MY BITCOIN PLAYBOOK TO FOLLOW RIGHT NOW (btc entry & target)

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Timestamps!
00:00 summary
03:09 bitcoin
08:10 altcoins
13:16 traditional markets
14:07 conclusions

Snipers, you have to see what’s happening
to the Cryptocurrency market today as we

head into a weekend where the markets are
the most manipulated Bitcoin is still

below the thirty four thousand seven
hundred eighty eight dollars level,

where we also have the monthly
and the weekly open.

And so at this point, we are heading to
the weekend below a major support level.

And so we have to talk about what we’re

expecting because the weekend
tends to bring in volume.

And if we start to see a move

to the upside or downside,
we are in the middle of this channel.

This could be a momentous time for Bitcoin
a momentous weekend, to say the least.

And we’ll also talk about Altcoins.

It is Friday.

I’m here to be your umpire.

For those who have been tuned
into the Snipers channel over the last few

weeks, we’ve been covering the DXY
and today’s weekly candle has closed

for traditional markets as
we’re heading into the weekend.

And notice how we have this bearish tale

Candles right now for the DXY
rejecting ninety two point sixty two.

That’s a very positive thing.

And the S&P 500 reacting to this

new all time highs with this
bullish continuation candle.

And then we look at Gold ending the week

with this bullish tale,
fighting to stay above the 1764 area.

It’s looking really good
coming into next week.

Things are looking extremely positive
in the environments outside of Bitcoin.

So I want to talk about the VIX, which
measures the volatility of the S&P 500.

This is an indicator of fear in markets.

It’s a very good way to kind of get
the gauge on what fear is really

taking part when it comes
to institutional capital.

Because the VIX measures the volatility,

the S&P 500, one of the largest markets
in the world you could see in March.

Twenty twenty, obviously, we saw a lot
of fear which brought the VIX up.

And when the Fed started to print money
and we started to see all of the stimulus

and the bonds being purchased,
that’s when the VIX started to come down.

So it’s been a goal for the Fed to bring

this VIX down to a calmer level so that we
could see more strength and confidence

in outside markets, not just
the tech sector, for example.

But we look at like the Dow Jones,
for example,

one of the most underperforming
indices over the last year.

That’s.

Something that we know the feds want,
which is bringing the vics down

and part of that is allowing the S&P 500
to stay in an environment where it can

continue to discover a price
on an upward trajectory,

that’s the perfect melting pot
for Bitcoin and Cryptocurrency markets.

And so we’re going to look at more of the.

Playbooks that have already been played

throughout this week,
what institutions have done

coming into this weekend,
because I think that’s going to give us

a real understanding of what we’re looking
for, for the Cryptocurrency market

and specifically Bitcoin, of course,
coming into this most manipulated time.

You guys are watching
the Snipers channel on a Friday.

Remember to smash the like,
went for the YouTube algorithm first.

We’ll start with Bitcoin,
as always, inside of this flag.

If we were to actually take the parallel

channels tool, we could actually look more
into this channel that’s forming here.

I don’t use it often.

So let me find the tool here.

But there’s a very nice tool you guys can
use here, and it allows you to really

determine where a channel has
significant support and resistance.

So notice if we were to take this channel

here and we were to just kind of match
it up with the current flag formation.

Right now, Bitcoin is really starting
to test the lower end of this channel.

You can see with this dotted line
and we’re starting to head towards this

lower range that coming into the weekend
tells me that patience is key right now

for those looking to get long entries
for Bitcoin inside of this channel.

What we really need to monitor is when

is the true volume going to come in to
move us out of this consolidation range?

And if that volume comes to the downside,

it’s not going to be a long time
that Bitcoin is going to be sitting

at the levels below 30000,
because we know in the six hour chart

there is a ton of volume here below 30000,
a lot more buyers and sellers.

So of course, if enough so pressure comes

in to fill those order books,
we could see some downside pressure.

But as I’ve been talking about throughout

the consolidation period,
over the last month here with Bitcoin,

people have made decisions whether
to enter their long entries into Bitcoin.

Right now,

there’s a lot of pressure coming above
40000 to the downside because a lot

of people, unfortunately,
got in at these higher ranges.

If we were to look at the volume profile

on the side, which I used to show in my
charts, you would be able to see that.

But we also know below 30000,
there’s a lot of pressure.

So we’ve been inside of this channel.

If Bitcoin decides that it wants to come
in at lower levels, if we see

a mass influx of sell pressure,
because so far we’ve rejected the 50 day

moving average before been testing it,
which is a sign of bearish continuation,

then I believe the least severe scenario
is going to come right back down below

thirty thousand one last time,
possibly to form another lower low.

And that right there might be the last
chance that we get in this market

to get entries below 13000 before we start
to see continuation back

into the forty thousand dollar range
heading towards Q4 of this year.

We could be in a very prime opportunity
here below all moving averages to be

getting positions in the
Cryptocurrency market.

So I think that this least severe scenario
certainly on the table to form a lower low

and the scenario beyond that would be
a test of twenty thousand or

below twenty six thousand,
up to twenty thousand.

So even maybe the twenty four thousand
year,

if that happens, I think this would be
a short amount of time that investors

would have to get those positions is if
you don’t already have long positions

and buy limits on exchanges,
I believe it’s going to be such a fast

move that you wouldn’t be able to just log
on to your exchange and get positions.

And because these are the times that you
might see Coinbase Cross, for example.

So having those orders in below 26000
might be a wise decision just in case

something happens and we start
to see a lot of sell side pressure.

But

at any point in time,

I want you guys to realize that this
monthly and weekly is at thirty four

thousand seven hundred
and eighty eight for a reason.

If we get above thirty five thousand

at any point in time, maybe we don’t even
come down to just any more lower levels.

Then we can really start looking
at a bullish scenario for Bitcoin,

because now this 50 day moving average is
coming inside towards that thirty four

thousand seven hundred
eighty dollars level.

With this coming so close,
the price action’s going to either move

to the downside or it’s going
to squeeze to the upside.

And markets outside
of Bitcoin look really good.

But that doesn’t take the scenario off the
table because it’s going to be a weekend.

Markets are closed,
Bitcoin does what it wants.

So that’s why patience may be
the key into this weekend.

If we get back above thirty four thousand

seven hundred eight,
we start assuming higher price action and

possibly coming to test this
200 day moving average.

It’s now sitting at forty
four thousand eight hundred.

It wouldn’t be surprising for Bitcoin

to get back to forty four
thousand eight hundred.

Unfortunately, forty nine
thousand seven hundred is back.

You know, off the table
and initially 50000 was on the table,

then forty nine thousand seven hundred,
but coming into this weekend,

I don’t think forty nine thousand
seven hundred is on the table.

I think,

you know, you’ve got this two hundred
and this one day moving average here.

We know there’s a lot
of pressure into 40000.

I think it’s going to be tough
for Bitcoin to get above this channel.

Really, so that forty thousand big even
seems like a very tough area for Bitcoin.

So that’s what I’m watching
when it comes to Altcoins Ethereum I

believe is going to be a
monster coming into Q3 and Q4.

I think we’re going
to see a lot of strength.

I’ve been talking about it
since the start of this year.

We sent out a ton of trades for Ethereum

and you can see a theme above the 200
day moving average right now.

That’s very positive.

If we see the downside scenario play out

for Bitcoin, I think Ethereum
has this fourteen forty eight.

This confluence here with this channel,

I don’t ever see Ethereum getting
back below fourteen hundred.

I think that it’s a very,
very proven concept at this point.

You know, from the 2017 2018 bull market
we saw Ethereum come up to fourteen

dollars and then through that bear cycle
did come back down to eighty bucks.

But think about 2018.

All Ethereum was able to prove
to institutions and retail investors was

that it was an efficient
means of raising funds.

Right.
Initial coin offerings.

This new twenty twenty twenty
twenty one Altcoin bull run.

It proved that not only is Ethereum
a great way of raising funds,

it’s also going to be the foundations
of decentralized finance.

Right.

And I know there’s Cardno and a lot of,
you know, other platforms,

polka dot and all these other
infrastructure projects coming out.

But nothing can really take away
what Ethereum has right now.

Something that I’ve been talking about
on the Discord as of recently is if we

look at I would actually just
pull up the Discord for you guys.

If we look at what’s going on to a theory
right now, it actually costs more to 51

percent attack Ethereum right now than
it cost the 51 percent attack Bitcoin.

So.

In my, you know, time in this market,
I’ve personally never seen

that ratio where
it cost more to 51 percent attack CATHERIN

than it does to, you know,
51 percent attack Bitcoin,

because that means that Ethereum is
a more secure network right now.

And, yes, it’s running off of work and
it’s going to shift into proof of stake.

But this proves that not only is Ethereum

extremely decentralized, it’s actually
the most secure network right now.

And this is all happening because look

at the hash rate for Bitcoin now
below the March 20, 20 lows.

That’s why I’m telling you guys have
been on the Discord you’re missing out.

The link is in the description below.

And then here’s what I was
talking about earlier.

I’ll just pull up the charts here.

So we look at what’s happening to Bitcoin.

And this is actually an inverted chart
of what’s happening to Bitcoin right now.

This is the exact chart.

So if you invert this chart and you look

at what’s happening,
this is the cup and handle that’s sort

of forming on an inverted
Bitcoin USDollar chart.

And it’s very similar
to the Gold to Bitcoin chart.

Right.
So that’s also an interesting correlation.

I wanted to bring up.

You know, I love throwing
puzzle pieces at you guys.

And if you’re on the Discord, I throw
a lot more puzzle pieces out there.

And that’s really all I want to talk
about right now from the Discord.

But Ethereum,
it’s really starting to prove itself.

Not going to start talking about a flip.

But what I am going to tell you guys is
what I personally am researching and

where I see things headed and Ethereum
is showing strength there.

Now notice how we’re above
this 200 day moving average.

We get to this weekly
open at nineteen eighty.

That’s a support level.
If this breaks,

I think we could see a test of the fifteen
hundred to fourteen hundred dollar range.

That’s if there’s a massive
downside scenario for Bitcoin.

If we stay above 1980 and we get back
above this previous week,

we open at 20 to 40,
then I think Ethereum is on the way up.

I don’t think we’ll ever get back
down below two thousand dollars.

It might be the end of this,

you know, bear market for theory,
because you look at the Ethereum

to Bitcoin chart,
we know this is an extremely bullish

trend and we can assume that we did get
the test of the channel support here,

because if we just take the bodies
of the scandal, this did actually find

support here where we have
this 100 day moving average.

And so this is kind of irrelevant.

Now, this was just
a week on a daily chart.

If we start to see the 20 to 40
level break US dollar price.

That, to me assumes that seventy
thousand Satoshi is also breaking.

And if that’s the case,
we come straight to 86000 Satoshi.

So that’s 18 percent just
with that one breakout.

And then that doesn’t assume that we break

out of eighty five or eighty
six thousand Satoshi.

So, you know, the others dominant chart is
the Altcoin chart that factors in a theory

amidst the most bullish
in the Cryptocurrency market.

Part of that is because of a Ethereum

strength right now,
despite what Bitcoin is doing.

And so holding this multi-year support
level, if we start to see this push up,

this could also be the indicator that
Ethereum is leading the Altcoin market

into a extended bullish rally
beyond Bitcoin bear market.

Right.
So we want to watch this because there’s

also confluence here at the 20
week moving average.

So we get above twelve point
two percent dominance.

We start getting really above that 13

percent heading towards
the where the monthly opens up.

That’s really confirming the Altcoin
season is certainly not over.

Matter of fact, it’s the stronger assets
in comparison to Bitcoin dominance

starting to come down here with Bitcoin
down just below the weekly open.

So traditional markets closed DXY.

We saw the push that we wanted

to the downside to get the environment
that will allow Bitcoin to not see any

extreme amounts of
volatility into the weekend.

I think that that gives us the confidence
that we at least either side,

at least severe or the most severe
scenario I showed you guys.

But nothing beyond that because the DXY,

you know, coming back down is allowing the
S&P 500 to continue its price discovery.

That’s a great thing.

Gold showing some strength
back above 1760, but not showing too much

strength, which is actually a good thing
because that shows confidence

that institutions are hedging away
from Gold back into other markets.

So things are looking good.

VIX is coming down,
as I mentioned earlier in this video.

You want to see this come down, right?

The volatility, you want
the volatility down.

That’s a great thing.

And with that, thank you all for tuning
into the Snipers channel this Friday.

If you want to win one of my favorite

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Let’s hit 300 likes on this video.

Snipers family says thinks I’m the only

one covering the movements of the
DXY Gold in traditional markets.

They’re all correlated, right?

You could predict a lot of moves.

If you look at the DXY,
you could have predicted

the end of the twenty seventeen bear

market bull market for Bitcoin you
theoretically possibly could have

predicted the top four Bitcoin in this
rally as well, just by watching the DXY.

So it matters.

And with that, thank you all for tuning

in to the Snipers channel today
until next time, Snipers.

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Naeem Al-Obaidi

Traders Profit Club (SnipersTube) is a community dedicated to creating knowledgeable & profitable traders in all markets.