmation

that we’re most likely going to come
and test thirty four thousand seven

hundred and eighty,
as we talked about yesterday.

But the storyline that we’ve had on our

channel and now a lot of the analysts
that have been saying Altcoin season is

over are now switching and say, oh, no,
Oku season is actually still intact.

And Altcoins are actually doing well,

shows us that there’s not
much fear in the market.

The fact that we’re still holding these
higher levels of Altcoin dominance.

We were at around six percent in January
and we’re still at 12 percent right now.

So despite this bear market now,

the analysts have finally
caught up to the trend.

This is not a surprise for those have been
tuning in the Snipers channel

that the other dominant chart is the most
bullish chart in the Cryptocurrency market

because it’s sitting closest to this
twenty week moving average.

And you look at Bitcoin and how far
and away it is from this 20 week moving

average, it’s at forty four thousand
eight hundred four Bitcoin.

We’re nowhere near that.

So that’s a huge puzzle piece and that’s

causing a Ethereum today up over one
percent, a little bit more than Bitcoin

still outperforming Bitcoin every time
we’re seeing these spikes to the upside.

So that is because Bitcoin is still going

sideways, refloating below
thirty five thousand.

Above thirty thousand.

So this storyline hasn’t changed.

But what is interesting is the fact

that we are sitting here at this
fifty week moving average.

And that’s what I want
to talk more about today.

We’ll look into the micro timeframes
because staying and getting above this

on 4-hour Candles is
a big win for the bulls.

The fact of the matter is, we’ve already
seen this week all the way down.

This could be considered a bullish week if

we start to see the body of the scandal
surpass thirty two thousand three hundred.

So that taking us to thirty four thousand

seven hundred and eighty is the preferred
scenario for us to assume we could

potentially be seeing further
upside into Q4 of this year.

So Q3 is pretty much just going to be

sideways price action unless
something changes soon.

We’ve only really seen sideways
price action here through Q3.


a lot of people are saying
Bitcoin going to do well into Q4.

I think that’s going to be the case.

We’re also going to cover traditional
markets after we cover the other evolving

parts like others, dominance and Bitcoin
dominance and the S&P 500 today,

Noticia this week, the Cardano
does look good and bullish.

We are above now.

The previous week we open the weekly
open and the monthly open.

This continuing to the upside
would be very positive.

What we’re looking for here is for this
not to just come up,

form a Lower High and then
drop back down to this one really moving

average, kind of like what
oil did where it came up.

It looked like it was
going to get bullish.

It got above the month and we up and then

it fell all the way back down to this
one hundred day moving average.

So commodities can sometimes be
a leading indicator for the S&P 500.

What the S&P 500 does
coming into the close tomorrow, Friday,

because that’s going to be the last
candle is going to be important.

So this is going to be a very, very

telling weekend, in my opinion,
because if the S&P 500 can close strong

tomorrow and Bitcoin has a very good
chance to come to that thirty four

thousand seven hundred
eighty eight dollars level.

And that’s going to put us at this
fifty day moving average now.

And that would be the first time
ever that we’d get to test this.

So we’re going to look at all
the scenarios today, as we always do.

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My name is Naeem AlObaidi.

Let’s just dove straight
into this Bitcoin analysis.

I really went through a lot of it,

but I kind of just want to go over more
of the micro timeframes today because,

you know, we talked about thirty two
thousand three hundred yesterday.

We know that’s the level.

And so we’ve yet to get
a 4-hour confirmation above it.

We’re having a cup of coffee
and we are starting to form these kind

of Higher High and Higher High
are not really a good thing.

That actually is.

A bearish pattern,
typically, when you’re

assuming more bullish flag,
you want to see some of these higher lows

and lower lows,
typically those will break out.

So we could just throw this on the table
that on the micro 4-hour time frame,

you know, this is the 50 week
moving average of 30 to 300.

We haven’t seen crazy
amounts of by volume.

We’re seeing large
spikes of sell pressure.

It’s really a 50 50 here.

So it looks like Bitcoin was still
trending here on the 15th and 16th.

And then we saw this little dump than
the B word event came yesterday.

And now we’re just back
to the same price levels.


So I think we just need to realize that as
much as we are seeing red

days consecutively,
these green days are very healthy.

But it means that we’re
still taking the latter.

And I think that that is what
is really happening here.

The fact of the matter is we get above

thirty four thousand seven
hundred and eighty eight.

That’s going to be the real confirmation
that we have a reversal in trend

up until this area, because that’s where
the 50 day moving average is sitting.

In my opinion, we can just continue
to float sideways below 35000.

And until we take the elevator,
I think that the sideways price action is

just going to garner opportunities
for Altcoins, as it has been for those

in the Discord, you know,
trading a lot of these Altcoins.

We’re seeing tons of Altcoins pop here

with this Bitcoin price action
coming back above the weekly open.

And that’s just how it’s been
throughout this whole consolidation.

And so it could get boring if we just stay

below thirty five thousand and
and above 30000.

If we start rejecting the thirty two

thousand dollar level,
we have the weekly open.

That’s when I’d start being more concerned

that we are going to see further downside
because that could happen quick.


The other thing you have to realize is
with margin traders,

a lot of people are shorting right now,
which is not a good thing because

of course, that’s, you know, a different
type of pressure on the market.

And so we will see these large spikes

to the upside
during a downtrend to cover some shorts.

So I think it’s going to be interesting

to see what happens to Bitcoin here, of
course, Altcoins or the stronger player.

Now, we’re starting to see analysts

changed their opinion, saying,
oh, yeah, Altcoins are fine.

Well, you know,

for those have been to the Snipers,
you know, we’ve always been bullish

on Altcoins because it was the most
bullish chart in the market.

So what I’m really observing
right now is Ethereum chart.

So Bitcoin really starts to get
above that 52 week moving average.

It’s putting a Ethereum in a very nice

place where we could potentially start
coming up towards 3500 U.S. dollars.

That’s a massive range here.

I mean, we’re talking over 70 percent.

And that’s no surprise.

We’ve seen this happen before.

Notice here, when we got above 1980
in the 30th of April,

as soon as we crossed above that,
it was just day after day of green Candles

and we just spiked all the way
to upside before seeing the push down.


So this is a large range that we’re
in for above 1984, four Ethereum.

So Bitcoin getting above
that weekly 52 week.

That’s going to be huge here for Ethereum.

It could really bring Ethereum a lot

higher and outperform Bitcoin because the
London hard for kids coming on August 4th.

Of course, we want to monitor
that and the theory Bitcoin chart is very

bullish here at the fifty
and one day moving average.

So it’s not like Bitcoin, of course,

weigh in below the fifty day moving
average, not even be able to test it.

This chart is actually showing
some good price action.

And in the macro and micro,
this is a bullish pattern.

So I just want to monitor this because we

get back above sixty five
thousand Satoshi at any point.

That can be very bullish, doesn’t we.

We’re not going to see
the downside before that.

I think that’s still on the table

with Bitcoin undecided,
but sixty five thousand Satoshi is where

we’ll really see some price action I think
with Ethereum and that could really lead

some of these other
Altcoins total market cap.

Not much changing here,

but what we do want to keep track of is
others dominants chart holding this 200

day moving average right now
at this market, structural support.

This is really what I’m watching here over
the next few days into the next few weeks.

Is this going to see the push
to the upside or not?

Because if this starts moving
into the downside,

that would change the storyline
and Bitcoin dominance,

obviously not doing much as well,
since Altcoin dominance is also just

camping out and then
the traditional markets.

So tomorrow’s Friday, of course,
the DXY is still concerning inside

of the range of ninety two point sixty
two and ninety three point eighty two.

I think that’s clear with U.S. oil,

you know, did see that large push back
down to this one hundred movie hours.

We haven’t seen that effect
on the S&P 500 yet.

That doesn’t mean it’s
not going to happen.

And so I think that if something really
happens tomorrow coming into the close,

that would be a big concern
for Bitcoin into the weekend.

But if nothing happens and we just kind

of stay calm here at the DXY and the S&P
500 continues to discover Pricer,

maybe even former new all time high
tomorrow, then that would be the best

scenario for the whole overall market,
including Cryptocurrency that could.

Be the sign we want coming into the
weekend for assuming a bullish tread.

Now, interestingly enough,
we look at the Gold to Bitcoin chart.

We saw this daily candle yesterday

with a bearish engulfing,
failing to break out of this ascending

triangle, looking like it
wants to test the support.

We’re going to come down and test them on.

This is a very interesting chart.

This is how we predicted the top Bitcoin
here, just observing this triangle

in early April before it broke out
above the 50 day moving average.

And that’s when we started
assuming a rescue operation.

And so this twenty seventeen higher.
Sixty five.

Seventy six for the Gold to Bitcoin chart

is where the ratio of Gold
to Bitcoin was in twenty eighteen.

So the fact that we’re so close to it
right now is interesting to me.

We did break that came into this bull
market and now we’re coming to kind

of test this area with this
sort of bullish pattern.

I want to monitor this year.

In the next few days, I think
they can give us a lot of hints.

But what if gold is at its peak and we
start to see capital flow into Bitcoin

and we see this push down
that’s on the table.

But, you know, market structure wise,
this is a couple and handle for now.

So that’s very, very interesting to me.

I think this Gold the Bitcoin
chart is a good one to watch.

And with that, I appreciate each and every

one of you Snipers tuned
into the channel today.

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And with that, let’s see what happens

to you with Bitcoin at thirty
two thousand three hundred two.

Very interesting place to be.

It’s really a 50/50.

As I mentioned,
you have high cell pressure.

You’re having a cup of coffee.

We are below a major level right now.

You know, we could assume
that we’re forming a flag here.

It’s forming some Higher High.

That’s not the best in the micro.

Is that going to push back down?

I think the a lot of this is going to have

to depend on how the DXY
reacts into tomorrow.

If we continue to go side here,
you know, three to two thousand three

hundred, then it’s going
to really be undecided.

And that’s where we’re
monitoring more Altcoins,

because that’s where we’re
seeing the spikes to the upside.

While Bitcoin is just

having this cup of coffee at Starbucks,
as it always likes to do.

But this time it’s having a big cup
of coffee because it’s just below thirty

five thousand above thirty
thousand for quite some time now.

And so until we really see some volume

come in,
the path of least resistance is always

going to be sideways
to a little bit higher.

And with that, I appreciate
each and every one of you guys.

I kind of already concluded the video,
but what I do want to see is tomorrow

markets are closing and so the weekends
are going to be the most manipulated.

We will be updating all of our previous

weekly options into the weekend,
of course, and we will cover the close

tomorrow to see how we’re positioned
for the weekend so we can have a good idea

of, you know, what side we want
to trade on and things like that.

So thank you all for tuning in today
until next time Snipers out.



Naeem Al-Obaidi

Traders Profit Club (SnipersTube) is a community dedicated to creating knowledgeable & profitable traders in all markets.