Bitcoin Rejected! | Stock Markets Losing MAJOR Support! | Options Closeout!

The Bitcoin price and the rest of the crypto market are taking a massive DUMP! Join Sheldon the Sniper in this special episode of Crypto Banter live to see which price levels NEED to hold! Could we see a 12K Bitcoin sooner than expected?

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#BitcoinDump #Altcoins #CryptoTrading

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00:00 Bitcoin Dump & Stock Market Rejected
05:30 Dow Jones Index & S&P 500 Pullback
10:04 Bitcoin Dominance BTC.D
10:58 USDT Dominance
11:43 Bitcoin Technical Analysis
13:35 Bitcoin Price Support Levels
18:25 US Dollar Index DXY & Crypto Total 3
21:06 Trading Ethereum ETH

Related Questions:

Why did Bitcoin Dump today?
Bitcoin Technical Analysis Today?

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Foreign [Music] [Music] So we have the markets rejecting as we Speak sorry guys I'm extremely cold I'm Here in Switzerland which is absolutely Incredible but it is very cold so you Can see I'm sitting in the hotel room Um very warmly dressed hope you're all Having a great time I see markets have Started to reject I see that Bitcoin Made its way to the 50 moving average we Were on our way to the 18 000 I think We're around 18 400 which we spoke about This being a critical level now it's a Level where we've held really well of Support for the last few weeks we then Dropped that made the lows of fifteen Thousand five hundred and then we Started to make our way up to these Zones now we got two two big ways here Firstly we had the 50 moving average Okay and the 50 moving average on the 12 Hour was something that was showing us Bullish momentum we had the cross of Those lines which I'll show you guys Shortly and ultimately we're still Holding the bullish momentum line but Ultimately what we've been speaking About out is the pools have a selected Amount of time left and ultimately we're Going to make our way to the next Zone And the next zone is a 50 moving average On The Daily and we hit it we broke it

And we closed below it when the stock Market rejected hard now we have the Options closing today and ultimately we Are seeing the stock market getting Rejected pretty hard now we have two Different charts we have a Bitcoin chart That's been doing this over the past few Weeks and we have a stock market chart That's been doing this ultimately we did Have the slide decoupling we've always Been speaking about the the decoupling And we did for a while and what happened Was we got the 50 basis points things Were seeming really good and then the Stock market obviously rejected pretty Hard now what I do like about obviously We don't like the rejection of Bitcoin And the 50 moving and I'm going to speak About where is the major supports in Order to know that you know are we going To make the new lows are we going to Capitulate but I like that this is not a Crypto only sort of attack or third just On the crypto Market it though that That's usually what's been the massive Exaggeration and the big dumps in the Market with the FTX crash you know this Is the stock market clearly pulling back Right now and because the stock market's Pulling back we're having a crypto Pullback so this isn't necessarily fully Focused on crypto and crypto is not just Dumping because there's something bad Happening in the space it is the stock

Markets so guys what I'm going to do Here is I am sitting in a in a hotel Room so I'm going to go through I only Have one screen uh so I'm going to go Through the important levels for Bitcoin What we're seeing for the rest of the Year uh ultimately where is Major Supports and what will create Capitulation from what zone do we lose And all of a sudden we start to get Massive rejection Um and obviously what is the bullish Scenarios and where does the stock Market go the Dixie has not broken Trends with upside yet and neither has The 10-year yield but if they do you Know this does mean that the stock Market can come down another 10 to 20 Percent so no more wasting time Josh Push a button let's get into the show And let's hit it Click click have you heard the news what Where this finger on the pulse it's like Sheldonough click click when the sniper Shoots we got Sheldon on the charts so We never lose [Music] Activated explosions in the market are In Target and Sheldon demonstrates and Every mirror on the wall Master Sheldon Tell us all we got Sheldon on the Jaws Yeah [Music] Foreign

[Music] Not 100 too Um but I hope you're having a fantastic Day I am currently on holiday my mother Has always wanted a snow Christmas we Are here in Switzerland we're doing the Whole Christmas Market Vibes and then we I mean please please correct me I'm in Montreal Montreal I'm used to saying without also please Tell me if I'm saying it right and after This we're going to zomat and then we Are going skiing and we're on all the Mountains and even though this has been A terrible year of crypto crypto has Given me the opportunity to take my Family on a big vacation like this which We've never been able to do before so I Want to inspire you yet again to not Quit in this space Stay Stay fighting Stay hard because it will reward you at Some point and it rewards you big my Whole family even flew business class Guys no one in my family's ever done That my whole family has just done it so For me it's a really incredible personal Uh achievement and I just want to say Again guys don't quit keep going and Keep pushing throughout all of it hope You're all having a great day remember To smash the Subscribe smash the like Button and let's get into the charts So the first one guys Dow Jones we're Going to speak about the s p because the

S p is obviously looking a lot weaker Right now than uh than the Dow Um but end of the day what we did get From the Dow Jones is we did end up Getting you know quite a good amount of Progression to the upside the Bulls were Doing pretty well over there and this is Probably our last when it comes to stock Market Um sort of this is probably our last Chance for the Bulls to to hold the Level and uh to continue this momentum To the upside the SMP is showing a Slightly different chart which I'll jump Into now shortly but ultimately this Chart showed that we did reclaim a Higher High View and we do have the 50 Daily moving average and that's Basically sitting at the support trend Line that we just broken through so as We are seeing we are seeing a pullback We're not surprised to see a pullback From the stock markets at some point Um it did get a nice little push up when We got the 50 basis points things were Looking good for the last uh two three Days and and then we did decide to pull Back and ultimately what we just want to See here is we want to see a very small Pullback we want to see us hold critical Levels and ultimately not break back Into these ranges now reason being why We don't want to break into these ranges Is because if you do look at the SMP

Which I'll get to now for you guys over Here Only one screen only one screen uh here We go so this is obviously not looking As great now SMP we have to have a look At this chart we did have this major Trend and I think Karl dupes did speak About it earlier that this is not a good Rejection we do have the 50ma on The Daily though which has always been a Pretty good support Zone not so much Recently on the stock market but for Crypto it's a it's a really great Indicator and ultimately we have one Support and one more support in the area And it's basically just showing around The 3800 Um Mark that this is last support Because if things do turn over here it's A very clear lower higher and ultimately This will indicate a lower low and that Can take us down to way lower levels now Where can that take us this for me Probably highlights a lot on where if Things turn really bearish throughout These times and that this probably looks Like an area would go test and if we had To look at percentage-wise on where that Would basically take us from where we Are now you know it's a 12 down in the SMP which is huge you know it is a Really big move and I don't know if that Will break the lows of Bitcoin I think I Can take it near but maybe it does and

If Bitcoin does break the lows which I'll go through shortly you know Capitulation is still possibly on the Cards but for me in order for a Capitulation or something like that I Need a crypto Catalyst too you know we Saw the crypto Market done pretty hard In the last two three weeks why because The whole FTX you know there was a big Reason on why it did that and ultimately If we are going to capitulate and Bitcoin is going to make the lower lows And finally go test of 14 or 12K which I Do think is going to happen I didn't Think that it would happen right now I Think um you know we knew it could come And we knew as soon as we invalidate the Previous loads it's definitely a Possibility but ultimately for me you Know a nice little rally up for two Three months and then depression next Year is sort of what makes sense Emotionally because things to just keep Dry dropping like this dropping like This you know it just seems that we're Still getting caught up in that trap and I know a lot of people are like you know Bearish bearish bearish you know this is A bull trap bull trap like it works for A while but as I said previously the Market will turn at some point and Destroy all of those that continue to Stay in the negative mindset uh while The the lower mindset it's very similar

To being bullish at the 60k level last Year Um those soon all got trapped out so Obviously this yes if we do hold this And the Dow the Dow chart is the one That makes sense Um to me on this pullback because we're Looking at why are we pulling back right Now and why is it working you know Pretty hard to the downside and the dial Showing that a pullback was needed but Ultimately a small pullback hold these Levels hold the 50 and basically we have Rsis that are resetting so we've got Stock market our uh the the stock RSI That's resetting and what it basically Means is a hard drop first And we go sideways for a few days and Then possibly a slow grind to the upside So stock market's very clear on why the Crypto Market is currently looking like This for the day and then we have Another chart which is the dominance and The dominance we can see very clearly is In Bitcoin territory all eyes on bitcoin Right now and this is where the big Thing has come guys I spoke about it two Three days ago in my last show that Getting out of the market for me is a Very difficult spot because it's going To be pretty hard if the market Capitulates or you know breaks through a Critical area to get back into the Market but for me it was very simple

Bitcoin ethereum Bitcoin ethereum you Know there's time for altcoins we saw The all coins are lagging a lot right Now nothing Bitcoin everything is Bitcoin right now we can see even if the Market's pumping or it's dumping right Now uh the the Bitcoin dominance is only But going up so it's just showing Holding Bitcoin holding East right now Is probably the best and strongest thing To be doing Um yes you can focus on this chart if You want to Obviously it is a concern for us that The usdt dominance is breaking a bull Flag to the upside this is the all-time High and it just means you know people Are getting into usdt getting into the The crypto dollar But ultimately for me You know it's still not falling into That trap of a token that's been doing This you know all we see is up up up up Up up up up you know versus a token That's been going down so I do agree so Remember if you are selling your crypto And you are you know getting into usdt You are buying a coin that's been doing This so if you're cool with that and you Understand that Um that's cool but for me you know I'm Clearly focused on a token that's been Doing that you know for a while the the Bitcoin chart let's actually speak about Bitcoin and I'm going to go through the

Shorter time frames first and then we Can start going through the rest of the Um of the market so right now very clear Bitcoin time so what happened ultimately We had Bitcoin Spike up and it went to The 18-4 now what was that level and why Did we get rejected there this was the Level that we held for a very long time It was an area that when we first made The low of 17 8 it was an area we kept Bouncing remember this time for a few Weeks ultimately waiting for the next Push up and we finally lost it and what It basically means is this was a very Important flaw for Bitcoin and as soon As you lost the floor you know it Becomes the ceiling it now becomes a Level where you have to break through Again and remember the way crypto works Is basically just these levels so if you Lose this you know people are buying up On support on areas where we're seeing Strength as soon as that's lost it now Becomes a selling point it now becomes An area of where to offload and I spoke About this two three weeks ago about 18K Being an offload Zone you know being an Area where if we go up to go test that It might be a perfect place to turn your All coins into Bitcoin and turn a lot of Your coins um you know protect yourself At these points because this is going to Be be a very clear area of offload now Does this mean that that was it

Okay you need to remember something Bitcoin lost a lot of traction when it Lost these areas and it is going to be Hard to fight these zones these two Levels are way more Um it's going to be a lot harder to get Through these two levels when these Higher levels up here for me you know When we have back at levels of 21 23 I Think we're going to Breeze through These areas again I think these are the Two major areas because this is where Bears are going to try hold and continue The strong momentum to the downside so What we're seeing on shorter time frames Is we we did see a really strong Rejection Candle on the 12 hour and Ultimately what we have is two more Major supports and ultimately if we lose These supports you know prepare yourself For capitulation now the first one is The 618 which is around the 16-5 and Build store Falls beautifully into place With our moving average which I'll Quickly add in over here Remember guys add in these moving Averages because they are very powerful Right now and they they're really Working well Um so we'll make this the fifth year And we'll make this Really different color this goes pink There we go and as you can see it's Exactly where we had a short temporary

Little bounce this morning but Ultimately it's showing that that is the Area so anywhere between the the 16 5 And the 16 8 is a important support Zone We have one more possibly the 786 I Would say this is a weaker one Um not too strong if we do go there and What we have over here is also these Previous highs of the 618 which is Support now if you had to look at this As a normal pattern this is tanking now Because stock markets are getting pulled Down quite a bit right now I don't Really understand or see a major crypto Catalyst but if you had to look at it as A normal charting sort of view and you Know a normal price action this is a Wave up and if we do have a retracement Here it can still make another wave up To the upside so it's not a crazy Um you know shorter time frame bearish You know sort of view just yet unless we Do lose the 618 and we do loads of Supports because on the higher time Frame we can see that Bitcoin uh let's Jump through on the daily Here's the daily over here as we can see On the the Bitcoin chart on The Daily That this yes is a bearish pattern this One on a slightly higher time frame Where we have an uprise wedge like this It is a bearish pattern and if we do Lose these major area supports on the Higher time frame is definitely giving

Us indications for uh the the the lower Areas if not new actual lows so the way That I'm looking at it is I'm firstly Enjoying my holiday and I'll probably Say to you guys all just enjoy your time Right now and get a little bit of rest I Think next year is going to be a crazy Year off of uh of pushing together it's Going to be another long here hopefully A great one Um I do think bull runs 2024 but I think Next year is slow grind you know one or Two shakeouts along the way but a slow Growth back to recovery very similar to The time where we had the marsh crash Remember the March crash of 2020 with a Market literally dropped like I think 50 In one day you know it took us about Three months just to to get back to Those areas like a slow grind with these Quick little shakeouts and then the Gains only came after you know three Four five months then the market only Started to move and it's the same thing That I'm basically seeing here that yes We make capitulates which I'll go Through now shortly but ultimately Bitcoin just keeps fighting like this And the slow ground slow ground slow Ground slow ground you know this is what The market does when it's just been Through a really bad patch or really Strong push to the downside so on the Short time frame I'm just keeping an eye

I'm not going anywhere shorter than Eight or four hour right now enjoy your December guys but focus on the 12-hour Daily and the weekly and the 12 hour you Know for the next for the remaining of This week we want to hold at least the 16-5 we hold the 16-5 because the stock Market looks like it's going to probably Come down more If We Hold That level and We just go sideways for the rest of December you know we still okay for a Nice little strong push to the upside if We do hold these don't be surprised as Well if at any point you know maybe next Week because something like that that we Do actually have a positive reaction and We go and test I think we're going to Test this area multiple of times and I Think we're going to get rejected Multiple times I think we're going to Keep going up to the 18 uh four uh 18 4 To the 19 000 and I think we're going to Get rejected and I think we're going to Get rejected and we're going to just Keep fighting it until eventually we Break through and it's the same thing That yeah this previous support it kept Fighting it kept hitting it hitting it Hitting it hitting it hitting And then it eventually broke through and It's sort of the similar thing this is a Big wall guys for me there's more shorts And more bearishness here then the Higher levels up here and remember it's

Always going to be they're always going To try protect it as close as possible The best after that you know volume is Needed to get through You may have a sub of something here Volume is needed to get through these Areas once you are through these Critical areas you don't need much Volume to get through the rest of the Actual zones Uh let's look quickly at Dixie important Charts Um especially now on the smaller time Frames if you look at Dixie you know we Have that 50ma and it is getting a Slight bounce right now but no major Breaks to the upside if you have a look At the the trend line we have not broken That trend line This is a small little Push to the upside and I'd be using this 50ma as a as a indication on when we'll Get a serious move if we do get this Dixie to push back up to these levels And this trend line will indicate that That will definitely indicate that stock Market having that 10 to 12 retracement To the downside Um which could take Bitcoin to lower Range if not capitulate Um so the Dixie now this is still the Big one guys the the massive one that we Got to pay attention to Um which is the the total three Excluding Bitcoin and eth right now for

Me you know majority 90 of my portfolio Bitcoin is Uh I'm actually going to Mama sniper Straight after this and being like what Else can we protect just for now because If the market pumps at any point Dominance is going up eth dominance is Going up so those tokens will be the ad Performance they'll be doing well but if We lose this again guys you know the Total three we're back at the danger Zone again and look how close we are to This low and this is indicating all Altcoins you know other than Bitcoin and Eth you know the next support is 35 to 40 percent away so if we do decide to Capitulate and Bitcoin decides to lose The low all coins are going to get Murdered I'm telling you guys protect Yourself protect yourself protect Yourself with any all coins right now Um and we're seeing it on a lot of the You can clearly see on the crypto Bubbles how the altcoins you know are Are are hurting now if the market does Turn bullish at any point let's get back There's time to get into the all coins There's time so you know protecting Yourself it's up to you if you want to Make the decision of getting out of the Market into usdt again for me personally I'm not I think it's it's ridiculous for Me to get into a coin that's been going Up and up and up for the last you know a

Few months Um but ultimately the rest guys protect Yourself you know Bitcoin is you know These make sense because if we do Capitulate like I said previously I Think there's huge buy orders that are Sitting in these areas I think there's Huge buy order sitting between 10 and 14k for Bitcoin I think if we go to Those zones I think we're gonna we maybe We sit there for a few days maybe but I Think we're gonna bounce so hard at some Point it's going to be crazy Um I really do think I say I'm getting Tons of messages here Um I do think we're going to bounce Extremely hard Um let's see if we've got any other Indicators here uh east east I'm Speaking about East is slightly going uh Against Bitcoin right now you know Bitcoins is looking a little bit Stronger than eth as we speak Um but for me that e dominance chart and That is Um Yeah the E dominance and the E to Bitcoin you know was a very high high Time frame View and I'm still very happy With Bitcoin and ease when it comes down To those those actual two so guys what I Am doing is I am going to attempt to be Doing shows now over the next uh two Days so I'll be here tomorrow and I'll

Probably a Sunday I'll let you guys know Either tomorrow or Sunday Um so we can see where we are we have to Just take it now day by day for the next Two three days just so that we hold the Higher time frame views if we hold the Higher time frame views then we can Focus on what's next where can we look To explode next for now Bitcoin and Ethereum for me is the safest assets Capitulation anything like that they're The safest assets for me I would protect As many altcoins as I can just at this Level because if it drops it's going to Drop extremely hard and extremely fast And to get out of the market it's just Tricky because if you don't get back in Then you're going to be really upset you Know what happens if you get out at uh Now at 16k and Bitcoin goes to 12K and Then it's back at 18K in like a week or Even a day you know capitulations before They get quite wild Um and pretty quick to downside and then You never got your buys and all of that Was for nothing and you don't want to Make that for nothing so guys I'm gonna Go spend some time with the family I Will be here Um follow me on Twitter guys I'm gonna Be doing lots of stuff on Twitter have a Fantastic holiday guys like for me I'm With my family we're achieving something Really cool here we're in the snow we're

Doing stuff we never thought we would do Before so I want you to not give up not Quits and I'm here guys have a fantastic Uh day and I'll see you all on the next Show much love answer much love [Music]

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