Crypto Market Review: BTC + ALTCOINS (August 11, 2021)

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make these videos worth it going forward hey   guys Altcoin Sherpa here with a crypto market 
review as always this is not financial advice   i am not an expert doing research okay so let's 
look at btc this is a bullish chart in the mid   uh short term in my opinion i've always really 
thought and people that watch my videos before   uh you guys probably saw that i was very adamant 
about these overall lows holding on high 10 frame   charts around 28k and i still felt that price 
was going to go to 50 000 before anything else   now with that said uh price could still go 
to like 20 000 after it hits this 50 000   dollar area but i was going to be pretty surprised 
if um price was going to go straight to 20k from   these lows uh there's a lot of reasons for 
that but the biggest one is just that a lot of   people got liquidated on this big move down higher 
liquidity uh is or there's more liquidity up here   now you can see this 50 000 area is like a sr 
level it's a demand or it's a supply zone it's   high volume uh node as you can see on this volume 
profile indicator so this is really the kind of   the area to watch in my opinion and this is like 
kind of the area that i'm watching myself and i   don't really know what's going to happen after 
this uh area is tapped price is slowly grinding   up which means it's really good for all coins when 
price rockets up or rockets down you'll see that   all coins usually suffer especially in all btc 
pairs but right now we're seeing all usd pairs do   pretty well and in all bt spears as well because 
of the slow kind of grinding price action but   i do believe that the danger zone is coming 
around 50 000 um because of how long price   consolidated in this area it could even go even 
higher up to like 55 000 or so i think it's   unlikely that price goes up above all-time high 
levels i just don't see it happening from here   eventually sir sure but i think it's more likely 
that price kind of goes up to like you know 50   whatever comes grinds down to like you know maybe 
mid 30s and then we kind of just chop around for   the next few uh next few months or weeks i i could 
see something like this like you know higher lows   um that's kind of like what i'm expecting in my 
opinion uh that's kind of my overall plan i think   that the overall macro lows are probably in but 
again i'm not really positive quite yet uh still   like kind of i i really want to see what is going 
to happen at 50k so that's kind of my overall   outlook on this like 50 000 is the area to watch 
um i do think there will be a pullback around   that area i will be going more risk off uh with 
a lot of my all coins when it comes to this area   and i do think that a lot of all coins will be 
facing some significant resistance areas as price   continues to grind up so let's look at each usd 
here etheusd similarly to bitcoin uh i felt that   this was going to go to like 50 i'm sorry 3 500 or 
so and that that's with uh that's congruent with   bitcoin going to 50 000.

So i think that something 
like this is like pretty likely you know high   three thousands high to mid three thousands 
for uh ethereum and i think that there will be   uh like pretty good supply zone all throughout 
this top end around 4000 and then also this   current area too is also supply zone so in other 
words like this entire area seems like kind of   dangerous area to long i personally would not 
long myself i would look to see the reaction   around you know mid 3ks to uh 4000 but it's again 
it's really going to depend on bitcoin as always   uh this chart looks okay but i do think that 
there's a high probability that this there will   be like a pretty good shorting opportunity up 
near the 4000s don't know where it will be um and from there again similar to bitcoin i 
have no idea like i i'm not sure um so btc   uh i think the overall it still 
looks like a good chart i mean   as i've said the last several weeks too like 
this is still like a macro uh bullish chart   for eptc uh you can see like this higher low is 
being formed right now still like lower highs   too but um it still wouldn't surprise me if o55 is 
tapped again like that's certainly a possibility   but this is still like a bullish context uh in 
my opinion still like a bullish market structure   uh we're still seeing kind of like these higher 
lows uh well we could have actually maybe seen   like a breaking mark structure recently too it 
really depends on what you denote as a high so   if you denote this a high which certainly looks 
like a high in my opinion uh and then you denote   this recent move as kind of like a low well 
okay you can also call this a high too i i   don't really call this a high myself but i mean 
regardless if you call either one of those a high   this recent move up has been a higher high um and 
you could maybe denote this right here as a low   set back in late june and then you can denote 
this as a kind of a higher low area all throughout   late july now again it it's very subjective 
on what you want to call a high and a low like really as i said like you know i mean the 
market is subjective in general especially the   way these that we chart like us retail plebs but 
uh you know i think that overall in high timeframe   charts e3 still looks pretty good i think it's 
likely that this continues higher don't know when   it will like it's still i'm still expecting a 
lot more chop to be frank and honest with you   it would make sense that this consolidates for uh 
another few weeks and we stay within this range of   083 and then 05.5 like still just chop around and 
then we make like a big move up in the uh in the   winter i think that that seems pretty likely 
that's kind of like the uh scenario that i'm   viewing uh let's just look briefly at some popular 
altcoins i'm gonna look at matic and then dogecoin uh the matic network has a nice move today uh 
you know it was just consolidating before and   like i didn't really think it was an active 
trade right now it finally broke through   this resistance area so we're seeing we 
saw this area right here as resistance   all throughout this range i mean it couldn't 
break through it looks a consolidation before   breaking down and then now again it's it came 
back up to the range consolidated and now it's   breaking through but uh i didn't take a trade 
like this because i was a little bit unclear as to   where my stop was i mean i could have used below 
a dollar that was like a pretty clean move um   but i think that a safer trade right now is just 
to wait for the retest around a dollar and then   and then kind of go up but this is kind of like 
a like high volume uh trading area around from   one dollar to 175 so it wouldn't surprise me to 
see more chop around this kind of uh this area   that's kind of what i'm expecting for 
matic um wouldn't really buy here myself   i mean this is like you can consult call 
this a supply zone called resistance high   volume node right here as seen with 140 but um 
something like 120 could be an interesting buy one scenario that i'm really viewing 
actually and i posted this chart in other um so this is kind of like what i'm 
expecting actually for a lot of all coins   this is snx usd and if you can 
see back this is uh back in 2020 uh this was after decentralized finance all coins 
all started to die off and this was actually   happening while bitcoin was going up which is 
usually not it usually doesn't happen usually   all usc goes up as bitcoin goes up but this was 
just pulling back huge and what we're seeing what   we saw back in 2020 late 2020 was kind of this 
v-shaped reversal where things started to pop   off in late november and it went from uh 250 all 
the way up to 50s or so so it doubled and then it   consolidated for a few months uh more and then it 
just took off so a lot of coins have this type of   structure right now that i'm still viewing this 
right now as like a potential scenario for a lot   of all coins and what we could see right here is 
kind of like this v-shape reversal that we saw um   and then now we're just going to see like more 
chop now it did come back down like pretty far   but i would like to see like a higher high form 
for a coin like snx and i'm trying to think of   the coin that it was i think it was dot let me 
take a look here yeah okay so dot is this is like   this scenario that i'm viewing for snx like like 
similar to snx back in 2020 this makes a v-shape   reversal comes back down consolidates for like 
a few uh weeks and then it it moons that would   be like the scenario so this is dot right now and 
this so far looks kind of like a v-shaped reversal   i mean we just see like nothing but green uh come 
up all the way from the bottom around ten dollars   it's doubled since then and it wouldn't surprise 
me at all to see this go even higher up to like 30   and then uh we see a pretty big pullback and then 
like chop and then one more move up so that's   kind of my overall scenario for alts uh many all 
coins that have this kind of kind of uh structure   and um yeah that's kind of like i still think 
that things will look pretty good in q4 so those   are kind of my thoughts right now thank you 
guys for the support thank you for watching

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