Bitcoin CRASH Coming in 2 DAYS?! (Here’s Why)!! Bitcoin News Today & Ethereum Price Prediction!

Bitcoin CRASH Coming in 2 DAYS?! (Here’s Why)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Important Bitcoin Analysis! 0:00
Ethereum Technical Analysis! 10:47
Solana Technical Analysis! 14:16

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– Crypto World –

Welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin is running into critical support as the price is forming a new pattern in the short term that we need to pay attention to and on top of that in two days from now we could potentially see a

Massive move in the crypto Market especially the price of Bitcoin which I’ll talk about in just a moment as well as ethereum which is just hours away from potentially confirming this breakout which I’ll talk about later in the video so definitely watch to the end first of all just giving you a quick

Update here on the daily Bitcoin chart and right now the bearish Divergence is still playing out which means we’re due to see reduced bullish momentum which usually plays out in the form of choppy sideways price action or a pullback in the price of Bitcoin as two of the most

Common outcomes from a bearish Divergence and so essentially we’re seeing less bullish momentum and potentially more bearish momentum but this bearish Divergence by itself as always does not guarantee a bearish trend reversal of course if we see other signals like for example the Bitcoin price beginning to break below these

Lows forming new lower lows and then a lower high obviously that would help to confirm a new bearish trend but it’s just important to understand that these bearish divergences don’t always result in a bearish trend reversal the most common outcomes are usually just choppy sideways price action or potentially a

Bit more of a pullback in the price of Bitcoin and obviously we can see pullbacks and choppy sideways price action during a bullish Trend because basically since the beginning of October the Bitcoin price has been in a bullish Trend as the dxy has been in a bearish Trend and now obviously just recently

We’ve seen a bounce in the dxy which is technically bearish for Bitcoin at least in the short term and obviously we have seen a bit of a short-term dump in the price of Bitcoin But ultimately the dxy has not confirmed a bullish Trend reversal because we have not confirmed

Any significant higher highs or higher lows here in the dxy and so basically while the dxy is still forming lower highs and lower lows trending in the bearish direction once again I’m still bullish on the price of Bitcoin in terms of the trend until proven otherwise but remember even even though the trend

Might still be bullish of course we can see pauses and setbacks during a bullish Trend like for example slight pullbacks or consolidations during a bullish Trend which we are due to see due to this bearish Divergence but if we’re staying on the daily Bitcoin chart looking at this ascending parallel Channel even if

The price of Bitcoin dumps all the way back down towards around $40,000 and then if we see a bounce around 40K obviously we can still remain within this bullish Trend because we’re still remaining in this ascending parallel channel right here but if we start to see a break below this line

Right here below this ascending line of support then obviously at that point I’ll potentially start flipping more bearish again here on the trend on The Daily time frame which by the way is different from the weekly time frame so it’s just important to understand the different time frames here because for

Example if we’re taking a look at the 4H hour Bitcoin chart obviously we are very much bearish right now on the 4-Hour time frame because we’re looking at the shorter term movements here and over the last few days we’ve seen a break to the downside from this bearish Rising wedge

Pattern and we’ve already hit the exact first price Target which was sitting at around 42.6k but the complete price Target the full technical price target for this pattern is sitting at this area of support sitting in between around 405,000 to 41k but obviously at least for now we’re running into shortterm

Supports based on these previous lows back here and this area of support is sitting in between around 42.4k to around 42.7k but if we see a confirmed break below around 42.4k then in that case we’re likely going to see a drop back down towards at least around 41k as one

Of the most likely scenarios but as I said in my last video here on the channel if you’re looking at the 4-Hour Bitcoin RSI this recently entered into oversold territories which means just in the short term we have limited room to the downside and so like I said in my

Last video I expect as the most likely outcome either a slight bounce or some choppy sideways press action which can help to reset the RSI back to the upside out of those oversold territories which can give us us more room to the downside later on and at least as of right now

This is so far playing out exactly as expected we’re seeing that choppy sideways price action which is helping to reset the RSI and this could perhaps continue over the next 1 to 2 days and then perhaps in around 2 days from now we could possibly see another big move

At least in the short term for the price of Bitcoin and one of the main reasons as to why we could see a big move in two days from now and not tomorrow or today is mainly to do with the fact that the stock market in the US opens up again on

Tuesday and of course that means the spot Bitcoin ETFs begin trading again on Tuesday when the Stock Market opens and if you’ve been watching my recent videos here on the channel over the last few days you will know that one of the main reasons that caused this massive dump

Right here in the price of Bitcoin was the fact that grayscale was dumping hundreds of millions of dollars worth of bitcoin out of their ETF and I won’t be going into too much detail about this in this video here today because I did that in around two videos ago here on the

Channel but basically grayscales ETF has one of the highest fees out of all of the the spot Bitcoin ETFs and so essentially a lot of people are leaving grayscale to find some other ETFs perhaps and essentially if you’re leaving grayscale if you’re taking your money out of grayscale they’re basically

Forced to sell that Bitcoin that’s backing the ETF if you’re leaving grayscale because grayscale’s Bitcoin ETF is a cash create ETF which means they have to pay out in US Dollars not Bitcoin and so basically if you’re transferring from grayscale to for example the Black Rock ETF which has a

Cheaper fee than the grayscale ETF basically what happens is you have to essentially dump that Bitcoin in the grayscale ETF take the US Dollars bring that over to Black Rock and then re that Bitcoin under the Black Rock Bitcoin ETF and so because so far around 4,000

Bitcoin worth close to $200 million has exited the grayscale ETF just on that one launch day around one day after they launched obviously this added a lot of selling pressure at least in the short term for the price of Bitcoin because they sent a lot of this Bitcoin over to

Coinbase and keep in mind this is only around 4,000 Bitcoin close to $200 million that they dumped and that might seem like a lot of Bitcoin but if you’re looking over here grayscale actually holds well over 600,000 Bitcoin worth well over 20 billion us and so obviously if there’s a

Lot of people out there that want to leave grayscale that’s potentially a lot of selling pressure But ultimately that selling pressure is only applied when the ETFs are trading which happens when the stock market is trading and once again the US Stock Market opens up again on Tuesday because Monday is the public

Holiday and so essentially we could end up seeing another big move when ETFs open up again for trading on Tuesday and basically that move will be bearish if there’s more outflows from the ETFs than inflows and that move will be bullish if there’s more inflows than outflows but

Considering the fact that the ETFs only just launched and there’s probably a lot of capital waiting to leave the grayscale ETF if I had to bet I’ll probably bet on more outflows from the grayscale ETF compared to inflows which basically means they could be some more selling pressure about to hit the market

Starting on Tuesday so we could end up seeing a bearish move potentially on Tuesday but eventually obviously the outflows at some stage will stop coming out of grayscale which means that selling pressure will stop at some point considering there is a limited amount of Bitcoin in grayscale but obviously

Before we get to that point before they start running out of Bitcoin obviously they still have a lot of Bitcoin sitting in there which means in the short term we could have to put up with some selling pressure before we see a lot more bullish price action later on and

Here on the 1hour Bitcoin chart we can see a new symmetrical triangle pattern or potentially a bearish pennant pattern because we have a descending line of resistance and an ascending line of support first of all this line of support is sitting at approximately 42.6k and this line of resistance is sitting at around

43.1k approximately and so as always if we see a breakout to the upside above resistance that would set up a short-term bullish price Target and if we see a break below support that would set up a short-term bearish price Target and based on this being a symmetrical

Triangle pattern if we’re taking a look at the measured move for that breakout if we see a breakout above resistance that would set up a short-term bullish price Target at around 43.8k but on the other hand if we confirm a break below that line of support that would set up a price Target

To the downside at around 41.9k and so obviously that’s not a massive move remember we’re only looking at the 1 hour time frame so that’s around a 2% move in either direction depending on if we’re breaking above resistance or below support but as I said earlier once again this could

Potentially play out as a bearish Penance pattern not just a symmetrical trans which is similar to a bearish flag pattern if we confirm a break below support and so in that scenario honestly I’ll just expect a move down towards this area of support on the 4H hour time

Frame once again in between around 40 and a half th000 to 41k but just in the imminent shortterm is in over the next one day or so honestly I expect mostly choppy sideways price action nothing too significant in the short term because this is helping to reset the RSI which

Can give us more room to the downside later on potentially on Tuesday when those ETFs begin trading again and if you want to take these trades in the price of Bitcoin whether you think we’re going up or down you can trade in either Direction with Longs or shorts and

Personally I take these trades over on buybit so I’ll make sure to leave a link to buybit in the description down below and in the pinned comment and in fact if you use that link down below this video to make a buybit account you can get up

To a $30,000 deposit bonus but only if you use that link down below this video but for whatever reason if you cannot access bybit or if you cannot kyc on bybit there is also bitflex which is another crypto exchange similar to buybit but you don’t need kyc for

Bitflex and so I will also make sure to leave a link to bitflex in the description down below and in the pinned comment and if you use that link and deposit at least $100 worth of crypto and make one trade over on bitflex then you can get 10 usdt completely for free

And so if you’re trading crypto anyway or if you’re preparing to take the next trade you might as well get set up ready to go on one of those exchanges using those links down below this video If you want to get those extra bonuses but anyway taking a quick look at at the

Bitcoin liquidation heat map and right now we can honestly see not a lot of liquidity to either direction but we do have an area of liquidity sitting at around 40.3k approximately and obviously that’s sitting just below this area of support on the 4-Hour time frame and so once

Again it is quite likely that potentially on Tuesday when those ETFs begin trading again we could end up seeing a move down towards that area of support based on a lot of liquidity down towards that area but honestly if we do end up seeing that short-term bearish price action continue obviously I’ll be

Using that as a buying opportunity for my long-term Bitcoin Holdings because obviously in only around 3 months from now we have the Bitcoin harving coming up soon enough and so we still have a lot more bull market ahead of us it’s just right now in the short term

Obviously we’re seeing some weakness as in over the next a few days potentially over the next few weeks and if we’re taking a look at the eth to US dollar chart on the weekly time frame we only have a matter of hours to go less than half a day until this weekly candle

Confirms and obviously we need to see that Weekly candle close confirm above around 2440 in order to see that initial confirmation signal for the breakout above the 38.2% Fibonacci level of resistance here on the linear settings on the weekly time frame and if we end up seeing that happening if we see that

Weekly candle close above that resistance then obviously that would be a bullish signal once again and likely resulting in that resistance becoming new support and in that case the next resistance to pay attention to on the weekly time frame is the 50% retracement level which is sitting at around 2. 9k

But the next most significant area of resistance is of course the golden pocket starting at around 3.4k going up towards around 3.5k and obviously here on the weekly time frame the trend is still very much in the bullish Direction forming higher lows and higher highs and so no matter

What we’re seeing on smaller time frames like the 1H hour chart or the 4H hour chart obviously here on the weekly chart we’re still very much within a bullish Trend but if we’re taking a look at the daily time frame obviously right now we do have a new bearish Divergence playing

Out on that daily time frame which I did talk about recently on the channel and so once again with this bearish Divergence now confirmed with higher highs confirmed in the price and lower highs confirmed in the RSI once again this means we’re do to see reduced bullish momentum in the short term which

Usually plays out in the form of either choppy sideways price action or potentially a bit of a short-term pullback in the price of eth and so just in the shortterm talking about the coming days or weeks honestly I would not be expecting a significant amount of bullish price action obviously we can

See very short-term bounces here and there but I would not expect a lot of bullish momentum just in the short term here and if we’re taking a look at the 4-Hour time frame obviously we did see a slight Bounce from this 38.2% Fibonacci level of support on the 4-Hour chart

Sitting at around 2460 and so as for support I’d be paying attention to that level and also this area right here which was previous resistance and should now act as new support sitting in between around 2380 to around 2410 and as for short-term resistance we have now found some resistance at around 2580

Which was also previous support right here and so basically in the shorter term we’re seeing a bit of a CO off especially from the RSI being in overbought territories once again we were due to see a reset in the RSI anyway which results in reduced bullish price action and so basically we’re

Cooling off we’re just resetting from seeing all of that bullish price action but we’re not necessarily confirming a massive Trend reversal here on the larger time frames and especially if you’re looking at the E BTC chart here on the weekly time frame this is ethereum versus Bitcoin as I said in my

Last video we have a massive falling wedge pattern which is a bullish bias pattern and is extremely close to breaking out to the upside and on top of this falling wedge getting extremely close to a breakout we also have that massive bullish Divergence here on the

Weekly time frame playing out and on top of that obviously we’re bouncing from significant support like what we saw back here and so all we need to see now is a breakout Above This descending line of resistance which is sitting at approximately 0 061 Bitcoin per ethereum

And if we end up seeing that happening obviously that would be very bullish for the price of ethereum versus Bitcoin which means ethereum will likely be outperforming Bitcoin moving forward and once again if you want to know more about this chart right here then check out my last video here on the channel

And if we’re taking a quick look at the salanus US dollar chart on the 4-Hour time frame obviously over the last few days we’ve continued to see a lot of choppy sideways price action really nothing too significant but we did end up seeing another short term drop down

Towards this golden pocket and we bounced actually just before the golden pocket once again the golden pocket is sitting in between around 8350 to around $85.50 and we bounced at around $86 approximately and so right now as for short-term support and resistance we also have this 50% retracement level

Acting as support sitting at around $92 and we also have this level of resistance right here which we’re running into right now sitting at around $99 and above that level right there if we see a breakout above $99 with confirmation then our next resistance is sitting at around $105 if you’re looking

At these 4-Hour candle closes but if you’re looking at this Fibonacci level right here that’s sitting at around $108 to $109 which is also where these candle wicks are sitting at and so those are the short-term support and resistance levels that I’m currently watching for the price of salana in the shortterm and

Ultimately we’re just chopping around sideways in a somewhat sideways price range right here but believe it or not you can make a lot of easy profits in choppy sideways press action just like this and if you want to know how to do that then check out the video in the

Bottom left of your screen right now because that video right there shows you how he can easily profit from choppy sideways price action and the video in the top left shows you he can long or short crypto to make money if the price is bullish or bearish but anyway that is

Everything that I have to say for today I really hope you enjoyed and I’ll see you all in the next video