BITCOIN MOVE IN THE NEXT FEW HOURS (btc targets & scenarios)

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Timestamps!
00:00 intro
05:55 bitcoin analysis
09:30 altcoins
11:25 traditional markets
12:22 conclusions

Snipers, you have to see what’s happening
to the Cryptocurrency market this Tuesday

as Bitcoin is slowly grinding its way down
below thirty five thousand US dollars.

Exactly.
We talked about yesterday with today’s

daily Candelo at thirty
two thousand two hundred.

Now we’ve yet to see real volume come in,
which validates the thesis that we’ve had

on the Snipers channel over the last 90
days, that if we’re going to see Bitcoin

break thirty thousand U.S. dollars,
there is going to have to be a lot of sell

pressure on the order
books for that to happen.

And so I want to leave this thirty five

thousand dollar level on the chart today
because we are playing in a range right

now where if we’re below 35000,
the next level of real accumulation

and distribution from when we passed
through the 20 to 30 thousand dollar range

was at the twenty six
thousand dollar level.

And so what that means is any time we’re
below thirty five thousand,

the chance of Bitcoin coming down
to twenty six thousand is on the table.

It’s a destination for Bitcoin right now
if we’re below thirty five thousand.

But we know that every time Bitcoin is
came down to thirty thousand,

we’ve seen reactions and volume
and that tells us that thirty thousand is

also a significant level. So are we going
to see Bitcoin continue to take the ladder

down towards this thirty thousand dollar
level and then test this area

to potentially see a push to the upside?
Or is there going to be enough cell

pressure and volume on the order books
to bring Bitcoin below thirty thousand so

that we could finally see Bitcoin
reaction to these lower prices?

If that’s the case,
we have this twenty thousand dollar level

we’ve been talking about as a structural
support to form a lower low.

But then we also know that we have this

major multi-year support level right
at that previous all time high at twenty

thousand, or we going to see a wick
into that twenty thousand dollar range.

All of that’s on the table for those up
in Tunis, Snipers channel, you know,

but we’re going to look into the more
micro timeframes to talk about Bitcoin

between thirty five thousand and thirty
thousand, because inside of this range,

there could be a lot of momentum and a lot
of opportunities for Altcoins,

because for those that were tuned in three
weeks ago, I don’t know if you remember,

but when we entered Ethereum at seventeen
hundred on the 26th of June,

it was when Bitcoin made this higher low
and this was the best opportunity to get

into Altcoins throughout the whole
consolidation, at least for Ethereum,

because we got the lowest
US dollar price here.

So if Bitcoin comes and forms more
of these higher lows,

does that mean there are going to be
opportunities on the table

that most people would miss if they’re
not paying attention to Altcoins?

Of course, if you turn

to the Snipers Cardano,
you’re not going to miss those

opportunities because we are going
to cover Altcoins and Ethereum exactly as

we are talking about,
because Bitcoin is showing weakness.

We are now below nineteen eighty.

I decided not to go long here because we
already took a long position at seventeen

sixty on the twenty sixth of June
and so 1760 was a great entry.

Nineteen eighty.
Isn’t that good of an entry anymore.

And even 1760 isn’t that good
of an entry anymore.

I’m going to talk about
that later in this video.

But we are seeing weakness here at this

200 day moving average crossing this
nineteen eighty one point five support

that doesn’t really give a Ethereum
the best outlook over the next few days.

I want to talk about what the targets
could be to the downside.

Now, if we get back above nineteen eighty,
that would be extremely positive.

That could happen if Bitcoin does start

to resume its trend back
towards thirty five thousand.

We’ll talk about more of those scenarios.

But I do want to address
the Ethereum weakness right now.

Testing this one hundred
day moving average.

Are we going to see a bounce you?
It doesn’t look like it.

If we come down further, we have fifty
three thousand five hundred Satoshi.

We didn’t get to test it when we initially

formed this lower low here
on the twenty sixth of June.

This was also when we entered Ethereum.

So if we finally come down a test fifty
three thousand five hundred in the macro,

we’re still bullish
for the Ethereum Bitcoin

because this is a bullish flag
with these highs, these lower highs.

And then obviously we have
these lows in these lower lows.

So a lot is happening
with the Altcoin markets.

But because we’re seeing a lot of fear,
we’re still seeing weakness with Ethereum

and that’s going to translate
into other Altcoins total market cap.

Not much to talk about here.

Still camping out at that 200
day moving average.

Others dominants staying
above twelve point two.

As long as you’re in the fundamentally
sound coin’s like Cardano, Ethereum,

we’re not seeing really
extreme downside right now.

Bitcoin dominants still chillin out.

But I want to talk about traditional

markets today because
the DXY is pushing up.

This is one of the reasons that we’re

seeing Bitcoin starting
to take the latter down.

But we haven’t seen Bitcoin
take the elevator down yet.

And so if this DXY really is breaking out
of this consolidation year where this

would traditionally be a bear
flag because there’s higher.

He’s here, right, and higher lows,

but we’re still seeing strength
above ninety two point sixty two.

This was a rocket that Jerome Powell
launched on the 16th of June when he

announced interest rates are going to
possibly rise into twenty, twenty three.

So this is a rocket that has yet
to see its price discovery unfold.

It could invalidate this bear
flight and continue further up.

That wouldn’t be good for assets
of the DXY comes to ninety three point

eighty two because that could cause
Bitcoin to take the elevator down.

So I want to talk about what we’re
watching here for the traditional markets,

of course, with the DXY pushing up to,
it’s also causing the S&P 500 to kind

of come back down this week,
open to retest it.

And so we’ll talk about that.

As always, you guys are
watching the Snipers channel.

My name is Naeem Alobaidi.

Remember to smash the like button
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Some of you on the comments
were saying, oh, Naeem.

Now you’re saying Bitcoin
is going to dumb guys.

I’ve stuck to my opinion more
than any analyst in this market.

Throughout this whole consolidation,

I’ve maintained myself saying thirty four
thousand seven hundred and eighty is

the most important resistance
level for Bitcoin right now.

And at this point, with the 50 day moving
average so close to the thirty four

thousand seven hundred
eighty eight dollars level.

And by the way, this wasn’t

there before we called out thirty
four thousand seven hundred eight.

But now we have the monthly open at thirty
four thousand seven hundred eighty.

That’s not a coincidence.

That happened after we had this level
drawing on our chart for months.

So we know this is the level
thirty five thousand.

We know that’s the level.

If we can’t get above thirty four thousand
seven hundred and eighty eight

at this point, the only next destination
where there’s real volume and accumulation

is going to be this twenty
six thousand dollar level.

Now, that doesn’t mean we’re not
going to see volume on the way there.

And the reason that’s the case is because

even though when we came through these
levels like twenty thousand,

thirty thousand, forty thousand
last year or early this year,

that’s where we saw
the volume get distributed.

Now we’re seeing the volume on its way
down, get distributed in different ways.

And one of those ways is
below thirty thousand.

We know there is now a lot of volume.

Every time we’ve come below there,
we’ve seen pressure and volume.

So the fact that Bitcoin right now is

taking the ladder down below thirty five
thousand towards this thirty thousand

dollar range validates my
opinion that what we’re going to most

likely see here is Bitcoin between thirty
five and thirty thousand can consolidate.

This potentially could garner
opportunities for Altcoins like a Ethereum

like we saw here
on the twenty six of June.

Right.
But.

Every time we’re coming close to this

30000 age, we’re playing a very dangerous
game on the long side because

we’re in this range that takes
us to twenty six thousand.

So

that’s why I believe
if we continue to take the ladder down

here, we need to practice patience,
because when we approach thirty thousand,

the only way we’re going to see the market
discover lower prices is if enough volume

on the order books come in and can
bring the price below thirty thousand.

So what that means is No.

One, there is a potential we
could test twenty thousand.

But what we also know is because there’s
volume here, there’s a potential we stay

in these price ranges for a very
short amount of time.

And so having a week to twenty thousand,
you guys know is on the table.

Have those buy limits at twenty six

thousand, twenty four thousand and twenty
thousand just in case for Bitcoin.

But let’s say we stay above thirty

thousand and maybe we don’t get to thirty
four thousand seven hundred eighty eight

if we can get there at any point
in time today, tomorrow, next week.

It doesn’t matter at this point.

That 50 day moving average is at thirty
four thousand seven or eight.

If we can get there,
we can start talking about a reversal.

But if and until that happens

and if we’re above 30000, then I think
we need to be watching Altcoins.

I think that’s the play here,
because we know when Bitcoin is

consolidating Altcoins perform and just
because we’re below thirty five thousand

and above thirty thousand doesn’t mean
Bitcoin is going to see further downside.

All that means is it’s floating and

it’s floating because we’re
in such a large range.

So we want to monitor this area.

Of course, we get about thirty four

thousand, seven or eight and now we can
start talking about a rescue operation

because we’re above the 50
day moving average.

So

if Altcoins are going to be a priority

while Bitcoin is consolidating, let’s
look at a Ethereum leads the Altcoins.

It’s the biggest Altcoin

we are seeing weakness, as I talked about,
because there’s fear in the market.

We’re below the 200 day moving average.

We already got our entries here.

For those that have been tuned in our
channel on the Discord at the seventeen

hundred dollars, it’s not as
good of an entry anymore.

What I’m looking for, for Ethereum is

if we see continuation back
above 1980, that’s strong.

We’re back on our way
to third or three thousand.

And so the same.

We Bitcoin has its range
down to twenty six thousand.

Ethereum is kind of in an opposite

scenario where its range actually goes up
to thirty thousand if we’re above 1980.

But when we get below 1980, now we’re
testing these the support levels.

I’m going to have my buy limits

at seventeen hundred six
hundred fourteen hundred.

I believe that if we do see any downside

come in, if it’s going to be fast,
then Ethereum is also going to only stay

at these lower price levels
for short amount of time.

This is the previous all time
high from twenty eighteen.

Any entries below 1760 to fourteen point

in my opinion is the prime
spot here for Ethereum.

We get back above ninety nine.
I think we still continue to trend up.

So I’m glad we got our
entries at 1760, you see.

So that’s why it pays to dollar
cost average into good positions.

Right.

So now that we have this 1760,
let’s say we just

write above seventy sixty but then
continue back above nineteen eighty.

Uncouth at least I got my 1763.
That doesn’t happen.

We see further downside.
Perfect.

I get better entries down here
and then we continue the write up.

At least I know I’ve been in profits

for the last few weeks
because we got good entry.

Right.

So that’s what matters here with Ethereum
the theory Bitcoin could see some downside

and it’s still be a bullish
trend in the macro.

I wouldn’t be surprised, not if we break
this one hundred day moving average.

It’s like the second time we’re tested it

you knock on the door multiple times,
then it’s more likely to break.

We come down at fifty three
thousand five hundred.

So she’s totally fine with me.
Right.

So we look at the total market cap,
other’s dominance Bitcoin times.

We’re not seeing much changes there.

But we want to address the traditional

markets, so U.S. oil is actually
pushing up now, this is a commodity.

It’s good leading indicator in some ways.

We’re back above this week.

It looks like what’s a trend up?

And that’s happening while
the DXY is also pushing up.

So that’s a very interesting thing.

But the S&P 500 certainly
get affected by the DXY.

You can see it’s pushing down.

So right now, we’re seeing the DXY,

in my opinion, at a very sensitive
area above ninety two point sixty two.

We’re playing in this range that if we

start to fulfill this range back to ninety
three point three,

which could happen at any point,
these charts tend to move fast,

especially through our major levels,
then that could cause traditional markets,

Cryptocurrency markets
to take the elevator down.

But we get back below
ninety two point six to.

That’s the preferred scenario that I’d
like to see here coming into this week.

So we’re still very early.
It’s only Tuesday.

We have a lot more to, you know, price
action that’s going to unfold this week.

And we’ll keep you guys tuned in for those
have been tuned in the Snipers channel.

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We’re going to wrap up this video

by the diffs has great content,
as usual, Naeem love the analysis.

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upon your channel, but glad I did.

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