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    Timestamps:
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    Ethereum Technical Analysis! 9:46
    Solana Technical Analysis! 12:57

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    – Crypto World –

    Welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin has just hit my exact technical price Target as this short-term bearish signal is still currently playing out and this chart is also potentially revealing new bitcoin price targets as the price is currently rejecting from

    The most significant area of resistance so I’ll be talking about all of that in just a moment alongside ethereum which is now playing out a short-term bearish signal and salana which is potentially invalidating this breakout to the upside 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 look at the weekly Bitcoin chart and as I’ve talked about recently on the channel the parasa Bitcoin is still currently running into the most significant area of resistance which is sitting in between around

    48,000 to 50,000 and previously we’ve seen two perfect rejections from this exact area of resistance first of all back here at the end of March 2022 and also roughly around 1 month ago and not only not only is that an important area of resistance based on two important previous rejections it’s also an

    Important area of resistance based on the fact that that is the golden pocket the 61.8% Fibonacci level to the 65% level which is the most significant Fibonacci area on the chart and so once again as I’ve mentioned recently on the channel in the short term while we’re

    Still running into that price range of course we could see the price struggle around those areas we could potentially see rejections from that area of resistance but once we finally see a confirmed breakout above 50,000 so once we first see at least a weekly candle close above

    $50,000 then at that stage we could likely see a run up towards the all-time high within the next few weeks or months after we first see a breakout above 50,000 which obviously as of right now has not yet happened and so once again the important resistance to pay

    Attention to is still sitting in between 48,000 to ,000 and if we’re looking at the 3-day Bitcoin chart at least as of right now we’re still basically playing out this volatile move that I’ve talked about recently on the channel but if you want to know more about this chart right

    Here and what it actually means for the price of Bitcoin definitely watch my last few videos here on the channel if you want to know more about this chart right here and so getting straight into the daily Bitcoin chart and of course right now the daily Bitcoin RSI is currently sitting in overbought

    Territories which means just in the imminent short term the price is getting a little overheated at the moment but as I’ve also said recently of course if you’re looking at the momentum in the daily Bitcoin macd as of right now obviously the momentum is clearly more

    Bullish than bearish and so even if we see some sort of short-term coof basically a bit of a break from all of that crazy bullish price action due to the fact that the RSI is overbought that does not necessarily mean the complete end of this bullish move it could just

    Be a short-term break before eventually continuing the bullish move later on considering the momentum at the moment is still currently bullish and if we’re staying on the daily Bitcoin charts but taking a look at the dxy also known as the US dollar index over the last one

    Day we’ve actually seen a very slight move back to the upsides but overall from the local high we have pulled down just a little bit in the dxy and of course if the dxy is pulling down further that is bullish for Bitcoin and crypto but if we end up seeing another

    Move back to the upside in the dxy like what we saw just here for example or some of these previous examples then as you can see on this chart usually when the dxy is bullish of course that’s bearish for the price of Bitcoin most of

    The time and so I’ll be keeping a close eye on the dxy and of course I’ll keep you up to every day here in these videos 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 but anyway if

    We’re taking a look at the 8 Hour Bitcoin chart as I’ve been talking about every single day since all the way back down here at around 42 to 43,000 I’ve been talking about this bullish inverse Head and Shoulders pattern this bullish breakout and this bullish price Target which was sitting at around

    48.8k and if we’re taking a look at where the price of Bitcoin at least as of right now has currently hit a local high that will send at pretty much exactly on the dollar at 48.8k and so obviously if you’ve been watching my videos over the last 1 to

    Two weeks or so and you took this breakout trade into the long position anywhere near this breakout then obviously you’ve done very well with this trade and if you took profit around this price target of course right now you’ll be out of that trade in massive profits and now obviously there is no

    Such thing as a 100% win rate so sometimes we have these great trades and sometimes they might just break out and invalidate the breakout and then we take a small loss in those cases but the whole point to trading is not to win 100% of all of your trades because that

    Is completely impossible the whole point is to have bigger wins than any losses that you’re taking and so for example if only half of your trades are profitable and half of the trades you lose of course if you’re making bigger profits on your winning trades compared to the

    Losses that you’re making on your losing trades even if you’re losing half of your trades over time you can still be profitable over the longer run if you’re making bigger profits on your winning trades compared comp to the losses that you’re making on your losing trades and

    Now that’s typically one of the biggest hurdles to jump over especially if you’re new to trading of course it always Suns taking a loss on a trade but if your risk to reward ratio for the trades that you’re taking uh let’s just say a 5 to1 risk to reward ratio so

    Compared to the risk that you’re taking the potential reward is five times bigger that basically means even if you’re losing three out of five Trad and winning only two out of five trades of course you can still come out ahead because your profits on those two winning trades are way bigger than any

    Losses on your losing trades but as always none of that is personal financial advice because I don’t know your personal financial situation I’m just simply explaining risk to reward ratios and how we can still be profitable Traders even if we’re taking some losses here and there and if you’re

    Wondering where I take these trades in the price of any crypto personally I take these trades over on buybit so I’ll make sure to leave a link to bybit in the description down below and in the pin comment and if you use that link down below this video 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 pivit 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 also right now bitflex is running an exclusive Apple Watch series 9 giveaway if you use the link down below this video because basically if you click that link Down Below in the description or in the bin comment that will take you

    To this page right here where you can sign up to bitflex and deposit a $100 worth of crypto and to make one trade on the derivatives Market over at bitflex and once you do that that will enter you into this giveaway in the running for a

    Brand new Apple watch series 9 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 or enter this

    Giveaway but anyway once again right now the price of Bitcoin has already hit this technical price Target at 48.8k which means this breakout in this pattern right here is now complete it is no longer playing out but what is playing out right now at least as of

    Recording this video is a small bearish Divergence here on the 4-Hour time frame that I also talked about in my last video and what I said in my last video just yesterday was that we’re most likely going to see either some choppy sideways press action or possibly a

    Slight pullback at least over the next one day as the most likely scenario and that’s exactly what we’ve been seeing so far and now technically speaking if we’re looking at the charts alone we could continue to see that over the next one to two days but the difference

    Between today and yesterday is obviously yesterday was a weekend and today is a weekday which means the US Stock Market is opening back up again which means the Bitcoin ETFs are trading again because they trade on weekdays and so basically depending on inflows and outflows from

    The spot Bitcoin ETFs we could end up seeing potentially another move to the upside for example if we see a lot more buying pressure from the Bitcoin ETFs and as I’ve recorded in this video we do not yet have today’s numbers for the spot Bitcoin ETFs but I’ll be sure to

    Keep you up to date over on my my Twitter and here on YouTube but once again if we’re looking at the chart alone let’s just say if the Bitcoin ETFs did not exist then technically speaking we should continue to expect either some choppy sideways price action or a little

    Bit more of a pullback but once again depending on what the ETFs are doing on a weekday that could potentially change that but either way in terms of support and resistance to watch out for we do have this level of support which is sitting at around 46.8k to 47k but in a

    More bearish scenario let’s just say if we broke back below 46.8k then in that case we should also find some more support in between 45,000 to 45.4k and as for resistance once again we’re still running into that significant area of resistance in between 48,000 to 50,000 and so once

    Again just in the short term here we could potentially see the price somewhat struggle going to the upside because we’re still running into that significant area of resistance and if we’re taking a quick look at the Bitcoin liquidation heat map looking at the last one week worth of price action we can

    See a decent amount of liquidity first of all sitting at around 47.6k to 47.7k and below that area right there we have another cluster of liquidity sitting at around 46.7k and below that we also have a lot more liquidity down towards around 44.2k to 44.3k approximately but once again

    Between the current price and some of those lower levels there are those levels of support that we need to pay attention to where the price could possibly bounce at but essentially if you new do all of this these areas of liquidity these liquidation zones are usually attracting the price of Bitcoin

    Towards those areas and as for liquidity to the upside we only have a relatively small amount of liquidity to the upside which is mainly sitting at around 48.9k but anyway getting into the ethereum part of this video this is on the daily eth to US dollar chart and

    Right now the daily etherium RSI is actually experiencing a small rejection from this descending line of resistance and if this rejection continues in the RSI that’s potentially a sign of weakness at least in the short term but overall in terms of the momentum at the moments here in the daily ethereum macd

    As of right now we’re still currently looking more bullish than bearish like I said for Bitcoin and so once again we could potentially see a sideways consolidation or a slight pullback in the short term But ultimately that could be within more of a bullish Trend considering the momentum at the moment

    Is more bullish than bearish and if we’re taking a look at the 6h hour eth to US dollar chart as I talked about in my last video we have a new bearish diverence here on the 6-hour time frame which is now playing out and so like I

    Said in my last video due to this reason I have taken more profits off the table from my ethereum long position that I entered all the way back around here and obviously if you’ve been watching my videos over the last one to two weeks or so you’ll know about this bullish

    Breakout from this symmetrical triangle pattern which set up a bullish price Target at around 2580 and so due to that reason when the price was all the way back down here close to 2.3k I was talking about entering a long position how we could enter a long position and trade this

    Move to the upside and that’s exactly what I’ve been doing so far but once again just recently over the last couple of days as I’ve said on these videos over the last couple of days I have started to take profit out of that long position and now I have not closed in

    The long position entirely which means if the price continues pumping I could still continue profiting from that move to the upside because I still have part of that position open but as of right now my stop loss is already sitting in profits which means in the worst case

    Scenario if we crash right now first of all that stop- loss would exit me out of the trade automatically in profits and on top of that once again over the last couple of days I have taken a little bit more profits of the table from this short-term leveraged long position

    Because as usual a bearish Divergence typically plays out in the form of either choppy sideways press action or potentially a slight pullback in the short term as the most likely outcomes from a bearish Divergence and so technically speaking because this bearish Divergence is still active here on the 6-hour time frame that’s

    Potentially the most likely outcome over the the next 1 to two days at least either some choppy sideways price action or a little bit more of a pullback as the most likely scenario and if we’re taking a look at the 8 hour time frame right now the price of eth is attempting

    A break back below this previous line of resistance which was temporarily acting as a bit of shortterm support and that is sitting at around 2490 to 2.5k and as for other short-term support levels we could find a small amount of support at around 2470 but below that we have this

    Significant area of previous resistance which should act as new supports and that’s sitting in between around 2390 to 2430 and as for short-term resistance back to the upside we also have this level of resistance which is sitting at around 2580 to 2590 but once again we’re currently seeing a short-term bearish Divergence

    Now playing out which means we should not necessarily expect a massive amount of bullish momentum at least in the imminent short term here just on the smaller time frames but now that we’re seeing the price of eth play out this new bearish Divergence while Bitcoin is

    Also kind of cooling off just in the imminent short term this is affecting the price of salana as well just in the shorter term here because first of all as I talked about over the last few days we initially started to see a breakout to the upside Above This golden pocket

    Area of resistance which was sitting in between around $15 to $17 and not only were we breaking out above the golden pocket we will also breaking out from this inverse Head and Shoulders pattern which set up a bullish price Target at around $133 but as always the point of

    Invalidation for a breakout would be if we broke out to the upside and then if we break back below that area of resistance that is the point of invalidation and now typically we need to see some candle closes at least one candle close back below this level of

    Resistance which was sitting at around $15 if we’re looking at the low ends and essentially once we see some 8h hour candle closes below $15 that further invalidates the breakout of The Upside which will invalidate this bullish price Target and now now considering the fact that at least as recorded in this video

    We have not yet seen that 8h hour candle close below $15 obviously there’s still a possibility that we could end up closing back above $15 which means this could potentially just be a retest and as for other support and resistance levels these have not changed over the

    Last one day so if you want to know more about those check out my last few videos here on the channel and also check out these videos popping up right here on your screen because the video in the top left shows you how you can profit 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 from 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

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