BITCOIN CRASH OVER (Reversal Signal)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN CRASH OVER (Reversal Signal)!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin is still playing out this short-term bullish Divergence as a new signal is flashing on the larger time frames that could change everything so I’ll be talking about that in just a moment alongside ethereum which is still forming this pattern that we need to pay attention to while salana is now about to run into a critical level of resistance so I’ll be talking about all of that and more later in the video so definitely watch to the end first of all but just before getting into the Bitcoin charts today first we need to talk about the Bitcoin ETF news because if we’re looking at Monday Tuesday and Wednesday all three of those days have been net outflows and if we’re looking at the Monday and the Tuesday they were relatively small net outflows but Wednesday was a massive net outflow in fact that was the largest net outflow we have ever seen in a single day from the spot Bitcoin ETFs in the US because just on Wednesday we saw a net outflow of 5637 million us which means over half a billion left the Bitcoin ETFs just on Wednesday and so in other words this massive net outflow on Wednesday caused massive selling pressure on Wednesday which did indeed affect the price of Bitcoin in a bearish way and so in case there’s anyone out there that’s still thinks the Bitcoin ETFs do not impact the price of Bitcoin well this was yet another example on top of many different examples of the Bitcoin ETFs having a major effect on the price of Bitcoin depending on the inflows and the outflows and now if we see for example a $50 million net outflow or inflow $50 million is not really going to have a major effect but a $500 million inflow or outflow on a single day that can have a major effect in the price of Bitcoin as we saw on Wednesday we saw a major dump on Wednesday once again due to this major selling pressure from the Bitcoin ETFs but obviously since then we have seen a bit of a short-term bounce back to the upside and as of right now the 3-day candle close is sitting right around that 23.6% Fibonacci level at around $60,000 and so at least at the time of recording this video we do not yet have a lot of confirmation of a break to the downside on the larger time frames like the 3-day chart or the weekly chart with candle closes on these larger time frames below 60,000 but if we do end up confirming a break to the downside on the larger time frames with larger candle closes like the 3-day in the weekly chart larger candle closes below $60,000 then in that case we could likely see a move to the next major Fibonacci level of support which is sitting at around 51 to 52,000 but once again there’s still a possibility that just in the short term here the price could potentially reclaim that 60k level and if it does it very soon then we may not actually see those 3-day candle closes or weekly candle closes below 60,000 if we can reclaim that level soon and if we’re taking a look at this 3-day Bitcoin chart obviously the larger Trend at play is still technically a bullish Trend forming significant higher lows and higher highs on the larger time frames but once again as I always say it’s important to understand the difference between the different time frames so in the short term from dayto day we can flip bullish on bearish multiple times in the short term obviously that’s talking about short-term price action but when we’re talking about the larger Trend at play on the larger time frames I’ve been bullish this entire time basically since the beginning of 2023 I’ve been non-stop bullish on the larger trend on the larger time frames you can even take a look at my videos all the way back then and unfortunately even though I explain the concept of different time frames in basically every single one of my videos there’s still some people out there that don’t really understand the difference between the different time frames they cannot actually understand that concept and so just to put it into simple terms let’s just say if I was bearish over the next 1 month on the price of Bitcoin I’m not saying that that’s definitely going to happen but just for an example let’s just say if you were thinking the price of Bitcoin is going to go to say 55,000 in the next few weeks but in the next year you’re thinking the price is going to go to 100,000 then in other words that would be short-term bearish your short-term bearish on the price of Bitcoin but you’re bullish over the longer term and so in other words on smaller time frame frames you would be bearish and on larger time frames you would be bullish in that example and also another thing to notice about the different time frames is the smaller the time frame the more often the price changes Direction in terms of trend and momentum and the larger the time frame the less often the trend and momentum actually changes and so once again when we’re talking about the larger Trend at play also known as the bull market I’ve been bullish this entire time for well over a year now on the channel but once again in the short term on smaller time frames the trend and Direction can change more often so for example if you’re looking at the 1H hour chart one day we could be bullish the next day we could be bearish and that’s just the nature of smaller time frames and so when you’re noticing in these videos that I’m changing between bullish and bearish you also have to notice what time frame I’m actually talking about and so once again on the larger time frames I’m still bullish as I’ve been saying since below 20,000 but if we’re taking a look at this daily Bitcoin chart we are potentially seeing a bit of a reversal a bit of a flip here in the dxy because as of right now and just over the last one day or so we’ve actually seen a further pullback to the downside in the dxy which is something important to take note of because if we’re looking at this chart on The Daily time frame usually when the dxy is bearish at least in the short term that is bullish for Bitcoin and crypto and vice versa usually if the dxy is bullish that is often bearish for Bitcoin and crypto or at the very least neutral for Bitcoin and crypto and so once again if this pullback actually continues here in the dxy as we’ve seen just over the last one day this could be a continued bullish signal moving forward for Bitcoin and crypto and just over the last one day with this drop to the downside in the dxy we have seen a bit of a bounce back to the upside just in the much shorter term here for the price of Bitcoin and as always I’ll be sure to keep you up to date on what’s Happening Here in the dxy and many other important charts in these videos every day so 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 zooming into the shorter term looking at the 2hour Bitcoin chart we can see right now the price is still playing out that bullish Divergence that I talked about in my last video because once again as I said yesterday right around here we had already confirmed lower lows in the price in the candle closes and higher lows in the 2hour Bitcoin RSI and so like I said yesterday we’re most likely going to see either a bullish relief or at the very least a sideways consolidation basically I’ll not be expecting a lot of bearish momentum or bearish press action over the next 1 to two days or so as the most likely outcome and obviously since then we have been seeing this bullish Divergence play out exactly as expected here in the short term and this is most likely going to continue to play out at least over the next day or so and now it could play out a little bit longer than that but basically after it’s already been a few days after a bullish Divergence only on the 2hour time frame i’ not necessarily become overly confident or overly reliant on that bullish Divergence after a few days and so once again in order to start flipping much more bullish again in the short term we ideally need to see other bullish signals confirm like for example a further pullback here in the dxy that will be another bullish signal to potentially watch out for but as I mentioned in my last video anyway my short-term trading strategy right now for Bitcoin is to Simply scale into a long position and with this move to the upside just over the last one day my current bitcoin long position is sitting slightly in profits but basically if we continue further to the upside obviously that would be good news for the long position but if we actually dropped back to the downside essentially I’ll just continue slowly scaling into that position with more buy orders to the downside because basically this is a relatively low leverage position and essentially I’m just catching this as more of a swing trade as we’re potentially approaching more of the limit for this pullback once again we could potentially bounce here or we could go to that 52 or 51k level and then bounce either way if we bounce somewhere around here then that is really good news for my long position but as always that is not personal financial device that’s just letting you know my trading strategy right now and in case you’re wondering personally I take those trades over on buybit so I’ll make sure to leave a link to bybit in the description down below and in the PN comment and if you use that link down below this video to make a buybit account and deposit on that account then 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 but you can only claim this free airdrop if you actually use the link down below this video to make a buybit account and so if you’re going to be trading crypto anyway you might as well check this 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 kic for bitflex and so I will also make sure to leave a link to bitflex down below this video as an alternative crypto exchange and if we’re taking a quick look at the Bitcoin liquidation heat map we can see a massive amount of liquidity to the upside at around 65,000 approximately and now we do have some smaller levels of liquidity here and there in the short term for example we do have some downside liquidity at around 565,000 and we also have a small amount of liquidity at around 61.8k and some more liquidity at around 62.7k but really just in the short term here the major level of liquidity to pay attention to is once again sitting at around 65,000 approximately and so basically once the the price of Bitcoin eventually crosses above 65k that will liquidate billions of dollars of short positions which could potentially sends the price a lot higher in a short squeeze and so just keep that in mind there’s currently a lot of liquidity above the current price which could potentially pull the price higher towards that liquidity and also if we’re taking a look at the Bitcoin and crypto funding rates across multiple different exchanges right now the Bitcoin funding rates as of right now are looking extreme L negative in fact at the time of recording this video on basically every single major exchange the Bitcoin funding rates are sitting in negative territories which is actually very bullish for the price because basically this means that even though the price is currently bouncing in the short term there are a lot of Traders out there wanting to short Bitcoin and not many people wanting to Long Bitcoin and this is getting to a point where there’s so much of an imbalance between the Longs and the shorts where essentially the funding rates are now negative which basically means the short positions are having to pay these funding rates as a fee to the long positions and so for example with myself being in a long position right now I’m actually getting paid essentially passive income in the form of fees from the short position so anyone in a short position right now is basically paying me fees because the funding rates are sitting in negative territories and so basically these funding rates are incentivizing new long positions to open and existing short positions to close close and when shorts close that adds buying pressure and when Longs open that also adds buying pressure and so once again this is why negative funding rates are considered bullish and this is also a major ingredient of a potential short squeeze if the price pushes higher in the short term then once again that could potentially start liquidating short positions which pushes the price even higher but with that being said getting into the ethereum part of this video this is on the weekly time frame and right now the price of eth is still holding above that 38.2% Fibonacci level of support which is sitting at around 2860 to 2870 approximately so just below 2.9k and so over the last one day not much has really changed on this weekly eth to us doll chart and if we’re taking a look at this daily eth to us doll chart over the last one day we are now seeing a bit of a bounce to the upside from this descending line of support and this line of support is sitting right at around 2890 so very close to 2.9k which once again is an important level of support to pay attention to and now if we actually see a move back up towards this line of resistance like what we’ve seen in the past then basically this line of resistance is sitting currently at around 3.3k and in order to actually confirm this potential falling wedge pattern that’s forming right now to set up the bullish price Target we would actually need to see a confirmed breakout above that resistance which obviously as of right now has not happened and so at least for now in terms of the shortterm trends here just on the daily time frame we’re still currently trending in the more bearish Direction basically in a bit of a correction at the moment in the market but once again in the imminent short term we’re currently bouncing from that important level of support and when we’re zooming out on much larger time frames that short-term correction is still potentially occurring within a much larger bullish Trend and if we’re taking a look at the 8h hour time frame once again we’re bouncing from this critical area of support sitting in between 2850 to 2950 and also bouncing from oversold territories here on the 8 hour time frame and so we are potentially still in this choppy sideways price range as we’ve seen in the past we’ve seen multiple drops to the downside and then bounces back to the upside from this area of support and rejections from this area of resistance which is sitting in between around 3.2k to 3250 and we also have more resistance at around 3350 and I would also expect some short-term resistance at around 3.1k based on previous support and resistance and other than that not much has changed on this 8h hour time frame over the last one day so if you’re new to the channel and you want to know more about this chart right here then check out my last video here on the channel and if we’re taking a look at Salada on the 8 hour time frame over the last one day we’ve seen a continued bounce to the upside in the short term from this exact area of support which will sitting in between 120 to 128 8 and not only did we Bounce from this area of support in the price chart we also bounced exactly from oversold territories in the RSI which is something else that I also talked about in my last video but right now with the price bouncing back to the upside in the short term we need to pay attention to resistance levels first of all we have this descending line of resistance which is sitting at around 145 and we have this area of resistance in between 150 to 155 and another level of resistance at around 160 and so in order to become much more bullish again in terms of the short-term Trend we need to ideally start breaking out above these levels right here and ideally Above This previous high at 160 in order to actually start flipping more bullish again in the shortterm in terms of the trend but if we fail to do that if we actually see a rejection once again from this descending line of resistance or from one of these other areas of resistance and basically drop back to the downside then in that case once again we have this area of support that I just mentioned but below 120 we also have this significant area of support sitting in between around 99 to 106 and so once again the situation right now in the short term is right now the price of salana is in the middle of a bounce to the upside in the imminent short term during a short-term bearish Trend until proven otherwise but when we’re looking at larger time frames like the weekly time frame for example this short-term bearish trend is basically just a minor pull pull back within a much larger bullish Trend and if you want to actually trade these moves in the price of any crypto 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 CRASH OVER (Reversal Signal)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 2:02
Ethereum Technical Analysis! 12:22
Solana Technical Analysis! 14:46

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