EMERGENCY BITCOIN UPDATE!!! INSANE MOVE AROUND THE CORNER!!!

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

with Bitcoin testing $56,000 right now
with 17 hours left to go on this weekly.

And I had to get this video
update out to you guys.

Notice how right now we’re seeing this
curvature and we’re seeing some strength

and it’s the weekend,
which means that the market’s most

manipulated due to CME
features being closed.

And the likelihood right now that we
can come up and test 5353 is very high.

And notice how with Ethereum we did

initially come down, we formed
a huge Wick coming down to 34.

80 and now we are at 36 four trying

to retest this channel
resistance to get towards 36.

50.
If we break up 36.

50 and Bitcoin moves to the side or moves
up, the chances of a theory moving up

towards the four0 US dollar level
becomes highly probable as well.

And so we have to look at what’s happening
right now in the micro timeframes.

And here’s another major reason I need
to get this video out to you guys.

If we look at the total cryptocurrency
market cap chart because we are a four

dimensional channel, notice how we’re
testing this major structural resistance.

The actual dates back to when Bitcoin

topped out at 640 and we
had this lower high form.

We came back down,
tested the 200 day moving average,

and now we are testing this extremely
important resistance level.

What does this mean for the cryptocurrency

market with Bitcoin not really close
to 640, which was its high in May.

But the total market cap chart is coming

towards its May high sell Where’s
the liquidity coming from?

Oh, shine forming some new yearly highs

recently and some other altcoins moving to
the upside, forming new all time highs.

There’s obviously some capital
now flowing into altcoins.

The question is this chart
gonna break to the upside.

And if that happens, what is
Bitcoin dominance going to do?

Because we know Bitcoin dominance is

actually coming
and testing above the 20 week moving

average right now, once again, 17 hours
left to go for this weekly candle.

Does this really make sense so far?

It does make sense.

And if it walks like a duck,

and if it quacks like a duck,
eight out of ten times, it’s a duck.

And for those in our discord group,

you know, we’ve actually already taken
over seven day trades today

for Stellar Polk, do linear Finance,
Swipe Kusama all hitting targets,

which shows us that there is certainly
some volume coming into these markets.

We have the best trade signals
in the cryptocurrency market.

The link is in the description below

and our community has been
on fire in the crypto chat.

We have the number one crypto discord
trading community in the world.

We are going crazy in the chat right
now with this type of price action.

So let’s just dive into what’s happening

here on the three hour chart first
and foremost, notice how we are trying

to come up and break the recent
high here of 56,100.

If we start to move above 56,100,
we can certainly say that we’re going back

into price discovery,
at least for this short term rally.

And the $58,353 level
comes back on a table.

But more importantly,
because Bitcoin has seen this strength,

even if it does not come up to 58,000
and it stays inside of this channel,

which pretty much has
a support of around 53,000.

Towards that $56,000 level,

the opportunity for Ethereum to move
to the upside becomes highly probable just

with a consolidation
in Bitcoin price about 530.

And so the question is,

are we gonna be breaking this market
structural resistance getting about 36.

50 for Ethereum?

Well, a lot of this will have to do

with the Ethereum to Bitcoin chart
and notice how if we were to pull up this

Ethereum and Bitcoin chart, by the way,
I have removed it from our primary watch

list because as I’m about to head out
to speak, I’m going to be talking about

how we approach the market in a very
unique way, more unique than any other

analysts I’ve ever seen
in a four dimensional way.

And I consolidated what really matters

in a four dimensional analysis
of the financial markets.

And that’s really the total market cap

Bitcoin and a theory,
because they’re both institutionally

graded assets being the fact that they’re
the only coins that have CME futures.

And then, of course, Bitcoin dominance.

And the chart that shows all coins outside

of Bitcoin and Ethereum
and then the revolving parts.

So this is pretty much the 3D aspect.

And then the 4D comes in with watching

the DXY, which is the strength
of the dollar and then the largest

traditional markets, obviously the
New York Stock Exchange and the Nasdaq.

But I like to watch the Spy 500
because it excludes sectors.

And then we’ve got the Niki 225,
which is Japan’s stock market.

And then, of course,
the Shanghai composite, the EUR 100.

And then we watch the two biggest

commodities are at least the most
important ones, gold and oil.

And so I just wanted to mention that I
kind of switched up that was less.

But we will pull up this Ethereum
to Bitcoin chart because this does matter

right now that we are
actually below 650 Satoshis.

And what does that mean?

Well, that means now we’re in a range
that takes us 20% down to 53.

500 Satoshis if we’re not
able to get back above 650.

Soshi so I think that the first

confirmation of the Ethereum
price moving about 36.

50 is going to be seeing strength back

above 65,000 satoshis very important
to keep in mind from this video.

If we continue further down,

then the likelihood that we’re going
to see Ethereum stay below 36.

50 becomes highly probable.

So 650 to this key right now for Ethereum,

the question is, who’s gonna move first
Bitcoin or Ethereum Ethereum moves.

A lot of other altcoins will follow.

We really want to start monitoring

the demon Bitcoin chart to really see
where is the first move gonna come

and then, of course, right now,
with this Bitcoin price action coming back

towards 56,000, we are extremely
bullish into this weekend.

The question is, are we
gonna get this rug pulled?

Whoa.

Let’s look at this ascending
support level that started at 410.

We tested it at 470, and now guess what?

We already tested it for third time.

Is it the final breath for Bitcoin to come

to the upside or is this gonna
be where the rug gets pulled?

Sell.

Let’s look at what happened when Bitcoin
first went towards the $53,000 level.

Remember we talked about this yesterday we

came up and we had descending
buy volume on a three hour car.

Remember, I had to move my face.

Sell actually do it again.

Watch if we remove this
price action from the chart.

The 19% drop we saw in Bitcoin.

When we test the 530,
we can call that a rug pool.

Notice how we saw the descending by volume

and this is very similar
to what we’re seeing.

Now look, if you look down here,
notice how this volume

was descending and it’s kind of hard
to see because we have to remove the price

action from the chart
from where we drop to see it.

But there was descending
by volume through an uptrend.

And then we saw the rug get pulled,

which basically meant
massive market sell orders.

And that brought Bitcoin down.

So if we look at the current volume,
notice how so far still we have descending

volume, you can actually see it
more clearly on the six hour chart.

Notice how you can see descending volume
and higher high forming here for Bitcoin.

That’s a bearish divergence.

As I said yesterday,

this is gonna be a big puzzle
piece as sell it’s the weekend.

Anything could happen
when we form these higher high.

That’s also considered a bearish flag.
Right.

But Bitcoin on the weekend
can do whatever it wants.

Is this going to truly turn out to be

a bearish flight to test 49,700 or is
it just going to continue to upside?

I think that either one of these
snares are highly probable.

Sometimes what we’ll see
is both of them happen.

And how that could happen is we wake
up and we quickly come back down.

And if that happens, of course,

you’re going to be getting that trade
signal if you’re in the discord to short,

because that would be a very big money
play knowing that when you come down,

you take the elevator when you come up,
usually take the stairs.

We saw that when we test to 53,000.

And throughout this push to the upside,
we’ve pretty much taken the stairs.

I mean, this $1.3 billion Bitcoin
purchase on October 6 from an under

the buyers that obviously
took the elevator up.

But notice how when we came down

from 53,000, we certainly
took the elevator down.

So more often than not, you take
the elevator when you come down.

Same thing that happened when Bitcoin
topped out at 64,000,

we ended up taking the elevator down
once this consolidation was over.

And so that’s why shorts positions
are also very profitable.

But we really want to be monitoring,

you know, the Bitcoin consolidation
between 53,050 6000 right now,

because that’s gonna really give us the
best indicator of what’s going to happen.

And then with Ethereum, of course,
we have this six hour bullish tail.

It did close red,

though on the last candle question is,
are we gonna break above 36.

50 once again, 650 satoshis
is the key to that.

And just to quickly look at Bitcoin

dominance on a smaller time frame,
we’re still at these higher levels,

but we are below the 20 week
moving average right now.

We want to monitor this.

We start to move up.

That could be a sign of concern.

And that would also assume probably
that the the Bitcoin charts coming down.

I think that would be more likely
if we were about to see a dump.

And so if we see Bitcoin down has come

down, that’s even a more positive thing
to not see a dump,

because that gives a little bit
of breathing room for all coins.

But what I think is the most interesting

of all of this is the fact that Bitcoin
dominance is coming up to test the 20 week

moving average with the total market
cap testing this major resistance.

Because remember,

in order for Bitcoin dominance to come up,
there has to be a reason.

And I’ve always assumed based

on the patterns of the past, like 20, 17,
18, that the reason Bitcoin dominance

would come above the 20 week moving
average with strength like the DXY has

done over the last few weeks is
the total market cap comes down.

But if we start to move up,

it would be very odd that Bitcoin
dominance moves up with the total

cryptocurrency market
cap and other all coins.

And the reason I say that is because

Bitcoin dominance is moving above
the 20 week moving average.

The narrative of all coins also doing well

would sort of
discredit the fact that the total market

cap is going to have to move higher
with all coins, because

throughout the altcoin season that we saw,
with the total market cap moving further

up, Bitcoin dominance
continue to move down.

Notice here May 2021 from April
to May 2021, we formed this high.

Look, April, we came up, we formed a high
here around two, two, five, 9 trillion.

And then in May we formed
a high of two five.

5 trillion.

And in April and May
for Bitcoin dominance.

Notice how April to May,
we were coming down.

And so

does that make sense if the total market

cap form that new high Bitcoin
images are coming down.

That’s what’s normal to see,
but it would be abnormal to see Bitcoin

dominance move up with the total
market cap moving up.

That’s why we’ve been slightly concerned

with this upside move and Spy
500 moving down and so forth.

We’re not going to cover
the tradition markets on Sunday.

Futures markets are open later today,

but that’s kind of the full
take not to confuse you guys.

I know there’s a lot of revolving parts.

You can always slow down the video,

rewatch it if you need to understand
it a little bit better.

But very interesting price
action here on the Sunday.

I have to go speak at this conference

with Mm crypto Carl the Moon
and DaVinci on a panel.

I actually might end up having the whole

panel to myself because of some
issues with passports and stuff.

So that happens, I might need a keynote,
which is not a big deal.

I’ve done it in the past,
so we’ll see it’s.

Gonna be interesting,
but I’m gonna head out there and thank you

all for tuning into the Snipers
channel this Sunday.

Have a fun day.

And until next time.

By the way, I haven’t slept in 24 hours.

I’ll see you guys soon.

Snipers out.