BITCOIN DUMP OVER? (Not What You Think)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN DUMP OVER? (Not What You Think)!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto channel of you’re own my name is Josh and right now Bitcoin is rejecting further from this line of resistance while the price is now running into a critical area of support So in just a moment I’ll be giving you an update on my trading strategy alongside ethereum now running into critical support alongside salana now actually retesting a critical line of previous resistance now acting as new support so I’ll be talking about all of that and more later in the video so definitely watch to the end first of all just giving you a quick update on the 3-day Bitcoin chart and as of right now the price of Bitcoin is technically still within a larger bullish trend on the larger time frames because as of right now we have not yet broken or reversed the higher low higher high price structure when we’re talking about the significant lows and highs on the larger time frames but obviously as I always say it’s important to understand the difference between the different time frames so even though we’re technically within a larger bullish trend on the larger time frames we can see short-term pullbacks and short-term bearish Trends during a larger bullish Trend but as I also said in my last video we potentially have a hidden bullish Divergence here on the chart with lower lows in the RSI and higher lows in the price of Bitcoin and there’s some people that are still confused between bullish and bearish divergences so basically if we’re talking about the lows in the price of Bitcoin and the lows in the RSI so a Divergence between the lows then it doesn’t matter if we’re talking about lower lows or higher lows either way if we’re talking about the lows that is always a bullish Divergence but if we’re talking about a Divergence between the highs so for example higher highs in the price and lower highs in the RSI or higher highs in the RSI and lower highs in the price either way if we’re talking about the highs that’s always a bearish Divergence and so once again because we’re talking about a Divergence between the lows in the price and the RSI this is a bullish Divergence and more specifically it’s a hidden bullish Divergence not a traditional bullish Divergence and basically a hidden bullish Divergence is usually weaker than a normal bullish Divergence but it kind of works with the trend and in this case the trend is bullish so basically hidden bullish divergences are usually Trend continuation patterns and with that being said taking a look at this daily Bitcoin chart and as of right now the dxy obviously over the last couple of days did Spike to the upside as I mentioned over the last couple of days but just now we’re seeing a very very slight pullback in the dxy today so it is still worth paying attention to what’s happening here in the dxy because like I’ve said over and over again here on the channel usually when the dxy is more bullish that is usually more bearish for Bitcoin and crypto and vice versa if the dxy is bearish that is quite often bullish for Bitcoin and crypto when we’re talking about the larger moves on the the chart and we can see around a week ago give or take when we had a big drop to the downside in the dxy that resulted in a short-term pump in the price of Bitcoin over the next couple of days after that dxy drop actually printed on the chart and then as we’ll seeing this bounce back to the upside in the dxy just over the last few days once again this resulted in a short-term pullback in the price of Bitcoin and so as always I’ll be sure to keep you up toate on what’s Happening Here in the dxy and many other important charts in these videos every day so make sure you sub subscribe to this Channel with notifications turned on so that you don’t miss out on any of these important update videos and with that being said taking a look at this daily Bitcoin chart and as of right now the daily Bitcoin RSI is actually retesting this previous line of resistance which should now act as new support and we saw this previously all the way back here during around mid to late September we saw a breakout here in the daily Bitcoin RSI Above This descending line of resistance and then around a week or two later we actually came back down for a retest and while that retest was happening in the RSI retesting this previous line of resistance to flip it into new support we were actually seeing a bit of a short-term pullback in the price of Bitcoin but at that stage the price of Bitcoin did not actually break below this previous low and so basically for as long as the price of Bitcoin can hold above this low which is sitting at around 56 to 57,000 give or take basically for as long as the price can hold above that low then we could could continue to see a move like this actually play out if we continue to see this breakout here in the RSI further confirm like what we saw back here but if we’re looking at the momentum right now as I said in my last video the momentum is already starting to fall flat here in the daily Bitcoin macd because first of all around half a week ago to nearly one week ago now we saw a bullish crossover in the macd indicator with the momentum starting to flip more bullish but over the last couple of days or so this bullish momentum has declined and so as of right now the momentum is looking relatively flat basically very neutral and it has not yet confirmed a bearish cross but it is moving closer towards a bearish cross and so basically right now the market and the price of Bitcoin is lacking momentum really to either direction so in terms of the trend at the moment we’re not really looking overly bullish or overly bearish in terms of the trend and momentum here in the short term and if we’re taking a look at this daily Bitcoin chart as of right now and as we’ve seen over the last few days obviously the price of Bitcoin is rejecting further from this line of resistance which I mentioned in my last video and this line of resistance is currently sitting at just above $63,000 and as of right now this descending line of support is sitting at around $58,000 approximately and so basically right now the price of Bitcoin is potentially still forming this massive falling wedge pattern and we’re still yet to see a strong confirmed Breakout out above this line of resistance right here and when it comes to support levels to watch out for we have some major support that we’re running into right now sitting in between around 60.5k to 61k based on previous strong support in the price but if we start breaking back below around 605,000 then in that case we could potentially fall back down to this area sitting in between around 58 to 585,000 and we also have this level of support based on this candle wick low sitting at around 565,000 to 57,000 approximately and so those are some important areas of support to pay attention to right now and once again as I’ve recorded this video we’re currently seeing a small Bounce from this important area of support but if we’re taking a look at the shorter term looking at the 4-Hour time frame we have potentially invalidated the formation phase for this inverse Head and Shoulders pattern because just over the last one day the price did obviously continue a bit more of a short-term pullback and now if we perhaps bounce basically right now back up towards the neckline there’s still a possibility that we could play out this pattern if that happens very very soon but basically if we don’t see a breakout straight away Above This neckline above around 64.8k at some point in the next 1 to two days or so then essentially we no longer have this potential inverse and shers pattern actually forming but obviously as I’ve also been saying recently here on the channel even though this PO potential pattern was forming it was never even confirmed because as always we need to complete the formation phase and then we actually need to see a confirmed breakout above the neckline in order to confirm the pattern and set up the bullish price Target and so when it comes to my trading strategy right now for the price of Bitcoin obviously I’ve been mentioning here on the channel since all the way back down here that I was scaling into a long position around these lows and as of right now I have actually taken a small amount of profits off the table for that long position because you can see on the left side that this was originally a $250,000 long and as of right now it’s only a $200,000 long position and so once again I have taken a small amount of profits off the table just in case we basically fail this long and continue the short-term pullback that’s just basically a bit of profits just taken off the table but as of right now I still actually have the majority of the trade still open with the stop- loss sitting in profits above the entry and so basically by doing that if we actually bounce back to the upside from now I still continue to profit from this trade if we do actually bounce back to the upside but in the worst case scenario if we just continue the pullback or crash right now that would hit the stop loss and close the trade in some slight profits and once again I have already taken some profits off the table as well and so even in this less ideal situation for a long position using some decent risk management by taking some profits and having a stop loss sitting in profits by using some decent risk management we can turn a not so good trade in into still a profitable trade and so if you also want to take trades just like this for yourself then make sure to check out this exchange which I’m trading on right now which is bybit and I’ll make sure to leave a link to buybit in the description down below and in the pinned comments 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 air drop position just by making a buybit account using the link down below this video making a deposit and claiming the airdrop 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 if you want to claim these extra bonuses or simply just get more information about all of this but for whatever reason if you cannot access bybit or if you cannot kyc on byit there is also bitflex which is another crypto exchange similar to buybit but you don’t need kyc for bitflex and so I will also make sure to leave a link to bit flex down below this video as on alternative crypto exchange and if we’re taking a quick look at the Bitcoin liquidation heat map obviously over the last one day we can see the price of Bitcoin took out more downside liquidity and we still have some liquidity to the downside at around 60.5k and other than that downside liquidity we do have a little bit more liquidity to the downside at around 585,000 approximately and other than that we do have upside liquidity at around 66,000 but if we’re zooming out to a larger time frame we still have those massive levels of liquidity to the upside mainly sitting at around 675,000 that’s where we have billions of dollars of liquidity and so once we finish taking out this short-term liquidity once we finish playing out this short-term pullback when we eventually see the price of Bitcoin at some point in the future cross above 675,000 that will liquidate billions of dollars of short position which can cause a major short squeeze further to the upside but with that being said taking a look at ethereum on The Daily time frame and right now the price of eth is still trading in between this support and this resistance potentially forming this massive falling wedge pattern and right now this support line is sitting at around 2850 and this line of resistance is sitting at around 3310 and so on this chart nothing much has changed over the last one day and so if we’re taking a look at the 12 hour time frame right now the price of eth is running into this critical area of support sitting in between 2850 to 2950 and so obviously it’s important for the price to bounce around this area otherwise we could potentially see a drop to much lower levels if we start breaking below around 2850 which as of right now has not yet actually happened and so for now the price of eth is potentially still just in a choppy sideways price range in between this support and this resistance obviously I’ll just make mentioned that support but for this resistance that’s still sitting at around 3.2k to 3250 and we also have a level of resistance at around 3350 and so similar to Bitcoin in the somewhat shorter term here on the 12-hour or the daily chart we’re actually looking relatively neutral at the moment basically lacking momentum to either direction which is why the price is basically just chopping around sideways but believe it or not you can make a lot of easy profits from 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 because seriously this type of price action is a gold mine in crypto but first taking a quick look at the price of salana and right now on the 12-h hour time frame salana obviously played out a rejection from this area of resistance that I’ve been talking about sitting in between 150 to 155 as we also have a level of resistance at around 160 and more resistance in between 167 to 172 but what we are now seeing is a retest of this previous descending line of resistance now acting as new support and that is sitting at around $140 approximately which I’ve also mentioned recently here on the channel and so for now that is the support to pay attention to which we’re finding support from right now and obviously we still have those areas of resistance where the price could still struggle at and so in that case if the price still struggles around these areas of resistance and we eventually break below this line right here then in that case we have major support down here in between 120 to 128 and also if the price dips a little bit further in the short term and then bounces back to the upside we potentially have a massive inverse hand and shoulders pattern here but once again as of right now that pattern is not yet confirmed because we actually need to complete the formation phase by seeing a bounce back to the upside at some point and then confirm a breakout above around 160 and so at least for now overall when it comes to bitcoin ethereum and salana at least in the somewhat shorter term here in terms of the trend and momentum right now the market is basically lacking momentum we don’t really have a strong amount of momentum or a strong Trend to either direction which is why Bitcoin ethereum and salana in the somewhat shorter term here are basically just chopping around sideways 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 chopping around sideways just like this 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 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 DUMP OVER? (Not What You Think)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Important Bitcoin Analysis! 0:00
Ethereum Technical Analysis! 11:03
Solana Technical Analysis! 12:38

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*DISCLAIMER*
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