The market could see further downside if the dollar breaks higher and stocks, gold, or Bitcoin lose support: stocks could fall up to 10%, Bitcoin could reach the low $70,000s, and altcoins could decline another 5-10%. Holding support and rejecting dollar resistance could produce a bounce and a later breakout.
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00:00 Yo, Fam. Guys, bringing you an update on the markets. We ended up getting the hike. So, gold is not reacting the greatest right now. Stock market is not reacting too great. Crypto not too bad. And the crazy thing, if you actually look at this over here, and I spoke about it a little bit earlier in the day today, is the Bitcoin dominance is actually dropping, right?
00:16 So, as it stands right now, very much a little bit more of a Bitcoin catch-up right now than the rest of the altcoin markets. The question is, is it basically over or are we about to see a continuation to the downside? Stock markets are at support right now, gold is at support right now. And the dollar ripped through resistance at the next major resistance.
00:36 So, there is a lot to speak around, a lot of updates. I want to speak around altcoins as well and the opportunities of where I am seeing either here or possibly lower down. Do me a favor, smash the like button. Let's go. And this is what I get. I try and fight the devils, but inside I am just like Yes, Fam. Okay, we did not expect many hikes this year, but they are here, which is crazy.
01:04 So, yes, we did hit the hikes. Let's jump in over here. The forecast was 4%. We got 4%. Market not reacting too great. So, let's fly through all the important charts you need to understand now. And again, you know, when it comes specifically with crypto, we broke big structures a couple of weeks back, right? So, we are just looking for strong support zones.
01:28 The question is, are we going to go down to the low 70,000s, right? The interesting thing is seeing that Bitcoin dominance drop, right? Meaning that very much, hey, we could see a little bit of exaggeration in Bitcoin, but altcoins might actually hold pretty good. Now, the first couple of charts I want to jump in on here is I want to go through the dollar.
01:44 The dollar is quite important. Massive rally to the upside. Right now, if we kind of look at it, we have to see where the dollar has been, you know, throughout the year. Okay? And you can see that a while ago, which was in the areas of July, right? We did actually see the dollar lose a very big trend, right? And as you could see right now, we are actually sitting at the other side of the trend.
02:05 Now, not only that, you have these previous lows over here. It is quite clear we do have a lower low in play, right? Which does mean technically if we see a lower high here, we could actually see from anywhere these zones actually a new low come in the next couple of weeks. Now that sounds crazy knowing that we have just got news of a hike, right?
02:25 But we need to understand that the charts, right, are giving us this indication and if it plays out can be giving us a clue within the markets. So, this is what I am seeing right now. This is where I want to see the dollar reject, which means markets we want to see bounces pretty soon, right? If we see a bounce in these major zones, we still actually have a bullish scenario to say, hey, this pullback is not actually so bad, okay?
02:46 And we could actually see upside pretty quickly from these zones. So, if we look at this here, big resistance. Anything on top of here is very bad, right? Then we are obviously looking at a bigger push to the downside up to 10% when it comes to stock markets, right? I will speak about that in a sec. But as it stands right now, if we hold these levels now, right?
03:09 There is maybe a few percent kind of range. We could actually see some downside to the down move and rejection to the downside. What I am doing is I am tracking this up. It does tell me there is a little bit of time. So, it is very likely the market is going to kind of chop around a little bit and be quite difficult over the next couple of days.
03:25 So, I did highlight earlier this morning that trading the market right now, I am rather looking for a little bit more investment opportunities. I was long on gold. Got stopped, got hit a little bit on gold. But I am looking for new opportunities over there. So, when it comes to trading right now, kind of just sitting on my hands. I am however investing crazy amounts into altcoins right now and I have set the ranges and I will speak about them now.
03:48 So, there is the dollar. Then we jump into the S&P, right? This is the chart that is looking quite bearish right now. Okay. So, there is the drop that we are seeing. Now, I do want to speak around the current trend we had previously. Okay, the initial momentum trend. And as you can see here that that is sitting in these areas of down here to 7,400, right?
04:08 We are sitting at 7,500 now. Now, if we look at where we are right now, we are on an important Fibonacci zone. These are two big flips, right? It is this one over here. Okay. And then we have this big flip over here. Now, why this is important is because yes, we are seeing downside, but the alarm bells is us losing this trend. Right? Us losing this trend.
04:26 Then I am looking up to a 6-7% drop to the downside. Right now they actually stand as support zones. So now seeing that the dollar is at resistance and we are coming to support, right? There are two zones here that I am looking for as bounces. If we do not hold this, then we are looking for a little bit more down, but anywhere in these zones here is actually still a bullish scenario.
04:46 Right? So, what we want to see either from this zone or over here, two-term bullish, is I want to see a bounce over the next couple of days. But it is very likely the market is not going to see crazy rallies for at least the next two weeks. Right? But I want to see a bounce. I want to see a higher low and I want to see a breakout. Either from this zone or I want to see it from this zone over here.
05:10 Right? Same thing when it comes to gold as well. For me to be bullish, gold is actually on the 618. So, if you take this entire wave over here, we are in a big Fibonacci zone. We lose the zone, there is another 2 to 3% to the downside to the next major supports. Okay. But again, in order for me to be bullish here, right, I actually see a possibility of tomorrow starting off a little bit red and actually turning green.
05:30 But over the next few days, we do want to see a bounce up in gold to this area over here, cool down, and then start making its way to the upside over here. Right? There is still a lot of liquidity sitting on the upside here. Okay? And this is the bull. Anything bearish, right, is us losing these levels that we have just made these lows. Then we are looking at something like that and then momentum to the upside, right?
05:52 When it comes to the futures, just to show you guys as well, futures, we do have this support sitting in play over here. It does not look the strongest, right? So, I am actually seeing on futures that hey, more downside over here, right? So, it is quite interesting. So, what does that mean now for crypto? This is the important part over here to pay attention to.
06:12 Okay. I was actually having a look. Here we go. Okay. So, here is the Bitcoin chart. There are two important zones you have to pay attention to right now. Right? Bears are holding 76 to 77,000. That is where bears are in control. Right? Bulls next bullish zone is sitting here anywhere between 72 and 74,000. Right? That is where the bull's next big line of supports are sitting.
06:39 Okay. When it comes to the trend line, the trend line is indicating, hey, the market is going to be quite choppy for anywhere up to the next 12 to 13 days, right? So, what it kind of means when I see a trend like this and I see space, okay, I basically look at, hey, kind of think of worst scenario, think of bad scenarios, think about things going down and set limit orders down there, focus on high time frame buys right now as the market is giving high time frame opportunities, okay?
07:01 And trading, kind of take it a little bit easy, right? At this point, focus a little bit more on the high time frame. So again, as it stands bearish, we move down here and we start to see something like this over the next week or two, right? Bullish, from here, we actually get into the zone and we actually start breaking out next week. Right? So, I want to see a push up.
07:25 I want to see us at least get to 78. Anything above 79,000 is bullish, right? That means, hey, we are breaking. We are moving now. But this is what I want to see on a bullish scenario here. It is a bit of a cool down here, push to the upside, higher low, and then a breakthrough. But for as long as that happens, I have to think bearish, and I have to think that kind of play, right?
07:43 Right. So, I am still looking at 72 to 74,000 when it comes to Bitcoin. Then I want to show you guys over here Bitcoin dominance. Very interesting to see the nice little drop off come over here. So, it looks like if there is more downside, we are actually going to see dominance come to the downside. When Bitcoin is ready for a bounce, then some strength come into play.
07:58 Anytime we do see some strength, very likely we are going to see upside if we see a bounce from these major areas over here. So, that is a good sign when it comes to altcoins, right? If you look at altcoins, not too bad, right? ETH is still sitting in the accumulation zones. Now again, I spoke about two big zones. I spoke about 2,400 where we are now and I spoke around 2,200.
08:18 This is my accumulation zones for ETH, right? If I am deploying 10K, I am deploying 30K here, okay? Or 3K and I am looking to range and set limit orders all the way down to these major areas. Okay, we could hold these levels. They are weekly zones, big weekly supports that we are seeing over here, right? So, I am personally buying these dips right now and I am loading up on Ethereum.
08:44 I am loading up on Solana, right? I am loading up on XRP, right? XRP is in a very big zone right now. I am loading up on AVAX, right? I am loading up on Cardano. I am loading up on SUI, right? There are a lot of altcoin trades that I am loading up right now on these dips because of the strength of the Bitcoin dominance or the weakness of the Bitcoin dominance.
09:03 As well as the total three being in the big zones at the bottom of the range. Altcoins are actually holding incredibly good. Okay, bad scenarios again is up to another 5-10% down and that is why I will set some limit orders. If I get something in here and we move to the top and we break out, I can add the rest coming to play over here on that confirmation.
09:24 For now, think bear. But at the same time, huge opportunities. Now, I want to zoom out here and just remind you again what the plays for me for the rest of the year is after this, I am looking for one more push up to the end of the year, right? A lot bigger of altcoin leg than what we have seen previously. So, that is what I am paying attention to these high time frame views over here.
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10:09 Okay, now let us jump in here. I am going to chart here on WEEX a little bit. And there are a couple of coins I wanted to speak around. So, let us go here and look at ones that are showing some strength. I want to speak around Zcash. So, let us jump on Zcash over here. Okay, Zcash. Okay, Zcash breaking out again. So guys, one important thing I want to show you guys in Zcash.
10:42 So the good thing here is a big break of trend. So Zcash is absolutely ripping, right? It has been really good. Let me know in the comments if you guys have gotten a Zcash position. I do not have much to be honest. I got some but not much. Wish I had a lot more. It is crazy. We are fishing around here the last time I traded on the crazy. Okay guys, the important trend is popping this one.
11:04 Now that we have seen a bounce on this recently, that is confirming this trend line. So this is a trend line. If you want a non-prediction strategy, right, on hey, this thing can keep going and going and going, right? It is always going to keep the momentum up. And that is why popping in the trend and specifically these recent bounces has confirmed this is a good trend line, right?
11:24 This can become a strategy of, hey, hold until we break, right? Or move stops up or anything like that. I am not buying too much right now, but I do want to highlight to you guys this important trend line that we are seeing over here. Then another one I want to speak around is Dash, right? Dash is starting to wake up. You see Dash is over here on WEEX.
11:39 There we go. Okay. So, what I like about Dash, I was looking at it earlier. Let us jump here to the weekly. Okay. Is exactly this. So, the first thing on the weekly time frame is us breaking out of the trends, right? And now retesting these previous highs over here, right? Which were lower highs, now higher highs and into major support. Right? So, this is one token that I am starting to load up on.
12:11 Had a crazy run in this period over here. And now we are looking from these areas here to start pushing up to the mid-range up to $1 to $120. Right? So, this is one that I am paying attention. Actually showing some strength today. NEAR protocol, guys. NEAR is looking strong again, fundamentally makes so much sense to do incredibly well in this next cycle, right?
12:30 So, let us jump in here to NEAR, right? NEAR now actually starting to break the big weekly time frame trends. So, my area here is I am looking to accumulate between 2.2 to 2.6, okay, for a push up to the mid-range of up to 4.3 to the $5 mark. Okay guys, lots of love. I will see you guys all tomorrow. Let us see if there is anything crazy on the liquidations.
12:58 Let us see. Let us see. Starting to wipe out short time frame liquidations. Let us see if there is anything higher up. I need to log in. Log in with Google. Log in with Google. And then a question for you in the comments, guys. What is your biggest altcoin bag? Let me know. I want to see what is your biggest altcoin bag right now. What are you accumulating?
13:22 Okay, let us jump back in. Okay, heat mapped. Okay, I just want to see a little bit. I want to pay attention to the high time frame here and see where liquidity is sitting right now. Okay, this is good. We are wiping so much liquidity. That means very likely we are going to see a couple of days of chop and then we will start to see the next real move. Guys, I will see you tomorrow. Thank you for watching. Lots of love. Bye-bye.