ETHEREUM LONDON HARD FORK PUMP! (eth prediction and targets)
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Timestamps!
00:00 intro
02:44 bitcoin update
04:58 ethereum analysis
06:55 altcoins
Snipers, you have to see what’s happening
to the Bitcoin price this Saturday as
the bulls are fighting to break forty one
thousand nine hundred and fifty,
but we’ve yet to see a decisive break
of this major resistance level.
Remember, the range that we’re playing
in this weekend is the thirty eight
thousand to forty one thousand nine
hundred and fifty dollar level.
We get above forty one thousand
nine hundred and fifty.
The importance of that is that we get
to test forty four thousand eight hundred
where we have the 20 week moving average
in the 200 day moving average,
and we could potentially even wick up
to the forty nine thousand
seven hundred dollars level.
I want to talk about this
scenario playing out.
But while Bitcoin is having this cup
of coffee at forty one thousand nine
hundred and fifty,
guess what’s happening to Altcoins?
Ethereum leading the pack up over
four percent against Bitcoin today.
Notice of the Ethereum,
the US dollar price right now showing
a candle high of twenty five.
Forty three.
And I told you guys over the last few
weeks, Altcoins season
is certainly not over.
And now the Ethereum is at this extremely
important resistance
of the 100 day moving average.
If we see a break above this twenty five
hundred dollars level with decisiveness,
especially Bitcoin moves above forty one
thousand nine hundred fifty,
the potential of Ethereum reaching thirty
four hundred US dollars,
which from the current price to the thirty
four hundred dollars level is thirty five
percent upside becomes a lot more likely.
And this is no surprise for those have
been tuned in to the Snipers channel.
We know Altcoin season has
certainly not finished.
The theme to Bitcoin chart still has room
to go to the sixty five
thousand Santoshi level.
So we’ll look at Ethereum and then
the other revolving parts of the market,
the total Cryptocurrency market cap
above the 200 day moving average.
Others dominance sitting at the 200 day
moving average and Bitcoin dominants
testing the 20 week moving average.
This is going to be a very big
puzzle piece coming into this week.
What I’m going to be monitoring is Bitcoin
dominance testing this week moving
average, or are we going to be seeing
a rejection and a continuation of
Altcoins season with strength,
or are we going to break above this 20
week moving average and then have to talk
about a potential reversal in trend?
That’s certainly on the table today?
I’m going to talk about what I’m going
to watch as sun comes tomorrow,
futures markets open.
We start to see where institutions are
hedging their bets,
and then we can get a better idea of where
price action will go later this week.
You guys are watching the Snipers
channel on a Saturday.
Remember to smash like one for the YouTube
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First, I want to talk about Bitcoin
on the weekly chart
because we are coming close to this twenty
week moving average and this weekly
Kindle has twenty four hours left.
The fact of the matter is we have a
bullish tale from last week’s candle.
We have a bullish continuation body
for this week’s Weekly Candle,
and we still have the opportunity right
now to come and test forty four thousand
eight hundred where we have this
twenty week moving average.
And don’t be surprised if we start to see
momentum above forty one thousand nine
hundred and fifty for us to potentially
even wick towards the forty nine
thousand seven hundred dollars level.
But this is all going to be dependent
on what happens to Bitcoin at this forty
one thousand nine hundred
and fifty dollars level.
Remember, it’s the weekend we
have to be more freestyle.
We move into the daily chart because
everything more from the smaller time
frames into the larger time frames.
The daily candle from yesterday is
an extremely bullish
candle that looks like it wants to push
Bitcoin to forty four
thousand eight hundred.
If we start to see the decisive break
on the 4-hour chart of this forty one
thousand nine hundred and fifty dollar
level, we can certainly expect us to test
the twenty week moving average,
in my opinion, at this forty four thousand
eight hundred dollars level
and potentially even wake up to the forty
nine thousand seven hundred dollars level.
That is certainly on the table
at any point in time.
Now, when it comes to the potential
sideways price action or downside scenario
here, thirty eight thousand is
the major support at this point.
As long as we stay above thirty eight
thousand, then the consolidation
could move us to the side.
And I would still be OK with that because
that would give Altcoins more
opportunities to run up.
And then Bitcoin still has opportunity
to come test the twenty moving
average at some point or another.
But we don’t want to break below this
thirty thousand dollars level at this
point below that is thirty six thousand
five hundred and then below that is
my floor at thirty four thousand seven
hundred eighty eight where we have
confidence with the monthly open.
That’s the level.
I definitely don’t want to see if we want
to some continuation for the upside
when it comes to Bitcoin.
And because we’re still
in a consolidation, we’re starting
to see Altcoins move against.
Bitcoin an outperform Bitcoin no surprise,
the Ethereum the US dollar price right now
at twenty five hundred U.S. dollars above
all major moving averages on the daily
chart you can see here even this
potential death cross was avoided.
And here’s what I’m watching
for Ethereum at this point.
Of course, if Bitcoin continues further
up, that’s going to be the confirmation
that the upside scenario
for Ethereum is coming to fruition.
If Bitcoin continues to see sideways price
action, it’s a possibility of Bitcoin
comes further down, then we have
to monitor nineteen eighty.
But we have this massive range right now
and we have so much cushion
to the downside support,
which is about a 20 percent
range that we could see 20 percent
downside for Ethereum and still be
in a bullish range that could take us
to thirty four,
fifty four which is the next level
and destination and resistance level.
So
a lot of you guys have asked me
on the Discord, what’s your expectation
for the performance of Ethereum right now?
Well, this is pretty simple.
Let’s take the Ethereum to Bitcoin chart
and look at where it’s at right now.
And we know the sixty five thousand
Satoshi level will be extremely
easy for this chart to get to.
And that’s about a seven percent
upside from where we’re at right
now at sixty thousand Satoshi.
So right now, the potential and the ease
of Ethereum getting to twenty
seven hundred is very likely.
And the thing is, if we start moving up
towards 65000 to Tosches,
the US dollar price of Ethereum
gets the twenty seven hundred.
At any point we could see a very strong
push to the upside to retest this
thirty four fifty four area.
So we need to keep this all on the table
and realize that the most important thing
that we’re going to be monitoring
throughout this week is going to be
the Altcoins and specifically
Bitcoin dominants.
So the total Cryptocurrency market cap is
above the 200 day moving average,
which is sitting at one point
six Trillion right now.
That’s a positive thing.
We get above this one
hundred day moving average.
Now we’re above all daily moving averages.
That’s what we want to see if
we want to assume a potential
rescue operation that could see further
highs for the total market cap
beyond the two trillion level,
because realize that the 20 week moving
average is sitting at one
point seventy five Trillion.
So we can get above that.
Any time you’re above the twenty week
moving average, you’re in a very clear
bullish trend, as we saw here when we
tested this twenty week moving average
on August of twenty twenty
and we stayed above it.
That allowed the total Cryptocurrency
market cap to go from around that five
to six hundred billion dollar
range all the way to to Trillion.
So we get back above this
twenty week moving average.
That’s going to be a huge puzzle
piece to watch into this week.
But what we’re really going to be
monitoring is the Bitcoin dominance chart,
as I just mentioned, because
what we need to see here is
this 20 week moving average being tested.
Is this going to be a rejection
or a potential reversal in trend?
That’s going to be the major puzzle piece
that I want to leave you guys with.
And with that,
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And with that,
I hope you guys enjoy today’s
analysis until next time Snipers out.
