🚀Buy OR 🚨Sell Crypto Today? (Bitcoin Price & Altcoin Market Update)
So what do we have over here? First and foremost, most notably youre going to see a lot of talk about this uh on youtube across the board, and that is the 200 weekly moving average, which weve now closed one two weeks underneath – and this has never happened before. What does this mean for the market going forward? Well, i can tell you its not really a great sign. I mean we dont have any historical data on this and what happens when, when you start closing under these moving averages for more than two weeks at a time, but if price doesnt get moving soon, it will be a bad sign and im going to show you Today, what im looking at on the lower time frames and why i am remaining very, very cautiously optimistic, but leaning more on the neutral side until until price pre action proves to me. What comes next so, as mentioned its going to take a couple of weeks. But you kind of have to watch how price reacts within this range. You stuck between the 200 and 255 ma on the weekly chart and that kind of creates a situation where, as price starts, to consolidate sideways, we start gearing up for the next big move. Now, when you have a look at this chart over here, which is your bitcoin dominance, youll notice that weve almost come and tagged that 43 area, which are outlined on the previous charts uh last week, and what i would expect to happen over here is possibly some Sort of a deviation im just going to move that to the side, so i do expect that if it tags this area over here, it will kind of deviate back up so heres.
Your deviation back above the mid range and then start to target the top side of the range over the end, that is on bitcoin dominance, which means that alt queens, probably dont, have that much more uh sort of a bullish scenario to play out over the next. Coming weeks, if, however, you do start to lose that area and you go underneath retest the diagonal as resistance and then go down well, maybe then it will be out season, but uh currently were getting to that kind of point where we need to reevaluate just sit On our hands remain patient and wait for a stronger direction of whats. Exactly going on youll notice over here, with the four hour chart put on the bollinger bands. Look at how low that volume is so we had high volume over here on the left, hand, side and so far its just been teetering down becoming very, very low volume, with a squeezing or pinching together of the bollinger bands, and that usually again, that supports the Thesis that the tighter these bollinger bands get the bigger the next move is that you can expect in the coming days. Now, of course, we want to get that direction. Correct uh to be on the right side of the trade and ill show you what im looking for on that. First, most, notably, you have your range over here on bitcoin, so with the bitcoin price. On the four hour chart, you have your range high coming in at 22 879, you have your range load, 18, 000, and then we have the mid range at 20.
300.. You can see that price has slowly started to kind of creep up its regain the 2150 ema on the four hour chart and, very importantly, its its made a sloppy higher high, but nevertheless it is a higher high. So if i just copy this over here or lets just grab that one so over here relative to that one, you can see that the two closing candles over there are higher than the two closing candles over here and you have your lows, your higher low and So forth, however, ill show you why im going to remain cautious as a bull, because in theory, despite it being sort of a sloppy higher high, you, you kind of, should be looking to buy the next higher low, and this is kind of my thinking over here. Right, you have this horizontal box, which is kind of grabbing all the liquidity over here, and because we have the bare moon thats coming up tomorrow. Again here were back on the bear moon. You can see its literally going to print tomorrow because we have that and because its a sloppy series of higher highs, i would feel much more comfortable if we were able to clear above this horizontal liquidity box over here. If, in the next couple of days, we can clear back above that and hold above you, i would be more comfortable too long, but at the moment im just going to remain cautious im, currently not in any trade whatsoever.
Im just sitting on my hands, but you kind of want to see something like this back above retest now youve cleared these areas over here on the left hand side. So if you can get above about 20 lets call it about 25 22 500 in this zone, and you can hold that i would be more comfortable buying that higher low over here, so this zone until then, im just going to remain patient sit on my hand, See how this plays out tomorrow, um and its going to look similar on altcoins altcoins are exactly the same theyre all coming up against their resistance. If you look at the momentum oscillators and what theyre showing, if you go on to a daily, you can see, they are pretty much topping out theyre. Looking like theyre starting to turn over, i think on the 12 hour, theyve already started to turn back down. So you can see there, they are starting to turn down. Lets have a look at the eight hour, all right, also at the top looking to turn down so basically in a nutshell, im definitely remaining cautiously optimistic im, just waiting for more confirmation. I havent taken any trades, but if you do want to see when i do take my next trade, please follow me on twitter ill. Make sure that i update you over there. Everything will be posted and havent posted much on the weekend again. Just because i sat on my hands and if you go, have a look in the description below on youtube over here, youll find the correct links.
There are scam accounts, so be careful of those. If you enjoy the short crypto content, please make sure that you hit the like button uh below over there, like my own video and then also make sure that you subscribe and hit the bell notification thats pretty much it from me. Guys. Uh youll also find the buy, but referral link over there. If you do wish to support me in any of the trades going forward thats the best way to do it is to hit the pivot referral link in todays newsletter, which is below as well. You can subscribe to that. I will update you on the exact levels that im watching and my line of thinking going forward. So thats it from me guys. Until then, i will see you on uh the next video which is tomorrow, and this video is proudly brought to you by unix gaming have a fantastic day out. There cheers for now. This crypto shorts video is proudly brought to you by unix gaming, the leading web3 gaming ecosystem, not only a worldwide gaming community unix is a launch pad a gaming studio and a tekken content creator that serves the bridge between web 2 and web 3.