ETHEREUM PUMP INCOMING!!! DO NOT SHORT RIGHT NOW (& bitcoin)

Snipers, you have to see what’s happening
in the Bitcoin price this Friday.

We’re heading to the weekend where
the markets are the most manipulated just

to CME features being closed
with today’s candle hive at 56.

100.

But we do have a bearish tail.

And yesterday we did
see a red daily candle.

There’s a lot to talk about today.

We’re gonna talk about what we’ve been

monitoring over the last few weeks like
Bitcoin dominance crossing above the 20.

We moving average for the first time since

January of 2021,
when altcoins season started.

Of course, we did see a rejection so far,

and that’s totally garden
variety market behavior.

But the question is,
how is this gonna affect the macro

environment and is Bitcoin dominance
going to continue to the upside?

Because if that happens,
that assumes that the total cryptocurrency

market cap is coming down and we’re seeing
fear in the market and we’re seeing

institutions hedge away their
altcoins back into Bitcoin.

So the question is,

are we going to be seeing this rejection
for this total cryptocurrency market cap

chart into this weekend
and some potential downside?

There’s a lot to talk about today.

You guys are watching the snipers channel.

Let’s first dive into this
Bitcoin Intraday analysis.

Now I want to talk about Ethereum because
we may see Ethereum push to the upside if

Bitcoin stays in this higher range
and does not necessarily see a massive

dump over the next 24
hours with a 30 ETH 36.

30 already coming above 36.

50, this is gonna be
a huge part of this video.

But let’s first talk about Bitcoin.

Let’s go into the six hour chart.
First and foremost,

we know there’s a bearish tail right now
with this Bitcoin daily chart,

but obviously the daily
candle has yet to close.

We have 9 hours left.

The question is now that we’re forming
these higher high that’s typically

considered a bearish flag and these
more than likely we’ll break down.

But because we’ve seen the upside momentum
about 49, 700, the question is,

are we gonna be able to come and test 50
ETH 353 before that happens,

sell on the six hour chart we’re
seeing descending by volume right now.

That’s a big puzzle piece.

And if we were to actually just open this
chart up a little bit more,

notice how we’ve yet to see the type
of intensity of by pressure to match

the the sell pressure
that brought us down from 530.

That’s what we’ve been watching here

the Cypress Channel that tells me
that at any point in time, this move could

pushed to the downside to retest
the structural support which was previous

resistance sitting just
at that $49,700 level.

And if we were to just kind of talk about
the candles that we have right now

with this descending by pressure,
it does look like Bitcoin wants to just

kind of consolidate and range
inside of this range.

I would say of a candle low here
of 53,350 with the candle height 56,100.

And I believe Bitcoin is
able to stay in this range.

There’s a potential we could see
Ethereum finally push about 36.

50 towards 39.

59 pretty much $4,000.

And that is all going to have to do ETH,

whether or not we’re going to be able
to stay in this range for Bitcoin.

And so I want to first look at what’s

happening here on the three hour chart
before we go into the smaller timeframes

and notice here on the three hour chart,
we are maintaining this ascending support

level so far we haven’t
actually even tested it yet.

So we do have some breathing room

for Bitcoin to even see some further
downside towards 53,900 before potentially

seeing some more
by pressure to the upside.

And then if we look at a more macro,
I wouldn’t say it’s extremely macro.

I would say this is more
of a medium term support level.

We do have this support that kind

of started at $40,000,
it got tested and we came down to $47,000,

and now we’ve yet to even
come and test this level.

So with Bitcoin really having
the opportunity to range between 49,750.

8300, the question is,
how are all going going to perform?

I think that when it comes to Ethereum,

that would probably be the best bet if
Bitcoin isn’t going to see major downside

there’s that potential we could be
seeing Ethereum move to the upside.

And then if we go into the 15 minutes
chart, I want you guys to see the retail

pressure that we’re seeing
right now with Bitcoin.

Sell me that after we saw this $1.3
billion Bitcoin purchase from an unknown

buyers in October 6,
if we were to remove this price action

from the charts that we can really get
an idea of what the true volume has been

since that move, notice how we’ve
seen these spikes of sell pressure.

And we’ve finally seen some by pressure

from retail,
and that allowed Bitcoin to form a new

daily height compared
to what it did yesterday.

But we’re still seeing the ground

of retail volume sort of fertile
here with sellers more than buyers.

And the reason I say that is notice how
these little pockets of volume keep coming

in, and they’re always sell volume
not necessarily by volume.

And that tells me that there are certainly
retail investors selling in this range.

And so the real question is,

are the institutions gold to want to just
drive price up if people are selling

at this range, or are they gonna want
to even just drive price down at this

point to kind of get some more
accumulation into the lower price ranges?

I think that we’re really in a 50 50
being the midpoint of this channel.

But what that tells me is that there’s

still potential altcoins could see some
upside while Bitcoin is consolidating.

And for those inside of our discord group,

we actually took three day trades today
for avalanche, reserve rights,

token and AR USDT, all of them
have hit profit targets.

And so there’s obviously
some momentum in the market.

And for those that are in the crypto chat,
we’ve been getting a lot of participation

with charts being posted
almost every single minute.

We have the best community
in this whole market.

If you’re not in our discord.

The link is in the description below.

This tells me that there are a lot
of people really

undecided right now with where price
action is going to potentially go.

And that is obviously always going
to be how this market plays its game.

The markets always do
what we least expect.

So I think that being in this sensitive

area, we have to be open to shorts
at some point or another.

But with Ethereum showing strength

and with all of these daily candles
closing green, I think that before we see

a major push to the downside,
there is still a potential right now

Ethereum could drive itself to the upside,
and a lot of this is gonna have to do

with what happens to the Ethereum
and Bitcoin chart.

But just to understand what the next
price target for Ethereum would be, 39.

59 is the next level of resistance.

But remember, there’s always gonna be some

sort of pressure the midpoint of these
ranges, especially if it’s a large range.

And so I’m kind of eyeing this $3800 level

as well as a potential level where
if we break decisively above 36.

50 with hourly and four hour candles,

there’s that potential
3800 comes on the table.

And what’s interesting about that is if we

actually just measure the amount
of percentage from 36.

50 to 3800, it’s about 4% push
to the upside for Ethereum.

And when we go into the theory

in a Bitcoin chart,
notice how 650 Satoshis has already broke,

but we’re back above it
and that’s totally fine.

It’s a major support level,

and the monthly open is
sitting right at 690 Satoshis.

From the current price to where this

monthly open is,
it’s sitting at about a 3% range.

The weekly open is sitting
right around that 6% range.

So I think that maybe a four to five,
maybe 6% pushed the upside for Ethereum

could be the last breath if Bitcoin
doesn’t continue to see upside and only

consolidates between 56,100
and that 53,500 ish level.

So we really want to be careful
with shorting Ethereum.

Of course, once again, for those in the
discord, we took two shorts on Ethereum.

So far they both hit targets.

The last shorts we took was
when Ethereum first tested 35.

70 and that ended up
actually hitting gold targets to 34.

99.
We took this trade on the 6 October.

We have the best trade signals in this

market, not just the best discord,
but the best trade signals.

And the real question is Where’s the money

play going to be the money short,
because when you’re shorts.

Typically, when price action comes
to the downside, it takes the elevator

notice how that happened when
we came back down below 4000.

So there’s a lot of money.

In shorting, you want to be
in and out of those positions.

The question is,

are they just going to drive Price up
to the midpoint of this range before

seeing that money play that money shorts
for those in the discord,

you’re definitely going to get
that signal when it comes.

I don’t know if that’s gonna be the case,
but it’s certainly possible that’s what

markets like to do like to bring price
to a level that make traders kind of feel

undecided before taking it
to the actual destination.

And so I think that at this point,
shorting of Ethereum in the range of 36.

50 is gonna be very dangerous with this
sort of ascending triangle formation here

with us having a cup of coffee at this
market structural resistance at 3600.

That tells me it’s not
the final destination.

And since Bitcoin has already moved

to the side, why would an Ethereum
push up at this point?

Question is, where is it going to?

And that’s what we’re going
to be monitoring here now.

A lot of people are saying,

do you think that the cryptocurrency
market could see some new all time highs?

I think that we’re gonna get
that answer here real soon.

Over the last two weeks here

on the Cyber Center,
we’ve been very cautious about

the cryptocurrency market seeing this
first website because that’s MP 500

for the first time since October of 2020
came below its 20 week moving average.

But we are now back above it.

But we’re not seeing strength yet.

We haven’t gotten to this
previous weekly open.

So I’m gonna talk more about these

revolving parts that are the reason
of concern that we’ve had here

on the Cypress Channel, especially the DXY
pushing up above 93.

82.
That’s why we’ve been so cautious.

But because that would be 500 now is
back above its 20 week moving average.

It gives a little bit of breathing room

for the cryptocurrency
market into this weekend.

But we have to realize
that the move has already happened.

And with the total market cap,

we’ve yet to see the move below
the 20 week moving average.

And so that’s why I’ve been so concerned.

Are we going to be seeing
new all time highs?

Well,
the reason we’ll get that answer here real

soon is the total market cap
is testing a major resistance.

And at some point or another,
we’re either going to break above this

for new all time highs for the total
market cap or breakdown.

The reason we’ve also been cautious over

the last two weeks is because Bitcoin
dominance just came back above its 20 week

moving average for the first
time since January.

Now, when there’s price action,

there’s always a narrative
attached to that price action.

And I’ve been saying that the only reason
I would expect Bitcoin Dominic to move up

is because Bitcoin acts
like gold in this market.

If you guys listen to Kathy Gold,
she’s a big preacher of this in a bear

market sell see all coins hedge
into Bitcoin because it acts like gold

storage of value when there’s fear in the
market, Bitcoin is the safe haven asset.

So if Bitcoin dominance is moving up

and if we get a confirmation of this
moving up even further,

then why would the total
cryptocurrency market cap increase?

I don’t see that happening because

the total market cap is increasing, then I
would expect all points to also do well.

So that’s also another reason of concern
that we’ve had on this channel.

I think it’s important to always address

both sides, the bears
and the Bulls and be the umpire.

So into this weekend,
I talked about this yesterday.

The biggest parts of the revolving aspects

of this market that we’re going
to be monitoring is the theme.

Bitcoin chart is a leading
indicator for all coins.

If we come up and test this monthly or

even the weekly Open,
where we also have confluence

with the previous weekly open,
is there going to be a rejection if we see

a rejection and at any point in time we
come below 650 Satoshis,

that’s a major concern for the total
cryptocurrency market cap and alt coins.

Now, the other aspect of the market that
we need to monitor is Bitcoin dominance.

Of course, how is this going to move now
that it’s tested the 20 week moving after

the first time, it’s the only candle
that’s come up and tested it so far.

So the fact that we’re below it
is not a big deal this week.

We need to give this a little bit more

time to mature, which is why it’s
going to be important to monitor.

Of course, we’ll continue to do that here

for those tunes Cybers Channel, and then,
of course, what’s happening now

that Bitcoin Dominus is moving up
the altcoins outside of Bitcoin,

this chart factors in every all
coin except Ethereum and USDT.

Of course.

Then, of course,
it doesn’t factor in Bitcoin.

This is a real indicator
of the altcoin market.

It’s also coming down below the 20 week
moving average and already testing it.

Is this going to breakdown?

We’re going to be monitoring this,
but Bitcoin dominance will give us

a better idea of what’s
happening to this chart.

So it’s not necessarily the most important
one to monitor,

but realized we came and tested the 100
day moving average for the first time

since August and August was when
we pushed up into September.

That was the lower high that we’ve formed

for a lot of altcoins like
the finance coin Cardano Ethereum.

And so this was when I said
Altcoin season may be done.

And that was correct so far because

Bitcoin dominance moved above
20 week moving average.

This is an extremely important aspect

of the market, but it’s going to be
primarily influenced by Bitcoin dominance,

which is why Bitcoin Dominus is
really what we need to monitor.

And then, of course, a theme in a Bitcoin
chart and then total market cap.

And then when it comes to the revolving
parts, because this channel is a four

dimensional channel,
unlike every other analyst that just

covers one aspect of the market,
these markets are all correlated.

We’ve seen that time and time
again in 2017, 2018 and in 2020.

In March.
We saw it happen when traditional markets

sell down, the Dexy
sell above 93 point 82.

This is a concerning range
for the cryptocurrency market

and traditional market,
which is actually why the SMP 500 came

down below 20 week moving average
of the DXY strengthening.

This is the strength of the dollar.

These are all revolving parts that really

need to be carefully watched
over the next few days.

Smp 500.

Once again, if we can get above this
previous reopen, it 4446 or 446 for Spy,

that to me, is going to be a big relief
for the cryptocurrency market boat.

So far we’re still below
the 50 day moving average.

We’ve already rejected it once came
below the 100 day moving average.

Question is, what is this telling us

in the macro so far it’s saying
that the duck is in a downtrend.

It walks like a duck.

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

But there’s those two times that the rug

get pulled and things
turn out differently.

But so far to duck.

And we’re in this descending
parallel channel.

We really want to be monitoring Spy 500

because see more downside here is not
a gold puzzle piece of the cryptocurrency

market heading into Friday, though,
Japanese markets are starting to move up,

but they’ve already gapped down
below all moving averages.

That’s not a good puzzle piece.

Gold starting to move up today on Friday
with gold moving up,

you can see we did have this Wick
towards this 50 day moving average.

That shows that there’s some fear

in capital sitting in traditional markets,
maybe moving into gold to end the week

just in case something
might happen this weekend.

Gold just not necessarily
doing much, though.

I wouldn’t say it’s bearish or bullish.
It’s neutral.

But we did see a spike up today
and that’s some food for thought.

And then, of course,

US oil actually forming new yearly highs
today when commodities are strengthening.

I don’t necessarily think that’s the best
thing for more risk on assets like

the traditional markets
and the cryptocurrency market.

So these are some puzzle pieces that we

just want to address here
on the Cypress Channel.

Once again, we’re not bullish.
We’re not bearish.

We’ve been making videos on Bitcoin

for the last four years
before it even hit $20,000.

Right?

We started making videos
on Bitcoin when it was at $4,000.

So $55,000.

If we’re saying that okay.

There’s potentially come down to $49,000.

How is that being bearish?

I’m just giving you some very
good technical analysis.

Probably the best in this market.

I’ve watched all the analysts not saying

I’m better than, but I am saying that we
have the best technical analysis

in my opinion,
because it’s four dimensional and so

thank you all for tuning
to Cyber Channel today.

Once again, we also have the number
one community in this market.

For those not in the discord group,
the link is in the description below.

A look at Donnis is active right now

one of our awesome
contributors in the discord.

I’m going to be going to the conference
to do our pre meet up.

And then I believe we’re speaking tomorrow

on the panel with Mm crypto Carl the Moon
and DaVinci for those that are in Dubai.

Hopefully you got your tickets.

Coin Agenda Conference.

The link is in the description below.

And with that, thank you all for tuning

in the snipers Channel
today until next time.

Snipers out.