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a cross-chain token pools and auctions network hey guys this is Altcoin Sherpa here with a
crypto market review today i want to review bitcoin ethereum and some other larger cap
coins uh so let's get to it as always this is not financial advice everything i
say is for educational purposes only trading is risky do your own
research i am not a professional okay so for bitcoin what are we looking at here
uh this is still a very uh high time frame bullish trend uh we will look on the weekly this
is obviously still extremely bullish i mean what's there to say uh i do believe there should
be some pause uh at some point i just don't know when or where it's gonna be uh and i do believe
there will be a pullback as well i just don't know again when or well where this will be if you
look at the fib extensions from the entire range uh 30 000 will be like the next
region that's interesting for uh this price action so in my opinion i
think 30 000 makes a lot of sense just from a psychological standpoint it is a nice
big round number similar to twenty thousand and uh yeah i'm expecting thirty thousand to
be tapped eventually if you look down on lower time frame charts uh we've been seeing the
last several weeks is or last week i guess are these same ranging uh consolidations uh for bitcoin and then a further move up
and you can kind of see that too from starting at the 20ks i mean price
ranged in the 20ks for a little while which makes sense given it's uh it's just you know
it's the former all-time high level psychological resistance but i mean to be honest there's
always going to be a lot more liquidity higher so i thought that it was going to go to
at least 25 or i'm sorry the low 20ks i didn't know where it was going to stall but and
i still don't know where this is going to stall uh for me personally i'm still targeting
30 000 in the short term and then we'll see just because of the psychological number uh as of
right now we're about to see here if bitcoin is going to stall out i mean you can clearly see
this range for me now again where it wouldn't surprise me to see price continue just
to range here in this uh 26 k to 28k area and one thing that i thought was interesting
too was when you look at this chart before you could see heavy heavy selling the price
not moving this generally is a sign of either distribution or a top forming or it's absorption
absorption is basically where you see one side pushing very hard and the other side absorbing all
the cells or the buys depending on again if this is a top or a bottom but if it's absorption at
the top and you gen and you think this is a market top in the short term you generally see a lot uh
more bearish wicks higher you'll see uh you know candles wicking above looking above looking above
and not being able to break through and uh slowly breaking down and tapping uh the lower parts of
the range frequently for this instance this was wicking above but not you don't see super violent
wicks you just see these these kind of slow price action movements with heavy cell volume and
what the heavy cell volume means is that the sellers are pushing very hard you know they're
exerting a lot of effort to try and push price down but price is not moving uh super far down so
generally that's a sign of absorption and again this can also happen at the bottom as well of a
market um when a market is going to uh start to reverse to the upside so you'll see a big impulse
down you'll see price ranging within a tight range what you'll see again is you'll see a lot of cell volume during these moments and
price just hanging around that usually means that the buyers are absorbing those cells and
price once the sellers get exhausted you'll see price start to move up and you can see that again
for these continuous continuation patterns here and bitcoin basically just continue to move up but
regardless it's important to also understand that uh market tops always take several days to
happen uh i expect nothing less for this but as of right now it it just still looks
like it's gonna make another leg up i don't personally see this moving down quite yet i
think if we are going to see this big big move uh big retrace i think we'll see some sort
of blow off top first something like this is like what you're looking for back in uh
2019 you know this type of price action here is kind of messy you could kind of see this first
blow off top now again this this move right here was pretty overextended but you can see these
bearish candle closes and price starting to wick in both directions lots of volatility huge
volume relatively speaking and this is kind of an indication of a market top and what
it looks like at least in the short term uh and once you start to see market structure
break on lower time frame charts where you can clearly see some lower highs being made
that's uh at the point where you should consider taking profit for sure and uh you know possibly
just getting out and obviously this type of stuff is always so easy to see in hindsight you know
it's it's harder when it's actually happening but that's why checking price on lower time frames
is important so what am i trying to say uh my overall bias for bitcoin is that i believe
this is still bullish for now until proven otherwise uh you know we did see high cell volume
before it was a little scared to look at but overall this is still bullish so if this
market if btc usd continues to move up then i think that most all usd pairs are going to
be bullish however we're seeing some pullback now for many alt usd and definitely all btc pairs
so if you are trading alts i would recommend trading in the usd pair uh that's that's that's
going to be that way until all coin or i'm so i'm sorry until bitcoin finishes this run
and you know if this does pull back hard uh the areas that i am viewing are this
20k region for sure and there are a lot of smaller levels on the way down as well such
as this area right here this 20 uh 24k area and eventually if price does break higher this will
be like the first line of defense if price starts pulling back at 30k you know goes to 30k drop
and we'll see if it's continuation or if it will seek the next area of liquidity which would
be this 22 to 24k area and again 20k is going to have a significant amount of support as well
uh generally speaking if you look from a volume profile i actually don't have that anymore but
you'll see that this type of area right here uh will want to be filled out eventually so
it wouldn't surprise me eventually to see you know 20k tapped or even possibly lower but uh
these would be my areas of interest like 24 22k uh first up would be 28k so it should
provide these areas should provide temporary bounces but it's i do believe that
one of those negative 15 to 20k or 30k i'm sorry 15 to 20 to 30 percent type of moves is coming i
just don't know when or where it's going to happen and if if it does then i'm looking at these
regions right here but again as i said maybe it'll be 30 to 35 000 before that happens uh
ethereum usd i generally think that this is going to keep filling uh our following bitcoin in
general i think that this will just continue to keep moving up and i think that the overall
upside for ETH USD is generally going to be higher than btc for right now just because of
where they're currently at i mean this current area here is all supply or resistance whatever you
want to call it so this is a weekly ob here and i believe that it may take some time to chew
through it but once it does these other levels following are not going to be super strong
around well around a thousand dollars should be significant resistance just
due to a psychological number but i still am very confident that ethereum will
hit a thousand dollars within the next few months uh still with the idea that basically ETH
USD uh you know from the bottom will hit over a several month period it'll hit a thousand
just because the last several years this has just been very common i mean it's at this
is 300 from the bottom this is 150 from the bottom over the following months that
is and obviously alt season was just insane so yeah if we use this low here starting in
december 7th like 100 percent would put us at thousand dollars i think that's totally reasonable
for a target for etheusd um still heavy volume coming in looks really nice i i think that this
is going to be pretty good but in general many alt coins are going to follow btc so if this if btc
pulls back then ETH usd will certainly certainly pull back as well i don't think you'll see one
uh deviate from the other generally speaking uh xrp let's go into xrp it looks
obviously pretty ugly right now i think at some point maybe around the 14 cents
area we'll see some support basically whenever people decide that the risk is worth it to catch a
falling knife that's when this is going to reverse larger and you saw it yesterday with a short
squeeze where we saw price rebound hard and it went basically uh 50 in the span of like an
hour but obviously this is pretty short-lived and price is price already pulled back
quite a bit and it wouldn't surprise me at all first to see price just go
back to the base area just go back here i'm not really making fun of ripple too much
i feel it's not honestly it's it's probably not great for crypto in general uh that ripple's
just getting destroyed and it's it's scary to see regulation too just from a general standpoint
but in my opinion i think ripple will probably eventually go lower and i also think that
ripple will eventually pump i just don't think it's going to pump as nearly as hard as
it used to just because of the fud around it so here is a coin that i'm personally trading right
now this is ada and this is just a simple sr flip i have more orders down in the 17 cent area i
don't know if i'll get it or not we'll see uh i missed this original move i missed this
entry by point zero zero zero five cents or something like that and that really pissed me
off but is what it is uh this was the obvious supply resistance area and price wicked above
it and now it's it's coming back into it personally i think this is still bullish
in general like look at the volume this just looks really nice so yeah i and this
volume also it's important to understand the context too this volume is coming big after
a large consolidation period it's not coming at the end of a big run like you saw right here
uh in october and november when price basically had this huge move you know you saw a
big volume obviously which was nice but this is more like a blow off top uh just like a
top a short term top and then accumulation and now hopefully it's going to make another move
again and like the volume is still nice so this is one that i i i i am in right now
uh let's go into a few different altcoins uh we'll go into link and rune is one
that i wanted to check out and then we'll check out some of these other ones uh okay so link price i think is just
basically going to be ping-ponging between this uh nine dollar area to sixteen dollar area i
think that price is just going to basically be ping pong in here i don't know when this is going
to move but i still feel pretty good about link being pretty strong in the coming weeks and you
can kind of see some sort of weird like rounded bottom kind of not bottom but just like a rounded
i don't know if you can you can't really call this like a cup and handle in my opinion it's the
handle looks too uh it looks too deep but you know it wouldn't surprise me just to see this basically
go ahead and test nine bucks again and then go up you could maybe argue for
this being some sort of like like just i don't know double bottom i i don't
know it's not really like those are usually more seen at like the the bottom bottom of
like you know after a huge downtrend but i don't know i still think that link
is gonna be pretty bullish the chart itself doesn't look fantastic i'll admit uh price filled out this inefficient move here
for the most part and now it will there are definitely going to be sellers up in this current
this this area at the the peak near 20 bucks but from a fundamental standpoint i
still feel pretty good about link and i think that price is still possibly
going to fill out these inefficiencies below so you'll see this and then you'll see price hitting 20 bucks price rejecting and then further movement up
i think that this is still very bullish though uh once i'm more betting on
fundamentals and i'm more betting on december being very nice for all coins roon
was one that i always kept wanting to look at and buy i kept wanting the 71 cent 72
cent area it never came unfortunately so i think this is a really bullish project i think
it's still really a nice one personally and it's still stuck in this range well
it's exiting this range currently uh here this is just a better way of doing it yeah this is still like really
this is really bullish fa though uh check out thor chain if you haven't yet
but this is it looks good this chart itself is bullish in my opinion this is breaking out
of its range big volume to come along with it is what you want to see expecting to
see sellers around the 1.30 mark so i'm expecting and there could be older charts too
that i i just i'm not aware of but this is uh what we have so i'm guessing we'll see something
like wick above maybe a retrace and then go up higher i don't know how big this
retrace will be but we shall see uh theta i reviewed this one recently on my
accumulation video and i'll be releasing that officially soon it's actually already on
my channel but i'll be talking about it i'll probably be releasing it tomorrow or something
uh so i did want to talk to you guys about coins in general oh so this is maybe
not the best example right now but when you are thinking about what coins
to trade given the market context uh obviously many all coins right now
are pulling back like pretty much nearly the entire altcoin market if i mean here's my
regular list like it's just like a sea of red and i know this is like a ton of all coins
but this is just kind of my watch list and i have it grouped in categories but uh like you'll
just see a sea of red for many of these alts and in general it's not great to be trading many alt coins because alts
are generally a very correlated market where either they all do
really well they all do really poorly if you are looking for the altcoins to trade
i generally always recommend like in these conditions i always recommend the ones that
you that are really bullish and theta would have been a great one in general over the last few
months after broke out of this accumulation period here it started moving very strongly but
you know as of right now it's still it there's some signs of market top right now like
high high cell volume and these wicks are not bullish in my opinion these are these are very
these are starting to get kind of bearish uh so just be careful in regards to trading something
like this now but i mean this is still bullish until shown otherwise but what i'm trying to
say is you want to find the coins that are very bullish in these conditions so uh like
the yesterday ada was pretty bullish today it's pulling back as i showed on uh the chart earlier
but yeah through this list that i have it's really just it's just a sea of red this is it's
usually best to basically stay out of the market uh you could look for shorts too because many of
these these coins are just like bearish right now like they're they're pulling back huge uh you
know yfi here's a coin that basically i still am bullish on in the coming weeks and months
but this absolutely could just go ahead and test uh 20k again you know it maybe the best plan
is to just go ahead and start shorting i i don't know it depends on your strategy depends
on your time frame that you're working with but my recommendation to you guys
right now is to either just trade the trending coin like if you want a long
just the the bullish trending coin or to basically sit out of the market uh the there's absolutely
a lot of money to be made by shorting two but generally speaking this time of year is pretty
bullish for altcoin so i will warn you on that uh i'm not sure when or where these
all coins will reverse but you know and zilliqa was another coin that
two that was a good coin to trade the rece in recent memory just because it was
really uh bullish like this is a huge parabolic run but in general it looks like it's potentially
pulling back now like again these aren't really super bullish this isn't super really bullish
price action uh in the sense that you see like these candle closes like they're wicking
hugely above that's usually not a great sign and you see like a lot of volatility and
volume this is usually a sign of market top so yeah if you want to trade alt coins i'd be very
careful on selecting specific type of altcoins and what you're longing and what you're shorting
if you you're like many other alt coin traders uh who like to long only and
there's nothing wrong with that i personally was like that for a very long time
i would probably only look for coins that are doing very well and there's really not that
many of them right now that look great dot is actually it's pulling back now but i mean
dot is one that you could potentially buy and snx is also one that looked pretty good
too but again short term this isn't really super this isn't super uh bullish with the
way that price is going in the very short term like i think very possibly in the quite coming
weeks this is going to hit ten dollars but for now uh it wouldn't surprise me to see this go
a little lower i mean you see price wicking above huge cell volume and uh yeah so what i'm
trying to say again is that if you want to trade uh these types of altcoins i'd be very careful on
what you're choosing and what strategies you use it it's probably better just
to either stay in bitcoin or trade majors generally majors are going to
follow uh bitcoin so like you know if bitcoin goes higher then majors are generally going to
follow ltc is at a pretty good area right now where there's a lot of sellers and this is
resistance and this was a significant cell zone given this was the peak in 2019 and
price is basically going to take it's gonna need a few days to basically get through this
area in my opinion and it's still bullish but it's really going to depend on btc if btc makes
another leg up i fully expect this to also make another leg up and that's another strategy you can
do if trading alt coins is is if uh bitcoin starts to make an explosive move you know up five percent
or something like that in a day then and you see ltc and eth usd both like doing nothing those
are usually pretty good longing opportunities where you can just blindly long a major and you'll
see ltc and eth uh have pretty good gains usually not as good as bitcoin but uh you know if you
are looking for a lagging type of strategy uh regardless i am bullish on ltc and i think
that this is gonna go higher but as i said before if you're looking for specific altcoins to long
uh you know now is not a bad time to either accumulate in the btc pairs uh for the next few
months or short term scalp shorting and if you do want a long only then find the trending coins i
mean comp is doing great today is that going to be something that it'll keep following up with i
don't personally know i mean this price action kind of looks shitty so i i i can't really
say about what this is going to do in the next few days but yeah generally speaking
you want to find the the trending coins so i hope you guys enjoyed this video i know
it's a little long but uh thanks for watching
