BITCOIN DUMP: DON’T BE FOOLED (New Target)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN DUMP: DON’T BE FOOLED (New Target)!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto Channel if
you’re on my name is Josh and right now
this massive new pattern is forming on
the Bitcoin chart but in the short term
Bitcoin is now breaking to the downside
from this short-term bearish pattern so
I’ll be talking about that in just a
moment alongside ethereum which is now
flashing a new signal in the short term
that we need to pay attention to while
salana just invalidated this breakout to
the upside so I’ll be talking about all
of that and more later in this video so
definitely watch to the end
first of all just giving you a quick
update on the Bitcoin ETF news today and
just on Tuesday we saw another net
inflow this time around it was a net
inflow of around 31.6 million us and so
of course on Tuesday that was good news
for Bitcoin we did see a bit of bullish
price action for Bitcoin with this extra
buying pressure coming into the market
and if we’re looking at the breakdown we
saw relatively small inflows but spread
out inflows across multiple different
ETFs and actually a relatively small
outflow from grayscale and so at least
at the beginning of the week talking
about Monday and Tuesday we haven’t
really seen a lot of action from the
Bitcoin ETFs just two relatively small
inflows okay inflows but relatively
small net inflows but anyway taking a
look at the Bitcoin charts today this is
on the 3-day time frame and as of right
now here on the larger time frames we’re
still clearly within a larger bullish
Trend also known as a bull market
because as of right now we’re still
forming significant higher lows and
higher highs here on the larger time
frames but obviously during a bull
market or during a larger bullish Trend
we can see shortterm pullbacks from time
to time or short-term bearish price
action and so do not be fooled by
shortterm day-to-day bearish price
action because that’s very normal to see
and in fact that’s one of the major
mistakes that beginners make is simply
by Panic selling Bitcoin or getting
super bearish on bitcoin just because we
saw a bit of bearish price action let’s
just say in the last few hours but as I
always say it’s important to understand
the difference between the different
time frames of course in the shortterm
from time to time yes we can see bearish
price action here and there but when
we’re zooming out looking at the bigger
picture we can clearly see that as of
right now at least the price of Bitcoin
is still within a larger bullish Trend
also known as a bull market and not for
natural advice but usually these
short-term pullbacks actually turn out
to be great buying opportunities to
accumulate cheaper Bitcoin before the
bull market continues later on but
anyway taking a look at this daily
Bitcoin chart and as of right now the
dxy is still pulling back over the last
one day we’ve seen a very very small
Spike to the upsides but we’re still
basically seeing a pullback here in the
dxy as I’ve mentioned in recent videos
here on the channel and so technically
speaking if the dxy is bearish as we can
see on this chart usually when the dxy
is trending in the bearish direction
that is bullish for Bitcoin as and
crypto and so of course if this pullback
continues here in the dxy as we’ve seen
over the last one week approximately
technically that should be a bullish
indication for Bitcoin and crypto as
we’ve also seen approximately over the
last one week we have seen a bit of a
short-term recovery in the price of
Bitcoin and if we’re taking a look at
this daily Bitcoin chart looking at the
daily Bitcoin RSI as of right now this
is actually pulling back alongside the
price of Bitcoin here in the imminent
short term potentially to retest this
descending line of previous resistance
and now if we actually see a break back
below this line right here in the daily
Bitcoin RSI then that will tell us that
this breakout to the upside that we saw
over the last 1 to two days is
essentially a fake out it was
invalidated but once again that’s only
really if we confirm a break to the
downside again here in the RSI but if we
actually hold Above This level and
ideally start forming some higher lows
and higher highs again in the daily
Bitcoin RSI which will happen eventually
whether it’s now or later at another
Point basically when we eventually see
more of a bullish Trend form in the
daily Bitcoin RSI that is a strong
signal on the chart telling us that the
price of Bitcoin is gaining strength
we’re looking more bullish once we
actually start forming higher lows and
higher highs in the daily Bitcoin RSI
and so like I said in my last video we
do have a small confirmation signal of
this breakout in the RSI but like I said
yesterday in order to be more confident
that we’re really flipping bullish again
in the short term we ideally need to see
some higher lows and higher highs form
in the daily Bitcoin RSI which at least
as of right now has not yet happened and
while the price of Bitcoin is bouncing
around here on the daily time frame
basically taking a bit of a break or
setback from the larger bullish Trends
we are potentially seeing a massive bull
flag pattern form a bullish flag pattern
because a bullish flag pattern is
essentially a parallel Channel usually
either trending sideways or slightly to
the downside and a bull flag always
happens after a move to the upside and
usually happens during a bullish Trend
and basically the confirmation signal
that we need to watch out for for the
bull flag pattern would be a confirmed
breakout above this line of resistance
which is sitting at around 715,000 and
so basically once the price of Bitcoin
officially confirms a breakout above
715,000 with daily candle closes above
that level or even better if we flip
that level into new support then that
would confirm the breakout for this bull
flag pattern which would set up a
massive bullish price Target to the
upside for the bull flag and would
basically be telling us that we are
about to continue that larger bullish
Trend with the next leg to the upside in
the bull market and so overall the
situation on the larger time frames at
the moment is that we’re still in a
larger bullish Trend but we’re currently
taking a bit of a break or set back from
that bullish Trend which is potentially
forming this massive bullish flag
pattern which only actually confirms
once again if we see a confirmed
breakout Above This resistance at
715,000 and with that being said taking
a look at what’s happening in the
shortterm right now here on the 4H hour
time frame of course just recently we
have actually confirmed at least one
4-Hour candle close back below this area
which was acting as resistance and was
previous support and was temporary
support right here here and this should
now once again act as new resistance for
the price considering we have broken to
the downside below this area which is
sitting in between around 65 to
66,000 and also this bullish Divergence
here on the 4-Hour time frame has
already played its part and is no longer
playing out considering we’ve now formed
a lower high and lower low here in the
RSI in the 4-Hour time frame and so once
again this bullish Divergence has now
already played its part it played out
very well over the last one week
approximately but I no longer expect
this bullish Divergence to continue to
play out and as for short-term support
and resistance we have a major area of
support in between around 61,000 to
62,000 with some more support down
towards $60,000 and I would also expect
some support at around 635,000 to 64,000
based on these lows right here and as
for short-term resistance once again I
just discussed that area which should
now act as new resistance we also have a
bit of resistance at around 67,000 which
I’ll talk about in just a moment and
more resistance right here in between 68
to 69,000 and significant resistance up
here at around 715,000 and also on the
4H hour Bitcoin chart we can now see a
break to the downside from this bearish
Rising wedge pattern and obviously
already for the last couple of days I
have been talking about this Rising
wedge pattern and how statistically
speaking it is more likely to break to
the downside than to the upsid and so
this is exactly what we are seeing right
now a break to the downside from a
statistically bearish pattern and as for
support and resistance for this pattern
right here the line of resistance was
sitting at around
67,000 which we exactly rejected from
multiple times and this support line was
sitting at around
66.4k approximately and basically once
we confirmed a break below that line of
support then that set up a short term
bearish price target for this pattern
and if we’re taking a look at that
initial price Target to the downside for
this break to the downside from the
rising wedge that sets up an initial
price Target at around 625,000 and so
obviously at the time of recording this
video the price has pretty much already
moved around halfway between the point
of the breakdown and the price Target
and technically speaking there is also a
complete technical price Target a full
technical price target for a rising
wedge which is at the bottom of the
wedge sitting at around 60 to
61,000 but we have to remember that
between the current price and that
complete technical price Target to the
downside there is also that initial
price Target where we could potentially
bounce at and on top of that there’s
also those areas of support that I just
mentioned earlier where the price could
also potentially bounce at and as for my
short-term trading strategy right now as
of right now I have exited my long
position first of all if you watched my
last few videos you would know that I
already took profits from that long
position right around here and the
reason why just over the last one day I
exited the rest of that long position is
due to this move to the downside simply
hitting my stop- loss which was in
profits because at least when it comes
to my risk management for my trading
strategy I usually like to move my stop
loss into profits once the trade enters
decently into profits and so by doing
that it’s basically impossible for me to
lose on a trade once I’m move my stop
loss into profit because once we see a
bearish move like this even if it comes
out of nowhere and I don’t expect it and
I’m not looking at a bearish pattern
like this of course by having my stop
loss sitting above my entry price in the
case of a long position so in profits
then a bearish move like this would just
trigger that stop- loss in profit and
close the trade in profits automatically
and so just by using some decent risk
management we’re able to still profit
from a long position even in the worst
case scenario by taking some profit of
the table when the trade is doing well
and by also moving the stop- loss into
profits and if you want to take these
trades in the price of Bitcoin or any
other crypto personally I trade those
moves 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 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 and also if you use that link
it’ll take you to this page right here
where you can claim an exclusive 200
usdt airdrop position and so if you’re
going to be trading crypto anyway you
might as well check that out once again
first 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’ll also make sure to leave a link to
bit flex down below this video as an
alternative crypto exchange and so once
again right now my short-term trading
strategy is that right now I’m out of a
trade I have already taken a lot of
profit from that Bitcoin long position
and I’m now completely out of that trade
and I’m essentially now just waiting out
this bearish move to the downside which
once again was expected once we saw a
break below this support and potentially
at some of these lower prices if the
price of Bitcoin actually heads towards
these bearish price targets for this
pattern right here potentially down
towards those lower levels of support I
may be interested in accumulating
another long position
at better prices and the main reason as
to why I’m more focused on Long
positions over short positions at the
moment one of the main reasons is simply
due to the fact that right now we are
still within a larger bullish Trend and
now once again yes we can still see
short-term bearish price action during a
larger bullish Trend which means from
time to time we can use a short position
to profit during that bearish price
action but of course while we’re in a
bull market the long positions are far
more profitable than the short positions
once we actually flip more bullish again
in the short term because obviously if
you’re able to catch one of these moves
to the upside in a long position you’re
going to be making way more profits than
catching one of these moov to the
downside in a short position and also if
we’re taking a quick look at the Bitcoin
liquidation heat map we can see over the
last one day we took out a little bit of
downside liquidity but we still have a
lot of liquidity to the upside at around
6 67.3 to
67.4k and so potentially sometime soon
possibly over the next few days maybe
over the next 1 week or so we could
likely see a bounce back to the upside
to take out those higher levels of
liquidity because usually the price of
Bitcoin moves towards where there’s most
liquidity and so just keep that in mind
and also if we’re taking a look at the
Bitcoin funding rates across multiple
different exchanges right now the
funding rates are still relatively
neutral with some funding rates actually
above neutral and some funding rates
below neutral sitting in the negative
but ultimately if we’re looking at the
larger exchanges like binance for
example right now the Binet funding rate
is below neutral below
0.01% and so this is still telling us
that there’s a lot of people in the
market looking to short Bitcoin and
crypto and not a lot of people looking
to Long the market and so basically the
further to the downside these funding
rates go into negative territory the
more the short positions are having to
pay in fees to the long positions once
again this is actually a very rare thing
to see during a bull market we almost
never see negative funding rates or even
below neutral funding rates during a
bull market and if we’re taking a look
at ethereum on the 8 hour time frame we
can see just recently we’ve seen yet
another perfect rejection from this
exact area of resistance because once
again as I’ve been saying recently here
on the channel we have an area of
resistance in between between 3.2k to
3250 and we’ve just seen another perfect
rejection based on these candle closes
exactly from around 3250 and also now
that we’re seeing a bit of a short-term
reversal here in The 8 Hour ethereum RSI
with the RSI forming lower lows in the
short term technically this is an
invalidation signal of this bullish
Divergence and so obviously this bullish
Divergence right here has played out
very well over the last one week
approximately since all the way back
down here I’ve been seeing how this
bullish Divergence is likely going to
continue to play out but right now I no
longer expect this bullish Divergence to
continue to play out and as for
short-term support and resistance we do
have major support in this area in
between around 2850 to 2950 with some
short-term support sitting at around
3050 and above that we have a resistance
right here that I just mentioned and
above that we have more resistance in
between around 3470 to 3530 and
significant resistance at around
3650 and if we’re taking a look at the
3H hour eth to US dollar chart we can
see just recently over the last half a
day approximately we have now confirmed
a new short-term bearish Divergence
because here on the 3-hour time frame
the price in the candle closes has
confirmed a new higher high while the
3-hour RSI has confirmed a lower high
and so this now tells us that we have
essentially lost all of that short
bullish momentum and over the next one
to two days or so at least we should be
expecting either a short-term pullback
or at the very least a sideways
consolidation basically I’ll not be
expecting a significant amount of
bullish momentum at least in the
imminent shortterm here but remember the
short term is different to the longer
term so yes on the weekly time frame for
example we can still be in the larger
bullish Trend also known as the bull
market but just talking about the
day-to-day price action here in the
short short term once again just in the
short term I am looking a little bit
more bearish just based on this bearish
Divergence now actively playing out and
if we taking a look at the price of
salana on the 8 hour time frame what we
are now seeing is a potential retest of
this descending line of resistance which
could now act as a new support which is
sitting at around
$147 and so for as long as the price can
now hold above that level then that can
be bullish for the price if we actually
Bounce from that level then of course
that can further confirm the breakout to
the upside for this potential bump and
run reversal pattern but basically if
the price starts confirming candle
closes back below around
$147 then in that case that would
invalidate this breakout to the upside
and invalidate this bump and run
reversal pattern and also similar to
bitcoin and ethereum this short-term
bullish Divergence is essentially now
invalidated now that we’re seeing a bit
of a reversal here in The 8 Hour salana
RSI
and if we’re taking a look at the 4-Hour
time frame just recently we have now
officially confirmed the invalidation of
this breakout to the upsides because as
always if we break out above some
important resistance and then if we see
a break back below that level on the
chart that invalidates the breakout to
the upside and so essentially this
breakout was just a fake out and so as
of right now this Adam and Eve pattern
right here is invalid it is no longer
playing out we no longer have an active
bullish price Target for this pattern
right here and so once again when we’re
talking about just the short term right
now the only hope for the Bulls is to
hold this area right here and see a
bounce from around 147 at the lowest and
if you want to trade these moves in the
price of any crypto once again check out
those links down below this video if you
want to claim those extra bonuses and if
you want to actually know how to trade
crypto no matter if the price is bullish
bearish or chopping around sideways you
can profit from 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 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

BITCOIN DUMP: DON’T BE FOOLED (New Target)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 1:15
Ethereum Technical Analysis! 14:13
Solana Technical Analysis! 16:36

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*DISCLAIMER*
The information presented in this video is for educational and entertainment purposes only and is not financial advice. I am not a financial advisor. Trading can result in loss of funds. Individuals must consider all risk factors including their own personal financial situation before trading. All individuals are responsible for their own trades and investments. Crypto World, “Josh” and affiliates are not responsible for individual loss due to poor trading decisions or any other actions which may lead to loss of funds.

This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.

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– Crypto World –