BITCOIN: This Could Change EVERYTHING (Bitcoin ETF)!! Bitcoin News Today & Ethereum Price Prediction
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Timestamps:
Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 3:07
Ethereum Technical Analysis! 11:21
Solana Technical Analysis! 14:20
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– Crypto World –
Welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin is retesting a critical area of support on the chart as the Bitcoin price and RSI are still currently diverging and on top of that the Bitcoin ETFs begin trading again today as black
Rock is buying more and more Bitcoin while gry scull is also selling Bitcoin and on top of that ethereum is still potentially repeating history getting ready for the next major move which I’ll talk more about later in the video so definitely watch to the end first of all getting into some Bitcoin
ETF news today because today Black Rock is now holding over 52,000 Bitcoin worth over $2.18 billion us in their spot Bitcoin ETF and we can see this on black Rock’s official website once again they’re currently holding 52025 Bitcoin approximately worth over 2.18 billion and so if you compare these
Newly updated numbers compared to what they had previously on on their last trading day which was on Friday they previously had just under 50,000 Bitcoin on their last trading day in their Bitcoin ETF and so basically within the last trading day Black Rock has accumulated over 2,000 new Bitcoin for
Their Bitcoin ETF worth roughly around hundred million and so obviously with black rock buying this is adding buying pressure to bitcoin helping the price of Bitcoin in the short term but one of the other major players in the Bitcoin ETF space is of course grayscale which has
Been one of the major net sellers of Bitcoin and now at the time of recording this video it’s currently just before the US Stock Market opens which means as of right now at the time of recording this video we do not currently know the exact amount of Bitcoin that Grace scale
Is going to sell today but it’s very likely that gry scale is going to sell some amount of Bitcoin whether that’s 5,000 Bitcoin or 20,000 Bitcoin we don’t currently know just yet but as always I’ll be sure to keep you updated in real time over on my Twitter so if you want
Those extra real time updates throughout the day make sure to follow me over on my Twitter link Down Below in the description down below and in the pinned comment and basically if we end up seeing around 5,000 Bitcoin worth of selling pressure from grecale or 10,000 Bitcoin then honestly that shouldn’t
Really be too bad because that’s actually less than what they have normally been selling but instead if we end up seeing 15 to 20,000 Bitcoin exit the grayscale Bitcoin trust just today then obviously that could potentially cause a lot more short-term selling pressure and so basically depending on
How much Bitcoin Grace go actually dumps on the market today once again that could potentially cause a lot more selling pressure if they sell closer towards 15 to 20,000 Bitcoin but like I just said if they sell around 10,000 Bitcoin or less then a lot of that Bitcoin can actually be absorbed by
Other Bitcoin ETFs which can support the price of Bitcoin and potentially lead to a further recovery but either way gray scale is still currently holding over 500,000 Bitcoin worth over 21 billion us and so obviously they can still potenti potentially cause a lot more selling pressure depending on how many outflows
Are coming out every day from the grayscale Bitcoin trust but anyway getting into the Bitcoin charts today looking at the daily time frame and right now we’re still continuing that perfect Bounce from this area of support which I’ve been talking about for a while now on the channel and that area
Of support is still sitting in between around 37.9k to around 385,000 but even though we’re currently bouncing from the area of support at least as of right now this bearish Divergence is technically still active because we have not yet confirmed a reversal in the RSI or in
The price with higher lows or higher Highs but basically if we end up seeing a breakout in the RSI Above This descending line of resistance then that could be an invalidation signal for the bearish Divergence and also right now we are currently seeing a bullish cross
Form here in the daily Bitcoin macd but as of right now this is not yet confirmed we still need to confirm that potential bullish cross with at least a daily candle close and so basically I’ll start to flip more bullish again on the trend on The Daily time frame if we
Start to see a breakout in the RSI Above This descending line of resistance and ideally into new higher lows and higher highs and obviously at the same time as that playing out we will most likely see that bullish cross confirm here in the daily Bitcoin macd so if we end up
Seeing those extra signals then I’ll start to flip more bullish again in terms of the trend here in the parasa Bitcoin on The Daily time frame but obviously over the last few weeks we have seen a move to the upside in the dxy which has been bearish for Bitcoin
And crypto because as always when the dxy is bullish that is almost always bearish for the price of Bitcoin and really for the overall crypto market and vice versa if the dxy is bearish that is almost always bullish for the price of Bitcoin and crypto and just recently in
The imminent short term over the last few days over the last one week or so we’ve seen the dxy basically trade sideways we haven’t really seen anything too much in the dxy over the last one week and so essentially in the imminent short as the dxy is currently trading
Sideways it’s not really having much of an effect on the price of Bitcoin but obviously if we continue to see more of a bullish move later on or a bearish move later on in the dxy then that can potentially have more of an influence on the price of Bitcoin but right now we’re
Just waiting to see that happen and of course as I’ve also talked about over the last few days we have already confirmed a breakout back above this line right here which was sitting at around 40.8k and we’ve already seen multiple daily candle closes back up above that line and so in case you’re
New to this channel what this means is essentially it’s invalidating that break to the downside that we previously saw around a week ago and so right now we’re looking relatively neutral we’re not looking overly bullish or overly bearish because once again at the moment the bearish Divergence is technically still
Active but we’re also bouncing from Key support and potentially about to see a bullish cross here in the daily Bitcoin macd and so due to those conflicting signals between those bullish and bearish signals right now of course overall it’s it’s basically balancing out to look relatively neutral for the
Price of Bitcoin especially while the dxy is trading sideways but like I said earlier if we see more signals like for example a breakout in the RSI and that bullish cross actually confirming in the macd then in that case we could potentially start to flip more bullish
And see a further recovery in the price of Bitcoin especially if the dxy has a pullback but anyway zooming into the shorter term looking at the 8 hour time frame and right now the price of Bitcoin and the Bitcoin RSI are still currently diverging because at least as of right
Now the 8 Hour Bitcoin RSI has already confirmed higher highs while the price of Bitcoin in The 8 Hour candle closes is technically forming lower Highs at least for now and now with the price of Bitcoin still hanging around this local high right here we haven’t really fully
Cemented that lower high in place in the price action because as of right now we have not really seen any strong rejection or pullback from this local high to actually cmend that lower high in place for us to be confident that the lower high is actually in place on the
Chart and so considering considering the fact that we have not really confirmed that lower height in place we have not actually confirmed this potential hidden bearish Divergence because as I’ve explained recently on the channel obviously if we don’t confirm that lower high in place and instead we just
Continue drifting to the upside if we simply break out Above This previous High which is sitting at around 43 half thousand approximately then that would invalidate any chance of a hidden bearish Divergence forming at all and so basically that would be the point where we could flip much more bullish again in
The short term once we see confirmed breakout back above around 435,000 but until then once again I’m relatively neutral on the price of Bitcoin in the short term at the moment we’re simply lacking momentum and if we’re zooming further into the short term looking at the 2hour time frame right now the price
Of Bitcoin is actually retesting this important area on the chart which is sitting in between around 41.7k going up towards around 42.2k and obviously as you can see here on the chart this has provided previous support and resistance for the price of Bitcoin multiple times and so this is
Definitely an important area on the chart for the Bulls to hold above because basically if we hold above that area after seeing the recent breakout then that could be a successful retest which would be a bullish signal further confirming the breakout to the upside and in that case if we see a further
Bounce from this area then once again the next resistance to watch out for would be sitting at around these highs sitting closer towards around 43.4k to 43.5k and as for short-term support once again I would expect support in this price range which is exactly what we’ve seen just recently over the last few
Days and it would only start to flip much more bearish again in the short term on the price of Bitcoin if we confirm a break back below around 41.7k and so basically while the price of Bitcoin is sitting in between around 41.7k and around 435,000 while we’re in
That price range right there once again I’m relatively neutral on the price of Bitcoin and those are the points where i’ flip much more bullish or bearish once again if we break that support I’d flip more bearish again in the short term expecting a move down towards these
Lows sitting closer towards 40,000 but if we break out back above around 435,000 with confirmation then I would expect a further recovery up towards the local highs and as Traders it does not matter what direction the price ends up taking because obviously if we’re bullish or bearish we can make money in
Either scenario 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 bybit in the description down below and in theend comments and if you use that link to make a buyit account and 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 bybit but you
Don’t need kyc for bitflex and so I’ll 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
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To get those extra bonuses but anyway taking a quick look at the Bitcoin liquidation hit map looking at the last one week worth of price action we can still see a lot of liquidity for the price of Bitcoin sitting at around 395,000 and so basically if we break back below
Around 41.6 to 41.7k then I would expect a move down towards around 395,000 or potentially down towards around 39.3k because once again we have a lot of liquidity for the price of Bitcoin down towards that area and as for liquidity levels to the upside as of
Right now we don’t really have a lot of liquidity to the upside we do have a small amount at around 42.8k but nothing too much and in case you’re new to this Channel and you have no idea what this means basically the Bitcoin price is usually attracted towards these areas of liquidity
Basically we usually end up seeing the price of Bitcoin move towards these liquidation zones and so that’s why I said earlier if we first see a confirmed break back below around 41.6 to 41.7k then in that case I would expect a drop down towards around 395,000 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 as of right now and so like I’ve been saying since all the way back up here this means we do to
See either a pullback in the price or at the very least some choppy sideways price action as the most likely outcomes from this bearish Divergence but as I’ve been saying more recently on the channel over the last few days we have seen less and less bearish momentum here in the
Daily ethereum macd and so basically this is a relatively neutral signal for the price telling us that at the moment we don’t really have a lot of momentum in the imminent short term which is why we’re seeing a lot of choppy sideways press action here on the daily time
Frame and as for support we have this massive area of support which was previous resistance sitting in between around 2.1k to 2150 and here on the 4our time frame we also have this area of support sitting in between around 2170 to 2.2k and obviously as you can see here
We’ve seen some perfect bounces from this exact area of support and in fact right now we’re still potentially repeating history playing out a similar fractal right now compared to what we saw back here and now obviously as you can see it’s not a 100% perfect copy but
It is very similar price structure and at the same time is seeing this similar price structure obviously right now the RSI is also trending back to the upside on the 4-Hour time frame very similar to what we saw back here and so for as long
As the price of eth now forms a higher low in the price similar to what we saw back here then obviously we could potentially continue on with more of a bullish relief in the short term over the coming days if this fractal continues to play out and the point of
Invalidation for this fractal right here would be if the price pulls back down towards this area of support and more importantly if we break back below that area of support So breaking back below around 2170 would obviously invalidate the fractal and would be a short-term bearish signal but once again overall
We’re looking relatively neutral at the moment because we do currently have this short-term bullish fractal playing out but on the daily time frame once again that bearish Divergence is technically still active and at the same time the D is telling us we’re not seeing a lot of momentum really to either direction
Which once again is relatively neutral in the short term and if we zooming further into the shortterm looking at the 2hour time frame obviously as I’ve been talking about basically every day since all the way back down here this shortterm bullish Divergence on the 2hour chart is technically still active
And playing out but if we end up seeing a new break to the downside in the price or in the RSI below any of these previous lows basically forming new lower lows in the price or in the RSI then that can invalidate the bullish Divergence and so once again while the
Bullish Divergence is still playing out we should be expecting either a slight bullish relief or most likely some choppy sideways press action at least in the short term but if that bullish Divergence invalidates then we could potentially see a little bit more bearish momentum especially if we break
This area of support that I mentioned earlier but anyway taking a quick look at the price of salana on the 8 hour time frame and right now the price is struggling around this level of resistance which is sitting at around $98 to $99 but if we end up seeing a further
Rejection from around $100 give or take then that could potentially form an inverse Head and Shoulders pattern which I talked about in my last video because at least for now we’re potentially forming a left shoulder and a head and all we need to see is a right shoulder
With some sort of rejection and then a bounce back up in order to form an inverse headed shoulders pattern and if we end up seeing that happening basically if we see that rejection and then a bounce and then a breakout back above around $103 then that would be very bullish for
The price and set up a bullish price Target but once again we still need to see a right shotter form and then a confirmed breakout above that resistance sitting closer towards $103 and as for short-term support we have support right here at around 91 to $92 and below that
We have more support right down here at around $83 to $85 approximately and in terms of the trend just in the shorter term technically speaking we have not yet confirmed a bullish Trend reversal because at least as of right now if we’re looking at the highs and the lows
We’re still in a lower high lower low price structure but believe it or not you can make money no matter what direction the price goes whether we are 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 Longs and shorts and the video in the bottom left show you how you can easily profit from choppy sideways price action but anyway that’s everything that I have to say for
Day I really hope you enjoyed and I’ll see you all in the next video
9 Comments
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Doge ⏰⛽🚀🌕
You are crypto GOAT bro
You’re always on bro! Respect the hustle
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months sometimes less and now they are multi millionaires. I pray that anyone who reads this will be successful in life.
Hi Josh, thanks for another update. What are your thoughts on ETH/BTC? 👀
This made my day!
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