baby here bitcoin hits our price target just 
below 28 000 us dollars as you can see here   from the schematics that we drew out in our video 
yesterday by the way if you guys are enjoying this   content make sure to like this video and show 
your support for our channel and i want to talk   about this ascending triangle of the previous 
all-time high that broke out and we saw this 20   push to the upside and then we saw this 
short-lived ascending triangle form   that eventually broke out and it hit 
our target of right below that 28 000   level the question is is bitcoin going to continue 
higher as we start to see traditional markets open   today is sunday by the way which is a huge day 
because now we're going to start to see futures   market open we're going to see traditional markets 
precious metal markets open and we'll start to see   where is liquidity going to flow what is the dxy 
chart going to look like and so tomorrow's video   is going to be extremely exciting but i have a lot 
to talk about today because you can see we've got   another cme gap that's formed here at 23 795 us 
dollars for those of you that don't understand   cme gaps i'll pull up this bitcoin cme chart you 
can see here on the candle close of the 24th of   december when the bitcoin cme chart last closed 
its last daily candle the candle high was right   at that 23 795 level and so as we start to see 
futures market open in the next couple of hours   we're going to see bitcoin open up right at that 
twenty seven thousand five hundred twenty eight   thousand dollar level and that's going to create 
this huge gap here which as we know ninety seven   percent of gaps like to fill and so now that 
we have this new cme gap at 23 795 you can see   here there's a lot of confluence with the previous 
weekly open which is going to close today as well   and we've also got this resistance from the 
previous ascending triangle that broke out   and so we've got a lot of confluence here at 23 
795 if we're gonna expect any form of a pullback   then we're going to want to watch this level of 
23 795 to determine whether the bulls are still   going to be in control or if the bears are going 
to have any sort of say in the price action in the   upcoming week and so realize as the last week of 
december unfolds traditionally the crypto market   has had a lot of volatility during this time and 
we'll look at bitcoin dominance because that's   also showing some very interesting signs we'll 
talk about that towards the end of this video   but i want you guys to realize that as we start 
to see bitcoin's price price action unfold here   over the next few hours we're going to want to see 
whether or not there's going to be cell pressure   at that 23 795 level where the weekly open and 
the previous resistance of the breakout level   currently sits where there's a lot of confluence 
here and so if we come down and pull back and we   see very little cell pressure then there's a high 
chance that yes we will continue up to 30 000 us   dollars now let's say futures market open once 
again bitcoin is in price discovery which means   it can even go to 100 000 us dollars right now 
or it can just at any point in time retrace 50   realize that it's still going to be in a bullish 
trend on the macro if it does that but you know   the the fact of the matter is at some point or 
another we're going to see a pullback and you know   that typically likes to occur in my opinion around 
the sunday to monday time frame because that's   when futures market open that's when we start 
to see traditional markets open and of course   now that we have this major cme gap left there 
sitting there then there's a high chance we come   and retest that level so that's what i'm going to 
be watching if we start to continue to the upside   at some point or another in my opinion 
there's gonna be a blow off top because   you know unless we consolidate like we did here 
and form another triangle then now we're gonna   start to see unsustainable price action but 
once again bitcoin isn't price discovery and   what that means is because we broke this previous 
all-time high here now and especially with a coin   like bitcoin with such a large market cap there's 
a chance that we can go as far as it wants uh and   with a you know 500 billion dollar market cap 
that by the way just surpassed visa there's a   lot of room to go towards the one trillion 
dollar market cap which a lot of people have   been talking about for a very long time i know on 
our channel over the last three years we've talked   about bitcoin at a one trillion dollar market cap 
being very possible and now that we've overtaken   visa mastercard we're starting to see bitcoin 
as a more efficient storage of value and even a   means of exchange when it comes to payments right 
so of course we're going to be watching this chart   here i'm going to be watching this level uh 
once again for me personally would i long   here at this previous weekly open really what i'm 
waiting for to long is going to be this monthly   open and this is actually going to be uh you know 
different in the next five days once we start to   see the next month unfold but this is actually 
an important level in my opinion because this   specifically is not only an ascending triangle 
resistance area which we haven't retested yet   that's the key here we haven't retested this 
yet but it's also the previous all-time high   and we've yet to retest that and to me that's 
a very juicy opportunity when it comes to a day   trade long opportunity as a matter of fact for 
those of you that are in our discord we've been   trading ethereum we've been trading bitcoin but 
we've also had a lot of success with all coins   you can see here with the binance coin i sent out 
the signal yesterday at 4 19 a.m we saw all four   targets hit with an eight percent profit on 3x and 
that entry was at 33.

I'll actually talk about why   i took this trade and then we'll go and look at 
bitcoin dominance because there's something that's   very interesting happening there with bitcoindoms 
we'll pull up the binance perpetual contract here   for bnb and i'll talk about why i took this trade 
at 33 it's actually a very simple trade here   so the reason we took this trade was when i was 
watching bnb i talked about this weekly open in   my video yesterday acting as a magnet when it 
comes to price levels and price action right but   another aspect is going to be this price structure 
that i had drawn out yesterday from this ascending   support level that bnb had and i sent that signal 
to enter into bnb at 33 right when i saw this   pullback towards that ascending support level and 
i saw that we only had really one wave completed   second wave third wave fourth wave and i knew that 
there was that fifth wave coming and of course now   we're starting this abc correction we broke that 
ascending support level but the reason we took   this trade at 33 was because if i were to pull 
up 33 here you can see i'll actually uh this red   line here is actually 33.

You can see 33 in the 
past has acted as a strong support and it also   acted as a resistance and so knowing that i knew 
that as we came to test that support level sorry   let me get back to that chart i knew that as 
we came to test that support level that there   was going to be a high chance that not only will 
we bounce on it like we did here but we would go   skyrocket past 33 for that last and final wave up 
and of course that resulted in almost four percent   upside actually over four percent which on 3x 
is 12 and that's a pretty solid trade there in   a couple hours and of course now we're starting to 
use abc correction but um you know one thing i've   been looking at when it comes to all coins 
is if bitcoin is seeing a lot of strength   then there's certain all coins that are considered 
oscillators and there are certain altcoins that   are considered degenerate oscillators are coins 
that when bitcoin is trading sideways and there's   not really much room to long or even short bitcoin 
and there's very little volatility the whales like   to play around with all coins but there's a 
specific basket of altcoins that they like to   play around with that are called oscillators 
oscillators can even be coins like dodge   you know surprisingly dodged as being a joke 
i'll pull up a bittrex chart that has a lot of   price discovery you can see here over the last 
few years dodge has been able to maintain itself   against bitcoin's price you know uh sometimes elon 
musk might tweet about it it'll pump but over time   you can see ever since 2014 it's continuously 
maintaining the sideways trend and it has these   periods of upside where is able to stay up with 
bitcoin's trend which is a very interesting aspect   of an altcoin that you always want to look for 
when it comes to investing in all questions i can   do a whole video on all coins that are degenerates 
and also there's if you guys want to see that   video comment below what all coins you want me 
to check on whether or not they're oscillators   or degenerates and i might do a whole video on 
just taking your requests um so put that in the   comments below and i'll definitely check those out 
uh but realize that there's a lot of opportunity   in this market right now when it comes to altcoins 
as well as bitcoin and we look at bitcoin doms   what a perfect transition and segue into bitcoin 
diamonds you can see we're starting to head to   these all-time highs and what that means these 
aren't all-time highs but we're just factoring in   from that 2017 top and from that initial 
altcoin cycle that you know really started   with the discovery and the creation of icos but 
eventually turned into ieos and then we had the   defy revolution you can see what's happening 
right now is we're heading towards these highs   and really we're going to be watching that 73 
dominance level because if we're able to break   this then there's a high chance that we can even 
wick all the way up to that 80 percent dominance   level and in my opinion if we continue to see 
strength which we're seeing a lot of strength i'll   actually pull up some of these moving averages 
here are the 50 100 and 200 weekly moving averages   for dominance we're above all three weekly moving 
averages and when we look at something like   altcoin dominance it's the complete opposite 
we're below all these weekly moving averages   now in the past was that the opportunity to buy 
yes it was because you can see below those weekly   moving averages we continue to upside but it's 
a very dangerous play we want to at least see a   retest of this 200-week moving average first like 
we saw here before considering whether or not this   altcoin cycle will begin or if we're gonna see 
a continued prolonged downtrend very similar to   what we're seeing with the dxy actually which is 
the dollar value you can see we broke below that   200 week moving average and we never retested it 
and so that was confirmation that not only was   this becoming very bearish that we also broke 
this macro trend this ascending support trend   and that was even more bearish and now we're in 
this prolonged downtrend when it comes to the us   dollar value which is one of the biggest reasons 
why we're seeing inflated asset prices and so   i hope you guys enjoyed this video i can go into 
so much more but if you guys are in our discord   you guys know you can always catch me there and 
ask me questions very interesting chart now that   we have this new cme gap at 23 795 that's what i'm 
going to be watching for now i don't believe we'll   go and just break past 30 000 out of nowhere this 
week i think we'll either see a consolidation in a   triangle form or we're going to come re-test this 
weekly open if we come to re-test this weekly open   and we don't see much buyers and we see a lot of 
cell pressure then i'm really going to be waiting   for this monthly open and that retest of the 
previous all-time high to go ahead and have a nice   solid day trade long uh and then from there we'll 
mostly come up test that weekly open and that   previous cme gap of 23 795 and then from there 
we can you know either consolidate this level   um or even continue to the upside i think if we're 
going to continue the upside then we're not going   to come test this monthly open i think first we'll 
test this weekly open and then continue to upside   and then at some point or another we're going to 
see these gaps feel like they do 97 of time people   have been saying like you really think the 9606 
dollar yeah at some point we're gonna come down   to that level it could be four years from now five 
years from now could be years from now could be   you know uh months from now it's you know it's 
just when sentiment changes is when we'll start   to see these uh levels retested at some point or 
another um but of course that's a long time away   at this point with such bullish sentiment and 
the fundamentals especially with the political   you know tyranny i would like to say um going on 
in the us but anyways thank you guys for watching   this video i'm out it's sunday i'll see you guys 
tomorrow and if you guys appreciate this content   like the video and subscribe to our channel 
if you guys haven't already sniper is out

You May Also Like