BITCOIN: TIME IS RUNNING OUT (Last Chance)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 2:26
Ethereum Technical Analysis! 9:55
Solana Technical Analysis! 11:33
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– Crypto World –
Welcome back to the good Channel everyone my name is Josh and right now we are closing in on the final chance for Bitcoin to break out and activate this pattern while the price is also potentially repeating history but in Reverse so I’ll be talking about all of
That and more later in the video so definitely watch to the end first of all taking a quick look at some Bitcoin ETF news today because just yesterday Grace girl sent another around 4,400 Bitcoin worth close to $200 million us over towards coinbase dump on the market but if you’ve been watching
Any of my recent videos here on the channel over the last few days or over the last few weeks you’ll know that this is actually a very small amount of Bitcoin relatively speaking that gry scale is dumping on the market just for one day because first of all around two
Weeks ago when the Bitcoin ETFs began trading gr scale was selling closer towards 15 to 20,000 Bitcoin each weekday and then around one week ago they started selling less and less Bitcoin and a few days ago they were only selling closer to 10,000 Bitcoin each day and now they’re selling a lot
Less and obviously that is good news for the price of Bitcoin now that grce scale is selling less of course that means less selling pressure for Bitcoin which is bullish for Bitcoin because this amount right here around 4,000 Bitcoin sold on the market in one day that can
Easily be bought up by multiple other spot Bitcoin ETFs actually buying up that Bitcoin and so once again as I’ve said recently on the channel for as long as gry scale is selling less than 10,000 Bitcoin each day honestly it’s not too bad and it shouldn’t have much of an
Effect on the price of Bitcoin for as long as they’re selling around 5 to 10,000 of Bitcoin each day or less and as of right now the grayscale Bitcoin trust is still holding over 480,000 Bitcoin worth over 20 billion us but once again the outflows are a lot less
Compared to previously which is good news for Bitcoin and of course black rock is still holding over 70,000 Bitcoin in their ey shares Bitcoin trust in their spot Bitcoin ETF and so that’s roughly around $3 billion worth of bitcoin but of course over the weekend the spot Bitcoin ETFs are not trading
Because the US Stock Market is closed over the weekend and so that simply means we have no action from the spot Bitcoin ETFs over the weekend no selling or buying from the ETFs because they’re simply not trading on the weekend and so due to that honestly we could see some
Relatively boring price action over the weekend probably nothing too major in either direction simply due to the fact that we have lower trading volumes on weekends and once again the spot Bitcoin ETFs are not trading on weekends but anyway getting into the Bitcoin charts today looking at the daily bitco chart
And as of right now the RSI is still getting very close to a potential breakout Above This descending line of resistance but at least as of right now considering the RSI has not yet confirmed a breakouts above that line of resistance technically speaking the bearish Divergence on The Daily Bitcoin
Chart is still currently active and so this simply means we should not necessarily expect a massive amount of bullish momentum at least in the short term for the price of Bitcoin relative to the Daily time frame but once again if we see a breakout here in the daily
Bitcoin RSI above the descending line of resistance that will be a signal to help confirm the invalidation of the bearish Divergence and as of right now the daily Bitcoin macd is still currently looking more bullish than bearish but with that being said it’s not showing a lot of bullish momentum compared to previously
And if we’re taking a quick look at the dxy also known as the US dollar index over the last one day after the recent dip in the dxy we’ve actually seen another short-term move back to the upside and so once again with the dxy moving up technically speaking that is a
Bearish signal for Bitcoin because as we can clearly see on this chart when the dxy is bullish when it’s heading to the upside that is almost always bearish for the price of Bitcoin and so as always I’ll keep you up to date on what’s Happening Here in the dxy and many other
Important Bitcoin charts so to stay up to date make sure you subscribe to this Channel with notifications turned on so that you don’t miss out on any of these important update videos and if we’re taking a look at the 6-hour Bitcoin chart as of right now the RSI once again
As I’ve said recently on the channel has already reset back down towards more neutral levels and so basically even though the price is sitting only just underneath the local highs of course the RSI now technically has a lot more room to the upside due to the recent reset the short-term pullback and sideways
Consolidation but if we’re zooming further into the short term looking at the 2hour Bitcoin chart as of right now the price of Bitcoin is still basically chopping around sideways in this sideways price range in between support and resistance and obviously if you’ve been watching any of my recent videos
Over the last one week or so you’ll know that I’ve been saying we’re most likely going to see this type of price action since all the way back here because since the price was all the way back here I said we’re looking relatively neutral in the short term we don’t
Currently have a lot of momentum and so for the time being we’re basically chopping around sideways and I continue to expect this type of price action at least over the weekend and that’s mainly due to the fact that once again at the moment we’re simply lacking momentum and
Also like I said earlier on the weekend we have lower trading volumes and those sport Bitcoin ETFs are not trading on the weekend and so due to all of that once again we could end up seeing a little bit more choppy sideways press action in this sideways press range over
The weekend but believe it or not you can actually make a lot of easy profits from choppy sideways press action just like this and if you want to know how to do that then stick around to the end of this video to find out more and so most
Likely at some point next week we’re going to see a break of one of those levels either support or resistance and at that point we can set up the next prize Target for potentially the next trade and as Traders it does not matter what direction the price takes whether
We’re bullish or bearish we can use long positions and short positions to profit in either scenario so for example instead of trying to guess what direction the price is going to break beforehand we can simply wait for that signal wait for when we confirm a break above resistance or below support and
Then at that point we can enter a short position below support towards the bearish price Target or a long position just above the break above resistance towards the bullish price Target and if you’re wondering where I take those trades in the price of Bitcoin or any other crypto 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 b 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 bit or if you cannot kyc on bibit 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 make one trade over on bitflex then you can get 10 usdt completely for free along with other deposit bonuses 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 ready to go on one of those exchanges using those links down below this video If you want to get those extra bonuses but anyway as I was saying earlier we do not need to know the direction before the breakout
We just need to wait to confirm one of those signals and as I’ve mentioned in recent videos here on the channel if we confirm a breakout above this area of resistance which the top side of this resistance is sitting at around 43.6 to 43.7k then in that case if we break out
Sometime soon potentially early next week then we could see a breakout from this inverse Head and Shoulders pattern setting up a bullish price Target at around 48.8k but time is running out for this pattern right here basically we need to see a breakout at some point sometime
Soon over the next few days because otherwise if we take too long to break out here for example if we take over a week to actually break out Above This resistance then this inverse H shers pattern would not really be valid anymore because essentially the shoulders need to be roughly around the
Same size so if we take way too long to break out from this pattern obviously there’s no invers head shest pattern but on the other hand if we actually continue to see rejections from this resistance and we end up seeing a break below this area of support and by the
Way the low end of this area of support is sitting at around 41.6 to 41.7k then then in that case looking at the Bitcoin liquidation heat map I’d be targeting around 39.7 to 39.8k as an initial downside price Target based on a lot of liquidity sitting at that level
And just below that level we also have some more liquidity down towards around 39.4k and so basically in between around 395,000 to 40K right around here is where I’d be targeting in the bearish scenario if we confirm a break below this area of support and so this is not
Me telling you that the price is going to go either up or down this is me giving you the bullish price Target and the bearish price Target so the moment we break either resistance or support no matter the scenario we can make money in either direction because we have the
Price targets and the entries so essentially we can formulate a plan a trading strategy based on either scenario no matter what direction we play out we can make money but once again over the rest of this weekend I do continue to expect the price to basically remain within this choppy
Sideways price range and remember you can make money from that type of price action if you stick around to the end of this video to find out more and just quickly while I’m still on this 2hour Bitcoin chart taking a look at that hidden bullish Divergence I did actually
Get some comments on my last video talking about this being a bearish Divergence and so I just want to make it extra clear in this video that bearish divergences only talk about the highs between the price and the RSI and not the lows and so for example a regular
Bearish Divergence is this right here with higher highs in the price and lower highs in the RSI and a hidden bearish Divergence would be lower highs in the price and higher highs in the RSI so once again bearish divergences are only ever dealing with the highs whereas bullish divergences are dealing with the
Lows so for example a regular bullish Divergence is lower lows in the price and higher lows in the RSI but a hidden bullish Divergence is higher lows in the price and lower lows in the RSI so once again if we’re looking at the lows think bullish and if we’re looking at the
Highs think bearish when we’re talking about divergences but anyway getting into the ethereum part of this video this is on the daily e to US dollar chart and right now this bearish Divergence on The Daily time frame is technically still active and so once again this means we should not really be
Expecting a significant amount of bullish momentum at least in the short term relative to the Daily time frame and if we’re taking a look at the daily ethereum macd as of right now this is showing very low momentum so once again especially over the weekend with the reduced trading volumes I would not
Really be expecting a massive move to either direction and instead we’re most likely going to see some choppy sideways price action at least over this weekend and if we’re zooming into the shorter term looking at the 4-Hour eth to us doll chart right now like I said in my
Last video the price of eth is still trading within this descending parallel Channel and right now this line of support is currently sitting at around 2,220 and this line of resistance is currently sitting at around 2340 and as for horizontal support and resistance we do have some horizontal
Support right here at around 2250 and more horizontal support down towards around 2 .2k and as for horizontal resistance we do have some resistance at this local high sitting at around 2380 to 2390 and above that we have more resistance closer towards 22,000 and as for the 4H hour ethereum RSI right now
This is looking relatively neutral because we have already reset back out of those overbought territories and we’re basically chopping around sideways in the middle of the RSI and so once again just in the short term is in potentially over the next 1 to 2 days I continue to expect relatively mild price
Action in the short term most likely some choppy sideways price action and if we’re taking a quick look at the price of salana as of right now we are potentially failing the formation phase for that possible inverse Head and Shoulders pattern because as you can see
Here on the 8 Hour salana chart of course we already have the left shoulder and head formed but right now we are possibly in the middle of forming the right shoulder but basically we need to see a quick bounce back to the upside sometime soon over the next few days up
Towards this neckline and that line right now is sitting at around $106 and then in order to confirm that pattern in order to activate that pattern we need to see a confirmed breakout above that line and in that scenario if we see a quick bounce sometime soon over the next
Few days and then break out above that resistance then that would set up a bullish price target for the inverse Head and Shoulders pattern which is sitting at around $133 and so for example from the point of the breakout to that price Target that’s a possible 25% move to the upside
If we first confirm the pattern and the breakout but once again just in the immediate short term we’re looking relatively neutral at the moment at least over this weekend especially with the RSI now reset and essentially chopping around sideways in the middle of the indicator and as for support and
Resistance for the price where we could most likely bounce or reject from first of all we have this level of support at around $92 and below that we have the golden pocket area of support in between around $835 to $85.50 and as for short-term resistance once again we have that line of
Resistance close to $106 just above that we also have some resistance at around $18 to $109 and more resistance closer towards around $116 based on that previous high but overall just in the imminent short term once again we’re looking relatively neutral at the moment but believe it or
Not you can make a lot of easy profit in choppy sideways price action just like this and if you want to know how to do that then check out 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 suy he can profit if the price is bullish or bearish using long positions and short positions 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
13 Comments
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First
Thanks Captain 🤙
$IOTX 👉 L1, L2 Infrastructure 🟢
Meticulous craftsmanship on display; each frame a canvas painted with meticulous attention.💝
Not first but I maid it
How do I go about crypto market , am still a newbie on investments trading and how can I make a profit
Until the dxy reached the top he then starts saying oh it’s bearish which is very obvious :))
🍀thank you josh
DOGE ⏰⛽🚀🌕⛽🚀🪐⛽🚀🌟
To soon BTC ain't moving up ↘️📉
C H C…….with BULL TRAP, rdy to go down with NASDAQ………R E D IS COMING!! NO BODY SEE THAT?
Thanks! Your video calms me down everyday I watch it when the market is pumping! I'm going with your insights. It makes the most sense with where we are at in the cycle. The only thing that would make me think this cycle could be slightly different is the overall increased adoption of crypto since 2019 and all the hype with the BTC/ETH ETF speculation. Could the market stay held up this cycle by the anticipation of ETFs and the overall awareness that a bull run is coming? The surge is speculated to possibly be the beginning of a massive new uptrend, making it a crucial time for investors to pay attention, I've personally benefited from following Boston Weber trading tactics, amassing 23 bitcoins in a short four weeks period, which speaks volumes about his expertise….