The Bitcoin CRASH Just Started (Final WARNING)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 5:06
Ethereum Technical Analysis! 11:56
Solana Technical Analysis! 14:59
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– Crypto World –
Welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin is sitting on the edge of a major break to the downside running into the final area of support and this is happening ahead of hundreds of millions of dollars worth of selling pressure due
To the spot Bitcoin ETFs which I’ll talk about in just a moment and on top of that ethereum is still playing out this bearish pattern on The Daily time frame which I’ll talk about later in the video so make sure to watch to the end first of all we need to talk about
The spot Bitcoin ETFs because of course the US Stock Market opens again today which means the spot Bitcoin ETFs begin trading again today and if you’ve been watching any of my last few videos here on the channel you would know that I am expecting a dump today in the crypto
Market and already we’re starting to see that dump exactly as expected and I continue to expect more selling pressure throughout this week and that is despite the fact that black rock is continuing to accumulate a lot of new Bitcoin because as of right now Black Rock is now holding over 33,000 430 Bitcoin
Worth well over 1.3 billion US for their spot Bitcoin ETF and you can actually see this on black Rock’s own website once again they’re holding well over 33,000 Bitcoin worth well over $ 1.3 billion in their spot Bitcoin ETF and so basically with every trading day with
Every day that the stock market is open this number is going up black rock is continuing to buy more and more Bitcoin but at this stage the amount that black rock is buying is simply not as much is the amount that grayscale is dumping because once again I’ve been talking
About this basically every day since the Bitcoin ETFs got approved over a week ago and basically saying that we should be expecting a lot of selling pressure due to grayscale specifically because when the spot Bitcoin ETFs actually got approved gry scull was holding well over 600,000 Bitcoin whereas right now
They’re holding roughly 570,000 Bitcoin still worth well over 23 billion us and so obviously at this stage grayscale is holding a lot more Bitcoin compared to Black Rock and black rock is a player that is accumulating a lot of Bitcoin right now whereas gry scale is a player
In the market that is dumping a lot of Bitcoin because this Bitcoin that gyale has been holding they’ve been holding that for years now well before the spot Bitcoin ETFs actually got approved and they’ve been charging very high fees on that Bitcoin that’s just been sitting there on behalf of investors and clients
Because all of this Bitcoin isn’t actually grayscales Bitcoin it’s basically people’s Bitcoin that just have their Bitcoin sitting with grayscale and grayscale is basically looking after it and charging a fee on that Bitcoin and that fee that grayscale is charging on all of that Bitcoin right
There is way too high compared to other fees for other spot Bitcoin ETFs because gray scale is charging around 1.5% whereas for example the Black Rock Spot Bitcoin ETF is charging only 0.25% and so when you’re talking about tens of billions of dollars obviously that difference between 1.5% and 0.25%
Is a massive difference in fees and so due to that obviously a lot of people are wanting to leave grayscale exit the grayscale Bitcoin trust and they weren’t really able to do that at the net asset value before the spot Bitcoin ETFs actually got approved because before the
ETFs were approved they could only sell their gbtc at a discount so basically selling it below net asset value but instead a lot of people were just waiting for the spot Bitcoin ETFs to actually get approved and now that they’re approved they’re able to exit grayscale at net asset value but because
The grayscale Bitcoin ETF is a cash create ETF grayscale cannot pay out this Bitcoin in Bitcoin they have to pay out in US Dollars which means they have to dump Bitcoin and pay out in US dollar if people are wanting to leave grayscale and because there’s billions of dollars
That want to leave grayscale that means billions of dollars worth of selling pressure a lot of Bitcoin being dumped on the market and once again I’ve been saying this basically every single day over the last one week or so ever since the spot Bitcoin ETFs have been approved
And ever since then obviously we have seen a dump in the short term in the price of Bitcoin exactly as expected and I do continue to expect this moving forward at least over the coming days possibly over the next few weeks but obviously eventually they’ll run out of
Bitcoin the Bitcoin that’s wanting to exit grayscale will have exited grayscale at some point in the future and so once again at that point in the future we could see less selling pressure due to grayscale whereas we could still see that constant buying pressure due to other players like Black
Rock and so as I’ve also been saying over the last one week even though I expect shortterm selling pressure due to grayscale and a short term bearish price action for Bitcoin over the much longer term as in multiple months from now or years from now the spot Bitcoin ETFs are
Actually extremely bullish for Bitcoin but that’s talking about the much longer term not in the next few weeks and I am recording this video just before the US Stock Market actually opens today on Monday and so I don’t know the exact amount that’s going to exit gray scal
Today on the US Stock Market but as always I’ll keep you up to date in real time over on my Twitter so if you want these extra real time updates throughout the day make sure to follow me over on on my Twitter to stay up to date and I
Will leave a link to my Twitter right here in the description down below and in the pinned comment but anyway getting into the Bitcoin charts today looking at the daily Bitcoin chart and right now the bearish Divergence is still playing out as expected because once again as I’ve been saying basically every day
Over the last one and a half weeks or so since all the way back up here I’ve been saying I would not be expecting any significant bullish momentum in the short term and instead it’s very likely that we’re going to see either some choppy sideways price action or a
Pullback in the price of Bitcoin as the most likely scenarios here on the daily time frame and so with this bearish Divergence still active on the daily chart obviously I continue to expect that type of price action moving forward and staying on the daily time frame
Looking at the dxy also known as the US dollar Index obviously this bounce is continuing to the upside and has continued over the last couple of weeks and so as I’ve been saying almost every day over the last couple of weeks this is a warning signal for Bitcoin and
Crypto basically warning us that we’re probably going to see a little bit more short-term bearish price action here because once again if you’re looking at this chart right here we can clearly see that when the dxy is bullish that is almost always bearish for Bitcoin and
Crypto and on top of the dxy being bullish which is a warning signal for Bitcoin and crypto and on top of the bearish Divergence playing out for Bitcoin if we’re staying on the daily time frame right now the Bitcoin price is extremely close to Breaking this critical line of support which is
Sitting at around 40.3k approximately and so obviously if we simply break that line of support right there with daily candle closes below that line of support that would be a fairly strong signal pointing towards a trend reversal on The Daily time frame from this bullish Trend
Into a new bearish trend just on the daily time frame but as always it is important to understand the difference between the different time frames so even if we’re in a bearish trend on The Daily time frame like what we saw just here or just here for example if you’re
Zooming out to a much larger time frame like the weekly Bitcoin chart obviously these short-term bearish Trends can still occur with in the much larger bullish Trend which you can view on the larger time frames like the weekly chart and so essentially if we break that line
Of support right there once again we could enter into a bit more of a short-term bearish Trend which could last over the next few weeks maybe even over the next one month or so but even that can still occur within the much larger bullish Trend as you can see here
That’s been going on for well over a year and so that’s why it’s important to understand the difference between the different time frames because obviously we could be bearish on one time frame and bullish on another time frame without contradicting the two time frames but as I’ve also been saying
Recently on the Channel with the RSI in a downtrend on The Daily time frame while the price is struggling in the bullish Trend this is also a signal telling us that we could see a trend reversal in the price of Bitcoin because generally speaking if the RSI reverses
Into a bearish trend at the very least that’s a sign of weakness for the bullish Trend in the price of Bitcoin and often times a trend reversal in the RSI can actually be a leading indicator for the price but if we’re taking a look at the shorter term looking at the 4
Hour time frame right now the price of Bitcoin is running into this final area of support for this massive sideways price range and this area of support is sitting in between around 405,000 to 41k and so at least as of right now while the price of Bitcoin is sitting in that
Area of support obviously it’s still possible we could actually see a final Bounce from that area but like I said earlier if we start breaking below around 405,000 or 40.3k here on the daily time frame basically if we start dropping back into the 30k range with candle closes back in that range then
Once again that would be a short-term bearish signal and in that case the next short-term levels of support that I’ll be watching out for is sitting at around 38,000 and below that we have more support at around 36,000 approximately and as for that short-term bullish Divergence here on the 4-Hour time frame
Just recently we have now invalidated that bullish Divergence because obviously we’ve just seen a new lower low in the price of Bitcoin in the candle closes here on the 4-Hour time frame but but as I said over the last few days once again I would not be expecting this bullish Divergence to
Play out any longer than the weekend because like I said over the last few days we could see a slight bullish relief or most likely some choppy sideways press action just over the weekend but when Monday comes around expect some selling pressure due to the spot Bitcoin ETFs mainly due to
Grayscale and so that’s basically the situation right now in the short term thanks to grayscale we do have a lot of selling pressure in the Market at least in the short term but remember it’s important to understand the difference between the different time frame so even
If we’re bearish in the short term we can remain within that much larger bullish trend on the weekly time frame for example and if we zooming into the much shorter term looking at the 1 hour time frame obviously like I said over the last few days we did have a very
Small bullish Divergence here on the 1 hour chart with lower lows in the price and higher lows in the RSI and once again as I’ve been saying over the last few days since all the way back around here I expect mostly choppy sideways price action or possibly a slight
Bullish relief but only over the weekend once again as soon as Monday comes around which right now it’s Monday obviously expect selling pressure which is now what we’re seeing as expected but if you’re looking at the 1hour Bitcoin RSI we could have a very small bullish Divergence right here as you can see
Higher lows in the RSI and lower lows in the price but it’s important to understand that the 1H hour chart is really not that significant compared to larger time frames so for example if we start breaking below this line of support on the daily chart then
Obviously a small pattern on the 1 hour time frame is not really going to mean much but believe or not you can actually make profit no matter what direction the price is going if we’re bullish you can use long positions or if we’re bearish you can use short positions to easily
Profit from the price and if you’re wondering where I take those trades personally I trade over on buybit so I’ll make sure to leave a link to bybit in the description down below and in the pinned comment and if you use that link 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 bit there is also bitflex which is another crypto exchange similar to bybit 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 to make a bitflex account and deposit $100 worth of crypto and to 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 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 if we’re taking a quick look at the Bitcoin
Liquidation hit map as we can see we still actually have a lot of liquidity to the upside but we now have some new liquidity levels to the downsides and as you can see over the last one day the price of Bitcoin obviously took out that lower liquidity level which was sitting at around
41.2k and right now we do have some more liquidity right here at around 40.2k and so basically in the short term that’s attracting the price of Bitcoin towards that level but anyway getting into the ethereum part of this video this is on the daily time frame and right now the bearish Divergence is
Still playing out exactly as expected because once again as I’ve been saying almost every day over the last 1 to one and a half weeks I would not be expecting any significant bullish momentum in the short term and instead it’s very likely that we’re going to see
Either choppy sideways price action or a pullback in the price of e which is obviously what we are now seeing and as I’ve also said over the last two days we have now confirmed a bearish cross in the daily ethereum Mac te so once again
As I’ve said over the last few days this means we’re about to see more bearish momentum so we expect some more short-term bearish price action which once again is now playing out as expected and if we’re zooming into the shorter term looking at the 4-Hour time frame obviously right now the price of
Eth is still possibly forming this falling wedge pattern but right now we’re getting extremely close to a break to the downside basically if we break below around 2370 then that essentially invalidate this falling wedge but obviously right now the falling wedge is not active anyway because in order to to
Activate the pattern and the bullish price Target we need to first see a confirmed breakout Above This resistance which obviously right now has not happened and in case you’re wondering this line of resistance right here is sitting at approximately 2450 but what’s very interesting about
The 4H hour time frame is right now the 4-Hour ethereum RSI is entering into oversold territories which technically means at least in the imminent shortterm here we have somewhat limited room to the downsides and so basically what that means is we’re due to to see either a
Slight bounce or at least some sort of sideways consolidation basically a bit of a pause from that bearish price action and that can help to recover the RSI out of those oversold territories which can actually give us more room to the downside later on and so once again
In the short term just on the 4-Hour time frame the price of eth is still in this bearish trend forming lower highs and lower lows as I’ve been saying for a while now on the channel and so even if we do see a slight bounce to reset that
RSI once again we’re still in that short-term bearish Trend and as for support and resistance within this descending parallel Channel we have support sitting at around 2370 approximately and this resistance line is sitting at around 2.5k approximately and obviously if you’re zooming into the 1H hour time frame this previous
Short-term bullish Divergence is now over obviously we formed a new lower low in the price and in the RSI which completely invalidates this short-term bullish Divergence but like I said anyway over the last couple of days I did not expect this bullish Divergence to play out for very long considering
It’s only on the 1 hour time frame and considering that I’m expecting selling pressure during the weekdays due to the Bitcoin ETFs which can drag down the overall crypto market and so overall we’re basically trending in the bearish direction in the short term we’re currently in a correction or pullback
Here on the daily time frame but obviously during this short-term bearish Trend we can see small bounces here and there during the bearish trends for example right now we could potentially be in for a little bit of a bounce or sideways consolidation due to the RSI being in oversold territory iies and if
We’re taking a look at the price of salana against the US Dollar on the 4-Hour time frame we’ve just seen another almost perfect Bounce from the golden pocket area of support which is sitting in between around $835 to $85.50 and so once again in the short
Term that is still the support to watch out for but if we break below $835 then i’ would expect a drop down towards around $77 but until then while the price is still holding above the golden pocket we’re looking relatively neutral we’re basically in a choppy sideways price
Range in between the golden pocket and this area of resistance which is sitting closer towards around $108 and so like I’ve been saying for a while now on the channel obviously a grid bot strategy can make a lot of easy profits in this choppy sideways price action but obviously once we eventually
Leave that sideways price range whether we’re breaking out above that line of resistance or below the golden pocket at that stage that would be the point where we could potentially close a grid bot strategy and enter another trade like a short position to the downside or a long
Position to the UPS side depending on if we’re breaking support or resistance and if you want to know more about all of those trades those grid bot strategies long positions and short positions all of that and more then make sure to watch these videos popping up right here on
Your screen the video in the top left shows you how you can make profit if the price is bullish or bearish using Longs and shorts and the video in the bottom left shows you how you can easily profit from choppy sideways price action using grid Bots but anyway that is everything
That I have to say for today I really hope you enjoyed it and I’ll see you all in the next video
19 Comments
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Educational and entertaining, a perfect blend executed with finesse and sophistication.🐱
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Don’t sell zoom out😊
why can’t grayscale just reduce the fee
Thanks!!!
DOGE ⏰⛽🚀🌕
We going to pump soon
Grayscale should be completely boycotted by all
I think eth will hit 2050 to 1850 and btc 37000 to 35000 by the end of January
As always another GREAT video mate , much love and respect from Pakistan
If we hold support here, the market maker’s could push price up. Beware.
U v been bear so loong, worst than cheeky crypto
28K I TOLD YALL
Let it go dark red..bring it to 30k
un video davvero utile e ben fatto, complimenti 🦾
Who is grayscale ?
Just buy, buy and buy
Subscribed! You explained everything so well and made so many good points that I've not seen anyone talk about.