BITCOIN: IT’S HAPPENING AGAIN (Don’t Be Fooled)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN: IT’S HAPPENING AGAIN (Don’t Be Fooled)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 3:16
Ethereum Technical Analysis! 10:04
Solana Technical Analysis! 12:46

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– Crypto World –

Welcome back to the c channel everyone my name is Josh and right now Bitcoin history is repeating again which I’ll talk about in just a moment and on top of that Bitcoin is now retesting a critical level on the chart while ethereum is now bouncing from important short-term support so I’ll be talking

About all of that and more in this video so definitely watch to the end first of all just quickly talking about some Bitcoin ETF news today because just yesterday Grace gal sold another approximately 15,2 120 Bitcoin worth roughly around $600 million and I won’t be going too much

Into detail about the grayscale selling pressure in this video today because I’ve done that basically every day over the last one to two weeks pretty much ever since the spot Bitcoin ETFs actually got approved and began trading but basically all you need to know in case you’re new to this channel is

Grayscale is still holding a lot of Bitcoin they’re holding around 543,000 Bitcoin at the time of recording this video worth nearly 22 billion US dollar and basically a lot of Bitcoins flowing out of grayscale causing selling pressure in the short term and once again if you want to know exactly why

That’s happening and why it’s causing selling pressure then watch my last few videos here on the channel but basically moving forward on weekday when the US Stock Market is open so when the Bitcoin ETFs are actually trading I continue to expect this type of selling pressure from grayscale moving forward and so

Basically just on weekdays Monday to Friday I expect around 10 to 20,000 Bitcoin dumped on the market every day by grayscale worth a few hundred million us worth of selling pressure but if this continues moving forward at the current rate of sell pressure of course grayscale could run out of their Bitcoin

Holdings in roughly around a month from now but as I also said in my last video it’s unlikely that they’ll completely deplete their Holdings to zero so they’ll likely change something before their Holdings actually get to zero which means perhaps in less than a month from now perhaps in a couple weeks from

Now this selling pressure due to gray scale will likely be over and so just a reminder in the shortterm is in over the next few days maybe over the next couple of weeks we could still be expecting short-term selling pressure due to grayscale but that selling pressure is

Not going to last forever and a lot of this Bitcoin that grayscale is dumping on the market is actually ending up over at Black Rock in the Black Rock Spot Bitcoin ETF and now black rock is not absorbing all of that sell pressure gray scale is selling more than what black

Rock’s buying but black rock is still buying a lot of Bitcoin at the moment because as of right now black rock is currently holding over 44,000 bit coin worth over $1.7 billion as you can see here on black Rock’s own website once again they’re holding 44k Bitcoin worth

1.7 billion us and so black rock is continuing to buy more and more Bitcoin even while grayscale is dumping and so once again perhaps in a few weeks from now when grayscale is basically done selling when we no longer have that massive sell pressure we could still

Have a lot of buying pressure due to Black Rock and obviously black rock is just one major buyer in the market there’s plenty of other instit institions managing spot Bitcoin ETFs and also other institutions like micro strategy continuing to buy more and more Bitcoin and so basically I’m looking at

This selling pressure from grce gal as a temporary buying opportunity it’s temporarily lowering the price of Bitcoin but once again it will not last forever but anyway if we’re taking a look at the Bitcoin charts looking at the daily time frame and over the last one day we’ve actually seen pretty much

A perfect Bounce from this area of support which I mentioned in my last video and that area of support is sitting in between around 37.9k to around 38.4k and as you can see right here on the chart we saw about pretty much exactly at that level of support at

Around 38.5k approximately and so at least for now that is the support to pay attention to on The Daily time frame obviously we can still bounce at these levels of support but if we break below that first area of support then the next area of support is sitting in between around 35.3k to

35.8k and below that area of support we also have more support right down here sitting in between around 33.4k to 33.9k and obviously this bearish Divergence is still playing out which means I would not be expecting any significant bullish momentum in the short term and instead we’re most likely

Going to see either choppy sideways price action or a continued pullback in the price of Bitcoin as the most common outcomes from a bearish Divergence and obviously if you’re looking at the dxy on The Daily time frame we’re still in this bounce to the upside obviously over

The last one day we’ve actually seen a slight dip in the dxy which coincides with a slight bounce in the price of Bitcoin but overall I’ll be keeping an eye on this dxy because obviously if we continue trending to the upside here in the dxy then that’s likely going to

Result in some lower prices in the price of Bitcoin and so as always I’ll keep you up to date on these important Bitcoin charts and the dxy so make sure you subscribe to this Channel with notifications turn on so that you don’t miss out on any of these important

Update videos and if you’re enjoying this video make sure to hit the like button down below because it really helps out with these videos but anyway taking a look at this daily Bitcoin chart and what we’re seeing right now is actually a retest of this previous ascending line of support which is

Currently acting as new resistance and that line is sitting at around 40.4k to 40.5k and so this is an important retest for the price of Bitcoin because if we see a rejection from that line right there basically if we confirm it as resistance with a rejection then that

Further confirms the break to the downside and would obviously be a bearish signal but on the other hand if we actually confirm daily candle closes back above around 40.5k back above this line right here then that could potentially invalidate the break to the downside and so this is why this retest

Is important for the price of Bitcoin at least in the somewhat shorter term because it can really tell us where we might be heading next over the next few days or weeks but once again at least for now overall in the short term we’re lacking bullish momentum the RSI is

Trending to the downside showing weakness in the price obviously we still have that bearish Divergence playing out and while the dxy is moving to the upside once again I would not be expecting significant bullish price action for Bitcoin or crypto but as I’ve explained recently on the channel

Obviously this is just the shorter term Trends as we could see here on the daily time frame we have the short-term bullish and bearish Trends but overall these short-term bullish and bearish Trends have been occurring within a much larger bullish Trend that has been the case since the beginning of 2023 and so

Essentially that much larger bullish Trend visible on the we l time frame for example is basically a bull market and so essentially we’re in a short-term correction or short-term bearish Trend during a larger bull market and if we zooming into the shorter term looking at the 4-Hour time frame right now once

Again we’re retesting an important area of previous support now acting as new resistance and that area is sitting in between around 40.6k approximately or 40 and a half thousand going up towards around 41k and so basically if we see a rejection from around 40 and half th000

To 41k anywhere in that price range right there then once again that would further confirm the break to the downside and would obviously be a short-term bearish signal and I would only start to flip a little bit more bullish again in the short term if we start to see a confirmed breakout back

Above around 41,000 but obviously here on the 4-Hour time frame we can clearly see that at least for now the trend is bearish we’re forming lower highs and lower lows on the smaller time frames like this 4-Hour chart and in fact right now on the two hour Bitcoin chart history is repeating

Because we are seeing a new bullish Divergence playing out just in the imminent short term on the 2hour time frame and throughout this short-term bearish Trend this has already occurred twice this is actually the third time this is happening during this same short-term bearish Trend and so as

Always a bullish Divergence does not always result in a trend reversal in fact they most commonly play out in the form of either choppy sideways price action if not a slight bullish relief just in the short shortterm and so that’s basically what’s happening right now once again we have an active bullish

Divergence on the 2hour time frame playing out in the form of a slight bullish relief and this could potentially last over the next one day or so but considering it’s only on the 2hour time frame I don’t expect this to last very long and perhaps when this begins fading away obviously we could

Potentially continue that short-term bearish Trend later on as we’ve seen these previous times and so that’s basically the situation right now in the imminent short term we’re seeing a slight bullish relief due to this pattern happening again like we’ve seen back here and back here but ultimately this is occurring within a short-term

Bearish Trend which is occurring within a much larger bullish Trend or a bull market and if you want to trade these moves in the price of Bitcoin whether you think we’re going up or down you can use Longs or shorts to make money in either direction 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 to make a barit 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 Pinn comment and if you use that link to make a bitflex account and deposit $100 worth of crypto and to make just one Trader 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 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 and just taking a quick look at the Bitcoin liquidation hit map if you’re looking at

The last 3 months worth of price action we can still see a lot of liquidity sitting closer towards around 34,000 and we also have some other levels of liquidity between now and then so if you want to know more about this right here then check out my last video

Here on the channel because this chart right here on the 3month time frame looking at the last 3 months worth of price action has not really changed all that much over the last one day and so 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 which means we should not be expecting any significant bullish momentum at least in the short term and once again we’re most likely going to see either choppy sideways price action if not a pullback

In the price of eth as the most likely scenarios and on top of the bearish Divergence playing out obviously if you’re looking at the daily e MCD this is still currently showing a lot of bearish momentum as I’ve been warning about basically every day since all the

Way back up here and so simply based on the macd this is actually telling us that we’re likely going to see a little bit more short-term bearish price action moving forward but obviously we’re just about running into this major area of support which was previous resistance

And that area of support is sitting in between around 2.1k to 2150 and the price pretty much perfectly bounced just above that area of Support over over the last one day but if you’re zooming into the shorter term we actually perfectly bounced from this area of support which

I mentioned in my last video and this area of support is sitting in between around 2170 to around 2.2k and obviously that area of support right there is based on previous support and is still currently supporting the price of eth in the short term and at

The same time as the price running into that area obviously the RSI on the 4-Hour time frame entered into oversold territories which technically means we have somewhat limited room to the downside and so that’s basically what’s happening right now once again we’re bouncing from support while the RSI was

In oversaw territory so we’re resetting the RSI out of oversold territories which can actually give us more room to the downside later on once we reset that RSI and just like Bitcoin on the 2hour time frame if you’re looking at the 2hour E to US dollar chart we also have

A very small bullish Divergence now playing out because obviously we’ve confirmed lower lows in the price in the candle closes while also confirming High higher lows in the 2hour ethereum RSI and so once again what this means is just in the imminent short term as in

Over the next 1 to two days or so we’re most likely going to see a little bit of a break of a little bit of a pause from that short-term bearish price action so we’re most likely going to see either choppy sideways price action or a slight bullish relief just in the imminent

Short term but remember this is only on the 2hour time frame so this is not a significant pattern so I would not expect a significant move to play out from this pattern right here and once again on small time frames they usually play out very fast they don’t play out

Very long and so basically we’re helping to reset the RSI once again on the 4our time frame which can potentially give us more room to the downside later on considering as of right now we’re still technically within a short-term bearish Trend and if we’re taking a look at the

Price of salana against the US Dollar on the 4-Hour time frame obviously over the last one day we’ve seen pretty much a perfect Bounce from just above this Fibonacci level which was sitting at around $77 and the price bounced from around $78 and obviously at the same time as

The price running into that level of support or bouncing just above that level of support the RSI on the 4-Hour time frame also entered into oversold territories meaning we have limited room to the downside at least in the short term kind of like what we saw just here

But once again these short-term bounces in the price could just help to reset the RSI back to the upside which can give us more room to the downside later on and so it’s important to understand what trend we are in once again on the smaller time frames in the short term

Like on the 4-Hour chart we’re currently trending in the bearish direction and obviously during a bearish trend we can see short-term pumps and short-term bullish price action here and there during a bearish trend and as for support and resistance we could Now find a bit of shortterm support around that

Golden pocket sitting in between around $835 to $85.50 and below that once again we have support at around $77 to $78 and as for short-term resistance in case this bounce continues further to the upside then we should have some resistance at around $91 to $92 and above that we have more resistance at

Around $99 to $100 but if you want to know how you can profit from crypto no matter what direction the price is going whether we’re bullish bearish or chopping around sideways you can make money in all of that price action by watching these videos popping up right

Here on your screen the video in the top left shows you how to make money if the price is bullish or bearish using Longs or shorts and the video in the bottom left shows you how you can easily profit from choppy side ways press action 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