BITCOIN MOVE IN THE NEXT FEW HOURS (major squeeze right now)

Naeem Al-Obaidi
7 min readJun 20, 2021

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00:00 video summary

04:03 bitcoin analysis

06:28 altcoins prediction

Snipers, you have to see what’s happening
with the Cryptocurrency market today as

Bitcoin daily Candles right now has a low
of thirty four thousand eight hundred.

It is not a coincidence that our major

support at thirty four thousand seven
hundred and eighty has yet to be tested.

But we did come down and test this
extremely important support level.

We have yet to touch the major area

at thirty four thousand seven
hundred and eighty eight.

However, we can start to look at the more
micro timeframes to assume the psychology

that the price action is
telling us on the chart.

When we first came down
to test this level.

And right now, as an umpire,
you have to realize we came down to thirty

four thousand eight hundred just
at this extremely important support.

It’s not a coincidence that this is

exactly where Bitcoin started to come
right back up and notice how the cell

pressure was not
bought back up and there were no bulls

in sight coming down to thirty
four thousand eight hundred.

And so this tells me as an umpire,

the psychology of what has occurred is

the bears took the price down
to thirty four thousand eight hundred.

The extremely important support,
they realized there were no buyers

and then they allowed Bitcoin to follow
the path of least resistance,

which is always going to be
sideways to a little bit higher.

But that doesn’t mean we’ll be able
to cross major resistance levels because

notice how we came to thirty six thousand
five hundred, which was also an extremely

important level that we
talked about yesterday.

And we have yet to cross above.

That’s not a coincidence.

Once again, for those that have been tuned

in to the Snipers channel that are
numbers are extremely important.

These are numbers that we’ve had
on our chart for months at this point.

And so at this point,
because we didn’t see buyers come in here

at the test of thirty four thousand seven
hundred and eighty eight,

I’m going to have to be honest and say as
an umpire that tells me that if we’re not

able to get above thirty six thousand
five hundred, it’s the weekend.

It’s the most manipulated
in the Cryptocurrency market.

That means that we’re most likely to come

back down, retest this level,
because at this point,

as I mentioned earlier, the bears
just paused what they were already going

to do at the major support, and they
realized there were no bulls in sight.

And so they could have taken
the price further down.

But you can see they stopped,
but there were no bulls in sight.

That is a major puzzle piece on a micro

time frame, which always morphs
into the larger time frame.

So, yes, this is a one minute chart,
but that morphs into the five minutes

into the 15 minutes chart,
into the two hundred and forty minute

chart, which is the 4-hour
chart and then the daily chart.


So a lot of puzzle pieces
on the table today.

And then we’re going to take a look
at what’s happening to Altcoins,

because we look at Ethereum
right now to the Bitcoin chart.

We are still seeing weakness here below

the weekly open and monthly open heading
towards our target of fifty three thousand

five hundred to socialism because Ethereum
is the largest Altcoin is going

to influence the other
Altcoins and Ethereum.

US dollar price is reacting to this,

seeing a new low yesterday at twenty one
thirty nine, heading towards that two

thousand dollars big even most likely
going to come in test 1980 and 1760.

This 200 day moving average now
is on the table for Ethereum.

And when we look at the total
Cryptocurrency market cap chart still

above the 200 day moving average,
which is positive and others dominance is

still showing strength,
having a cup of coffee at the 100 year

moving average and most importantly,
above the 20 week moving average.

So so far, the dominant levels are looking
good for Altcoins Bitcoin dominance.

Of course, starting to just kind of
come back and curve towards this fifty day

moving average, showing that it wants
to just have a little bit of cool off.

This could be a positive thing to see this

as a high and a lower high because
that would assume we could see a potential

lower low form a flag and maybe towards
the start of July into mid-July,

we see a reversal in Bitcoin dominance
that all is on the table.

We’re going to be monitoring these charts
for those tuned in to the Snipers channel.

My name is Naeem Alobaidi.

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for the YouTube algorithm.

First, I want to talk about
what’s happening to Bitcoin.

So it’s death cross.

There you can see the fifty period moving

average crossing below this two
hundred period moving average.

We all know the Death Cross is here now.

What is Bitcoin’s price doing while
this death cross is occurring?

Well, we’re testing a very important key
support level, which would be a door that,

if it were to open, could take us towards
the twenty four thousand dollar level,

which is an over
thirty percent downside if thirty four

thousand seven hundred
and eighty eight breaks.

And there’s

no coincidence here that today’s daily
Candelo is thirty four thousand eight

hundred, that to me says that it’s coming
time for Bitcoin to make a decision here.

And the fact of the matter is we weren’t
able to get above thirty six thousand five

hundred and at this point we’re still
below thirty six thousand five hundred.

We have this 4-hour indecision candle.

You can see we had this indecision Candles

with the first retest of thirty
four thousand eight hundred.

And we didn’t see a bullish engulfing,
we just saw another indecision, Cantor,

a weaker one, because it only stayed
within the body of the previous candle.

And then we’re seeing a little bit
of a push to the upside above the previous

weekly open, but still being rejected
by thirty six thousand five hundred.

This major structural resistance level.

It’s coming to a point where we’re going

to see Bitcoin make a decision and I’m
going to stick to what I’ve stuck to over

the last month, thirty six
thousand five hundred.

If this level breaks,

we are now playing a dangerous game where
we could start to see weeks

into the thirty thousand to twenty
four thousand dollar level.

We don’t know how severe this could be.

And this is going to be, in my opinion,
the true adjustment of Bitcoin price

against what’s happening to the DXY,
which will look at tomorrow as we start

to see futures markets open
later in the afternoon tomorrow.

So with Bitcoin crossing below thirty four

thousand eight hundred,
that would be a very dangerous game.

We have to be extremely
careful in this range.

Now, I think some Altcoins
are going to do fine.

Some Altcoins might bleed.
Who knows?

Now, for the upside scenario,

let’s say a miracle happens,
thirty six thousand five hundred.

If we can get above that,

we have thirty seven thousand
two hundred the monthly open.

That’s where I would start to feel
a little bit more comfortable with us not

coming back down and seeing
the downside scenario.

But we need to get above thirty seven
thousand two hundred the monthly open if

we want to start assuming further
upside potential for Bitcoin.

And with that, I want to talk about

Altcoins because
I don’t think every Altcoin is going

to react the same way if we see a downside
or even an upside push with Bitcoin.

So we have to realize with Ethereum
to Bitcoin, it looks like we want to come

down, test the 2000 big even maybe
test this 200 day moving average.

So that’s fine.
Ethereum, the largest Altcoin.

If we come down,
maybe we form this bullish flag as we’ve

been talking about, and then we see
a nice entry here at that one hundred.

We’re moving average maybe
through the end of this month.

That’s on the table with the total
Cryptocurrency market cap chart.

We want to monitor this
200 day moving average.

I think if we breach this,
we’re going to see more Altcoins bleed.

If we don’t breach this,
then that would be a positive thing.

So it’s sitting at one point four
trillion dollars in market cap.

We want to maintain
that and then others dominance.

Still having a cup of coffee.

We want to watch this twenty week
moving average into this next week.

If we stay above it, it’s positive.

If we start to cross below is when we’d

have to start assuming a different
story line into Q3 and Q4.

And right now the story line is
we’re still in Altcoin season.

But that could change,

especially if Bitcoin comes up and tests
the twenty week moving average.

I think it’ll come to around 50 percent

at some point and I think
that’s highly likely.

Maybe we come down form more of this
bullish flag, these higher highs,

these lower highs, and then, you know,
towards the end of the month we come up.

That’s all on the table and we’ll
always cover it for you guys.

Tuned in to the Snipers
channel, as always.

And I want to give away one of my favorite

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by Andrius Entrepreneurs.

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I appreciate each and every
one of you Snipers.

Thank you so much for giving me

the opportunity to share
my thoughts with you guys.

It’s amazing to see your comments.

Let’s see.

Russ Metohija says Naeem
don’t know if you’re a papà.

If yes.

Happy Father’s Day weekend to you
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Happy Father’s Day to one and all.

Well, happy Father’s Day
to all the fathers out there.

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And with that, 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.