BITCOIN BREAKOUT SOON?! (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN BREAKOUT SOON?! (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto channel of your own my name is Josh and right now Bitcoin is buting from critical support as the price is now playing out a new signal in the short term while ethereum is now forming a new pattern in the short term that we need to pay attention to 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 before we take a look at the Bitcoin charts today we need to once again talk about the bitcoin news today because just yesterday we saw another net outflow from this spot Bitcoin ETFs this time it was a net outflow of over $150 million and so once again as I’ve said recently here on the channel when we’re seeing these decent sized net outflows that is essentially selling pressure that is the Bitcoin ETFs dumping Bitcoin on the market so while we’re seeing these decent size net outflows of course it’s unlikely we’re going to see a significant amount of bullish price action we can see short-term bullish price action here and there but it’s likely we could stay a little bit more bearish while we’re seeing these decent net outflows and so that is simply the situation at the moment with the Bitcoin ETFs and as we’ve seen over the last 1 to two weeks or so as I’ve actually been sharing here on the channel over the last one to two weeks or so and with that being said taking a look at the Bitcoin charts today looking at the 4-day Bitcoin chart and as of right now nothing has really changed on this chart right here 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 because in that video I talked more in detail about this chart right here and if we’re taking a look at this daily Bitcoin chart what’s very interesting is just in the imminent shortterm right now we’re actually starting to see a little bit of a drop off in the dxy which if that drop off actually continues that will be a bullish signal for Bitcoin but at least for now currently this is only a bit of a short-term pullback in the dxy and of course we did see a previous short-term pullback within this move to the upside in the dxy so we need to see more of a pullback here in the dxy to be more confident that this is actually flipping more bearish again which once again would be bullish for Bitcoin and so at the moment this is just something to pay attention to in case we do end up seeing a further pullback in the dxy but once again at least for now we’re technically still trending more in the bullish Direction in the dxy which once again is bearish for the trend in the price of Bitcoin here on the daily time frame once again as I’ve been warning about basically every day over the last 1 to two weeks and in my last one to two videos I was getting some comments saying why didn’t you warn about this crash or this bearish price action before it actually happened and clearly those people commenting were not on this channel around a week ago because around one to two weeks ago I was already warning of bearish price action and closing my long position up at higher prices before we saw the most recent bearish price action and if we’re taking a look at this daily Bitcoin chart once again as I’ve been saying since all the way back here technically speaking we’re looking more bearish than bullish in the short term because as of right now we have broken below that previous significant area of support which at that point that was the moment to flip shortterm bearish as I did around a week ago give or take and ever since that point at 67,000 we continued the short-term pullback as expected exactly down to this next area of support that I was also warning about back then and this area of support is currently sitting in between around 63 to around 64 ,000 and right now we’ve actually seen a bounce very close to $64,000 and so at least for now that area of support is the support to pay attention to here on the daily time frame at least in the shorter term and this support is based on previous support and resistance in the price action and also a cluster of support a cluster of traded volume in the volume profile indicator the vpvr and of course this cluster up here in between around 67 to 68,000 is as strong resistance as we’ve seen just here and so it’s possible that just in the short term here possibly over the next 1 to two weeks or so we could end up just consolidating sideways seeing some short-term bearish and short-term bullish price action chopping around within this sideways price range kind of similar to what we saw back here for example or back here for example and so once again we’re technically looking more bearish than bullish just in the short term here but we could be potentially entering into a bit of a short short-term consolidation during this pullback that we’re in at the moment because we are finding support in this region and of course we’re still finding resistance in this region and one of the reasons as to why we could see a bit of choppy sideways price action here in the short term bouncing around in this sideways price range is due to the fact that we have a new bullish Divergence here on the 3-hour Bitcoin chart because as of right now we’ve confirmed a new lower low in the price in the candle closes on the 3-hour time frame while confirming a new higher low in the 3-hour Bitcoin RSI which once again is a bullish Divergence pointing towards perhaps a slight bullish relief or simply some choppy sideways price action here in the shorter term potentially over the next few days but keep in mind while we’re still during the week on a weekday of course we’re likely going to see more volatility compared to on a weekend so as we’re approaching the weekend of course on the weekend we could see reduced volatility because that’s what we usually see over the weekends as we can see in these areas on the chart right here and so potentially if we see some more choppy sideways price action during the week it could be a little bit more violent as we’ve seen right here or right here for example but then it will likely calm down over the weekend as the most likely scenario and if you want to actually trade any of these moves in the price of Bitcoin or any other crypto personally I take my trades over on bybit so I’ll make sure to leave a link to bybit down below this video in the description and in the pinned 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 so if you’re going to be trading crypto anyway or if you’re preparing to take the next trading opportunity you might as well get set up ready to go over here using that link if you want to claim this massive extra bonus but for whatever reason if you cannot access buybit or if you cannot kyc on buybit there is also bitflex which is another crypto exchange similar to buybit but you don’t need KY for bitflex and so I’ll 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 actually have a massive level of liquidity building to the upside here in the shorter term sitting right at around 67.4k to 67.5k and as of right now there’s close to a billion dollar of liquidity a billion of liquidations sitting right at that level and so it’s possible that with the combination of this bullish Divergence at the moment and that massive level of liquidity that could draw the price towards that level it’s possible that perhaps within the next few days we could see a slight relief towards that level but once again overall we’re technically within a short-term pullback or bearish Trend so I don’t necessarily expect a significant bullish movement that is not what I’m saying I’m simply saying we could see a slight bullish relief within this sideways price range to potentially play out some more choppy sideways price action but once again overall the shortterm trend is currently technically still bearish and with that being said taking a look at ethereum on The Daily time frame and just over the last one day we actually saw the daily candle close right on this 38.2% Fibonacci level of support which was sitting at around 3480 so as of right now we’re still finding some support at that level but of course we did see that massive candle wick to the downside that found support pretty much exactly at the next retracement level this 50% retracement level which is sitting at around 3350 also acting as support and as for resistance here on this daily time frame we still have strong resistance closer towards around 3650 approximately as we’ve seen just here a couple of days ago and so ultimately ethereum at the moment at least in the short term is kind of within a sideways consolidation once again playing out some choppy sideways press action during this larger pullback this short-term bearish Trend because of course during a bearish trend we can see some sideways consolidations here and there just like how during perhaps a short-term bullish Trend we can see some shortterm pullbacks along the way during a bit of a bullish Trend and so it’s simply important to pay attention to the support and resistance levels here on the daily chart and also this 12-hour time frame which right now we’re still finding a lot of resistance right around this golden pocket area of resistance sitting in between around 3.6k to 3650 but but what we are now seeing on the 12-hour time frame is first of all a new lower low just recently confirmed in the price in the candle closes while higher lows are currently forming and actually now confirmed in the 12-hour ethereum RSI so once again this is indeed a new bullish Divergence which has recently just confirmed and so like I said earlier for Bitcoin a bullish Divergence means we’re most likely going to see a bit of a break in the short term from that short-term bearish Trend so usually these bullish divergences player in the form of either a slight bullish relief or perhaps just some choppy sideways price action as the most common outcomes the most likely outcomes from a bullish Divergence at least over the next few days here but this bullish Divergence by itself is not necessarily enough to fully confirm that the short-term bearish trend is over so once again it’s possible for example that we could play out a bit of a sideways consolidation or slight bullish relief before rejecting from resistance perhaps and continuing the bearish later on that is a possibility and if we’re taking a look at this 8 hour time frame we can see right now the price is potentially either forming a falling wedge pattern or a descending triangle either way we have a descending line of resistance and we have a very slightly descending line of support that could be almost a horizontal line of support but either way we still once again have that short-term bullish Divergence also visible on this 8 hour time frame just like this 12h hour time frame and ultimately if the price actually breaks out Above This resistance right here of course in the short term that would be a bullish signal just in the short term and as of right now that line of resistance is sitting at around 3590 but we still need to keep in mind that we have that strong area of resistance in between 3.6k to 3650 so ultimately in order to actually start flipping much more bullish again we really need to see a breakout above 3650 which as of right now has not happened but if we do end up seeing a breakout Above This resistance and ideal breaking out above 3650 then in that case I would expect to move at least up towards these highs right here so basically the mid 3800 range around 3800 to 3900 around halfway in that range right there so basically around these highs as the next price Target if we see a breakout above 3650 which once again right now has not happened and if we’re taking a really quick look at ethereum versus Bitcoin on the weekly time frame over the last one day we did see a slight bounce on this ch in the short term But ultimately we have not yet fully confirmed any bullish Trend reversal on this chart right here because technically speaking at least as of right now we’re still seeing lower highs and lower lows and rejections from this massive descending line of resistance and so until we actually see a confirmed breakout from this descending line of resistance right here and ideally a new higher high set in place in the price of eth versus BTC eth BTC until we actually see that confirm on this chart right here at least for now Bitcoin should still be outperforming ethereum overall in terms of the larger scale here and once again we can only expect ethereum to start massively outperforming Bitcoin if we see a confirmed breakout on this chart right here which as of right now once again has not happened and if we’re taking a quick look at the price of salana just recently we’ve also formed a new bullish Divergence for salana here on the 8h hour time frame with a new lower low confirmed in the price in the candle closes and higher lows also forming and initially confirmed here with a couple of candle closes in the RSI but of course we’re still finding a lot of resistance around this previous area of support which I said in my last video expect resistance in between 140 to 144 now that we’ve broken below that level usually if we break below support that becomes new resistance so as expected we are finding resistance exactly in that price range but due to the fact that we have an active bullish Divergence right here but we’re still finding resistance right here where most likely going to see a bit of a sideways consolidation at least just in the imminent short term here possibly over the next few days just some choppy sideways price action during this short-term bearish Trend and as for other levels of support and resistance we still have a lot of support in between 120 to 128 which is pretty much exactly where we saw abouts from just the other day and even if we confirm a breakout above around 144 the top side of this area of resistance even if we break out above that level we still have a lot of resistance at around 160 and I would only flip much more bullish again for salana in terms of the short-term Trend and momentum if we break out back above 160 and so ultimately in terms of the overall trend and momentum just in the shorter term here obviously things are still looking bearish at least as of right now but just for the next few days we’re likely going to see a bit of a break from that short-term bearish Trend potentially a sideways consolidation and once again if you want to trade any of these moves in the price of any crypto check out those links down below this video to claim these massive extra bonuses and if you want to know how to trade crypto no matter if the price is 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 he he can easily profit from choppy sideways price action but anyway that is everything that they have to save for today I really hope you enjoyed and I’ll see you all in the next video

BITCOIN BREAKOUT SOON?! (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin News Today!! 0:00
Important Bitcoin Analysis! 1:13
Ethereum Technical Analysis! 7:35
Solana Technical Analysis! 12:15

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