BITCOIN BULLISH REVERSAL CONFIRMED!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN BULLISH REVERSAL CONFIRMED!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the c channel everyone my name is Josh and right now Bitcoin is finally breaking out to the upside from this massive bullish pattern as the price is now gaining bullish momentum while the price is also potentially forming a new pattern in the short term that we need to pay attention to so I’ll be talking about that in just a moment alongside ethereum and salana which are both playing out bullish divergences 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 3-day Bitcoin chart and as of right now the price of Bitcoin is still within a much larger bullish trend on the larger time frames also known as a bull market but as I always say during a larger bullish Trend we can see short-term pullbacks or short-term bearish Trends on smaller time frames during a larger bullish Trend that is possible and actually very normal and so basically those short-term pullbacks or short-term bearish trends are great buying opportunities not Financial advice but great buying opportunities to accumulate cheaper Bitcoin when the price of Bitcoin is still in a bullish Market on the larger time frames and around a month ago give or take when the price was sitting around all-time highs there were a lot of people asking for a pullback in the price of Bitcoin for an opportunity to finally buy Bitcoin at some cheaper prices and obviously we just saw over the last 1 to 1 and a/ half months or so we just saw a pullback from high to low low of around 23% so for anyone waiting for a pullback unless you literally just got into Bitcoin in the last one or 2 days once again that was the buying opportunity that I’ve been talking about over and over again here on the channel once again I’ve been saying that when the price is pulling back from high to low of around 20% from high to low or anything larger than that during a bull market usually those turn out to be great buying opportunities as we see time and time again more often than not when we’re seeing a 20% pullback from high to low those are decent buying opportunities obviously the price can go a little bit lower that’s always a possibility when we’re in the pullback but whether you’re buying when the price is 20% down from the local high or 23% down from the local high really those extra few percentage points are not really going to make a major difference especially if you’re buying and holding for the longer term and in case you just found out about Bitcoin as of right now the price is still on a discount from the all-time high it’s still currently down around 133% from high to low at the current price as of recording this video and so obviously that’s not as good of a deal as a few days ago but that is still better than buying at those all-time high levels and if we’re taking a look at this daily Bitcoin chart like I said in my last video the dxy the market is currently closed which means the dxy is not currently trading so we don’t really have any new updates over the last 1 to two days or so here for the dxy but once again as I’ve said recently here on the channel we’ve already started to see a decent pullback in the dxy and the moment we started to see that in the dxy the Bitcoin price started to flip bullish as expected because as you can clearly see on this chart and this happens throughout bitcoin’s history time and time again when the dxy is bearish that is almost always bullish for the price of Bitcoin and when the dxy is bullish that is quite often bearish for the price of Bitcoin and so when the dxy reverses from bullish into the bearish direction that tells us that we’re likely going to see a bullish Trend reversal for Bitcoin here in the short term out of a short-term bearish Trend into a new short-term bullish Trend which is basically another leg to the upside in the larger bull market and if we’re taking a look at this daily Bitcoin chart looking at the daily Bitcoin RSI we have now confirmed another daily candle close with the RSI Above This descending line of resistance and so as of right now the RSI has indeed further confirmed the breakout to the upside which is once again a bullish signal for Bitcoin because this is a sign of strength for the price gaining more bullish momentum and we can simply take a look at the last couple of times this has happened in the daily Bitcoin RSI basically seeing a breakout above a major descending line of resistance and in both of those previous examples they were both sitting roughly around reversal point in the price from a short-term pullback or short short-term bearish Trend into the next leg to the upside for the bull market just before we saw some major bullish price action and what we are also seeing right now in the daily Bitcoin macd is also a bullish reversal in the macd in the histogram right now this is Crossing in the bullish Direction showing an increase in bullish momentum and we were already starting to see a bit of a bullish Divergence between the histogram in the macd and the Bitcoin price even during the pullback because basically as the price of Bitcoin was pulling back here in the short term we were actually seeing less and less bearish momentum here in the macd and so that basically meant as the price was pulling back we were actually seeing the Bears get weaker and weaker which meant basically the price failed to go any lower because the Bears were getting very weak and that was also showing up in other indicators that I was also sharing recently here on the channel like negative funding rates for example when funding rates are negative that basically means a lot of the market is short and not many people are looking to Long the market and that can often put the short positions also known as the Bears basically on the back foot because they’re having to pay those extra high fees to keep their shorts open but once again we’re now seeing the momentum flip in the bullish Direction with now a bullish cross here in the daily Bitcoin macd and if we’re looking at the last couple of significant bullish crosses here in the macd where we’ve seen a significant amount of bullish momentum once again both of those previous bullish crosses right here occurred just before another leg to the upside in the price of Bitcoin basically more bullish price action and so as of right now we are seeing multiple patterns and indicators across different time frames all line up together pointing in the bullish Direction and so once again we’re seeing the bullish cross in the daily Bitcoin macd we’re seeing a major breakout in the daily Bitcoin RSI we’re seeing a bullish reversal for the dxy or I should say a bearish reversal for the dxy which is bullish for Bitcoin and on top of all of that we are also potentially now seeing a confirmed breakout here in the price of Bitcoin from this bullish falling wedge pattern also on the daily time frame and as of right now we have seen one initial candle close on The Daily time frame only just above this descending line of resistance so ideally it would be even better if we see this second daily candle close well above this line of resistance which by the way is sitting just below 60 4,000 and so basically if this daily candle closes anywhere near 64,000 or above 64,000 then that would be extra confirmation confirming this breakout for the bullish falling wedge and in that case if we see this extra confirmation with that extra daily candle close in the green then in that case once again that will set up a bullish price target for this pattern that I’ve talked about recently here on the channel and that price Target is basically these local highs in between around 72,000 to 74,000 but between now and then we could find some resistance at around 67,000 so keep that in mind but basically I would indeed be targeting 72 to 74,000 if we further confirm this breakout above 64,000 and even if the price kind of fails to break out initially in the short term and we see another short-term pullback of some sort even in that case that could potentially just set up another bullish pattern here on the 4 hour time frame because at least as of right now the price of Bitcoin is potentially forming a new inverse Head and Shoulders pattern on the 4H hour chart but as of right now it is not yet complete or confirmed because as of right now we’ve already formed the left shoulder and the head but we have not even formed the right Sher let alone confirming a breakout and so basically in order to actually confirm this bullish pattern right here we would actually need to see a bit of a pullback first of all in the short term down towards around 62 to 6 3,000 and then we’ll have to bounce somewhere around there come back up and then break out Above This neckline sitting at around 64.7 to 64.8k and so once again if we do not see that right shot of form or if we do not see that eventual breakout above the neckline after forming the right shoulder then this new potential inversee and shoulders pattern that’s forming right now will not actually confirm or come into play but if we do end up confirming the right shoulder with a short-term pullback and and then confirming a breakout Above This neckline that I just mentioned then in that case that will set up a bullish price target for this inverse Head and Shoulders pattern which would be sitting at around 73.7k and so once again it would give us a similar price target for this falling wedge pattern breakout right around these local highs and as for my trading strategy right now honestly over the last couple of days it has not changed as I’ve been saying since much lower prices I’m still holding and accumulating a long position as of right now I’m not accumulating any more of a long position I was doing that at lower prices as I said on this channel back then and as of right now this is still currently a 250k Bitcoin long position sitting around $21,000 in profits and once again especially if we confirm this breakout with extra candle close above this line of resistance then in that case I would simply look to continue to just hold that long position because obviously if we’re confirming this breakout and setting up those higher price targets then it makes sense to continue holding that long position especially if I’ve accumulated that position at lower prices and so that’s my trading strategy right now just to hold that Bitcoin long position and perhaps if we struggle around an important area of resistance I may take some short-term profits from that position or as the price moves further into profits I may move my stop- loss further into profits because usually that’s what I end up doing when it comes to my Bitcoin trades as always not Financial advice I’m just sharing my Trading strategy that’s working for me and if you want to actually take trades like this yourself to make a lot of easy profits in crypto then make sure to check out the links down below this video first of all right here I’m trading over on buybit so I’ll make sure to leave a link to buybit down below this video 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 $330,000 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 you can only claim this free 200 usdt airdrop if you actually use the link down below this video to make a buybit account and deposit on that 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 bybit but you don’t need kyc for bit flex and so I will also make sure to leave a link to bit flex 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 right now we still have some short-term liquidity just above the current price at around 64.7k to 65k and if we’re zooming out to a larger time frame we can see even more liquidity at around 67.3k to 67.6k approximately and so basically right at around 675,000 so right at around this previous high in the price there is a lot of liquidity billions of dollars of liquidity sitting around those prices and so that means once the price of Bitcoin eventually crosses above 67 a. 12,000 billions of dollars of short positions will get liquidated which can send the price much higher in a major short squeeze and on top of that we also have more liquidity in between around 71 6K to 72k approximately and usually the price of Bitcoin moves towards where there’s most liquidity because basically the price moves very quickly when there’s low liquidity and so usually when there’s big players in the market buying and selling Bitcoin essentially those big players either buy or sell Bitcoin and for example right now when they’re buying Bitcoin basically it’s very hard not to push up the price of Bitcoin when there’s low liquidity in a certain region on the chart and so usually the price moves towards where there’s a lot of liquidity because a lot more transactions a lot more larger transactions can occur around those High areas of liquidity and so that’s why if the price of Bitcoin eventually confirms a breakout as well Above This previous High not just above this resistance above that high right there we could flip very bullish very quickly if we start breaking out above 675,000 and if we’re taking a quick look at the Bitcoin and crypto funding rate across multiple exchanges right now they are currently still sitting below neutral which is basically bullish for Bitcoin and crypto and I’ve talked more about the funding rates in my last few videos here on the channel so if you’re new to all of this and you want to know why the funding rates are bullish when they are below neutral then check out my last few videos here on the channel to find out more and with that being said taking a look at ethereum on The Daily time frame right now the price of eth is still continuing that short-term Bounce from this level of support which is sitting at around 2.9k and as of right now this line of resistance is also sitting just above 3.3k and so we still have a way to go before eventually confirming this breakout like Bitcoin and so basically the price of ether right now is lagging behind Bitcoin so basically what Bitcoin is doing right now the price of eth is just kind of following along but a little bit slower than what Bitcoin is doing and if we eventually confirm this breakout for the price of eth above 3.3k or more specifically around 33 50 then in that case that would set up a bullish price Target at around these local highs which is sitting at around 4,000 to 4.1k and if we’re taking a look at this 12-hour time frame we are also seeing a major bullish Divergence playing out with lower lows in the price in the candle closes and higher lows here in the 12-hour ethereum RSI and considering this is on the 12h hour time frame this could potentially play out over around 1 to 2 weeks or so and usually a bullish Divergence plays out in the form of either a bullish relief or at the very least a sideways consolidation as the most likely outcomes and as for support and resistance we have major support in between 2850 to 2950 and as for resistance we have resistance in between 3.2k to 3250 more resistance at around 3350 more resistance in between 3470 to 3530 and another significant level of resistance at around 3650 and in order to become more confident that we’re actually flipping more bullish again in terms of the short-term Trend here we ideally need to see at least a couple of confirmed breakouts here above these levels of resistance that I just mentioned because until we actually start confirming a breakout for example above 3250 and 3350 until we actually see those confirmed breakouts above those levels for all we know the price could still simply be within this choppy sideways price range but believe it or not you can still make a lot of easy profits in choppy sideways price action just like this and if you want to know how to do that then stick around to the end of this video to find out more but first taking a quick look at the price of salana on the 8 hour time frame and right now similar to eth on the 12-hour time frame the price of salana here on the 8 hour time frame is playing out a major bullish Divergence with lower lows in the price in the candle closes and higher lows here in the RSI and so like I said yesterday this means that we’re most likely going to see either a bullish relief or at least a sideways consolidation as the most likely outcomes potentially over the next 1 to two weeks or so and we’re also still just breaking out Above This descending line of resistance which was sitting at around 144 and as of right now the price is trading slightly above that previous line of resistance and so when it comes to support we should find new support once again along this line of resistance right here which sitting at around 143 as of right now but in a more bearish scenario if the price actually broke back below 143 with confirmation then in that case we have this major area of support in between 120 and 128 and as of right now obviously salana still has resistance above the current price for example we have this price range in between around 150 to 15 155 we also have this level of resistance based on this high at around 160 and another area of resistance based on previous support sitting in between 167 to 172 and so those levels and areas of resistance on the chart is where the price is most likely going to struggle at as the price continues further to the upside and once again if you want to trade these moves in the price of any crypto check out those links down below this video 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 chopp 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 press action using long positions or short positions and the video in the bottom left shows you how you can easily profit from choppy sideways press 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 BULLISH REVERSAL CONFIRMED!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Important Bitcoin Analysis! 0:00
Ethereum Technical Analysis! 13:48
Solana Technical Analysis! 16:10

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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.

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