BITCOIN WARNING SIGNAL FLASHING NOW!! Bitcoin News Today, Chainlink & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 2:13
Ethereum Technical Analysis! 11:27
Chainlink Technical Analysis! 14:16
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– Crypto World –
Welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin is getting very close to potentially a major breakout while the price is now running into critical short-term resistance and on top of that ethereum is now attempting a breakout to the upside while chain link is already
Breaking out and getting very close to my technical price Target 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 today over the last couple of hours
We’ve seen gray scale send another around 2,630 Bitcoin worth over 110 million over towards coinbase to dump on the market but as I also mentioned in this tweet right here Grace girl’s selling pressure keeps getting smaller because in case you’re new to all of this in case you’re new to this channel
Basically a few weeks ago gray scale was selling closer towards 10 to 20,000 Bitcoin each weekday and then more recently towards the end of last week they were selling around 5 to1 ,000 and once again just today they’ve only sold around 2,600 Bitcoin which is a lot less
Than normal and so even though gray scal is still holding around 480,000 Bitcoin worth over2 billion US once again their daily outflows are simply not as big as what they once were and so this simply means less Bitcoin from grayscale is being dumped on the market which is good
News for Bitcoin obviously anytime where we have less selling pressure that is bullish that is good news because basically if gray SC is selling smaller amounts like this relatively speaking compared to what they previously were selling if they’re selling these smaller amounts like 2,600 Bitcoin that can
Easily be bought up by other players like black rock for example and as of right now in terms of the Black Rock Spot Bitcoin ETF we still only have the numbers from Friday and so we’re still waiting of course for Monday’s numbers to actually come in but as of Friday
Just last week Black Rock was holding around 725,000 Bitcoin worth around $3.1 billion us in their spot Bitcoin each ETF and so right now we’re potentially at the point where Black Rock is now beginning to buy more Bitcoin than what grayscale is actually dumping and once
Again this is just black rock alone of course there’s many other spot Bitcoin ETFs also buying Bitcoin but anyway getting into the Bitcoin charts this is on the daily Bitcoin chart and technically speaking the bearish Divergence on The Daily time frame is still active but we’re getting very close to potentially invalidating the
Bearish Divergence and this is simply because the RSI on The Daily time frame is getting very close to breaking out Above This Des setting line of resistance and so if we simply see that signal confirm in the RSI that breakout above this line then once again that
Would be a bullish signal helping to invalidate the bearish Divergence and as for the momentum shown in the daily Bitcoin macd as of right now this is still looking more bullish than bearish but with that being said we’re not currently seeing a lot of bullish momentum we’re just seeing some bullish
Momentum and now what’s interesting is if we’re taking a look at the dxy or the US dollar index of course just over the last couple of days and just today this is actually continuing to spike to the upside which is one potential warning signal that we need to pay attention to
Because of course as you can see here the dxy is a very accurate indicator obviously it’s not 100% accurate for example it’s possible the dxy can go to the upside at the same time as the price going to the upside that is a possibility but more often than not if
The dxy is bullish that is usually bearish for Bitcoin and vice versa if the dxy is bearish that is usually bullish for Bitcoin and so once again with the dxy spiking to the upside once more of course this is a bearish signal a potential warning signal for Bitcoin
And so at the moment considering the dxy is spiking to the upside and considering we have not yet invalidated the bearish Divergence on The Daily Bitcoin chart for those reasons I would not currently be flipping overly bullish again because once again in order to flip much more
Bullish again on the Press of Bitcoin on this daily time frame we ideally need to invalidate that bearish Divergence with a breakout in the RSI and ideally also in order to flip much more bullish again I would like to see a reversal or another drop in the dxy in order to be
More confident in bullish price action for the price of Bitcoin and so in the meantime I’d be quite skeptical of bullish moves in the price of Bitcoin at least for now while we’re still seeing these potential warning signals but anyway zooming into the shorter term looking at the 2hour Bitcoin chart and
Just over the last 1 to two days we’ve seen another drop to the downside and pretty much a perfect Bounce from this area of support that I’ve been talking about and then bounce up towards this area of resistance and right now we are currently rejecting at the time of
Recording this video from that area of resistance and in case you’re new to this channel this area of support is sitting in between around 41.7k to 42.2k and this area of resistance is sitting in between around 43.3k going up towards around 43.7k and so as always resistance is
Where we’re most likely going to reject from and support is where the price is most likely going to bounce from and I’ve been saying pretty much every day here on the channel since all the way back here that I would be expecting mostly choppy sideways price action in
The short term which so far has been playing out exactly as expected and basically I would only start to flip much more bullish or much more bearish again on the price of Bitcoin once we finally confirm a break out of this sideways price range so either below this support or above this resistance
But obviously until then we’re still just chopping around in a sideways price range so until we see a break of one of those areas we’re still looking relatively neutral in the short term lacking momentum and as I’ve explained in recent videos here on the channel if
We see a confirmed break below this area of support then in that case I would expect a drop down towards this area right here basically in between around 39 a half th000 to 40,000 and that’s mainly due to the fact that we do actually have a lot of liquidity around
That area down there and also based on previous support and resistance but on the other hand if we continue bouncing at this area of support and instead we see a breakout above this area of resistance then in that case that could set up a price Target at around
48.8k based on this massive inverse Head and Shoulders pattern here on the 8 Hour Bitcoin chart but it’s important to understand that this massive bullish pattern only confirms it only comes into play if we see a confirmed breakout Above This resistance which is sitting at around 43.6k but ideally above 43.7k to break
Out above this area and so once again as of right now considering we have not yet confirmed a breakout above this important line of resistance as of right now that bullish price Target and this bullish pattern is not yet active it is not yet in play and as Traders we can
Make money in either direction obviously if we break out to the upside or to the downside we can make money with long positions or short positions and so all we really need to know is the entry point into the trade and a possible exit point which is basically the breakout
Point or the breakdown point and the price Target in either scenario as the entry and the exit and in case you’re wondering where I take those trades in the price of Bitcoin and 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 Pinn comment and if you use that link down below this video to make a buybit account you can get up to a $30,000 deposit bonus by making a deposit 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 pins comments and if you use that link to make a bit flex account and deposit $100 worth of crypto and to make one trade over on bit flex then you can get 10 usdt completely for free along with other new 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 and so once again easy strategies to make money here
In the pr Bitcoin is is right now while the price is in this choppy sideways price range we can use things like grid Bots to make a lot of easy profits while the price is chopping around sideways and if you want to know more about grid
Bots then stick around to the end of this video to find out more and once again as I mentioned earlier I talked about a possible strategy in the bullish scenario and the bearish scenario so that no matter what direction the price goes we can make profits in either
Direction and now unfortunately I still get some comments from time to time saying that I’m just saying that we could go up or we could go down and I’m not really saying anything but once again it’s important to understand that you can use short positions and long positions to profit in either direction
And we don’t need to know the direction beforehand we just need to know the signals the entries and the exits and so once again breaking out above resistance that would be the signal for a possible entry and then a price Target to the upside would be a possible exit for that
Trade in that scenario and once again we also have a possible strategy set up with the bearish scenario a signal breaking below support which would enter into a trade with a short position and an exit around the price price Target and now as always this is not personal
Financial advice because I don’t know your personal financial situation I’m just simply pointing out potential strategies in either scenario and so once again you do not need to know beforehand whether or not the price is going to break bullish or break bearish because we already have the strategies
And a plan set up in place for each scenario and now if we’re taking a look at this 4-Hour Bitcoin chart obviously over the last one day we saw a small break to the downside from this ascending line of support which was sitting at around 42.8 to
42.9k and as you can see right here the price of Bitcoin broke to the downside and then we saw pretty much a perfect bounce at around 42.2k which I’ve been talking about for a while now on the channel is acting as strong support and so even if we broke
This line of support obviously we cannot forget about other important support levels which is why we saw that bounce back to the upside and so this is why I’ve been mentioning over and over again since all the way back here in the short term I’m still very neutral on the price
Of Bitcoin while we’re in this sideways price range and it would only start to flip much more bullish or much more bearish again once we finally leave this price range and if we taking a quick look at the Bitcoin liquidation heat map just recently we’ve actually taken out a
Small amount of liquidity to the upside which was sitting at around 43 and a half thousand and we also have a little bit more liquidity at around 43.6k and some small amount of liquidity at around 43.8 to 43.9k but if we’re zooming out on this Bitcoin liquidation heat map we can see
Some other important liquidity levels once again we still have that small amount of liquidity to the upside but as for liquidity to the downside we have some liquidity sitting at around 41.7 to 41.8k and also some more liquidity at around 41.6 to 41.7k so basically at the
Low end of this area of support right here we do have some more liquidity and basically these liquidity levels these liquidation levels is where the price is most likely going to go towards and so due to the fact that we have some liquidity to the upside and the downside
In the immediate short term right around these areas of support and resistance it’s no surprise why Bitcoin has been just chopping around sideways hitting exactly these levels because obviously the price is just taking out those areas of liquidity and once again as I said earlier if we see a confirmed break
Below this area of support then in that case I’d be targeting down towards 395,000 to 40K based on a lot of liquidity sitting around those prices 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
But if we’re taking a look at the daily ethereum macd right now this is showing very low momentum so this is why we’ve been seeing a lot of choppy sideways price action over the last few days because once again at the moment we’re simply lacking momentum and so with this
Reduced momentum in the price right now I would be expecting mostly choppy sideways price action basically these mild moves up and down on the daily time frame and nothing too significant to either Direction but if we’re zooming into the shorter term looking at the 4H hour East to US dollar chart right now
The price is attempting a breakout Above This descending line of resistance which is sitting at around 2310 but as of right now we only have one single 4-Hour candle close just above this line of resistance and we don’t really have a lot of other confirmation aside from that and as of
Right now we’re currently retesting that line at the time recording this video and so if we simply see candle closes back below that line so back below around 2.3k give or take then in that case that would invalidate the breakout to the upside and so in that scenario if
We break back below this line with candle closes back below that line then we’re essentially still within this descending parallel Channel and in that case I would expect support at around 2260 more support down towards around 2250 and much more support down towards around 2.2k but once again if we’re looking at
The 4-Hour ethereum RSI this is looking relatively neutral with the RSI basically chopping around sideways right around the middle of the indicator and so even though the price is attempting a breakout above resistance once again the momentum right now is simply lacking which is why we’re not releasing a
Massive move to the upside or to the downside at the moment and if we’re taking a look at this 6h hour e to us doll chart just recently we’ve confirmed a 6-hour candle close Above This descending line of resistance which once again is sitting at around 2.3k to 2310 approximately and so technically
Speaking that is now one confirmation signal for the breakout of The Upside for this symmetrical triangle pattern but ideally the more confirmation the better because the more confirmation that we see the more confident that we can be in the price really breaking out to the upside and so for example with
One confirmation like this technically that activates the price Target sitting at around 2580 approximately but because we only have one small confirmation just above resistance this could easily be invalidated with a quick break back to the downside and so once again if we see candle closes back below around 2.3k
That would invalidate the breakout to the upside and invalidate this pattern and remember as I said earlier in the video we’re still lacking momentum as of right now and so even if we’re really breaking out to the upside and we see some more confirmation we might not
Necessarily see a very fast massive move to the upside like that because once again we’re simply lacking the momentum but what has not been lacking the momentum as of recent over the last few days is of course chain link which has been exploding to the upside from this
Massive breakout and this right here is on the chain link to US dollar chart on The Daily time frame and as I said in my last video we have this bullish inverse head and shers pattern which has already broken out to the upside and I said in
My last video when the price was at around $18 that we still have this price Target at around $20 and so far the price has moved a lot higher since my last video and so obviously if you took that trade yesterday when I talked about
It in my last video from where we were yesterday to where we are right now that’s nearly 10% higher in the price of chain link and so even if you just bought some on the spot Market obviously that’s a 10% gain but if you took for for example a 10x leverag long position
That’s a 100% profit which is doubling your money but it is important to understand that right now we’ve almost basically hit the price Target and so obviously there’s very limited room to the upside in terms of the price target for this pattern and considering the fact that the price has already pumped
Quite a lot from the breakout from this pattern of course there is an increased amount of risk if you’re entering right up here and so basically we’ve already pretty much completed this pattern we’ve already gotten very close to the price Target but technically still in play because we’ve not fully hit the price
Target at least as of right now which by the way is sitting at around $20 but with that being said there’s still a decent amount of room left towards the price target for chain link versus Bitcoin on this daily time frame because we’re also seeing a massive bullish
Breakout for chain link versus Bitcoin from an inverse Head and Shoulders pattern just like Chain Link versus the US dollar and as of right now the price of chain link versus Bitcoin is roughly around halfway between the breakout and the prize Target so there is still potentially more room to the upside for
Chain link versus Bitcoin and as of right now from where we are right now at least as recording this video to that price Target in Bitcoin terms that’s still potentially an 11% move to the upside and so at least according to this invers and shorts pattern and this
Bullish price target of course chain link could continue outperforming Bitcoin at least in the short term moving forward but either way if you want to know how you can profit from crypto no matter if we’re going to the upside to the downside 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 shoy ha can open long positions and short positions to make money if the price is bullish or bearish and the video in the bottom left talks about
Those grid bot strategies 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
17 Comments
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First
❤
First
The meticulous attention to detail is an art form. Each frame feels like a masterpiece.😻
🎉❤
First what 0 sec 😂 i m first
TA is there to give you a blueprint of where the market could go and how far it can go. Bullish divergence and bearish divergence in my experience have worked out splendidly. The market will dictate the moves TA can give you an understanding of the general take profits areas. That doesnt' mean the market will do it's own thing.
Hi Josh!😎
Doesn’t link have an inverse relationship with BTC?
Josh:
Yesterday I saw a podcast with Peter Schiff at MeetKevin channel and he is still with the points he was making…. would YOU consider watching it and giving your responses to the points Schiff makes…. not a "reaction" but a sort of discussion to it…??
With your technical knowledge and understanding of BTC I think it wold benefit YOU, by facing detractors, and benefit us at the seme time.
Crypto is the best future where people makes money and generate good returns.
Josh"
What is your best GUESS as to how long this sideways price action in BTC is going to last, the selling from Grayscale has indeed slowed down, so what's next, how long before teh buying pressure overcomes or even overwhelms the selling pressure??
I never really watched yt that much until I found your channel
Another very clear and informative video. Thank you sir
Please add the solana analysis back again , thanks
Please add the solana analysis back again , thanks