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Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 2:52
Ethereum Technical Analysis! 13:49
Solana Technical Analysis! 17:26
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– Crypto World –
Welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin is flashing a new signal in the short term as the price is running into critical shortterm resistance and on top of that the Bitcoin liquidation heat map is revealing new price targets that we
Need to pay attention to and on top of that ethereum is potentially repeating history playing out a new fractal in the short term so I’ll be talking about all of that and more later in the video so definitely watch to the end first of all just quickly talking
About Bitcoin ETF news today because just over the last one day just yesterday gry skull sold another approximately 10,900 Bitcoin worth around $450 million they sent that amount of Bitcoin over to coinbase to dump on the market but as I talked about in my last video grayscale is actually selling less and less
Bitcoin compared to previously of course over the last one to two weeks or so on weekdays they’ve been selling closer towards 15 to 20,000 Bitcoin each weekday but just the other day they sold only around 9,00 000 and just yesterday they sold only around 10,000 so basically they’re reducing their selling
Pressure compared to previously compared to around a week ago and now obviously there’s still a lot of Bitcoin sitting in the grayscale Bitcoin trust still over 500,000 Bitcoin worth over 21 billion us and so in theory once again there could still be a lot of selling pressure due to grayscale but once again
What we are now seeing on week days is there’s less Bitcoin outflows from grayscale compared to previously and so of course there’s still some selling pressure thanks to grayscale but because it’s less selling pressure compared to around a week ago for example and considering there’s still a lot of
Buying pressure from other ETFs like for example the Black Rock Spot Bitcoin ETF buying a lot of Bitcoin obviously as I explained in my last video that can actually lead to a price recovery in the price of Bitcoin basically flipping more bullish again if we start to see Less
Sell pressure from grayscale but obviously right now it’s the weekend and on the weekend the US Stock Market is closed which means the spot Bitcoin ETFs are not Trading and so essentially over the weekend we have nothing new with the ETFs no inflows or outflows so I do not
Expect any significant selling pressure or buying pressure from the ETFs over the weekend because obviously they’re not trading on the weekend and so this could potentially result in relatively neutral price action over the weekend possibly a sideways consolidation nothing too crazy and then perhaps on Monday when the US Stock Market opens
Again of course the ETFs begin trading when the US Stock Market opens which means we could see more selling pressure or buying pressure depending on the inflows or out flows from the ETFs which I’ll be sure to cover in real time over on my Twitter and every day here on the
Channel and so if you want to stay up to date on all of this information then 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 on top of that if you want extra real time updates throughout
The day make sure to follow me over on my Twitter link Down Below in the description and in the pinned comment but anyway getting into the Bitcoin charts today this is on the daily Bitcoin chart and obviously right now we’re still continuing that bounce from this important area of support which I
Mentioned on the Channel all the way back down there and that area of support is sitting in between around 37.9k to around 385,000 and so once again as I’ve been saying that is still this significant area of support to pay attention to on The Daily time frame so
If we pull back to that area then once again we could expect support or bounces from that area of support but if we break that area obviously we still have these lower areas of support which we could also bounce out if we first break below this are area but once again the
Main support at the moment is still sitting at around 385,000 which is what we’ve seen recently and of course the bearish Divergence is technically still active here on the daily time frame because this bearish Divergence will only invalidate if we see a bullish Trend reversal in the price or in the
RSI so basically if we start to see the RSI break out into new higher highs or above this descending line of resistance right here basically those would be some invalidation signals to invalidate the bearish Divergence but as of right now we have not yet confirmed any of those invalidation signals which means at
Least for now the bearish Divergence is technically still active and so once again a bearish Divergence usually results in either bearish price action basically a pullback or some choppy sideways price action as the most common outc comes from a bearish Divergence and so once again potentially over the
Weekend we could see a bit of a sideways consolidation of some sort because the ETFs are not trading over the weekend and if we’re looking at this daily Bitcoin chart looking at the dxy obviously at the moment this is still consolidating sideways in the immediate
Short term and so at the moment just in the immediate short term with the dxy looking neutral obviously it’s not having too much of an effect on the price of Bitcoin just in the immediate short term here but as always if the dxy starts flipping more bullish again as
We’ve seen over the last few weeks that is a warning signal that is a bearish signal for Bitcoin and crypto as we pretty much always see when the dxy is bullish and vice versa if we see the dxy dump back to the downside then usually that’s a very bullish signal for bit
Coin and crypto and so as always I’ll keep you updated on what’s Happening Here in the dxy every day so once again make sure you subscribe to stay up to dat but if we’re taking a look at this daily Bitcoin chart what we have now
Seen over the last one day is a daily candle close back above this important previous line of support which was temporarily acting as a bit of short-term resistance and that line right now is sitting at around 40.8k and once again over the last one day we’ve now seen a daily candle close
Above that line which was sitting at around 41.7k which is where we saw that daily candle close and so as I said in my last video here on the channel if we confirm a daily candle close back above that line right there then that basically invalidates the break to the downside
And essentially turns that into a fake out not a break to the downside and so basically in the immediate short term we’re no longer looking overly bearish due to the fact that we’ve now broken back above this important line but once again just in the short term we’re also
Not really looking overly bullish because that bearish Divergence on The Daily time frame is technically still active which means we should not really be expecting a significant amount of bullish momentum and with the dxy basically looking relatively neutral in the short term not really affecting the price of Bitcoin once again it’s most
Likely going to result in some relatively neutral price action for the price of Bitcoin at least in the short term especially over the weekend and then perhaps on Monday when the Bitcoin ETFs begin trading again we can take a look at the inflows and outflows and basically determine the next major move
In the price of Bitcoin once again if we’re seeing even less selling pressure from gray scale then we could actually see more of a recovery next week if those inflows and outflows actually are flipping more bullish which I’ll be sure to cover next week but anyway right now
What the Bitcoin charts are showing on the 8 hour time frame is still a potential hidden bearish Divergence patter with lower highs in the price and higher highs in the RSI and now these higher highs have already confirmed here in the 8h hour Bitcoin RSI but the lower
Highs are not yet fully confirmed here in the price of Bitcoin because for example if the price just continues this bounce to the upside and creates a new higher high in the price then obviously if we have a higher high in the price and higher highs in the RSI there’s no
Divergence at all and so basically what we need to see to confirm this hidden bearish Divergence is basically to confirm that lower high in place in the price action by essentially seeing a bit of a rejection or pullback in the short term basically some red candle closes
Confirming and then once we have that lower high actually put in place here in the price action and we know that yes we have a lower high in place and we’re not in the middle of a recovery or in the middle of a pump to the upside then at
That point once again we can confirm the hidden bearish Divergence which is essentially a bearish trend continuation pattern but once again at least for now this is not really confirmed once again we could still continue that move to the upside which would invalidate the bearish Divergence allog together and
That point of invalidation for the hidden bearish Divergence would obviously be a breakout Above This high right here which is sitting at around 43.3k approximately basically if if we break out above that level and confirm candle closes above 43.3k then that gets rid of any chance of a hidden bearish Divergence forming
And so for the Bitcoin Bulls out there that is the level that we need to break in order to flip much more bullish again in the short term but in the meantime we’re looking relatively neutral at least in the short term here and as for short-term support I would expect
Support in this price range sitting in between around 40 and a half th000 to 41k and as for short-term resistance we’re actually now running into a bit of short-term resistance based on a previous resistance right here and previous support and that price range is sitting in between around 41.7k going up towards around
42.2k here on the 2hour Bitcoin chart but if we end up seeing a confirmed breakout back above 42.2k then in that case the next short-term price Target would be this resistance right here once again sitting closer towards around 43.3k to 43.4k and if we break out above that
Level right there that is where we can can flip much more bullish again in the short term and obviously over the last few days we have continued to see this short-term bullish Divergence continue to play out which I’ve been talking about basically every day since all the
Way back down here but obviously a bullish Divergence does not always result in a bullish Trend reversal often times we just usually see these bullish divergences play out in either choppy sideways press action or a slight bullish relief before we could potentially continue the trend later on
And so that is why I do not solely rely on a bullish Divergence to confirm a bullish Trend reversal obviously we need to see other bullish reversal signals in order to flip more bullish again on the trend and obviously another one of those bullish Trend reversal signals would
Simply be a breakout above key resistance which I just mentioned but due to the fact that we have seen a further bullish relief over the last few days due to this bullish Divergence playing out of course the RSI on the 2hour time frame briefly entered into overbought territories just over the
Last one day or so and so technically speaking this means at least in the imminent short term we’ve gone too far to the upside too quickly and we need some time to cool off and already over the last one day or so we have began that short-term cool off by seeing a bit
Of a sideways consolidation and a very slight pullback from the local high and already that is helping to reset the RSI back to the downside which once again is what I talked about in my last video but as I also mentioned in my last video if
We’re taking a look at the last few times where the 2hour Bitcoin RSI entered into overbought territories both of those examples right here basically happened around a local high in the price of Bitcoin just before we actually saw more of a pullback later on over the
Next few days or so and so once again it’s worth keeping in mind that at the moment on the 2hour time frame we’re relatively overbought at the moment and so at the very least over the weekend once again I do expect most likely some choppy sideways press action and then
Perhaps on Monday depending on selling pressure and buying pressure from the ETFs we could see the next major move and if you want to trade these moves in the price of Bitcoin or any other crypto so whether we’re bullish or bearish you can use long positions or short
Positions to make money no matter what direction we’re going and personally I take those trades over on bybit so I’ll make sure to leave a link to bybit 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 buyit account if you simply deposit on that 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 comments and if you use that link and deposit $100 worth of crypto and to make one trade over on
Bitflex then you can get 10 usdt completely for free and there’s also new deposit bonuses happening over at bitflex 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 if you want to get those extra bonuses but anyway taking a quick look at the Bitcoin liquidation heat map and over the last one day we have officially taken out all of that liquidity to the upside which I’ve been
Talking about just recently on the channel obviously all the way back down here when the price was sitting at around 40,000 I said that we do have some short-term liquidity at around 40.5k which we’re likely going to hit and around that area I also said we do
Have some more liquidity a lot more liquidity sitting closer towards around 42,000 and that’s pretty much EX exactly where the price of Bitcoin went to in the short term before seeing a very slight pullback from around 42k and so obviously now that we’ve taken out a lot
Of that liquidity to the upside we don’t really have a lot of liquidity left to the upside in the short term and instead we now have new liquidity building up to the downside even in the short term and a lot of that new downside liquidity is
Starting at around 395,000 and we have a lot of liquidity closer towards around 39.3k and so basically in between 39.3k approximately to 395,000 that is a potential price Target in the short term for the price if we see a further rejection from this resistance because basically these areas of liquidity are
Essentially acting as magnets for the price of Bitcoin they’re attracting the price towards those areas as we’ve just seen with a lot of that liquidity that was sitting at around 42,000 and so once again we do have a lot of liquidity now building up at around 39,000 to 395,000
And if we zooming out to a much larger time frame here in the Bitcoin liquidation heat map we can see a massive level of liquidity still sitting at around 34,000 and above that we also have a major level of liquidity sitting at around 36.7k so keep that in mind we do
Currently have a lot of liquidity to the downside and not really a lot to the upside but anyway getting into the ethereum part of this video this is on the daily time frame and right now the bearish Divergence is technically still active which means once again in the
Short term we should not not really be expecting a significant amount of bullish momentum and instead we’re most likely going to see either some choppy sideways press action or a bit of a pullback in the short term as the most common outcomes from a bearish Divergence and if we’re taking a quick
Look at the daily ethereum macd just recently we’ve actually seen less bearish momentum here in the macd and so just to keep that in mind at the moment we do not have as much bearish momentum compared to around a week ago but obviously at the moment overall we’re still currently looking more bearish
Than bullish if you’re simply looking at the daily ethereum price oscillators but obviously we still have that major area of support sitting in between around 2.1k to 2150 that we need to pay attention to and also we have this area of support on the 4-Hour time frame
Which I’ve been talking about since all the way back here and that area of support is sitting in between around 2170 to around 2.2k and obviously since all the way back then when I first talked about this area of support we’ve seen perfect support support exactly in that price
Range and in fact right now we are potentially playing out a fractal basically repeating price action compared to what we saw back here and now obviously it’s not a 100% perfect fractal but if we’re simply looking at the rough price action obviously we saw two major bounces from this exact area
Of support back here in the price of eth and then after that obviously we saw a bounce from that area of support and then a higher low form and that’s very similar to what we have seen just here obviously two major bounces from that area of support and then a slight higher
Low right here and now we’re bouncing further to the upside while the RSI is also trending back to the upside very similar to what we saw back here and now once again it’s not a 100% perfect copy to this previous price action but it’s a very similar price structure also in the
RSI looking very similar and so once again at the moment because we’re in the weekend and we have reduced volumes and the ETFs are not trading I do expect relatively neutral price action pretty much boring price action over the weekend and then once again next week as
Soon as Monday comes around we could potentially see the next major move in the crypto market and if we no longer have that massive grayscale selling pressure dragging down Bitcoin then that could be a relief for Bitcoin which can also be a relief for the overall crypto
Market which means the price of e could potentially continue to play out that previous fractal if that selling pressure alleviates from grayscale and so essentially at the moment we have not yet fully confirmed a trend reversal in the short term so technically we could still remain within this short-term
Bearish Trend which I’ve been talking about since all the way back up here but we do have some early signs of a possible Trend reversal here in the short term just talking about the shortterm bullish and bearish Trends and obviously here on the 2hour time frame this short-term bullish Divergence that
I talked about all the way back here a few days ago is still technically active because we have not yet confirmed any new lower lows in the price or in the RSI and so once again as I’ve been saying since all the way back here this means we’re most likely going to see
Either some copy sideways price action or potentially a slight bullish relief as the most likely outcomes from this bullish Divergence and basically there only invalidate if we see a break to the downside in the price or in the RSI into lower lows or for example if we break
Below this ascending line of support in the RSI then that would be an invalidation signal for this bullish Divergence but at least for now we have not yet seen those invalidation signals which means the short-term bullish Divergence is technically still active here just on the 2hour time frame and if
We’re taking a quick look at the price of salana on the 88h hour time frame we’re still hanging around this area of resistance which is sitting at roughly around $92 but if we see a further breakout above $92 then in that case the next resistance is sitting at around $98 to
$99 and we also have more resistance at around $102.50 and above that area we also have more resistance up towards around 108 to $109 and as for short-term support we do have support in this price range sitting in between around 8 8350 to $85.50 and below that price range we
Have this area of support in between around 77 to $78 and The 8 Hour salana RSI is continuing that bounce to the upside resetting out of those oversold territories that we saw a few days ago because once again when we see the RSI enter into oversold territories that
Means we have limited room to the downside at least in the short term and we do to see a reset in the RSI which usually plays out in the form of either sideways consolidation or a slight bullish relief or bounce in the price but at least for now even though we’re
Still bouncing back to the upside in the price of salana in the short term to reset the RSI technically speaking we have not yet invalidated the bearish trend so we have not yet confirmed a bullish Trend reversal because at least for now if you’re simply looking at the overall price structure here we’re
Clearly still technically forming lower highs and lower lows in the price which is technically a short-term bearish Trend and so in order to flip more bullish again on the trend we need to see some higher lows and higher highs begin to form and obviously in that case
We can flip more bullish but at least for now we have not yet seen that happen and so for all we know this could simply turn out to be just a bounce within the short-term bearish Trend similar to what we saw previously but no matter if the price is bullish bearish or simply
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 long positions and short positions and the
Video in the bottom left shows you how you can easily profit in choppy sideways price 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
10 Comments
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Set design transcends being a mere backdrop; it's a character enriching the narrative's essence.🧡
Corn dog coin will moon soon diamond hands baby lambo sooon 🤩
Josh is gonna pull out the Bollinger bands right away…😏
<- still watching daily Josh. Thx Mr. ✌
Thanks for updates. Suggestion: could you separate short term and long term analysis? I mean, could you talk about one first then the other instead of at the same time? Again, thanks very much for what you do.
Got a ways to go for that bearish divergence to be over, next 3 months?
True, not a time to panic, just keep investing in good projects like Crust Network
My $CRU bag is sitting pretty comfy. Decentralized storage, DePIN, Data availability, is not a narrative you don't want to fade!
Load up your bags now let's hit the moon together
I think we will see BTC to 36500 and ETH to 2050 this week, its bearish
How can I get a reliable information about crypto