BITCOIN DUMPED BY GOVERNMENT (Warning)!!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN DUMPED BY GOVERNMENT (Warning)!!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto channel of your own my name is Josh and right now Bitcoin is running into the final critical area of support and is now flashing a new signal that we need to pay attention to as the German government is now dumping a lot of Bitcoin on the market pushing the price closer towards a technical bare Market which I’ll talk about in just a moment alongside ethereum now flashing a new signal in the short term and breaking below critical support which I’ll talk about later in the video so definitely watch to theend first of all just before taking a look at the Bitcoin charts today we need to talk about the bitcoin news today because the German government is actually dumping a lot of Bitcoin on the market right now which is dumping the price of Bitcoin because at least as of right now the German government is actually holding over 4,000 Bitcoin worth over2 billion us and so far they are sending quite a lot of Bitcoin to exchanges dumping that Bitcoin right now on exchanges for example on coinbase tracking and bitstamp and this is simply based on onchain analytics because of course the Bitcoin blockchain is transparent we can see every single transaction that’s happening on the Bitcoin blockchain including where the German government actually got this Bitcoin on you can see all of this information online because Bitcoin is completely transparent and based on onchain analytics the German government is set to sell potentially up to $175 Million worth of bitcoin which once again can actually dump the price of Bitcoin at least in the short term but like I just said earlier the German government is still holding over $2 billion worth of bitcoin based on onchain analytics and now obviously we don’t know for sure whether or not the German government really needs these funds in order to fund the government or if they just want to dump the price of Bitcoin because they want to dump the price of Bitcoin either way the outcome is the same we are indeed seeing a dump in the price of Bitcoin as the German government is offloading a big chunk of their Bitcoin Holdings and if we’re taking a look at the Bitcoin charts today like I just said this is causing a dump in the price of Bitcoin as of right now and this is potentially the beginning of that next extremely volatile move that has been building for a while now in the price of Bitcoin based on the Ballinger B indicator here on the 4-day Bitcoin chart because basically any time where we see a major squeeze in the Ballinger bands this usually happens just before a major volatile move in the price of Bitcoin and these squeezes in the Ballinger bands are also shown here in the Ballinger bands width indicator by the Ballinger bands width dropping to the downside obviously as the width decreases between the Ballinger bends but what we are now starting to see is actually a potential reversal back to the upside in the Ballinger bands with indicator which essentially means an expansion in the Ballinger bands which is basically a signal telling us that the next extremely volatile move is now beginning which is a bearish movement and so our final support for the bearish move right here the final support to pay attention to is sitting at around 56,000 approximately around 56 to the 57,000 so basically if we see a confirmed break below 56k with daily candle closes or a weekly candle close below 56k honestly we could return back down towards around 48,000 as a likely scenario if 56 breaks with confirmation and around 48k we should have a lot of support and also much more support at around 40,000 so right in between around 40 to 50,000 there should be a lot of support in that price range but expect a move down there if 56 breaks which at least as of right now at the time of recording this video 56k has not yet broken with confirmation once again based on candle closes on large time frames and if we’re staying on the 4-day Bitcoin chart taking a look at the super Trend indicator right now this is still in the green as it has been basically every single day since the very beginning of 2023 which is when I actually flipped much more bullish again on the longer term Trend flipping from bearish to bullish in of the bare market and the bull market the much larger Trends in the par of Bitcoin and once again as you can see it’s been green this entire time telling us that we’re very much still in a bull market despite the short-term bearish Trends and pullbacks along the way but the signal that would turn this indicator back into the red would be a confirmed break with a 4-day candle close back below around 56,000 approximately because at that level right there that’s where the super Trend indicator is sitting at at the Lower Side once again at around 56 6,000 and so like I just said if we see a confirmed break with a candle close Below 56k on this 4-day time frame then that would flip this super Trend indicator back into the red and the last time that happened was the beginning of the previous bare Market the 2022 bare market and now keep in mind we also saw something similar happen around the middle of the 2021 bull market so first of all in the second half of 2020 this indicator was sitting in the green indicating a bull market and this continued into early 2021 but then of course it was around May 2021 where we saw a major crash a major volatile move to the downside which was kind of happening during that 2021 bull market because we ultimately formed a new alltime high later on in later 2021 and so basically if this indicator flips back into the red on this 4-day time frame it doesn’t necessarily mean we’re going to have another oneyear bare Market from now it could just mean we could stay bearish for a few months or though but essentially that would be a very bearish signal on the larger time frames pointing towards more of a bearish trend at least lasting for a couple of months as a most likely scenario possibly longer but once again I want to make it clear that at least for now that bearish signal in this indicator has not yet confirmed because once again in order to actually confirm this indicator flipping back into the red we need to see a confirmed candle close below 56,000 which at least for now has not happened and so for all we know we could still find support at around 56,000 and close above 56k like what we saw back here for example we had a few close calls during this very bull market where we actually saw the price go below the point of invalidation but we never saw a candle close below that level which is important but no matter what happens here I’ll be sure to keep you up to date every single day here on the channel so make sure you subscribe to this Channel with notifications turn on so that you don’t miss out on any of these important up videos which I post on this channel completely for free and with that being said taking a look at this 3-day Bitcoin chart and as of right now the 3-day Bitcoin RSI is still sitting below 50 in the lower half of the indicator and as I’ve said in the past over the last one week or so I’m using this opportunity to simply just dollar cost average into Bitcoin so I’m slowly accumulating Bitcoin bit by bit on the spot market and so by doing that I’m taking advantage of the slightly lower prices compared to back here for example so eventually if we eventually see a bounce back to the upside I would benefit from a bounce but even if we continue a dump in the short term that is still okay because I’m not going all in at once I’m allowing for the possibility of a continued dump and at the same time I am not using any leverage at the moment so even if we do see a continued dump in the short term I will not get liquidated I would still be perfectly okay by using that strategy of simply just dollar cost averaging slowly into Bitcoin as of right now but once again that is just my strategy that I’m using and I’m not a financial adviser I cannot give you Financial advice and I don’t know your personal financial situation so it might not work for you but that is what I’m doing right now and with that being said taking a look at this daily Bitcoin chart and what is very interesting right now is the fact that we’re actually seeing a decent sized pullback here in the dxy which historically speaking basically every single time where the dxy is trending in the bearish direction that is almost always bullish for the price of Bitcoin and so it’s possible that as of right now this dump that we’re seeing at the moment is simply due to the German government nuking the price of Bitcoin as we speak but at the moment the dxy is still pulling back so for all we know once Germany finishes selling their Bitcoin we could potentially see more of a bullish reversal but as I’ve explained over and over again here on the channel ultimately when we’re looking at this chart right here I’m looking at more of the trends not the individual movements and so for example if we see one move down in the dxy we could still see a dump in the price of Bitcoin or one move up in the dxy we could still see a pump in the price of Bitcoin but generally speaking when the dxy is trending in the bearish direction forming lower highs and lower lows that is usually bullish for Bitcoin in terms of the trend not the individual movements and also from time to time on rare occasions these can Trend in the same direction like what we saw in late September once again as I explained around a week ago that was one example where we saw the dxy and the price of Bitcoin actually trend in the same direction but that only lasted for just a couple of weeks and that’s a very rare occurrence so most of the time they are trending in the opposite directions and ultimately this is why I talk about multiple different charts indicators patterns and signals not just one single chart on this channel because obviously we need to look at as much information as possible put it all together and look at what is most likely moving forward based on multiple data points but either way this is definitely something important to at least pay attention to and stay up to date on which is why I talk about it in these update videos because historically speaking it has been very accurate at determining the trends in the price of Bitcoin once again not the individual short-term movements but while we’re seeing the current short-term dump in the price of Bitcoin we’ve actually just hit a major area of support a critical area of support in between around 56 and a half thousand to 58,000 and at least at the time of recording this video we’re currently finding support around that area we’re currently seeing a small Bounce from that price range and if we continue to hold this area as support at least just for the next one to two days so if we see just one to two daily candle closes confirming in the green then that could potentially confirm a new bullish Divergence that is forming right now on the daily time frame because as of right now we’ve got clear lower lows in the price of Bitcoin in the daily candle closes potentially if this daily candle close confirms anywhere where it is right now and of course in the daily Bitcoin RSI at least for now this is still forming higher lows which is a bullish Divergence but as of right now this is not yet confirmed we’re still waiting for those one to2 green candle closes to confirm here in the price of Bitcoin But ultimately we’re actually in a similar situation right now to what we were in roughly around a week ago when we saw that short-term dump obviously that was quite the dump just in the short term but then over the next one week approximately we did actually see some choppy sideways price action and a slight bullish relief and then a rejection from strong resistance continuing that short-term bearish Trend later on which once again I was talking about over and over again over the last one week as the most likely scenario and so now that this is played out as expected what am I expecting moving forward well what I’m expecting is something similar but based on this area of support so we’re most likely going to see a lot of support around this area possibly chop around sideways or see a very slight bounce but that alone does not necessarily confirm a new bullish Trend and so it is important to understand that as of right now we are still very much within a short-term bearish Trend and in order to confirm a bullish Trend reversal we need to confirm bullish Trend reversal signals like for example strong confirmed breakouts above key resistance and as of right now the resistance areas to pay attention to for the price of Bitcoin are first of all sitting at around 60,000 to 61,000 that was previous support and should now act as new resistance and above that we have more resistance in between 63 to 64,000 67 to 68,000 and 72 to 74,000 and so that is the situation right now for the price of Bitcoin in the short term and of course we are still on a weekday we’re still expecting a lot of volatility because usually most of bitcoin’s volatile moves in the price happened during the week on the weekdays and historically speaking most often during the weekend we usually see relatively flat price action so potentially we could see a bit of a break from this bearish price action right here as we start to move into the weekend but either way if you want to trade any of these moves in the price of Bitcoin or any other crypto personally I do just about all of my trading over on buybit 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 buit 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 which is currently a massive 100 ,000 Lucky Draw happening right now which is happening for a limited time by the way and so once again just by trading crypto on buybit using that link you get these chances into this Lucky Draw where you could potentially win some free Bitcoin or ethereum or trip to an F1 race or free usdt or up to a $100,000 just by trading crypto on bybit using that link down below this video and so if you’re going to be trading crypto anyway you might as well check it out once again first link down below this video but for whatever reason if you cannot access bybit or if you cannot k kyc on bybit there is also bitflex which is another crypto exchange similar to bybit but you don’t need kyc 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 with that being said taking a look at the Bitcoin liquidation heat map and obviously over the last few days we’ve continued to see that short-term pullback that dump in the price of Bitcoin thanks to the German government at the moment dumping the price of Bitcoin but with that being said we still have a lot of liquidity actually building to the upside mainly sitting close to 64,000 or more specifically in between around 63.8k to 64.2k and so that is still an important area to pay attention to on the Bitcoin chart but with that being said between now and then we still have that critical resistance to pay attention to between the current price and that major liquidity but with that being said if we’re taking a look at ethereum on The Daily time frame right now the price of eth is attempting a break below this golden pocket area of support sitting in between around 31 170 to 3220 but at least for now we have not actually seen a daily candle close below that area confirming the break to the downside but if we do end up confirming the break to the downside below that golden pocket then in that case the next short-term support to pay attention to on this time frame is sitting at around $3,000 or just above $3,000 and below that we have a significant amount of support at around 2850 to 2870 based on these previous lows and it’s also worth pointing out that the daily ethereum RSI is getting extremely close to oversold territories for the first time in many months and so if we end up seeing a bit more of a pullback here that is going to push the RSI further into oversold territories telling us that very soon we’re actually approaching the lower limits just in the immediate short term at least for the price of eth in terms of this bearish trend but even if we see an oversold signal here and a bit of a bounce back to the upside or bullish relief of some sort in the price that alone is not necessarily enough to confirm a bullish Trend reversal because for that as I’ve explained recently here on the channel we need to see bullish reversal signals actually confirm like confirmed breakouts back above key resistance which at least for now have not happened and so like I’ve already been saying basically every day over the last 3 weeks we’re still clearly within a short-term bearish Trend at least for now and if we’re looking at the 12-h hour time frame obviously as I said in my last video we already invalidated this bullish Divergence so that already played its part for roughly around one week but because we failed to break out above any significant resistance we actually rejected multiple times from this resistance sitting at around 3450 because of that fact we continued the short-term bearish Trend later on and obviously just recently we confirmed that break below 3.3k with 12-hour candle closes below 3.3k at the moment we saw just one 12h hour candle close slightly below 3.3k we saw a quick move towards this next Fibonacci level which is currently sitting at around 3.1k or more specifically around 3120 acting as short-term support and if we’re looking at the 8h hour time frame we are also now seeing the 8h hour ethereum RSI extremely oversold this is the most oversold the RSI has been in a very long time and if we’re simply just looking at the last few times where that 8 Hour ethereum RSI entered into oversold territories usually this happens just just before at least some sort of shortterm Bounce or sideways consolidation before potentially the continuation of the bearish trend later on and so once again within the next 1 to two days I do actually expect some sort of low to be formed in the price whether it’s right now or after a little bit more of a dump once again just in the next one to two days I do expect some sort of low so basically the price to stop going to the downside at some point within the next 1 to 2 days but that could just be a temporary r Lea during the bearish trend before the trend continues later on once again as I said back here and back here and with that being said taking a look at the price of salana on the 12-h hour time frame and clearly the price of salana over the last one day followed What Bitcoin and ethereum did with that dump to the downside so obviously we break back below 140 which that area was a critical area to hold for the Bulls 140 to 144 but because we broke back below 140 we did see a quick move to the downside almost back down towards this area of support sitting in between 120 to 128 and so that is still the critical area of support right now to pay attention to for the price of salana and that is definitely an important area to hold above because if we start seeing a break below 120 we could potentially confirm a massive heads and shoulders pattern on this chart right here and in case you’re new to all of this a head and shoulders pattern is an extremely bearish pattern but only if it confirms with a break below the neckline so basically a break below this area of support below 120 but at least for now we’re still finding support just above that area so for all we know we could just continue chopping around sideways in this sideways price range in between this area of support and this area of resistance and once again whether it’s right now or perhaps tomorrow very soon I do actually expect a bit of a break from this bearish price action just in the next couple of days but ultimately if we end up seeing any bounce back to the upside we still have strong resistance to pay attention to like for example in between 140 to 144 that should now act as new resistance and above that level we also have more resistance at around 153 to4 more resistance at 160 and in between 170 to 175 but 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 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 then make sure to watch these videos popping up viy 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 he 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 DUMPED BY GOVERNMENT (Warning)!!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin News Today!! 0:00
Important Bitcoin Analysis! 1:55
Ethereum Technical Analysis! 14:19
Solana Technical Analysis! 17:36

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