THE BITCOIN DUMP IS OVER (for now…)!! Bitcoin News Today & Ethereum Price Prediction!

THE BITCOIN DUMP IS OVER (for now…)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today! 0:00
Important Bitcoin Analysis! 3:58
Ethereum Technical Analysis! 9:16
Solana Technical Analysis! 12:23

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– Crypto World –

Welcome back to the good Channel everyone my name is Josh and right now Bitcoin is bouncing from critical support After experiencing another short-term dump caused by $500 million worth of selling pressure and on top of that both Bitcoin and ethereum are playing out new patterns in the short

Term which can tell us where the prices are going to head next so I’ll be talking about that in just a moment definitely stick around first of all just before getting into the Bitcoin charts today we need to talk about the Bitcoin ETF news because just yesterday grayscale sent another

Approximately 13,000 Bitcoin worth well over half a billion us to coinbase to dump that Bitcoin again and so once again as I’ve been saying basically every day over the last one week or so basically ever since the Bitcoin ETFs got approved obviously this can cause selling pressure in the short term for

Bitcoin mainly to do with the grayscale Bitcoin trust the grayscale ETF because just over one week ago before the Bitcoin ETFs were actually approved gray scale were holding over 600,000 Bitcoin in the grayscale Bitcoin trust whereas right now they’re actually holding around 573 th000 Bitcoin currently worth over

23 billion US and some people have been asking how did Grace go actually accumulate this much Bitcoin and well this is not grayscale’s actual Bitcoin this is holding Bitcoin on behalf of clients on behalf of investors because basically the plan for gray SC for multiple years now has been for spot

Bitcoin ETFs to get approved so we’ve been waiting multiple years for the spot Bitcoin ETFs to actually get approved and basically while the ETFs were not approved years before they were approved when gray scale was still holding a lot of this Bitcoin of course the only way

To exit gbtc to exit the grayscale Bitcoin trust was to sell gptc at a discount which is what was happening during the bare market and so basically if you had your money sitting in Bitcoin held by grayscale in the grayscale Bitcoin trust you could only exit gbtc

Once again by selling at a discount because you can only exit at the net asset value once the spot Bitcoin ETS were actually approved and once again as soon as they got approved a lot of people that were finally waiting to exit grayscale can all of the sudden exit

Grayscale basically all at once that is what has been happening and the main factor as to why a lot of people are wanting to leave grayscale and perhaps go elsewhere with their money is honestly to do with the fact that grayscale’s fee for their spot Bitcoin

ETF is simply way too high compared to competitors because grayscales Bitcoin ETF is sitting at 1.5% whereas for example Black Rock Spot Bitcoin ETF is sitting at 0.25% so obviously that’s a massive difference between 0.25% and 1.5% when you’re talking about billions of dollars

And so once again due to that a lot of people have been exiting grayscale and because grayscale is a cash create ETF in order to exit grayscale they have to sell Bitcoin and payout in US Dollars and so once again that’s exactly what happened yesterday because we saw

Another 13,000 Bitcoin dumped on the market around $500 million causing a dump in the price of Bitcoin and and now the good news is that right now it is a weekend which means the spot Bitcoin ETFs are not trading because they only trade when the US Stock Market is open

So on weekdays and so basically we should not be expecting that selling pressure today or on Sunday because the stock market is closed so the grayscale ETF is not trading but as soon as Monday comes around when the US Stock Market opens back up again I do continue to

Expect more selling pressure led by grayscale because there’s simply a lot of Bitcoin looking to exit the grayscale Bitcoin trust because once again their fees are simply way too high but eventually obviously they’re going to have to run out of Bitcoin at some stage obviously they still hold a lot of

Bitcoin but it is a limited amount of Bitcoin so at some stage they will run out of Bitcoin and so like I’ve been saying once again over the last one week this is short-term bearish expect short-term selling pressure but over the much longer term as in months or years

From now the spot Bitcoin ETFs are actually very bullish it’s just we do have a bit of short-term selling pressure thanks to Grays scale but anyway getting into the Bitcoin chart today looking at the daily Bitcoin chart and right now the bearish Divergence is still playing out as expected resulting

In a bit of a pullback in the price of Bitcoin because as always the most common outcomes from a bearish Divergence are either choppy sideways price action or a bit of a pullback which is what we are now seeing and if we’re taking a look at the dxy or US

Dollar Index right now this is still bouncing to the upside which once again is a warning signal for Bitcoin and crypto because if the dxy is bullish that is usually bearish for Bitcoin and crypto and so as always I’ll make sure to keep a close eye on the dxy and as

Soon as something changes I’ll make sure to keep you updated here in these videos on this channel so make sure subscribe to this Channel with notifications turn on so that you don’t miss out on any of these important update videos and now staying on the daily Bitcoin chart and

Over the last one day we’ve seen a perfect Bounce from this exact line of support which is sitting at roughly around $40,000 just above 40,000 and so like I’ve been saying in recent videos here on the channel That is an important line of support to pay attention to

Because if we start breaking below 40,000 that would actually be a signal of a trend reversal here on the daily time frame but unfortunately even though we have not yet seen a break to the downside in the price below this line of support if we’re looking at the daily

Bitcoin RSI this has already reversed into a bearish trend which can possibly be a leading indicator for the price because basically while the price is in a bullish Trend but slowing down lacking bullish momentum if we’re seeing a bearish trend form in the daily Bitcoin

RSI once again this is usually a sign of weakness for the price of Bitcoin and usually results in some slightly lower prices later on and so perhaps when the ETFs begin trading again on Monday when the Stock Market opens next week once again we could see more selling pressure

Resulting in some slightly lower prices but remember all of that’s just talking about the somewhat shorter term is in the coming days or weeks but if you’re talking about multiple months or a year from now once again I’m still very much bullish on the much larger time frames

Like the weekly chart but anyway if if we’re taking a look at the much shorter term looking at just the 4-Hour time frame obviously over the last one day we saw another perfect Bounce from this area of support which is sitting in between around 405,000 to 41k and once

Again as I said in my last video here on the channel we also have a new bullish Divergence here on the 4-Hour time frame which is resulting in a slight bullish relief and also some choppy sideways price action which is what we’ve seen over the last one day as expected and so

I do continue to expect that type of price action especially over the weekend while we’re lacking that extra selling pressure from grayscale and so once again just this weekend I’ll would be expecting some choppy sideways price action or possibly a very slight bullish relief but I would not be expecting

Significant bullish momentum due to the larger bearish Divergence playing out and once again when Monday comes around we’re most likely going to see some more selling pressure from grayscale but as for support and resistance once again we saw another perfect Bounce from that area of support and as for resistance we

Have this previous area of support now acting as new resistance sitting in between around 42.4k to 42.7k and above that we also have some more resistance at around 43.3k and more resistance starting at around 44.3k and if we zooming into the much shter term looking at just the 1 hour

Time frame we also have a new bullish Divergence here in the imminent short term with lower lows confirmed in the price in the candle closes and higher lows confirmed in the 1hour Bitcoin RSI and so once again this means where most likely going to see either choppy sideways price action or potentially a

Slight bullish relief just in the short term as in talking about the next 1 to two days or so and if you want to trade these moves in the price of Bitcoin whether you’re bullish or bearish you can make money with long positions or short positions and personally I take

Those 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 if you use that link down below this video to make a buyit account you can get up to a $30,000 deposit

Bonus but only if you use that link 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 P comment and if you use that link and deposit at least $100 worth of crypto and make one trade over on bitflex 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 or ready to go on one of those exchanges using those links down below this video If you want to get those extra bonuses and now taking a quick look at the Bitcoin

Liquidation hit map and as we can see we do have one liquidity Zone to the downside which is sitting at around 40.2k but we do actually have more liquidity to the upside compared to the downside at least in the short term and so some liquidity zones to look out for

Are first of all sitting at around 42.2k to 42.3k above that we have more liquidity at around 43 ,000 to 43.1k and above that we do have a decent level of liquidity at around 43.7k and so basically those are just some short-term price targets to pay attention to because once again Bitcoin

Usually gets attracted towards those areas of liquidity but anyway getting into the ethereum part of this video this is on the daily eth to us doll chart and right now the bearish Divergence is still playing out as expected right now playing out a short-term pullback in the price of eth

And so once again as I’ve been said for the last one week or so I would not be expecting any significant bullish momentum at least in the short term and instead we’re most likely going to see either choppy sideways price action if not a pullback in the price of eth

Potentially over the next couple of weeks and also if we’re looking at the daily ethereum macd we announcing a new bearish cross in this indicator telling us we’re about to see some more bearish momentum building up and so once again just in the short term that is a short-term bearish signal telling us

That we could potentially see a little bit more of a pullback back before eventually a recovery later on and if we’re taking a look at the shorter term looking at the 4-Hour time frame we just saw another perfect Bounce from this previous area of resistance now acting

As new support which is sitting in between around 2390 to around 2420 and so at least in the short term that is the important area of support to pay attention to but if we see a confirmed break back below that area then in that case our next short-term

Support would be sitting at around 2330 and below that we also have more support at around 2260 and some more support down towards around 2160 and once again just in the short term we’re currently in a short-term pullback as we can see here on the 4H hour time frame we’re actually looking

Bearish in the short term forming lower highs and lower lows which is technically a bearish trend and as of right now while the price is in this short-term descending parallel Channel a bearish parallel channel of course we have this line of support acting as perfect Support over the last one day

Which is sitting at around 2 2.4k and just yesterday it was sitting at around 2410 and as for short-term resistance this is sitting at around 2540 approximately which basically means even if the price goes all the way up towards 2540 to 2530 and if we see a rejection

From that level we can still be within the short-term bearish Trend the short-term descending parallel Channel but during this small bearish Trend right here if we’re zooming into the much shorter term just this price action right here here on the 1H hour time frame we do actually have a very

Short-term bullish Divergence because obviously over the last one day or so we’ve confirmed a new lower low in the price in the candle closes while confirming a higher low in the 1 hour ethereum RSI and so once again like I said for Bitcoin on the 1H hour time

Frame this means we’re most likely going to see either some choppy sideways price action or potentially a little bit of a bullish relief just in the imminent short term as in over the next 1 to 2 days or so but remember this is only on the 1 hour time frame we’re only talking

About the smaller and quicker moves here which remember if we see a bullish move like that that could just simply be a bullish move like this on the 4-Hour time frame still within the bearish trend but at least while it’s the weekend once again we’re most likely going to see relatively boring price

Action because we do usually see much lower trading volumes during the weekend and once again the spot Bitcoin ETFs are not trading on the weekend and speaking of choppy sideways price action taking a look at the price of salana against the US Dollar on the 4H hour time frame and

Right now the price of salana is still just chopping around sideways in this sideways price range in between the golden pocket and the 23.6% Fibonacci level which is acting as resistance and in case you’re new to this channel the golden pocket is sitting in between around $835 to

$85.50 and this Fibonacci level acting as resistance is sitting at around $18 to $109 but believe it or not while the price of salana is just chopping around sideways here in this sideways price range you can actually make a lot of easy profits from this choppy sideways

Press action and if you want to know how to do that then make sure to watch the video in the bottom left of your screen right now because that video right there shows you how you can easily profit from choppy sideways price action and the

Video in the top left shows you how you 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