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My Interview w/ Founder Of Cardano & Ethereum!
https://youtu.be/j-xhUSTDVxE (Charles Hoskinson Interview)
00:00 video summary
04:00 bitcoin squeeze
12:35 traditional markets
Snipers, you have to see what’s happening
to the Cryptocurrency market today,
as we have seen the retest of thirty four
thousand seven hundred eighty eight and we
do have a bearish week on the 4-hour chart
after forming a candle low of twenty eight
thousand eight hundred and five U.S.
dollars yesterday, exactly as we’ve been
covering here on the Snipers channel.
We have to look inside of the micro time
frames today because everything morphs
from the 4-hour chart and then that will
go and translate into the one day chart.
And notice how there’s this bearish tale
candle testing thirty four thousand
seven hundred and eighty eight.
And now we have some indecision here.
We have bulls coming in from that twenty
eight thousand dollars level.
We know there’s volume below the thirty
thousand dollar level and now we’re
starting to see the bearish pressure come
from above, not allowing Bitcoin to get
above thirty four thousand
seven hundred and eighty eight.
There is a lot of things on this chart
telling me that you’re
at an extremely critical level.
We are seeing a squeeze like we’ve never
seen before in the Cryptocurrency market.
And at this point thirty four thousand
seven hundred and eighty eight
is more important than ever.
We have to reclaim this level if we want
to assume further upside for Bitcoin if
not and we come back down and we test
thirty two thousand US dollars and we see
4-hour and hourly closes below thirty two
thousand US dollars, then I believe twenty
six thousand U.S. dollars
will come on the table.
And we have to monitor this and we
know it will most likely be a week.
If we see a lot of sell pressure come in,
it’s going to have to be a lot of pressure
because the path of least resistance when
there’s low volume is always going
to be sideways to a little bit higher.
And we can still argue that there is
a lot of low volume here for Bitcoin.
We have only started to seen the volume
rise up over the last two days.
And so that means Bitcoin is
ready to make a decision.
We’re going to look at the six hour chart.
This is the chart that institutions have
been imprinting their moves when we
first tested thirty thousand US dollars.
You can see all of this by pressure.
But they didn’t let the everyday trader
know that because most of the everyday
traders are on the 4-hour chart.
The two hundred forty
minute the popular chart.
And look, it looks like there’s a lot
of cell pressure at thirty thousand
dollar level, but there isn’t.
And so we’re going to think
like an institution today.
It’s extremely critical squeeze
that we’re seeing right now.
Maybe one of the most important squeezes
that we’ve ever seen, the Cryptocurrency
market in the history of this market.
And then we’re going to look at Ethereum,
of course, the largest Altcoin
still showing signs of weakness.
We haven’t seen a decisive
move to the upside.
We did get this bullish engulfing candle
yesterday on the Ethereum
to Bitcoin chart.
And now we are still on the path to fifty
three thousand to Toasties, in my opinion,
unless we start to see a break here
of this fifty period moving average
on the 4-hour chart, I believe Ethereum is
still going to start seeing more weakness
than Bitcoin just because
there’s more fear in the market.
And that’s what the Cryptocurrency
market tends to do.
When there’s fear,
it allocates more positions into Bitcoin
as a hedge against the fear in the market
because Altcoins have less of proof
when it comes to user adoption.
And so it’s just like traditional markets.
Institutions hedge into Gold when there’s
uncertainty in traditional markets, right?
When there are political
turbulences throughout the world and the
future of a company is uncertain,
institutions will hedge into commodities
like gold, silver, oil,
precious metals in the Crypto market.
It works the same way,
but they hedge into Bitcoin.
So we have to look at Bitcoin dominants
today as it is still showing
strength and others.
Dominance is showing
some weakness right now.
And so this is something
we have to address.
But remember, we always want
to buy into the fear, right?
And so we’re going to also take
a look at Cardno and maker Dow.
These are two Altcoins I’m
I’m not being paid to endorse this.
I do know Charles Hoskinson.
He’s a good friend of mine,
the founder of Crypto.
But this certainly isn’t a paid promotion.
These are just two Altcoins
that I’m watching.
So I’m going to talk a little
bit about that today.
And then we’ll look into traditional
markets, as we always do
here on the Snipers channel.
My name is Naeem Alobaidi.
Remember to smash the like one
for the YouTube algorithm first list,
address Bitcoin and talk about what’s
happening here, because we saw the Candles
yesterday here at twenty eight thousand
eight hundred and five U.S. dollars,
and now we’ve come up to test thirty four
thousand seven hundred and eighty eight
exactly as we talked about yesterday.
No surprise on the 4-hour chart.
We saw the volume come in.
They made a move at eight a.m.
Eastern Time yesterday right
before traditional markets open.
We saw this bullish for our week.
We came up tested thirty four thousand
eight hundred and we got a rejection.
So at this point, we have this bearish
candle and a rejection on the table.
So now that we see a rejection at thirty
four thousand seven hundred and eighty,
it’s become more important than ever
that we need to cross above this.
Because I said yesterday that
the faster we get about thirty four
thousand seven hundred eighty,
the better for the confirmation
of a successful rescue operation.
But we’ve yet to see price action move
above thirty four thousand seven hundred
and eighty eight,
signifying that it is certainly
an important level that the bears are
defending and the bears do not want.
This level to break and therefore
now we have this extremely tight range
between thirty four thousand seven hundred
and eighty eight and the thirty two
thousand dollar level,
if we want to be more exact,
you can just look at the daily open today,
thirty two thousand five hundred.
The support of the market structural level
is thirty one thousand nine hundred.
So right at that thirty two thousand
dollars level is where we have support
and thirty four thousand
seven hundred eighty.
This is an extremely tight range
of only around five percent.
And if we break above thirty four thousand
seven hundred eighty,
I do believe we can get a retest
of the monthly open in over seven percent
upside and then that would bring a lot
more calmness in the market for us
potentially even see further upside.
And this could have been a bottom.
We talked about that scenario yesterday
of this being a lower low and then we saw
the initial low at thirty thousand form.
That’s totally garden
variety market behavior.
Nothing to be worried about.
You’ve got this low and a lower
low and then we continue upwards.
The sunshine is going to come
if that scenario happens.
we have to look at the dark scenario
because we have to be the umpire.
And so for the bears, if they are really,
truly out of hibernation,
I don’t believe the thirty two thousand
dollar level is going to be
another area that we could see
price action that isn’t going to assume
that we’re going to see further downside.
I think if we come down at this point
to test thirty two thousand, it’s almost
certain that we’re going to come
down and test twenty six thousand.
I believe, though,
if this downside scenario happens,
which it’s not one hundred percent going
to talk about the upside at thirty
four thousand seven hundred eighty.
But we know that’s the level.
But if the downside does occur,
I believe it’s going to take a lot
of volume for us to see the real bottom,
because it’s going to be a weak
in my opinion, it could come down to
the twenty four thousand dollars level.
It could possibly even come down
to the twenty thousand dollars level.
But I think we just have to be extremely
cautious if we start to see this downside
scenario play out, because
so far we’ve only seen the least severe
scenario and that was the test
of twenty eight thousand eight hundred.
And now this level is not
significant anymore, so.
It was also a puzzle piece yesterday,
I don’t know if you remembered
that on the 4-hour chart,
the institutions did decide to imprint
their volume this time,
but they didn’t decide to do that when
we first tested thirty thousand.
So markets are actually 80 percent
psychology, 10 percent technicals
and 10 percent fundamentals.
Therefore, if we think of this
now that they’ve imprinted their first
bullish mark on the 4-hour chart where
they know most traders are trading.
The markets love to do the exact opposite
of what traders think it’s going to do.
Was this a.
For the majority of the market to assume
there’s volume here that this is
just another level or lower level before
the trick trap and frustrate who comes
in and brings it down one last time,
that’s on the table.
I just want to throw that out there.
Why is the 4-hour volume showing now?
But it didn’t show before
that’s on the table has ever hurt you guys
for me to put puzzle pieces on the table.
No, never has.
And that’s the beauty of our channel.
We stay unbiased and we just give you
puzzle pieces and we let you
put the puzzle together.
And so that’s the scenario for Bitcoin
to the upside and downside, thirty four
thousand seven hundred eighty eight.
And then come back to me.
We’ll talk about some upside scenarios.
Downside market actually looks really
good for Bitcoin to see upside.
So it’s very possible we break thirty four
thousand seven hundred and eighty eight.
But it’s more important for me to discuss
this range right now because this
is where there’s more uncertainty.
So we’ll talk about some
of the Altcoins I’m watching if we see
another downside scenario play out.
If not, I hope you’ve got positions
that are dollar cost average
at these lower levels.
I’ve been talking about that over the last
three weeks, that these are good areas
to start a position
and we could still see further downside.
But if it does happen,
I think the next move, if we see the move
to downside, is going to be a fast one.
And if not, then we just continue
further up and we grind it back up.
So that’s also a preferred scenario.
I’m going to quickly talk
about Ethereum to Bitcoin.
This is the chart I’m watching to just
kind of get an idea of how the majority
of Altcoins are going to react, because
it’s sort of a leading indicator here.
You look at this chart and you go
into the others dominance chart.
Notice how they’re both below the 50
period moving average right now.
And with the Ethereum to Bitcoin chart,
we’re coming down towards this
one period moving average.
And so others dominance already
kind of did that and it came below.
And now it’s testing a multi-year support
level that dates back to 2017,
where we also have confluence
with the twenty week moving average.
And so right now, others dominance
is at a very critical point.
Testing the twenty week moving average
at home base below this level
for elongated amount of time puts
us back into a bearish trend.
And so this could be a reversal trend.
I think what we’re going to see
is a bounce,
possibly a lower, high or higher high form
before the true end of Altcoins season,
because this is the first time we’ve
breached the 20 week moving
average since the start.
So garden variety market behavior says
we’ll see a bounce at an important level.
And then from there,
it’s uncertain where things could go
because we’ve already breached
the twenty week moving average.
So if it’s leaning towards the weak side,
then that’s a puzzle piece on the table.
But that’s something we could discuss if
we see the bounce with Bitcoin dominance
is starting to come up towards
this twenty week moving average.
And as I’ve been saying over the last
month, I believe this is going to come
to fifty percent dominate and we’re
going to see a retest of this.
So in the short term,
I think the fear will allow these coins
to kind of reallocate themselves.
You know, we’re seeing Dogecoin in some
of these quotes really get
torn down during this bear market.
But then we’re seeing coins like Cordona
up three percent against Bitcoin today.
And I want to talk about some
of these Altcoins that I’m watching.
Catano, of course, is
that I am a big fan of I love Charles.
I love their mission.
And we do believe that, you know, there’s
going to be a bright future for Cardno.
They’re already doing a lot
of things in Ethiopia.
We’re coming towards this
20 week moving average.
These are some of the major
levels I’m watching.
I’m going to go more into these
charts over the next few weeks.
But I just wanted to give you guys
my major support and resistance levels
for the kadota U.S. dollar chart.
You know, when we see this amount of price
action in a range,
I don’t like to use market structure as
much as I’d like to just keep it
simple with support and resistance.
So, you know, obviously we did come down.
We saw a nice entry here
at the of day moving average.
That doesn’t mean, you know,
we won’t come down and test further lows.
But I think that,
you know, dollar cost averaging at these
lower levels are a lot better than dollar
cost averaging at these higher levels.
So that’s obviously clear.
And so I’m going to be
monitoring that Cardno chart.
I think that if we can come down
to the eighty one cent range, I mean,
that would be a very prime opportunity,
because if you look at this weekly chart,
you can see we have this 52
week moving average coming up.
And I think that since we’ve already
breached the 20 week,
we could possibly expect maybe
a test here of the fifty week.
I think that’s on the table.
The twenty week has broke.
We’ll look more into these charts.
It’s not obviously what I monitor
on a daily basis like I do with Bitcoin.
We have analysts that
monitor the Altcoins.
But what I am watching right now for Maker
as well is a possible test of some lower
levels down to like the one thousand sixty
six dollars level to fourteen
hundred dollar level.
If I see some entries there,
I think that would be a good
place to even disperse a larger position
than you normally would, because, I mean,
we’re really starting to see some good
opportunities come into this market.
So these are two fundamentally
sound coins that I love.
And then I want to talk about what’s
happening in traditional markets and we’ll
look more to Altcoins as we
progress through our videos.
For those, subscribe
to the Snipers channel.
Of course, a Gold still just having a cup
of coffee back at 1770 after
reacting to the DXY move to the.
Upside after Jerome Powell, you know,
announcing interest rates were coming up,
the DXY still having a cup of coffee,
retested the 200 day moving average today.
And the S&P 500 reacting to that by having
a cup of coffee at the previous weekly
open, looking like it could
still see further price levels.
You know, when you have a cup of coffee
at a major level, that typically
means it’s not the final destination.
So we’re not just seeing
rejection right now.
That’s a positive thing.
Things don’t look too bad
outside of the Crypto market.
But there have been some odd movements
over the last week that we have
to address, like the Japanese market
gapping down three percent
in gapping back up three percent.
Are they just filling this
gap to come back down?
I don’t know.
There’s a lot of volatility recently,
all because of the DXY.
So we have to be cautious.
We have to keep in mind these ranges
that we’re talking about on the channel
and then international markets outside
of Japan not really giving us much hint.
You’re still above the weekly open.
So we’re going to monitor
Bitcoin once again.
Thirty four thousand seven hundred
and eighty eight is more
important than ever right now.
And then the thirty two thousand dollars
level is also more important
than it’s ever been.
And so we need to monitor
this tight range.
It’s really coming into a point.
We’re going to see the squeeze
towards the apex of this area.
And so if we see a downside scenario play
out, I think it’s going to be a fast one.
We know there’s a lot of by volume here,
so it’s going to have to be a fast
move if there’s going to be a move.
And the worst case scenario,
we come and retest this multi-year support
line here on that twenty
thousand dollar level.
It’s on the table.
We could even come down and not
test the previous all time high.
It’s it’s really all up to what happens
in this range between thirty four thousand
seven hundred and eighty eight
and thirty two thousand.
And with that, I appreciate each and every
one of you Snipers tuned
in to our channel.
I want to give away one of my favorite
books on investing, mastering Bitcoin.
I’m going to pick a winner
from our video yesterday.
Just comment below.
Remember to smash like one for the YouTube
algorithm and you’ll be entered
into when Ron says thanks to him.
I continue to learn from your wife’s
thinking over three years
now I have the same volume.
I love that.
You know, it really comes to a point where
when you start to see your actual
exchange accounts affecting
the volume on charts,
that’s when you really realize
why volume is so important.
I remember when I first saw it,
you know, the amount of capital I was
using actually affect the trading view
chart, showing volume for the first time,
you know, changed my thought process
on how important volume really is.
Thank you all for tuning in today.
Until next time Snipers out.