Bitcoin Highest Weekly Close EVER! These Altcoins Are Next!
Bitcoin Highest Weekly Close EVER! These Altcoins Are Next!
215 days agoโ€ขCrypto Banter
Podcast1 hr 7 min
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Note: AI-generated summary based on third-party content. Not financial advice. Read more.
Quick Insights

Bitcoin (BTC) remains in a strong uptrend, with key support levels at $121,800 and $119,250 presenting potential areas to enter long positions for a move towards the $130,000 target. For Solana (SOL), which is showing extreme strength, a prime buy-the-dip opportunity exists in the strong support zone between $219 and $214. A contrarian bounce trade is developing in Netflix (NFLX), with a high-conviction buy zone identified around $1,100 near the 200-day moving average, targeting a 5-10% gain. For Ethereum (ETH), consider watching for pullbacks to the $4,480 - $4,440 area as a potential entry for a bounce. Lastly, a long opportunity in Ethena (ENA) is present around $0.58, with a suggested stop loss below $0.56 and an initial target of $0.65.

Detailed Analysis

Bitcoin (BTC)

  • The podcast opens by highlighting that BTC has achieved its highest weekly close ever, creating a very bullish sentiment among the hosts.
  • The current price is floating around $125,000.
  • A potential short-term bearish scenario is discussed: a "wick fill" where the price could see a small flush up to $126,000 - $126,500 before a rejection and a pullback.
  • Despite the potential for a short-term pullback, the oscillators and "cash flow" indicators are described as looking "very good" and not showing many signs of danger yet.
  • Key support levels to the downside are identified at $121,800 (described as a "super bullish" Fibonacci level) and $119,250. The speaker does not expect prices to go much lower than these levels barring major negative news.
  • An upside target of $130,000 is mentioned as possible in the next week, supported by a measured move from a descending channel and a 1.618 Fibonacci extension level.
  • A concern was raised about 71.7% of Bitcoin being held by retail investors, as "retail doesn't tend to make the best decisions."

Takeaways

  • Overall Sentiment: Very Bullish on the macro trend, but cautious of a short-term pullback.
  • Potential Short Trade: Consider looking for a short entry on a spike into the $126,000 - $126,500 resistance zone.
  • Potential Long/Buy Zones: Key support levels at $121,800 and $119,250 could be areas to look for bounces or to enter long positions.
  • Upside Target: $130,000 is a key upside target to watch in the near term.

Ethereum (ETH)

  • A whale was mentioned who reportedly sold $4 million of spot ETH but opened a $67 million (50x leverage) long position, indicating bullish conviction from at least one large player.
  • Conversely, another research firm (Trend Research) reportedly took $303 million in profit from their ETH position, suggesting some large players are de-risking.
  • The next major resistance and "danger zone" is the previous all-time high around $4,950.
  • A higher timeframe upside target based on a 1.618 Fibonacci extension is at $7,300.
  • On a lower timeframe, $4,717 is a key resistance level. A fake-out above this level could present a short opportunity, similar to the discussed BTC setup.
  • Key support zones for potential bounces are $4,480 - $4,440 and a larger support level at $4,100.
  • The speaker warns against "longing the top" at current resistance, noting that the first reasonable support is 2.7% lower, and the next is 5.5% lower, highlighting the risk involved.

Takeaways

  • Overall Sentiment: Bullish, but approaching major resistance.
  • Potential Short Trade: A fake breakout above the $4,717 resistance could be a short entry point, especially if BTC also shows signs of rejection.
  • Potential Long/Buy Zones: Watch for pullbacks to the $4,480 - $4,440 area for a potential bounce trade. A deeper correction could find strong support at $4,100.
  • Take-Profit Target: The previous all-time high of $4,950 is the next major target and a likely area to take profits.

Solana (SOL)

  • Extremely bullish sentiment, with the host noting it's "kicking everyone's ass" due to strong Q3 revenue of $222 million.
  • Higher timeframe upside targets are identified at $252 and $295.
  • A major resistance zone is approaching at $240, described as a "FIB and order block danger zone."
  • The speaker notes that a beautiful long entry was hit the previous day at $226.
  • For those looking to buy a dip, a "mega zone" of strong support is located between $219 and $214.

Takeaways

  • Overall Sentiment: Very Bullish.
  • Potential Short/Take-Profit Zone: The $240 level is a major resistance area. This could be a place to take profit on existing longs or look for a potential short-term reversal.
  • Potential Long/Buy Zone: If the market pulls back, the $219 - $214 support area is presented as a prime location to enter a long position.

Netflix (NFLX)

  • The speaker is bullish on a bounce trade for NFLX, believing that recent "FUD" (Fear, Uncertainty, and Doubt) will blow over as long as the company remains profitable.
  • He has personally started a long position based on a simple bounce trade strategy.
  • The current entry was on a 38.2% Fibonacci retracement level.
  • A second entry point is planned around $1,100, which aligns with the 200-day moving average (MA), a level that traditional finance traders watch closely for support.
  • The goal is not a "moonshot" but a potential 5% to 10% bounce from these levels.

Takeaways

  • Strategy: Contrarian bounce trade against recent negative sentiment.
  • Potential Long/Buy Zones:
    • First entry was taken at the current 38.2% Fib level.
    • A second, stronger buy zone is identified around $1,100, near the 200-day MA.
  • Target: A modest bounce of 5-10% is the goal for this trade.

Astar (ASTR)

  • The token saw a 14% pump after hitting an entry zone the speaker gave on a previous show.
  • There is significant "FUD" surrounding ASTR, with allegations of wash trading and artificially inflated volume that mirrors Binance perpetual futures volume.
  • The speaker's take is to ignore the drama and "trade the shit out of it," viewing the volatility as an opportunity.
  • The entry yesterday was a strong support zone combining an order block and a 61.8% Fibonacci level around $1.80.
  • Potential for one more push higher is noted, which could create bearish divergence on the 1-hour chart.
  • Key resistance and take-profit zones for the current long are $2.2777 and $2.40.

Takeaways

  • Strategy: Trade the volatility caused by the news and market structure, regardless of the "scam" allegations.
  • Take-Profit/Short Zones: The $2.2777 and $2.40 levels are key resistance areas to exit longs or potentially look for a short, especially if bearish divergence forms.

Tower (TAO)

  • The speaker closed a previous successful long trade and then re-entered a new long position near the previous resistance, effectively "longing the top."
  • The reason for re-entering was that the oscillators looked bullish, invalidating a previous short setup he was watching.
  • New potential rejection zones where a short could be considered are:
    • $3.41 - $3.45: A "hacker zone" with a confluence of the 200-day MA, an order block, and the 61.8% Fib level.
    • $3.55: A confluence of the 78.6% Fib level and the 100-day MA.
  • The speaker is targeting $3.54 as a potential exit for his current long position.

Takeaways

  • Strategy: A hedge play could be considered. Ride the current long momentum up to resistance, then look to short the rejection.
  • Take-Profit (for longs): The $3.41 - $3.55 area is a clear resistance zone to exit longs.
  • Potential Short Zones: Look for signs of reversal and short entries within the $3.41 - $3.45 box or at the $3.55 level. The ideal short entry would be after bearish divergence forms.

Other Altcoins & Stocks

Ethena (ENA)

  • A long setup was presented based on a bounce from multiple support indicators (VWAP, 100-day MA, bullish order block).
  • Takeaways:
    • Potential Long Entry: Around $0.58.
    • Stop Loss: Place a stop loss below the order block, around $0.56.
    • Target: The initial take-profit target is $0.65.

XPL

  • A long setup was presented based on money flow bottoming out and a bounce from a key Fibonacci level. The speaker took a small position.
  • Takeaways:
    • Potential Long Entry: At current prices.
    • Target: The "golden pocket" Fibonacci retracement level above the current price.
    • Risk Management: Use a low leverage (e.g., 3x, not 20x). Place a stop loss below the recent swing lows, but be aware of stop hunts.

Brett (BRETT)

  • The speaker was prompted by the live chat to "long the top" as it appeared to be breaking out.
  • The chart structure looks similar to SOL and SUI, suggesting potential for a continued move up.
  • Takeaways (for the degen long):
    • Risk Management: This is a high-risk "long the top" trade.
    • Exit Plan: Consider exiting if a 1-hour candle closes below $0.474, or more definitively below $0.467.

Jupiter (JUP)

  • The token is facing significant resistance from the 200-day MA around $0.47 - $0.48.
  • A risk factor is the upcoming token unlocks of $24 million per month, which could create selling pressure.
  • A potential trade setup involves waiting for a squeeze through the 200-day MA and looking for a short entry at the 50-day MA (around the $0.50 level), which could coincide with the formation of bearish divergence.
  • Takeaways:
    • Potential Short Zone: If JUP breaks above $0.48, look for a potential short entry near the 50-day MA around the $0.50 mark.

EigenLayer (EIGEN)

  • A short setup was identified but the initial move was missed.
  • Takeaways:
    • Potential Short Zone: Set an alert for $2.16. If the price wicks back up to this level to "fill the wick," it could be a second chance to enter a short.

Starknet (STRK)

  • Another short setup where the initial move was missed.
  • Takeaways:
    • Potential Short Zone: If the price gets back up to $1.857, it could be a shorting opportunity, as this is a heavy resistance area with multiple moving averages.

Palantir (PLTR)

  • The stock fell on news of security issues but has since pumped.
  • A strong support zone is identified at $170, which includes the VWAP, 50-day MA, and a Fibonacci level.
  • Takeaways:
    • Potential Long/Buy Zone: If the stock pulls back to the $170 support level, it is described as "probably worth a look" for a bounce.

Gold

  • A historical pattern was noted where Gold has struggled significantly after doubling in price (e.g., at $1,000 and $2,000). The question is whether it will struggle again at $4,000.
  • Using a Fibonacci extension, a reasonable upside target for the current move is $4,100.
  • The speaker notes that divergence is forming and will continue to build until a "colossal crash" occurs at some point.

Takeaways

  • Upside Target: $4,100 is a potential target for the current rally.
  • Long-Term Risk: Be aware of the historical resistance around major doubling points ($4,000) and the building bearish divergence, which signals a major correction could happen eventually.

Market Indicators

BTC Dominance

  • BTC Dominance is currently seeing a rejection from the 59.3% resistance level, which is generally good for altcoins, causing them to bounce.
  • Key support levels for dominance (which act as danger/take-profit zones for altcoin trades) are 58.5%, 58%, and 57%.
  • Warning: If BTC Dominance breaks resistance and goes up while BTC's price is falling, it is a major warning sign that altcoins could get "decimated."

USDT Dominance

  • USDT Dominance is currently falling and losing support, which is bullish for the crypto market (means money is flowing out of stablecoins and into assets like BTC and alts).
  • A continued drop could lead to an "extended rally or a little blow off top move" for altcoins.
  • Key support levels for USDT Dominance at 4.1% and 4.0% are described as "danger zones" and "take profit zones" for the overall market. If dominance bounces from these levels, it's a signal to be cautious and take profits on crypto trades.
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Episode Description
Bitcoin just made history, closing the week at its highest level ever! In todayโ€™s video, Dylan breaks down what this record close means for Bitcoin, how the charts are setting up for the next leg, and which altcoins could follow next. Stay tuned as he analyses key market trends, price levels, and the momentum driving this crypto rally. ___________________________________________ ๐ŸŽ“ ๐——๐˜†๐—น๐—ฎ๐—ปโ€™๐˜€ ๐—ง๐—ฟ๐—ฎ๐—ฑ๐—ถ๐—ป๐—ด ๐—ซ๐—ฐ๐—ฒ๐—น๐—ฒ๐—ฟ๐—ฎ๐˜๐—ผ๐—ฟ ๐—ฆ๐—ฐ๐—ต๐—ผ๐—ผ๐—น - ๐— ๐—ฎ๐˜€๐˜๐—ฒ๐—ฟ ๐—ง๐—ฟ๐—ฎ๐—ฑ๐—ถ๐—ป๐—ด ๐—ถ๐—ป ๐Ÿญ๐Ÿฌ ๐——๐—ฎ๐˜†๐˜€! ๐Ÿ‘‰ Trading Xcelerator | Crypto Schoolย  ๐Ÿš€ ๐—–๐—ต๐—ฎ๐—ฟ๐˜ ๐—›๐—ฎ๐—ฐ๐—ธ๐—ฒ๐—ฟ๐˜€ - ๐——๐˜†๐—น๐—ฎ๐—ปโ€™๐˜€ ๐—˜๐˜…๐—ฐ๐—น๐˜‚๐˜€๐—ถ๐˜ƒ๐—ฒ ๐——๐—ถ๐˜€๐—ฐ๐—ผ๐—ฟ๐—ฑ ๐—ง๐—ฟ๐—ฎ๐—ฑ๐—ถ๐—ป๐—ด ๐—š๐—ฟ๐—ผ๐˜‚๐—ฝ! ๐Ÿ‘‰ Join Chart Hackers ___________________________________________ ๐—–๐—›๐—˜๐—–๐—ž ๐—ข๐—จ๐—ง ๐——๐—ฌ๐—Ÿ๐—”๐—กโ€™๐—ฆ ๐—ฃ๐—”๐—ฅ๐—ง๐—ก๐—˜๐—ฅ ๐—˜๐—ซ๐—–๐—›๐—”๐—ก๐—š๐—˜๐—ฆ โฌ‡๏ธ ๐Ÿš€ ๐—–๐—ข๐—œ๐—ก๐—˜๐—ซ - ๐—ง๐—ฟ๐—ฎ๐—ฑ๐—ฒ, ๐—˜๐—ฎ๐—ฟ๐—ป & ๐—ฆ๐˜‚๐—ฝ๐—ฒ๐—ฟ๐—ฐ๐—ต๐—ฎ๐—ฟ๐—ด๐—ฒ ๐—ฌ๐—ผ๐˜‚๐—ฟ ๐—š๐—ฎ๐—ถ๐—ป๐˜€ ๐˜„๐—ถ๐˜๐—ต ๐—˜๐˜…๐—ฐ๐—น๐˜‚๐˜€๐—ถ๐˜ƒ๐—ฒ ๐—•๐—ผ๐—ป๐˜‚๐˜€๐—ฒ๐˜€! ๐Ÿ‘‰ CoinEx Sign Up ๐Ÿ’ฐ ๐—•๐—ง๐—–๐—– - ๐—จ๐—ฝ ๐˜๐—ผ $๐Ÿญ๐Ÿฌ ๐Ÿฌ๐Ÿฌ๐Ÿฌ ๐—ถ๐—ป ๐—•๐—ผ๐—ป๐˜‚๐˜€! ๐—ก๐—ผ ๐—ž๐—ฌ๐—–! ๐Ÿ‘‰ BTCC Welcome Bonus ๐Ÿณ ๐—ช๐—˜๐—˜๐—ซ - ๐—ช๐—ฒ๐—น๐—ฐ๐—ผ๐—บ๐—ฒ ๐—•๐—ผ๐—ป๐˜‚๐˜€ ๐—จ๐—ฝ ๐—ง๐—ผ $๐Ÿฏ๐Ÿฌ ๐Ÿฌ๐Ÿฌ๐Ÿฌ ๐—จ๐—ฆ๐——๐—ง! ๐Ÿ‘‰ WEEX Sign Up Bonusย  โ˜„๏ธ ๐—•๐—Ÿ๐—ข๐—™๐—œ๐—ก - ๐—š๐—ฒ๐˜ ๐˜‚๐—ฝ ๐˜๐—ผ $๐Ÿฐ,๐Ÿฌ๐Ÿฌ๐Ÿฌ ๐—ถ๐—ป ๐—•๐—ผ๐—ป๐˜‚๐˜€๐—ฒ๐˜€, ๐—ก๐—ผ ๐—ž๐—ฌ๐—– ๐—ผ๐—ฟ ๐—ฉ๐—ฃ๐—ก ๐—ฟ๐—ฒ๐—พ๐˜‚๐—ถ๐—ฟ๐—ฒ๐—ฑ! ๐Ÿ‘‰ Blofin Welcome Bonus ๐Ÿ’ต ๐—•๐—ฌ๐—•๐—œ๐—ง - ๐—ฆ๐—ฐ๐—ผ๐—ผ๐—ฝ ๐˜‚๐—ฝ ๐˜๐—ผ $๐Ÿฏ๐Ÿฌ๐—ž ๐—ถ๐—ป ๐—ช๐—ฒ๐—น๐—ฐ๐—ผ๐—บ๐—ฒ ๐—ฅ๐—ฒ๐˜„๐—ฎ๐—ฟ๐—ฑ๐˜€! ๐Ÿ‘‰ BYBIT Welcome Bonus ๐Ÿ”ฅ ๐—•๐—œ๐—ง๐—™๐—จ๐—ก๐——๐—˜๐—— - ๐—ง๐—ฟ๐—ฎ๐—ฑ๐—ฒ ๐—ช๐—ถ๐˜๐—ต ๐—ข๐˜๐—ต๐—ฒ๐—ฟ ๐—ฃ๐—ฒ๐—ผ๐—ฝ๐—น๐—ฒโ€™๐˜€ ๐— ๐—ผ๐—ป๐—ฒ๐˜†! ๐Ÿ‘‰ Bitfunded Register ___________________________________________ ๐Ÿ—ž๏ธ ๐—–๐—ฅ๐—ฌ๐—ฃ๐—ง๐—ข ๐—ก๐—˜๐—ช๐—ฆ๐—Ÿ๐—˜๐—ง๐—ง๐—˜๐—ฅ๐—ฆ - ๐—ฆ๐—ถ๐—ด๐—ป ๐—จ๐—ฝ ๐—ณ๐—ผ๐—ฟ ๐—™๐—ฅ๐—˜๐—˜!! ๐Ÿ“ฌ ๐—ง๐—ต๐—ฒ ๐——๐—ฎ๐—ถ๐—น๐˜† ๐—–๐—ฎ๐—ป๐—ฑ๐—น๐—ฒ - https://bit.ly/DC-Dylan ๐Ÿ“ฌ ๐—š๐—ผ๐—ผ๐—ฑ ๐— ๐—ผ๐—ฟ๐—ป๐—ถ๐—ป๐—ด ๐—–๐—ฟ๐˜†๐—ฝ๐˜๐—ผ - https://bit.ly/GMC-Dylan ๐Ÿ“ฃ ๐—›๐—ผ๐˜€๐˜ ๐—–๐—ต๐—ฎ๐—ป๐—ป๐—ฒ๐—น๐˜€: ๐Ÿ‘‰ ๐——๐˜†๐—น๐—ฎ๐—ป ๐—ผ๐—ป ๐—ซ: https://x.com/thelordofentryย  ___________________________________________ ๐Ÿ‘๏ธโ€๐Ÿ—จ๏ธ ๐—–๐—ฟ๐˜†๐—ฝ๐˜๐—ผ ๐—•๐—ฎ๐—ป๐˜๐—ฒ๐—ฟ ๐—ฎ๐—ฏ๐—ถ๐—ฑ๐—ฒ๐˜€ ๐—ฏ๐˜† ๐˜๐—ต๐—ฒ ๐—ณ๐—ผ๐—น๐—น๐—ผ๐˜„๐—ถ๐—ป๐—ด ๐—ฐ๐—ผ๐—ฑ๐—ฒ ๐—ผ๐—ณ ๐—ฐ๐—ผ๐—ป๐—ฑ๐˜‚๐—ฐ๐˜:ย  Our Ethics โ€“ Crypto Banter We take our code of ethics very seriously and have engaged @zachxbt (ZachXBT) to monitor our progress. If you feel weโ€™re not living up to it and have hard evidence please mail ZachXBT directly at reportcb@protonmail.com โš ๏ธ ๐—•๐—˜๐—ช๐—”๐—ฅ๐—˜ ๐—ข๐—™ ๐—ฆ๐—–๐—”๐— ๐— ๐—˜๐—ฅ๐—ฆ ๐—œ๐—ก ๐—ข๐—จ๐—ฅ ๐—–๐—ข๐— ๐— ๐—˜๐—ก๐—ง๐—ฆ ๐—”๐—ก๐—— ๐—–๐—ข๐— ๐— ๐—จ๐—ก๐—œ๐—ง๐—ฌ ๐—–๐—›๐—”๐—ก๐—ก๐—˜๐—Ÿ๐—ฆ ___________________________________________ ๐Ÿ“ ๐——๐—ถ๐˜€๐—ฐ๐—น๐—ฎ๐—ถ๐—บ๐—ฒ๐—ฟ: Crypto Banter is a social podcast for entertainment purposes only! All opinions expressed by the hosts, guests, and callers should not be construed as financial advice. The views expressed by the hosts and guests do not reflect the views of the station. Listeners are encouraged to conduct their own research.
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