Snipers, you have to see what’s happening
to the Bitcoin price this Sunday as we are
heading into the apex of this bullish
metrical triangle, and with a potential
target of $72,000 based on the base
of this bullish metrical triangle,
the big question is right now out with low
volume on Bitcoin’s price,
actually the lowest that we’ve seen
throughout this whole consolidation.
When the next push of volume comes in,
how far are we going to go?
Which direction are we going to go so far?
It looks like we’re heading towards
the 70% Mark,
which at some point or another for those
tuned into the cyber channel, you know,
we have to break out of the market
structure by the 70% Mark in order for
that market structure to be confirmed.
If we start to move into the 80% to 90%
range, that’s when we have to potentially
start talking about a bearish scenario.
And so this is a very
exciting time for Bitcoin.
There’s low volume, which means
that the move is coming here very soon.
And when we go into the six hour charts,
we’re not going to see much
So we’re going to skip the micro time
frames today and talk more about the macro
environment right now for Bitcoin because
we know the DXY, which is the strength
of the US dollar closing new
yearly highs after the Fed’s announcement
of tapering away asset purchases,
is a big puzzle piece coming into Monday.
And then, of course, we’re watching
Bitcoin dominance right now.
It’s at a very critical
point at 42% dominance.
Notice how if we start to move further
down from 42% dominance,
that’s going to potentially be
the confirmation that we’re going to see
further downside for Bitcoin dominance.
And that’s going to be a huge puzzle piece
to indicate that this Bull market has
a lot more fuel to go for Altcoins.
And so that’s going to be something
important to watch with Bitcoin’s
volatility coming down.
Of course, it’s a trillion
dollar plus asset now.
So the larger the market cap goes,
the less volatile it’s going to be
for those inside of the discord group,
the number one cryptocurrency
trading community in the world.
You’ve been posting
tons of altcoin charts.
I see here Uriel, Seven, J, Dub and Busby
talking about different
altcoins like Shiba Inu.
And that tells me that the retail traders
are still excited about the alcohol
market, kind of distracted from Bitcoin.
And for those getting the best
cryptocurrency trade signals in the world,
we’ve been taking trades every single day.
I took one earlier today for a new kind
of network NK and USDT
on finance and coupon.
We hit all targets on that.
And we’re just throwing all coin trades
out there with Bitcoin consolidating.
That’s the thing to do.
And so we want to start talking about
the major scenarios with our weekly candle
today closing in less than 3 hours.
This is going to be a huge puzzle piece
because realize this, this weekly candle
is pretty much telling us that the next
weekly candle is most likely going
to be where the move is going to be.
And I say that because there’s
an indecision candle, which typically
leads into a decision candle.
And so we really want to start monitoring
Bitcoin as traditional markets open up.
We know that brings in volume
to the market, and that’s going
to happen here very soon.
And then, of course,
into Monday and Tuesday,
we’ll get to see how the S Amp P 500
has reacted to this DXY closing the week
with new yearly highs because I think
that institutions have yet to really make
their plays with the weekend showing.
Obviously, the traditional
markets are closed.
It’s telling us that they
haven’t had a chance to really
make their moves, but I’m sure that
they’ve already made their decisions.
And so we’ll get that answer
coming into this week.
It’s going to be a very exciting week.
And then remember,
Gold closed the week strong,
looking like it wants to continue further,
potentially break out with a very
bullish continuation candle.
That’s also a puzzle piece to watch
because we’re watching the Gold to Bitcoin
chart right now to see whether or not this
is going to continue to see new lows.
If it does, that’s an indicator,
there’s a lot more fuel left
for Bitcoin to see further highs.
But if we come into the 50 day moving
average like we did on April 14,
when Bitcoin was at 64,000 and then came
back down to 28,000,
this could be a sign of weakness.
So that’s why we’re going to be monitoring
this chart with Bitcoin
potentially in price discovery right now,
which is extremely exciting,
allowing the total market cap notice here
to try right now, coming up to four new
highs today, we’ve been seeing a lot
of strength here with the total market
cap, especially with Salada and all
of these altcoins doing very well.
And of course, you guys know,
we actually talked about Bitcoin forming
new alltime highs when
it first reached 49,700.
Look at this post that I had here
So we’ve got this here on September 2.
I said Bitcoin looks ready
for a significant breakout to new all time
highs is 49,700 and not seem
to be a strong resistance level.
And notice how this chart
showed us at 49,700.
And of course, now we have
seen those new all time highs.
So we’ve been very accurate
with our predictions.
And of course, the same
thing here with Ethereum.
We posted this extremely bullish
chart for Ethereum when it started
to move above 650 Satoshi.
And that brings me to the Ethereum
to Bitcoin chart because this is going
to be a very important
indicator for this week to give us an idea
of if we’re going to be able to see
the strength that we want
with the altcoins outside of Ethereum,
because so far we’re still below
the 50 day moving average.
But a theorem to Bitcoin is a leading
indicator for the other Altcoins.
And so if we want to assume
that some of these NFT coins,
some of these platforms infrastructure
projects are going to see continued
further momentum to the upside and price
discovery, then we actually want to see
the theoremte Bitcoin chart do well.
And so far it has been doing well.
But with Bitcoin at a very critical
at least with its dominance,
this could change very fast next week,
which is why we really
want to monitor this.
And if we start to move up further right
now with this Ethereum in the Bitcoin
chart, we could potentially even start
talking about breakout to new
yearly highs because we have yet to form
new highs since the May
14 all coin market top.
I guess you could say when a lot
of altcoins topped out, but of course, now
we’re seeing them back at those highs.
And Theorem to Bitcoin is going
to be that leading indicator.
Now the finance coin is
actually doing very well.
It’s the next largest coin.
You’ll start to see that ripple effect
into the smaller market cap coins
from the mid cap coins,
and that’s what we continue to monitor.
Now, let’s say that we don’t get much
action here over the next few days.
That’s going to start bringing the bears
back into the equation, because
if we start to see weakness,
I quickly want to address that and we move
further into this market structure
and sideways action between
$61,800 and the $60,800 level.
In my opinion,
that’s going to be when we have to start
addressing potential downside scenarios.
But so far it looks like Bitcoin has been
able to hold up inside of this triangle so
we can’t really expect
anything bears just yet.
If we get back below six to 1800,
then that comes on the table.
And with that being said,
thank you all for tuning
into the snipers channel today.
If you’re not already subscribed
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We’re going to have our previous weekly
open here on Green, updated tomorrow,
as we do on this channel to make
all of this easy for you guys,
and all you have to do is watch our videos
and you get a four dimensional view of all
the financial markets in the world.
And when we look at international markets
tomorrow, we’ll discuss the strength
of gold and the DXY and the effects of the
chart there with international markets.
And then, of course,
we’ll cover oil there.
And with that,
I appreciate each and every one of you
snipers tuned into the channel.
I even appreciate the community more
because I love chatting with you guys,
and it actually brings me a lot of joy.
So I’ll be here on the
discord as I always am.
Thanks for all of the amazing
participation we have the number one
trading community for this market.
And with that I’ll see you guys tomorrow.