BITCOIN PUMP COMING? MAJOR BTC UPDATE (and ethereum targets)

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Timestamps!
00:00 intro
02:52 bitcoin analysis
06:30 ethereum prediction
08:45 altcoins
10:00 traditional markets

Snipers, you have to see what’s happening

to the Bitcoin price today as we are
heading towards the forty one thousand

nine hundred and fifty
dollar resistance level.

Right now, you can see what today’s daily
Candles showing a bullish tale

with a continuation body above this weekly
open sitting at that 40000 big even.

The question is, are we going to be able

to get to this forty one thousand eight
hundred fifty dollars level and break out

to forty four thousand eight hundred
to test this 200 day moving average,

where we also have confluence
with the 20 week moving average.

We’re going to talk about this today

because that’s the scenario
that we really want to see.

If we want to potentially assume
that we’re seeing an overall reversal

in the sentiment of the market back
to a bullish trend where we’ll, of course,

change these curtains from red
to another color finally.

But until that happens,

we need to also address what the trick,
trap and frustrate crew could potentially

do here as we are at this
one day moving average.

And it looks like we’re seeing
what we want right now.

But if we start to see any downside,
we want to start addressing some of these

potential downside scenarios and this
thirty six thousand five hundred being

the major level below thirty
eight thousand right now.

And then we’ll also take a look at what’s
happening to Altcoins, Ethereum,

of course, for those have been tuned into
our channel over the last three months.

We’ve been extremely bullish on Ethereum

and also bullish on Altcoins, despite many
analysts saying Altcoin season is over.

Notice how Ethereum right now up here
to the Kandahar of twenty eight.

Forty three ninety eight today.

So two thousand eight hundred
and forty three dollars.

This is a major bullish rally that we’ve

been in over the last few weeks
heading into this London hard fought.

I want to talk about this Ethereum chart.

It’s going to continue above the three

thousand dollar big even and what
the potential targets could be if

that happens, because if Bitcoin starts
to move about forty one thousand nine

hundred and fifty,
I think this becomes a lot more likely

with a Ethereum moving above
three thousand US dollars.

And a lot of this has to do with the fact

that not only are we seeing volume
on the U.S. dollar,

but we’re seeing volume here
on the Bitcoin pairing,

meaning that a lot of people are starting
to switch their Bitcoin out for Ethereum

with this Ethereum to Bitcoin Muchin
above sixty five thousand.

She’s already trying to head towards this

next target at eighty
six thousand Satoshi.

And that would assume that from where
we’re currently at,

that’s a twenty five percent upside
against Bitcoin and that doesn’t even

factor in the U.S. dollar upside
that we can potentially have.

So I’m going to discuss the revolving

parts of the cryptocurrency market,
as we always do on the Snipers generally

the total market cap chart,
others dominance and Bitcoin dominance.

And then we’ll wrap up
with traditional markets.

You guys are watching the Snipers channel.
My name is Naeem.

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hit 100000 subscribers on our channel.

Let’s dove into this Bitcoin analysis.

We know the importance of getting above

forty one thousand nine hundred and fifty
is that will get to test the twenty week

moving average and the forty four thousand
eight hundred dollars level where we also

have confluence with the 200
day moving average.

And that means that if we continue to see

bullish momentum into our next daily
candle getting above the monthly open

at forty one thousand five hundred where
we have today’s Khandahar year at forty

one thousand three hundred and fifty,
that’s not a coincidence.

It’s testing the monthly open.
Right now.

We start to move about forty one thousand
nine hundred and fifty with decisiveness.

This means that we’re most likely going

to see a Ethereum above three thousand US
dollars and now Bitcoin has the chance

to test the twenty week moving average
and we can potentially even see the wick

to the forty nine thousand
seven hundred dollars level.

Keep that in mind if we
see this breakout occur.

But I need to address the Bears
and the Bulls on this channel.

And so I’m going to talk about what could
potentially happen if we start to see

Bitcoin back down to forty
thousand testing the weekly open.

If we start to come back down at this

point,
the thirty eight thousand dollars level is

going to be the area that I would call
shots at, because

since we’ve already tested thirty eight
thousand, this is a garden variety retest.

If we come back down, I would not
consider that garden variety.

And that puts us so close to thirty four
thousand seven hundred and eighty

in the fifty day moving average
that the potential for us to see at least

one more lower LOE form becomes a lot
higher below thirty eight thousand.

So

for those that want to go along at these

price levels now, have I taking
any decisive spot positions, you know,

into Bitcoin or Ethereum over
the last few weeks? Absolutely.

We’ve been buying Bitcoin around

the thirty one thousand dollar level
and Ethereum at the seventeen to eighteen

hundred dollar level during
some of these lower periods.

But with the prices at this level,
here’s really what I’d be concerned about.

If we come up, there’s a high
chance there could still be.

A rejection we could walk into this area.

Form a body resisting forty four thousand
eight hundred and then potentially see

some lower levels into the next few weeks,
that’s all on the table.

So I’m not concerned if Bitcoin continues
further up, we have our positions.

That’s why you want to always
take positions during dips.

But if we were to assume a new long

position at forty one thousand nine
hundred and fifty, I think that

we could potentially look at this forty
thousand dollar level where the weekly

open is as a stop loss,
about five percent.

And that takes us to about a
risk reward of five to six percent just

to come up and test forty
four thousand eight hundred.

That’s not worth it.
So I wouldn’t be long here.

And I see that because we know there’s

going to be resistance at this 200 day
moving average, 20 week moving average if

we get there and if only a six
percent potential upside.

But just the stop loss to this
weekly open is five percent.

That doesn’t look like
good risk to reward.

So check that out.

Sometimes I put up a long
trade and it’s a good idea.

And I’m honest with you guys today.
I just put up this launcher.

I looked at the percentage.

I said, no, that’s not a good idea because
I’m being honest, I’m your umpire.

So I’m just saying that what we’re
doing right now is probably not

focusing on Bitcoin,
but rather we’re seeing because of this

Bitcoin sideways price action
Altcoins are reacting.

And this is where the opportunities
starting to arise from.

So you may get distracted
following Bitcoin.

If we have this bullish trend with a
Ethereum, why not look at a Ethereum?

You have to be open minded above

the weekly and monthly open sitting
right at that twenty five fifty level.

This is a major level of support at this

point and we have
continuation of the upside.

Here’s the thing though.

We know three thousand
is a big resistance.

If we want to break this resistance,
we need Bitcoin to get above forty one

thousand nine hundred
and fifty as a start.

So there might not be as much upside there
for Bitcoin. But

if we were to assume a long position
for a Ethereum,

why don’t we just do something similar
to what we did just now with Bitcoin?

And we look at this weekly
and monthly open as a stop loss.

It’s about eight percent to an upside
of around twenty three percent.

So now we’re talking about a little bit

more of a proper trade here
if you want to go long.

Right.

You know, of course,
for those that have been to the Snipers

channel, we took our three
position here, 1760.

We didn’t come in at this retest just

because it was a knock
on a door for second time.

We higher risk, but at least we got this
solid spot positions at seventeen sixty.

We continue further up now.

We’re really banking off of these
positions we took earlier in June.

And so the expectation right now that it’d
be a smart idea to go long here.

I think that if you’re going to go long,

it should be with a Ethereum,
not Bitcoin just because

the upside here with the Ethereum
to Bitcoin chart justifies that we could

see more strength with
a theory than Bitcoin.

That’s a thesis that we’ve had
on this channel for a long time.

And so I’m expecting Ethereum
to move with Bitcoin as always does.

But if we get above forty one thousand

nine hundred fifty,
that might just be enough for Ethereum

to start heading towards thirty four fifty
four and and who knows,

that could be a strong breakout that we’ll
see when it comes to the downside.

Just keep twenty five fifty five
on the chart in the previous week looking

at twenty two hundred
and then I’ll talk about any downside

scenarios if we start to see
anything like that play out.

But I’m here to be an umpire and address

the charts for what it is, which is
an upward trend right now for Ethereum

and that’s leading other Altcoins being
leading indicator,

the largest Altcoin notice of the total
market cap chart now above the 200 day

moving average, finally heading
towards one point seven Trillion.

This is a huge
puzzle piece because now we’re testing

the twenty week moving
average for a second time.

We get above this level once again,
these curtains change from red.

So one point seventy five Trillion is what

we need to do right now
for the total market cap.

We need to see that level
here soon if we want to.

Some further upside in strength here

and in anything other than that assumes
sideways price action,

others dominance here,
showing strength here on the daily chart.

Specifically, you can see these converging

moving averages of the fifty period
and the two hundred appeared on the daily

chart is indicating there’s some sort
of a squeeze happening right now.

Let’s monitor this.

We haven’t seen the real move yet, though.

What we do know is that Bitcoin dominance

did reject the twenty week
moving average recently.

So this could be a continuation of Altcoin
season with a lot of strength because

Bitcoin dominance coming
down Altcoins coming up.

That means,
you know, the strength is in Altcoins

and specifically a Ethereum, which makes
up the majority of this others dominance.

And then let’s address traditional
markets as we always do.

The DXY is still showing calmness,
which is what we.

If we don’t want to assume abnormal
activity in the Cryptocurrency market,

so that’s good, the S&P 500 also
still in this tight range.

That’s exactly what we want to see here.

U.S. oil starting to recover
just like we expected.

And then Gold still sideways the calm.

This is what we want in traditional

markets so that there’s not too much
volatility in the Cryptocurrency market.

So that’s what I’m watching for Bitcoin.

There are several scenarios here.

We’re in a very tight range.

And of course, I’ve been saying that we’re

playing in the forty one thousand nine
hundred and fifty and the thirty eight

thousand dollar range, and that’s been
the truth here over the last few weeks.

So every analyst has other
numbers on their charts.

If you followed our numbers, you knew
the range that we’ve been playing in.

And so we get above

this forty one thousand nine
hundred fifty dollars a level.

That’s great.

And all at that point,
what we really want to see is a true

recovery above the 200 day moving
average in a 20 week moving average,

anything below thirty eight thousand,
I’ll start to be more concerned.

Is it the time to go
long year for Bitcoin?

If you want to go long,

it might be better with a theory based
on the percentage of risk to reward.

And with that summary,

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

I want to give away Principals

by Ray Radio, one of my favorite books
on value investing to one of you watching

the video and I’ll pick
a comment from yesterday.

Vinicius Ngonyama DeLara says,
Thank you for the puzzle pieces.

Naeem sent me a message on Instagram.

You want a book, Vinicius?

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

Once again, I couldn’t
do this without you.

I hope you enjoyed today’s analysis.

And until tomorrow, where

we’re going to start to see
a little bit more manipulation heading

into the weekend, it’s going to get
even more exciting for this market.

Remember to subscribe to our channel if

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And with that, I’ll see you
guys next time Snipers out.

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