Andrew Gilbert: Is this the End for Bitcoin?
Tom welcomes Andrew Gilbert to the show. Andrew is the Founder & Lead Technical Analyst of Sniper Trading. He explains how their trading community works, their teaching methods, and the commodities including crypto they focus on.
He explains the accumulation and distribution periods involved with Wyckoff Patterns and how they apply to the gold market. He believes there will be another big downside leg for gold before the next rally. The Fed’s upcoming actions will cause a negative move in equities and will cause gold to sell off. An alternate scenario is a move sideways for gold and then up before the equity markets correct down.
Andrew discusses how historically changes to the Fed funds rate can result in market weakness and often signal the start of a rally for gold. He sees a similar pattern for silver. We could see excellent entry points for these metals after the next drop.
The move-in S&P has been parabolic and that makes it somewhat difficult to chart and predict. Slower growth is likely to have an impact.
Due to the change in policy at the Fed that will have an impact on crypto markets and Bitcoin. We’re likely going to see a significant dip down toward the 20,000 level. The majority of crypto analysts are pushing hopium and want the party to never end. These markets are often quite volatile and will feel the impact of an overall market correction.
Time Stamp References:
0:00 – Intro
0:37 – Sniper Trading
2:44 – Gold & Equities Pullback
9:49 – Sideways Consolidation?
11:08 – Fed Funds & Gold
15:37 – Silver Outlook
18:14 – S&P Outlook & Levels
19:28 – The Dollar
21:38 – Bitcoin
25:37 – Wrap Up
Talking Points From This Episode
- His background and the Sniper Trading community.
- Outlook for gold and silver as the Fed plans to taper.
- Concerns around the S&P and equities and potential impact on crypto.
Andrew is the founder & lead technical analyst of Sniper Trading. Sniper Trading is an exclusive discord community that provides Ddaily trade setups for crypto, stocks, and metals. They also provide portfolios and education to improve your technical analysis skills.