BITCOIN PRICE TARGET REVEALED (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction!
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Important Bitcoin Analysis! 0:00
Ethereum Technical Analysis! 10:19
Solana Technical Analysis! 14:58
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– Crypto World –
Welcome back to the crypto Channel everyone my name is Josh and right now while Bitcoin is still playing out this short-term bearish Divergence the price is now forming a new pattern which could set up a new price Target so I’ll be talking about that in just a moment alongside ethereum which just confirmed
A new warning signal despite the price breaking out on the larger time frames so I’ll be talking about all of that and more later in the video so definitely watch to the end first of all starting off on the weekly Bitcoin chart and right now the price of Bitcoin is still trading Above
This golden pocket which is sitting in between around 48,000 to 50,000 and that area should now act as new support for the price of Bitcoin and so just in case we continue to see a bit of a short-term pullback once again I would expect support around that area and for as long
As the price of Bitcoin is holding above around 48,000 we’re still looking very bullish here on the weekly time frame in terms of the larger Trend at play and so over the last one day nothing has really changed here on the weekly time frame and something similar can be said about
The 3-day Bitcoin chart which is still playing out that short-term cool off basically a sideways consolidation after that extreme volatile move to the upside which so far is still playing out as expected because over the last few weeks or so since all the way back down here
At around 42k I said we’re most likely going to see a quick volatile move pretty much straight to the upside in between 51 to 55k as a price Target which is exactly what happens and then from there I said I most likely expect either a sideways consolidation or a
Slight pullback basically a break from all of that extreme bullish price action which so far is playing out and I continue to expect that type of price action at least in the short term and so once again I still expect a bit of a short-term cool off from all of that
Bullish price action but not necessarily the reversal out of the bullish Trend because remember during this larger bullish Trend we can still see short-term pullbacks and sideways consolidations here and there during a bullish Trend and so ultimately after we finish playing out this sideways consolidation or even after a bit of a
Pullback either way I do ultimately expect the trend to continue further to the upside later on at some point but if we’re taking a look at the daily Bitcoin chart as of right now we’re still seeing a little bit of short-term bearish momentum here in the daily Bitcoin macd
Because as I said a few days ago here on the channel we recently just saw a bearish cross confirmed in the daily Bitcoin macd which once again means we don’t really have a lot of bullish momentum in the short term and in fact we’re starting to see a little bit of
Bearish momentum at least in the shorter term here because if we’re taking a look at the last couple of times where we saw a bearish cross confirm in the daily Bitcoin macd this has happened usually around time periods where the price kind of stops going to the upside at least in
The short term and so we usually see either some sort of sideways consolidation or even a bit of a pullback in the short term before we could potentially continue that larger bullish Trend further to the upside later on and so once again that’s what I’m still expecting and is still playing
Out as he expected a bit of a short-term cool off from all of that previous bullish price action but then eventually we’re l likely going to see the continuation of that bullish Trend and also while the price is consolidating sideways basically cooling off from that bullish price action this is helping to
Reset the RSI on The Daily time frame out of those overboard territories and back down towards more neutral levels and so this is great to see as well for the larger bullish Trend because if the RSI resets further to the downside that gives us more room to the upside later
On because if we’re taking a look at these massive bullish moves to the upside pretty much all of those started when RSI was actually back down towards more neutral levels whereas if the RSI is already very overbought on The Daily time frame if you’re looking at where the price went next from those
Overbought territories yeah we can go a little bit higher but usually the upside is somewhat Limited at least in the short term if the RSI is overbought and so once again it would actually be a good thing for Bitcoin if we continue to see a bit of a cool off to help reset
The RSI giving us much more room to the upside later on and if we’re zooming into the shorter term looking at the 4our time frame obviously over the last one week or so we’ve seen this short-term bearish Divergence play out as expected because one of the most likely outcomes from a bearish
Divergence is indeed choppy sideways price action and at least for now while the RSI is still kind of trending to the downside on the 4-Hour time frame technically this bearish Divergence is still playing out but eventually possibly in the coming days this RSI could invalidate the bearish Divergence
If we see more of a bullish reversal basically higher lows and higher highs beginning to form in the 4-Hour Bitcoin RSI but at least for now once again the price is still in this choppy sideways price range looking relatively neutral at least in the short term with this
Area of support sitting in between around 50.5k to 51k and this level of resistance sitting at around 525,000 and so you can think of this area of support as where there’s a lot of buyers waiting to buy Bitcoin so anytime the price of Bitcoin enters into that price range we usually see the
Price get bought up and vice versa if the price runs into this level of resistance we usually see a lot of sellers coming into play selling Bitcoin around 525,000 at least in the shorter term Here and Now obviously eventually at some point the price will either break below this support or above this
Resistance and at that point that is when we could flip much more bullish or much more bearish again at least in the short term but for now we’re still in a choppy sideways price range looking relatively neutral and just before talking about some other important Bitcoin and ethereum charts of course if
We break to the upside or to the downside we can make profit in either scenario with long positions or short positions and personally I take trades just like that over on bybit so I’ll make sure to leave a link to bybit in the description down below and in the
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Kyc on bybit there is also bitflex which is another crypto exchange similar to buybit but you don’t need kyc for bitflex and also right now there is an exclusive Apple watch giveaway happening over at bitflex but only if you use the link down below this video 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 that giveaway but anyway once again right now
The price is looking relatively neutral in the shortterm but if we break below this support then we would flip more bearish in the short term with a price Target down towards around 49,000 but another level of support at around 50,000 and of course if we break out
Above around 525,000 that would be the bullish confirmation signal basically signaling the continuation of this much larger bullish Trend here on the weekly time frame and so for now we just need to wait and see for one of those signals to confirm and until then once again we’re looking relatively neutral in the
Short term and while the price is basically chopping around sideways we’re actually forming a possible bullish flag pattern also here on the 4-Hour Bitcoin chart because obviously as you can see right here we have a slightly descending parallel Channel with a descending line of resistance and a descending line of
Support and right now this line of support is sitting at around 505,000 approximately with this line of resistance actually sitting at around 52.2k and of course with this forming just after a volatile move to the upside that creates a bullish flag pattern and basically this pattern confirms if we
See a confirmed breakout with candle closes Above This resistance resistance and now ideally we need to actually see a breakout Above This resistance at around 525,000 but if we do end up seeing that happening if we see that bullish breakout then if we’re taking a look at
A potential priz Target for this bullish flag pattern just a conservative price Target looking at a small up bull flag pattern right here of course that would set up a bullish price Target at around 54.6k to 54.7k and so from the point of the breakout to that price Target we’re
Looking at around a 4 to 5% move to the upside but of course we can take a look at a larger price Target if we’re measuring a larger flag pole and so that will just be an initial price Target to pay attention to one of the first price
Targets that we could hit once again at around 54.7k approximately but only if we first confirm a breakout above around 52 and a half thousand which as of right now has not yet happened and also here on the 4-Hour Bitcoin chart we have a potential invers Head Shoulders pattern
With this left shoulder this head and right now we’re possibly forming a right shoulder but for this pattern to complete we need to see a bounce sometime soon over the next 1 to two days or so and then a breakout Above This level sitting at around 51.8k approximately but ultimately that
Will just give us a price Target even smaller than this price Target and of course we’ll still need to break out Above This resistance at around 525,000 which is still an important obstacle to pay attention to and if we’re taking a quick look at the Bitcoin liquidation
Hit map just in the shorter term here we have a lot of liquidity the price just took out to the downside and some we just took out to the upside but we still have some important areas to pay attention to for example we have this level of liquidity sitting at around
50.5k that we still need to pay attention to but we also now have this major area of liquidity building to the upside sitting in between around 52,000 going up towards around 52.3k and so basically right at the lower side of this level of support we have a lot of liquidity and just before
This line of resistance we have a lot of liquidity right there and in case you new to all of this usually where we have the most liquidity those areas attract the price of Bitcoin towards where there’s most liquidity and so once again we could continue to see the price
Basically chop around sideways in this sideways price range hitting those areas of liquidity before making the next major move and of course today the US Stock Market opens back up again which means the Bitcoin ETFs begin trading again today but as of right now at least
As of recording this video we do not yet have the numbers for the ETFs for inflows or outflows but as always I’ll keep you up to date in real time over on my Twitter link Down Below in the description and in the pinned comment and as always I’ll keep you up to date
Here in these videos so in my next video I’ll be sharing the new numbers from the Bitcoin ETFs and so as always 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
Quick look at the price of eth on the weekly time frame of course we’re still continuing that breakout to the upside on the much larger time frames well above the Goden pocket which is still sitting in between around 2.5k to 2.7k approximately and so once again as I’ve
Been saying this entire time on the larger time frames I’m still extremely bullish on the price of eth especially in terms of the larger Trend at play but obviously it’s important to keep in mind that during a larger bullish Trend we can experience short-term pullbacks and sideways consolidations on smaller time
Frames during a larger bullish Trend but as of right now the main area of resistance to pay attention to on the larger time frames is an area in between around 3.4k to 3.5k based on this Fibonacci level the 78.6% Fibonacci level of resistance at around 3.4k and also this previous high sitting at
Around 3.5k acting as resistance and so that could potentially be the final significant obstacle for the price of eth on the larger time frames before we can start targeting the alltime high and of course this golden pocket like I said for Bitcoin should also be acting as
Support for ethereum like what we saw in q1 of 20 22 and so just in case we see any sort of significant pullback in the short term once again I would expect a lot of support around that area and if we’re taking a look at the daily time
Frame of course right now and as I’ve said over the last one week or so we’re losing a little bit of bullish momentum at least in the shter term in the macd and so due to that obviously if you’re looking at the slope of the price action
We’re starting to slow down as of the last one week or so but obviously as I’ve also been saying over the last one week even though we’ve lost some bullish momentum of course we have not really lost a lot of bullish momentum and we have definitely not confirmed any
Bearish Trend reversal and so once again as I’ve been saying overall we’re still looking more bullish than bearish it’s just in the shorter term we are currently slowing down at least a little bit and part of that could be due to the fact that the RSI on The Daily time
Frame is still currently overbought which once again means at least in the shorter term we have somewhat limited room to the upside because if you’re simply looking at the other times where the RSI on The Daily Time FR was overbought that usually happened just before either a sideways consolidation
Or a slight pullback but not necessarily the end of the bullish Trend and so once again sometime soon I do expect some sort of short-term callof basically a bit of a break from all of that bullish price action but that could potentially happen before the continuation of the
Bullish Trend later on and if we’re zooming into the 8 hour time frame of course right now we’ve just confirmed a new bearish Divergence on The 8 Hour chart because the price has set a new higher high in place in The 8 Hour candle closes while the RSI has just
Confirmed a new lower high in place in the 8h hour ethereum RSI and so once again even while the price is forming higher highs if the RSI is still forming lower highs there’s still a bearish Divergence here and so once again this is technically a sign of weakness at
Least in the short term for this bullish Trend which means we usually see either choppy sideways price action or possibly a slight pullback as the most common out comes from a bearish Divergence and remember even if we form a new higher high again if the RSI is still sitting
In lower highs that could just reconfirm a new bearish Divergence and so what we would ultimately need to see in order to invalidate this bearish Divergence alt together is actually a strong breakout in the RSI above one of these previous highs in order to confirm higher highs
In the RSI and higher highs in the price but anyway at least for now once again at least with one 8h hour candle close we have got one confirmation for this new bearish Divergence which means we’re most likely going to see at least a little bit of a pause from all of that
Bullish price action in the short term but if we’re taking a look at this previous bearish Divergence that we saw right here that played out in the form of choppy sideways press action over around half a week or so before we actually saw another move to the upside
And so just keep that in mind as well obviously this could just play out over the next few days possibly over around a week or so but then eventually I do expect the continuation of that larger bullish Trend at some point and so overall just to sum it up on the larger
Time frames in terms of the larger Trend I’m very bullish is just in the immediate short term we could see a bit of a break from that bullish Trend and as for short-term support we do have support right here based on the 8- hour candle closes sitting at around
2920 and below that we have this area of support sitting in between around 2840 going up towards around 2870 acting as support and we could also find a bit of short-term support at this previous level of resistance now acting as new support at around 3020 so just above 3K
And if we’re taking a quick look at the price of salano on the 8 hour time frame technically speaking this break to the downside for this head and shoulders pattern which is a bearish pattern is still active because as of right now we have not yet confirmed a breakout back
Above This golden pocket sitting in between around 105 to $17 and so as of right now we still technically have this bearish price Target in play at around $94 to $95 but as I’ve also mentioned over the last half a week or so obviously we are running into this short-term level of
Support at around 9 $99 to $0000 and so also just to keep that in mind in the short term we could actually be entering into a bit of a sideways price range in between around $99 acting as support and this golden pocket at around $15 to $17
Acting as resistance and so if that’s the case if we’re just going to chop around sideways as of right now I’m still actually holding part of that short position that I entered back here at that initial break to the downside and while the price is actually chopping
Around sideways if the price is neutral I’m still making money on the that short position because the funding rates are quite positive right now which means the funding rates are paying me interest on that position and as I’ve also mentioned over the last half a week or so I’ve
Already taken a decent amount of profits off that table for that short position right around this level of support at around $99 to $100 and ultimately I’d close the rest of that position if we actually invalidate that break to the downside by seeing a breakout back above
That golden pocket in that scenario I would close that position alt together but once again considering I’ve already closed a decent amount of that short position in profits even in that worst case scenario as of right now in my position this is still a profitable
Trade and so once again if you want to take trades just like this or the trade that I took for ethereum which I also shared here on the channel as soon as I opened that long position then make sure to check out those links down below this video to those exchanges where I
Actually trade on if you want to get those extra bonuses once again use those links down below this video and if you want to actually know how to take these trades in the price of any crypto no matter if we’re bullish bearish or chopping around sideways then make sure
To watch these videos popping up right here on your screen the video in the top left shows you how you can profit from bullish or bearish Price action using long positions or 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
14 Comments
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First!!
First
🤘😎🤘
Josh can you please tell us your thoughts about PROPCHAIN?
The attention to detail is remarkable. It's evident that a lot of thought and passion went into making this.👄
First
Great update again, Thanks 4 sharing daily, keep it all up!
Thanks!!!
btc just broke the resistance
Already above 53
The further we go with out retesting the bull market support band the worse the pullback will be
Pump dump
hi josh Thanks for you in depth updates. Its really helpful. Can i ask what charts/platform you used on the video please ?