BITCOIN RESCUE OPERATION SUCCEEDING❓❓❓(weekend manipulation)

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My Interview w/ Founder Of Cardano & Ethereum!
https://youtu.be/j-xhUSTDVxE​ (Charles Hoskinson Interview)

Timestamps!
00:00 video summary
04:24 bitcoin prediction
07:50 ethereum analysis
09:05 altcoins
09:35 traditional markets
11:00 conclusions

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

Saturday, as Bitcoin has maintained itself
below thirty five thousand US dollars,

and it is clear that the bears are
defending the 50 day moving average right

now, where we also have confluence
with the weekly and monthly open,

along with the thirty four thousand seven
hundred and eighty dollar resistance

level, and Altcoins are not
necessarily seeing anything violent.

Notice how the total Cryptocurrency market
kept down one point sixty five percent,

while Bitcoin down one
point to five percent.

Ethereum not necessarily being too
weak or strong against Bitcoin.

We’re just seeing normal fluctuations.

But what’s more important is tomorrow
we’re going to be seeing weekly Candles

close and we want to address what we’re
watching as we start to see futures

markets open, because that’s going to give
us a hint as to where institutions are

placing their early bets in the week and
how we can expect the overall week to go.

Notice how with Bitcoin on the weekly

chart, we have not tested this 50 week
moving average, which in my opinion is

a positive thing because we’ve only tested
it with one weekly candle and

garden variety market behavior says when
you reach a destination and you

immediately turn around, that
that typically is the final destination.

Right?
If you’re having a cup of coffee, though,

that typically means that
that’s not the final destination.

There could be another
destination in mind.

But if we were to just look at the weekly
chart and say to ourselves, all right,

Bitcoin has only seen a test
of the 52 week moving average.

Yes, we broke home base at the 20
week moving average here.

Obviously, that was the top four
Bitcoin into this bear cycle.

But if we’re able to hold the 52 week

moving average and we never come back down
to test it, this could be a puzzle piece,

assuming that we’ve seen
the worst of the downside.

And that would have been
on the 21st of June,

where we saw the weekly Candles come down
to twenty eight thousand eight hundred

and five U.S. dollars
in the Finance US chart.

So that’s a big puzzle piece.

We need to talk about the weekly
Candles closing tomorrow.

And if we start to see bullish price

action come back towards thirty four
thousand seven hundred and eighty eight.

That to me is going to be the final
confirmation that we’ve seen the worst

of this because
the 50 day moving average now is so close

to thirty four thousand seven
hundred and eighty eight.

The weekly a monthly open, of course,

that now that we get some strength
to thirty four thousand seven hundred

eight, the bulls really have a chance
to rescue the fifty day moving average.

And that would be the first time
since we saw this bear cycle.

Now we can start assuming a retest,
the 40000 potentially come down

and then in the latter part of this year,
December, maybe come back up to the fifty

thousand dollar level where we might
have the 200 day moving average.

That’s all off the table for now.

But what really matters is
how is this week?

We can we’re going to close we’re going

to talk about that today and then
address a little bit of Altcoins.

But more importantly,
what we’re watching with traditional

markets like the DXY
ending the week on Friday with this

bearish tale bearish candle,
does that mean that institutions are

deploying their US dollars
into other assets?

Well, US oil, of course,
starting to come up.

Commodities are good leading indicator.
The S&P.

Five hundred out of nowhere.

After seeing this extremely bearish price
action on Thursday,

we immediately recovered to see
new all time highs on Friday.

Is this real or are we going to see
continuation that matters for Bitcoin

because S&P 500 strong DXY
stabilizing or coming down could really

affect
Bitcoin, which will then affect

the Altcoins because it’s clear
right now the Altcoins are not doing

extremely bad.

They’re really just mimicking
Bitcoin and that’s not a bad thing.

I think that that’s going to be

the storyline until we can rescue thirty
four thousand seven hundred eighty eight.

And you guys are watching
the Snipers Cardano.

My name is Naeem Alobaidi.

I don’t want to keep going
into the analysis before the intro because

I need to remind you guys to smash
the like one for the ETH algorithm.

So I’m already into this Bitcoin analysis.

I always get into my analysis.

I just love charts.
It’s an art and a science.

Right Bitcoin right now.

The fact of the matter is that we’ve yet

to come up to thirty four
thousand seven hundred eighty.

And that to me is the biggest concern

because we don’t have to go
into the volume profile.

We know that at any point in time right

now, Bitcoin is in a range that can take
us to twenty six thousand US dollars,

and that’s going to be a fact until we
can get above thirty five thousand.

So the reason that’s a fact is the weekly
and monthly open confirm to all of us

that thirty five thousand
indeed is a important level.

So

with the fifty day moving average coming

so close to thirty five thousand Dow,
this is the first time.

That we’ve got the 50 moving
average to this level,

we start to come up to thirty five

thousand now we’re really starting
to see the blueprint change.

We get to thirty six thousand six hundred,
which is currently the previous weekly

open for those that are
tuned in to our channel.

We always have our previous weekly Open
and Green that’s going to reset tomorrow.

That’s going to assume that

on the weekly chart, all we saw was
a test of the 50 week moving average.

We get about thirty four
thousand seven hundred eight.

Now, we can really go into a more bullish

mindset, but for now,
if we stay below thirty five thousand

at any point in time, we could see
cell pressure come from the downside.

And if that happens,

I believe Bitcoin will not be below
twenty eight thousand dollars.

And that’s worst case scenario.

If we see downside pressure,

I think that twenty thousand
is this channel support.

It makes sense to form a lower low here
to stay inside of this flag.

But if we see a test
I’m sorry, of the fifty

I’m sorry, the

twenty six thousand dollar level,

we know there’s a lot of volume
below thirty thousand.

Now we can start to see institutional

pressure that would only give us
a wick below twenty eight thousand.

So

that’s why I’m telling you guys have those

big orders below twenty six thousand,
up to twenty thousand just in case,

because there’s a lot of pressure here
and you would much rather have a position

at twenty six thousand than twenty eight
thousand, because if we do just see

a wick, that means that we could just
maintain price action above twenty

thousand for a while and then eventually
work our way back up to thirty five.

Right at that point we can start looking
at a bullish scenario,

but I think we’re closer to the bottom
than most people think.

And I see that because it’s not just
what’s happening on the charts,

but it’s also the on chain metrics
you see with realized losses.

We’ve seen the most amount of realized

losses in the history of Bitcoin as an
asset, and that was a couple of days ago.

And so I think it was over three
billion and realized losses.

And that typically is only something
that occurs during capitulation phases.

Right.

So we hear Kathy Wood from our
talk about that a lot.

And so a lot of the signs of on chain
metrics are leading us towards the.

Idea that

we are in a capitulation phase,

which means that from here we only
could really see upside, right.

And so that’s why I’m so confident
that below twenty six thousand,

we only see a week if
that happened on the downside.

So I want to talk about Altcoins just

a little bit Ethereum coming back
down to this 200 day moving average.

1980 is the big level here.
We get below 1980.

I think that would only happen if we

break thirty thousand with a Bitcoin
because we break thirty thousand.

That means we’re seeing a lot of volume.

It’s going to take a lot
of pressure to break.

Thirty thousand, you know,
there’s a lot of buyers there.

So if we see enough sell pressure
on the order books,

I think that’s also going to cause a
Ethereum to break 1980 and the same way.

Twenty six thousand is those prime entries

for Bitcoin, I think
from 1760 to fourteen forty range.

That’s also the prime entry for Ethereum

that leads us towards
that previous all time high.

And of course, if if we start to see more

strength with the Ethereum to Bitcoin
chart, then Ethereum is going to be even

better of a play than Bitcoin because
we get above sixty five thousand Tosches,

we get back above the 50
day moving average.

That’s bullish.

I’m not surprised, though,
that we’re back below the 50 day moving

average because Bitcoin is not
above thirty five thousand.

So there’s still fear in the market.

You look at the Fear and greed index
at 20 right now, it’s a lot of fear.

And so with this coming down,
if we form another low in the macro

doesn’t matter because
we’re in a bullish trend.

So you guys know that.

And so we’ll monitor this.

But Altcoins are not doing too bad.

That’s why the market cap here

at the total is sitting at the toilet
and moving average,

and it’s pretty much mimicking Bitcoin’s
price action as much as possible.

Right.
And so you stick to those fundamentally

sound coins like Cardano,
Ethereum, and you’ll be fine.

Right?
Others dominoes also not doing anything

new, but still the most bullish chart
right now, Bitcoin dominance,

still fighting to to, you know,
maintain itself with this weekly monthly

open, still below this one
hundred day moving average.

And when we look at traditional markets,
they are going to be opening up here.

Futures tomorrow.
Of course,

I’m going to be monitoring the DXY,
and I really want to see whether or not

this is going to break ninety one point
nine two, because that would signal

that we’re kind of coming back
into a downtrend because you kind of see

there’s a peak here and it kind
of shows confidence in this area.

We get down here that’s
very positive for assets.

But if we stay above ninety one point
nine to then that’s not a bad thing.

We just don’t want to see your price
action get above ninety two point six two,

because that brings the volatility
up to that 94 range.

And we don’t want that for the DXY because

that right here, this range is
going to hurt traditional markets.

But I think commodities are going to be
the real leading indicator to this.

So what I’m watching is we have this
weekly open here for US oil, for example.

And at seventy five,
if we can get above 75

into next week as we start to see futures
open, that would assume to me that this is

real and that we’re going
to see continued upside here.

And that would be a very positive thing.

But we see a rejection here.

Then this could have just been a fake out.
Right?

So I’m going to be watching commodities.

I think that that’s kind of what we
really want to monitor right now.

With the S&P 500 closing Friday with new
all time highs, that right there is a,

you know, reason to watch these markets
because we know that that’s going

to affect the Cryptocurrency market
and the confidence in the markets.

So I hope you guys enjoy today’s analysis.

I know we went a little bit in depth.

I want to give away one of my favorite

books on value investing to want
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Tom Joyner says the new kid on the block,

the Ethereum, is going to keep
the bull run and Altcoin season going.

Yes, we’ve been sticking to our analysis
and I’m here to be an umpire,

so I’m always going to give you guys
the honest perspective.

And the fact of the matter is,
others dominance was above the twenty week

moving average for so long that it
was the most bullish chart in Crypto.

So I stayed bullish on Altcoins,

but I was very clear that it was specific
Altcoins like maker Dow, for example,

the largest decentralized
organization or Ethereum.

Right.
So that’s where you want your money.

You don’t want it in the Naeem coins

because those are the ones that see the
worst downside during these bear cycles.

Right.

So with that, thank you
all for tuning in today.

I appreciate each and every one of you

Snipers tune into our channel and I
will see you guys on a Sunday tomorrow.

When we see futures markets open,

our previous weekly open on our charts
will be updated and will go from there

and see how the week is going
to unfold until next time Snipers out.