Don’t Let This Bitcoin TRAP Fool You! [HUGE Bounce Loading..]
Don’t Let This Bitcoin TRAP Fool You! [HUGE Bounce Loading..]
257 days agoCrypto Banter
Podcast39 min 29 sec
Listen to Episode
Note: AI-generated summary based on third-party content. Not financial advice. Read more.
Quick Insights

The current market-wide dip is viewed as a significant buying opportunity, with a strong Bitcoin bounce expected to finish the week near $120,000. Ethereum (ETH) is a high-conviction buy on any weakness, targeting a new all-time high and a potential move to $5,800. Similarly, Solana (SOL) is positioned for a short squeeze and could reach the $220 - $240 range by the end of the week. Investors are also watching Dogecoin (DOGE) closely, as this dip may be the final chance to buy before a potential breakout towards 40 cents. The broader market is on the verge of a true alt season, where altcoins are expected to dramatically outperform Bitcoin.

Detailed Analysis

Bitcoin (BTC)

  • The speaker identifies a short-term bearish trap. The weekly candle closed red, suggesting the start of the new week will also be red.
  • Despite the short-term bearishness, the speaker believes a "pin bar reversal candle" is coming this week, indicating a strong bounce is imminent.
  • The current pullback is described as "preparation for Bitcoin's next push" towards higher targets of $140,000 - $150,000.
  • Liquidity maps show significant support in the $108,000 to $112,000 range. The price may dip to the low $110,000s to capture this liquidity before reversing.
  • The market is currently filled with short positions, which suggests a "short squeeze" is likely. This means a sharp, aggressive move to the upside is expected once the bottom is in.
  • Upside liquidation targets (areas where short-sellers would be forced to buy back) are at $114,000 - $115,000 and $117,000.
  • The speaker's expectation is for Bitcoin to finish the week near or above $120,000.

Takeaways

  • Sentiment: Short-term bearish, but overall very bullish. The current dip is viewed as a buying opportunity and a "trap" for sellers.
  • Actionable Insight: Investors should view the current weakness as a chance to accumulate Bitcoin. The dip is expected to be short-lived (a few hours to a day or two) and followed by a strong, V-shaped recovery.
  • Timeline: The bounce is expected to happen within the week, with the first 1-3 days being potentially red, followed by a strong green finish to the week.

Altcoins (General Market)

  • Altcoins are showing significantly more strength than Bitcoin. The total altcoin market cap chart (Total3) closed its weekly candle green, while Bitcoin's was red.
  • The speaker believes the market is on the verge of a "true alt season," where altcoins dramatically outperform Bitcoin.
  • The initial market dip, led by Bitcoin, is expected to pull some altcoins down. However, on the subsequent bounce, altcoins are expected to "bounce way harder" than Bitcoin.
  • A sequence for the alt season is predicted:
    • 1. Large Caps: Coins like Ethereum (ETH) and Solana (SOL) will move first.
    • 2. Mid Caps: The next tier of altcoins will follow.
    • 3. Low Caps: Money will then diversify into smaller projects, including meme coins.

Takeaways

  • Sentiment: Extremely bullish. The speaker has strong "conviction" in an upcoming alt season.
  • Actionable Insight: The current dip across the altcoin market is a prime buying opportunity. Investors should be patient, as the money is expected to flow from large caps down to smaller caps over the next few weeks. The speaker advises to "place your bets, be patient."

Bitcoin Dominance (BTC.D)

  • Bitcoin Dominance, which measures Bitcoin's market share relative to the total crypto market, has lost a major weekly trendline.
  • This breakdown is seen as a confirmation that a major "alt season" is approaching.
  • The speaker expects a small push up (a retest of the broken trend) before a significant move down to the low 50 percent range.

Takeaways

  • Sentiment: Bearish on Bitcoin Dominance.
  • Actionable Insight: A falling Bitcoin Dominance is a strong bullish signal for altcoins. It indicates that capital is flowing out of Bitcoin and into other cryptocurrencies, which typically leads to significant gains for the altcoin market.

Ethereum (ETH)

  • Ethereum is showing immense strength, having recently broken its all-time high.
  • The weekly candle showed a "huge buy-up in volume," indicating strong demand.
  • The current dip is seen as a buying opportunity before ETH pushes for new all-time highs again.
  • Liquidity data suggests a potential dip to the $4,400 area could be a bottom for the current pullback.
  • Upside liquidation targets are at $4,700 and the previous all-time high.
  • A price target of $5,800 is mentioned as the next major level, which could be hit within the next week or two.

Takeaways

  • Sentiment: Very Bullish.
  • Actionable Insight: The current dip is a buying opportunity. Ethereum is expected to lead the altcoin market rally and break its all-time high again this week.

Solana (SOL)

  • Solana has broken a key range high and its weekly candle looks very strong.
  • The speaker notes that a major resistance "wall" has been removed, which should make the next move up easier.
  • A "short squeeze" is anticipated, which could push the price towards $220 - $240 by the end of the week.
  • Two key support zones for accumulation are mentioned:
    • The current price zone.
    • The low $190s if Bitcoin pulls the market down further.
  • Liquidation data shows a key upside target at $202 - $203.

Takeaways

  • Sentiment: Very Bullish.
  • Actionable Insight: The current dip is a strong buying opportunity. Solana is positioned as one of the leaders for the next leg up in the altcoin market, with significant short-term upside potential.

Cardano (ADA)

  • The weekly candle for Cardano was somewhat bearish ("half-filled"), suggesting it will likely retest last week's lows to find buyers.
  • Despite the short-term weakness, the speaker is not concerned and sees this as a "buyer for Cardano."
  • Cardano is currently in a large consolidation pattern (a "flag"). A breakout from this pattern is expected to be very strong.
  • Price targets after a breakout are $1.30, $1.40, and up to $2.00.
  • An automated trading bot for accumulating Cardano is mentioned as still being available.

Takeaways

  • Sentiment: Short-term neutral, long-term bullish.
  • Actionable Insight: The current price action is a consolidation phase before a major move. This dip represents a buying opportunity for patient investors looking for a breakout.

Dogecoin (DOGE)

  • The speaker is "really, really, really excited for" Dogecoin's next move.
  • Like Cardano, its weekly candle was red, so a dip to capture liquidity is expected before a major push.
  • The speaker believes it is "very likely" that Dogecoin will break out of its current range this week.
  • A price target of 40 cents is mentioned as a possibility for next week.
  • The speaker advises that entries above 24 cents are not ideal, suggesting the current dip is the time to get in. An automated trading bot for Dogecoin is also available.

Takeaways

  • Sentiment: Very Bullish.
  • Actionable Insight: The current dip is presented as a final opportunity to buy Dogecoin before a significant potential breakout.

Other Altcoins

  • Chainlink (LINK): Mentioned as a "very strong token." The speaker's automated trading bot for LINK is up 15%, but is no longer available, implying the best entry may have passed.
  • Sui (SUI): Currently in a "bull flag" pattern and approaching a support zone. The speaker identifies a "big buy zone" between $3.20 and $3.40, with a target of $3.60.
  • Ondo (ONDO): The speaker believes ONDO might not break out this week but will likely do so next week as part of the broader altcoin market rally.
  • Render (RNDR): Mentioned briefly as coming down to an area with "tons of horizontal support," implying it's a good area to consider buying.
Ask about this postAnswers are grounded in this post's content.
Episode Description
In today’s episode, Sheldon breaks down the latest Bitcoin manipulation trap that’s catching traders off guard and reveals why Altcoins are showing massive potential regardless. He explains the key levels to watch, how to avoid the pitfalls, and where the real opportunities may be forming! ___________________________________________ 🎯 𝗦𝗡𝗜𝗣𝗘𝗥 𝗖𝗟𝗨𝗕 - 𝗧𝗿𝗮𝗱𝗲 𝗦𝗺𝗮𝗿𝘁𝗲𝗿 𝘄𝗶𝘁𝗵 𝗦𝗵𝗲𝗹𝗱𝗼𝗻 & 𝗧𝗼𝗽 𝗧𝗿𝗮𝗱𝗲𝗿𝘀!👉 Join Sniper Club 🎯 𝗦𝗡𝗜𝗣𝗘𝗥 𝗦𝗖𝗛𝗢𝗢𝗟 - 𝗨𝗻𝗹𝗼𝗰𝗸 𝘁𝗵𝗲 𝗦𝗲𝗰𝗿𝗲𝘁𝘀 𝘁𝗼 𝟯𝗫 𝗬𝗼𝘂𝗿 𝗖𝗿𝘆𝗽𝘁𝗼 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗡𝗢𝗪! 𝗙𝗼𝗿 𝗙𝗥𝗘𝗘! 👉  Sign Up for Crypto School 🏆 𝗦𝗡𝗜𝗣𝗘𝗥 𝗚𝗜𝗩𝗘𝗔𝗪𝗔𝗬𝗦!! 👉 𝗘𝗠𝗔𝗜𝗟: sniper.giveaways@cryptobanter.com  ___________________________________________ 𝗖𝗛𝗘𝗖𝗞 𝗢𝗨𝗧 𝗦𝗛𝗘𝗟𝗗𝗢𝗡’𝗦 𝗣𝗔𝗥𝗧𝗡𝗘𝗥 𝗘𝗫𝗖𝗛𝗔𝗡𝗚𝗘𝗦 ⬇️ 💰 𝗕𝗧𝗖𝗖 - 𝗨𝗽 𝘁𝗼 $𝟭𝟬 𝟬𝟬𝟬 𝗶𝗻 𝗕𝗼𝗻𝘂𝘀! 𝗡𝗼 𝗞𝗬𝗖! 👉 BTCC Welcome Bonus 🐋 𝗪𝗘𝗘𝗫 - 𝗨𝗽 𝘁𝗼 𝟯𝟬,𝟬𝟬𝟬 𝗨𝗦𝗗𝗧 𝗶𝗻 𝗥𝗲𝘄𝗮𝗿𝗱𝘀! 👉 WEEX Welcome Bonus 🏆 𝗕𝗬𝗕𝗜𝗧 - 𝗚𝗲𝘁 𝗕𝗼𝗻𝘂𝘀𝗲𝘀 𝘂𝗽 𝘁𝗼 $𝟯𝟬,𝟬𝟬𝟬! 👉 BYBIT Welcome Bonus ☄️ 𝗕𝗟𝗢𝗙𝗜𝗡 - 𝗚𝗲𝘁 𝘂𝗽 𝘁𝗼 $𝟰,𝟬𝟬𝟬 𝗶𝗻 𝗕𝗼𝗻𝘂𝘀𝗲𝘀, 𝗡𝗼 𝗞𝗬𝗖 𝗼𝗿 𝗩𝗣𝗡 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗱! 👉 Blofin Welcome Bonus 💵 𝗕𝗜𝗧𝗙𝗨𝗡𝗗𝗘𝗗 - 𝗛𝗮𝘃𝗲𝗻'𝘁 𝗴𝗼𝘁 𝗮 𝗹𝗼𝘁 𝗼𝗳 $$ 𝘁𝗼 𝗧𝗿𝗮𝗱𝗲 𝘄𝗶𝘁𝗵? 👉 Register to unlock access to Trading Funds ___________________________________________ 🗞️ 𝗖𝗥𝗬𝗣𝗧𝗢 𝗡𝗘𝗪𝗦𝗟𝗘𝗧𝗧𝗘𝗥𝗦 - 𝗦𝗶𝗴𝗻 𝗨𝗽 𝗳𝗼𝗿 𝗙𝗥𝗘𝗘!! 📬 𝗧𝗵𝗲 𝗗𝗮𝗶𝗹𝘆 𝗖𝗮𝗻𝗱𝗹𝗲 - https://bit.ly/DC-Sheldon 📬 𝗚𝗼𝗼𝗱 𝗠𝗼𝗿𝗻𝗶𝗻𝗴 𝗖𝗿𝘆𝗽𝘁𝗼 - https://bit.ly/GMC-Sheldon 📣 𝗛𝗼𝘀𝘁 𝗖𝗵𝗮𝗻𝗻𝗲𝗹𝘀: 👉 𝗦𝗵𝗲𝗹𝗱𝗼𝗻 𝗼𝗻 𝗫: @Sheldon_Sniper / X  👉 𝗦𝗵𝗲𝗹𝗱𝗼𝗻 𝗼𝗻 𝗜𝗻𝘀𝘁𝗮𝗴𝗿𝗮𝗺: @sheldino_the_sniper / Instagram  ___________________________________________ 👁️‍🗨️ 𝗖𝗿𝘆𝗽𝘁𝗼 𝗕𝗮𝗻𝘁𝗲𝗿 𝗮𝗯𝗶𝗱𝗲𝘀 𝗯𝘆 𝘁𝗵𝗲 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗰𝗼𝗱𝗲 𝗼𝗳 𝗰𝗼𝗻𝗱𝘂𝗰𝘁:  Our Ethics – Crypto Banter  We take our code of ethics very seriously and have engaged @zachxbt (ZachXBT) to monitor our progress. If you feel we’re not living up to it and have hard evidence please mail ZachXBT directly at reportcb@protonmail.com  ⚠️ 𝗕𝗘𝗪𝗔𝗥𝗘 𝗢𝗙 𝗦𝗖𝗔𝗠𝗠𝗘𝗥𝗦 𝗜𝗡 𝗢𝗨𝗥 𝗖𝗢𝗠𝗠𝗘𝗡𝗧𝗦 𝗔𝗡𝗗 𝗖𝗢𝗠𝗠𝗨𝗡𝗜𝗧𝗬 𝗖𝗛𝗔𝗡𝗡𝗘𝗟𝗦 ___________________________________________ 📝 𝗗𝗶𝘀𝗰𝗹𝗮𝗶𝗺𝗲𝗿: 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.
About Crypto Banter
Crypto Banter

Crypto Banter

Crypto Banter is a Podcast that brings you the hottest crypto news, market updates and fundamentals of the world of digital assets – “straight out of the bull’s mouth”!! Join the most profitable crypto community to get notified on the most profitable trades and latest market news!