Gem Hunters Live discusses various topics in the cryptocurrency market, starting with an overall market analysis by Army Piper. He analyses Bitcoin using a Fibonacci channel, comparing the peaks and bottoms to determine trends. He notes that while the market currently appears slow, the Bitcoin 200 week moving average is a key area of interest. Breaking the 786-level could lead to Bitcoin dropping to the eight thousand dollar region, but Piper thinks this is unlikely unless a black swan event were to occur. The discussion ends with an optimistic projection that sees price action coming through the golden pocket and the 786 level up to the next Bitcoin having projection.
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Gem Hunters Live Meeting: Overall Market, Arbitrum, and Gems
Foreign and welcome back to another Gem Hunters Live Meeting! We apologize for not having all the gem hunters on for a very long time, but we have pretty much all the gems on today, guys. So today, we’re going to be talking about a diverse array of topics. Not much is really going on in the market right now, and we understand that, so we can’t talk about crazy news. But we are going to talk about the overall market, Arbitrum, and gems, from microcap to midcap.
Overall Market
As always, we’re going to talk about the overall market today. We’ll start with Army Piper, who will give us the TA today. When we talk about the overall markets, obviously, the first thing we got to talk about is Bitcoin. Bitcoin is the center of gravity, the magnetic pool that moves our markets up and down. If Bitcoin dumps, everything can go down with it, with a few exceptions, but overall, that’s the trend.
Arbitrum
Moving on, we will talk about Arbitrum as we know a lot of people have many questions regarding it. We’re going to get them answered today, guys.
Gems: Microcap, Low Cap, and Mid Cap
Since we are Gem Hunters, we will move on to gems: microcap, low cap, and midcap. Welcome everyone, welcome SSM Grind and Army Piper.
Army Piper’s TA for Bitcoin
Let’s start with Army Piper’s TA for Bitcoin. One of the things that he’s looked at is a Fibonacci channel, and he does a lot of Fib trading. It works really well for him. When you look at Bitcoin and place it with the peaks of the bull run cycles, you can see the bull run bottoms and what actually happens here and how it plays on this golden pocket here of the Fibonacci channels that always catch the bottom each cycle.
Once we broke that line, we can see that we had an attempt there, a perfect retest, and down we go; and that’s the 786 down here. Army Piper has an alert set on this, and he is waiting for us to touch it. If we break the 786, we can assume that we’re going down to the one-to-one line, which is going to be the $8,000 region.
Outlook
According to him, during this cycle, we’re actually going to see price action coming through between the golden pocket and the 786 all the way up into this having event. The next bitcoin having projection is the dash yellow line, and two things need to occur. One, yes, we are above the 200-week moving average, which makes him very happy to see. His bearish perspective on this is that we are trapped underneath our dynamic reactor, and we’ve got to get a candle close above this in order for him to change his sentiment.
Conclusion
In conclusion, the market is slow right now, but there’s still hope. The TA for Bitcoin is not very optimistic, but there’s a possibility that it might go up in the future. As always, we hope to provide you with the latest news and insights on the crypto world. Stay tuned for more updates.
