BITCOIN CRASH OVER (this is coming next)!!!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN CRASH OVER (this is coming next)!!!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto ball Channel everyone my name is Josh and right now Bitcoin is bouncing from critical support potentially forming a bottom for this short-term bearish Trends as this chart right here is still pointing towards more bullish price action that could be coming soon despite Mount GA potentially causing a multi-billion dollar sell-off which I’ll talk about in just a moment alongside ethereum which is now flashing a rare signal that has not happened in nearly 300 days 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 taking a look at the Bitcoin charts today we need to talk about the bitcoin news today because over the last 24 hours we saw some major movements in the mount gox trustee due to rep payments coming very soon and in case you have no idea what any of this means basically Mount gox was a crypto exchange that collapsed over a decade ago and since then they’ve been holding on to a lot of customers Bitcoin the customers of the exchange the trustee of G has been holding on to that Bitcoin and right now they are potentially beginning to repay that Bitcoin to customers and this is coming from the former CEO of Mount gox himself as we can see here customers are now finally starting to receive the Bitcoins from the mount gox trustee and we can back this up with onchain analytics we can see on the Bitcoin blockchain that yes indeed the malox trustee is now moving a lot of Bitcoin in preparation for repayments and if you’re wondering how much Bitcoin we’re talking about we are talking about over 141,000 Bitcoin worth nearly 8 billion US and just in the last one day we saw the mount go trustee in a single Bitcoin transaction move nearly $3 billion around $2.7 billion worth of bitcoin or around 47,000 Bitcoin in a single transaction preparing for repayments and so essentially this spooked the market at the time as soon as this happened within the last one day we saw a further dump in the price of Bitcoin because of course there is a chance that a decent amount of this Bitcoin could be sold by those customers that have been waiting for a decade to finally receive this Bitcoin and now of course there’s no way to know for sure exactly how much of these Bitcoin customers that are receiving this Bitcoin will actually sell some may continue to hold it some may continue to sell but it is likely that at least some of it could be sold on the market and so when we’re talking about billions of dollars of Bitcoin that are getting paid out of course that have the potential to significantly impact the price of Bitcoin and for any of the beginners out there that think that a $7 billion sell-off will just simply reduce the Bitcoin market cap by $7 billion that’s not exactly how it works because the market price is based on liquidity the amount of buyers and sellers at any given price and so for example if $7 billion worth of bitcoin is sold on the market that’s not going to reduce the Bitcoin market cap by just 7 billion a $7 billion sell order or $7 billion buy order order could easily change the market cap of Bitcoin by 50 to1 billion or more because it is the price times the circulating Supply that determines the market cap not the other way around and so this is why it is a big deal when it comes to these massive transactions that happen on chain especially when they are linked to entities like the mount go trustee that we are knowing now is starting to pay out Bitcoin to customers and so of course it was just a couple of days ago we saw the German government dump a lot of Bitcoin on the market and then just in the last 24 hours we saw this from the mount gox trustee and even if none of this Bitcoin from the mount gox trustee ends up actually being sold by the customers just the fact that a lot of Bitcoin is moving on chain right now that is spooking a lot of people in crypto and a lot of people are potentially selling in preparation for these payouts because of course there will be people out there that will speculate that some of these Bitcoin might be sold on the market which could reduce the price so before this actually happens people are perhaps selling Bitcoin earlier on to try and buy back lower and so basically what is happening here is the market is just trying to price this in before it is happening and as it is happening so that when it does continue to happen we may not even end up seeing a significant impact on the price of Bitcoin because a lot of that impact has been moved to now with the market selling off right now and potentially buying back in later on adding buying pressure later on and so just in the last 48 hours we have seen two major entities cause a sign significant amount of sell pressure for the price of Bitcoin of course being the German government around a couple of days ago and now Mount go starting the repayments also causing a significant sell-off just in the short term but with that being said taking a look at the Bitcoin charts today and on this 4-day time frame right here not a lot has really changed on this chart over the last one day so if you’re new to the channel then check out my last video here on the channel and if we’re staying on the 4day Bitcoin chart but taking a look at this super Trend indicator what we have seen just over the last one day is a candle wick to the downside below 56,000 but at least as of right now we have not actually seen any 4-day candle close or weekly candle close for example confirming below 56,000 and remember as I’ve said recently here on the channel we need to see confirmation actually confirming the candle close Below 56k on this time frame right here in order to confirm a bearish reversal signal in the super Trend indicator on this Bitcoin chart and the last time we saw that happen was the beginning of the 2022 be Market which was obviously a significant bearish time in the price of Bitcoin for the following 1 year approximately and so this indicator right here is really great at determining the larger Trends the much larger trends for the price of Bitcoin on the larger time frames not just the short-term bullish and bearish Trends but once again until we see a confirmed break below 56,000 on this chart right here technically speaking the super Trend indicator is still sitting in the green pointing towards a larger bullish Trend also known as a bull market and remember a larger bullish Trend or bull market can contain short-term pullbacks and short-term bearish Trends during the larger bullish Trend which is why we need to wait for confirmation to actually confirm a larger Trend reversal because if you sold at the moment we just saw a slight dip below 56,000 of course if you use that same logic back here for example you would have sold Bitcoin at around 25,000 just before a very significant move to the upside in the following once in the Press of Bitcoin because we never actually confirmed a candle close below the point of invalidation back then in the super Trend indicator but I talked more about this chart right here and this indicator in my last video here on the channel so if you’re new to the channel and you want to know more about this chart then check out my last video here on the channel and something similar can be said about this 3-day Bitcoin chart because over the last one day not much has really changed on this chart right here so as of right now I’m still just slowly dollar cost averaging into Bitcoin slowly accumula in Bitcoin as the short-term dump continues and I’m allowing the short-term dump to continue by using that strategy because essentially if we see more bearish price action in the short term I’m still able to dollar cost average into Bitcoin I’m not going all in at once and I’m not using any High leverage for example so I won’t get liquidated if the price continues more bearish price action but if we eventually see some sort of bounce back to the upside whether it’s right here or from a lower price I can still benefit from that bounce as I dollar cost average into Bitcoin because as I continue to dollar cost average that also lowers my average entry price and with that being said taking a look at this daily Bitcoin chart and what is very interesting right now is if we’re taking a look at the dxy this is actually playing out a decent sized pullback which if it weren’t for Mount goau dumping potentially a massive amount of Bitcoin while the customers potentially dumping some Bitcoin and also the German government just a couple of days ago dumping a massive amount of Bitcoin on the market if it weren’t for those major events happening right now we could potentially actually see some more bullish price action once a lot of those bearish events are over with and so as I explained in my last video this is why I talk about multiple factors and indicators and patterns and news and things that are going on because obviously different things can affect the price of Bitcoin not just one signal or indicator but historically speaking the dxy has actually been historically very accurate at determining the trend in the price of Bitcoin at least on The Daily time frame so these shter term bullish and bearish Trends not necessarily the bull or bare market and so as you can simply see on this chart right here roughly around 95% of the time this indicator is extremely accurate at determining what the trend could be in the price of Bitcoin at least in terms of the shorter term Trend and momentum but it’s just the other 5% of the time where these can potentially move in the same direction once again this is a relatively rare circumstance that we’re seeing right now that’s also potentially caused by other factors that I’ve been talking about just over the last couple days but once we see these other bearish factors like the German government selling and the malox rep payments go away once these other factors go away which once again will happen eventually with the market pricing in the malox repayments and the German government at some point will run out of Bitcoin or just stop selling Bitcoin and so at some point when we eventually see these other bearish factors go away we’re simply left with the remaining factors that can influence the price of Bitcoin like for example the reversal that we’re seeing at the moment in the dxy which could cause potentially some bullish price action if we stop seeing some of those other bearish factors that are also influencing the price of Bitcoin and so once again this chart right here the dxy is flashing a major bullish signal for Bitcoin so I’ll not be surprised if we actually see more bullish price action potentially in the coming days or weeks if we stop seeing a lot of the selling from those other large players but with that being said taking a look at this daily Bitcoin chart and what’s very interesting is over the last one day we saw a move below this area of support sitting in between around 565,000 to 572,000 and based on the vpvr indicator also known as the volume profile indicator we actually saw a move exactly down to this massive cluster of volume right here which is actually sitting at around 51 to 52,000 but we have a major area of support that’s really starting at around 53,000 going down towards around 51,000 so once again in between 51k to 53k we have a significant area of support mostly based on previous price action and the volume profile indicator and we ended up seeing the price of Bitcoin bounce just above 53,000 so right around that major area of support and as of right now at the time of recording this video the price of Bitcoin is still trading right around this previous area of support which if the daily candle close still confirms above around 56,000 technically speaking we could potentially still hold this area as support based on the daily candle closes and also as of right now we’re potentially forming a bullish Divergence on this daily time frame with lower lows already confirmed in the price action in The Daily candle closes and higher lows still currently forming in the daily Bitcoin RSI so at least for now the higher lows have not been confirmed they are still forming in the RSI and in order to actually confirm that higher low in place in the RSI to confirm the bullish Divergence we need to see at least one to two green candle closes confirming here in the price of Bitcoin to confirm the higher low in place and once again confirm the bullish diver and if we see this bullish Divergence confirm in the coming days then we’re likely going to see at least some sort of sideways consolidation or possibly a slight bullish relief so basically a break or relief from the short-term bearish Trend but not necessarily A full-on reversal from the bearish trend but once again at least for now the bullish Divergence is not even confirmed and also in order to confirm a bullish reversal in the price of Bitcoin we also ideally need to see a breakout above key resistance areas like for example in between 60 to 61,000 we should have major resistance and in between around 63 to 64,000 in between 67 to 68,000 and at around 72 to 74,000 those are all major areas of resistance on the Bitcoin chart but personally I’ll start flipping much more bullish again in terms of the short-term Trend and momentum for the price of Bitcoin if we at least see a confirmed breakout back above 61,000 but ideally back above 64,000 to be more confident that things are finally starting to flip more bullish again for the price of Bitcoin at least in terms of the short-term Trend and momentum and ideally still seeing that pullback also playing out here in the dxy and with that being said if you want to trade any of these moves in the price of Bitcoin or any other crypto personally I take basically all of my trades 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 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 which is a massive Lucky Draw happening right now for a limited time by the way so just by using that link down below this video to trade crypto on buybit you get these chances into this Lucky Draw where you could potentially win some free Bitcoin or ethereum or usdt or potentially up to $100,000 just by trading crypto using the link down below this video 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 bitflex and so I’ll also make sure to leave a link to bitflex down below this video as an alternative crypto exchange and as of right now when it comes to the short-term Trend and momentum for the price of Bitcoin even though we’re seeing a decent Bounce from this area of support technically speaking we’re still within a short-term bearish Trend because we have not actually confirmed a bullish Trend reversal for the price of Bitcoin but with that being said during a short-term bearish Trend we can see even shorter term bullish price action or at least just some sideways price action during a short-term bearish Trend and that’s actually what I expect at least for the next half a week or so possibly over the next one week because we’ve now seen a major low take place in the price of Bitcoin right around significant supports based on previous price action and the volume profile indicator once again and we’ve seen a significant Bounce from that area at least as of right now we have a large candle we to the downside which usually happens right around at least local lows in the price and we could also likely confirm this bullish Divergence in the next few days for as long as the price simply just holds anywhere around this area right here we will likely confirm this bullish Divergence in the next few days and either way even if we don’t confirm that bullish Divergence and we continue to see a lower low in the RSI ultimately that would mean that RSI on The Daily time frame is oversold and the last time this happened we saw a bit of a sideways consolidation and a slight bullish relief over the next one week during the bearish trend and also keep in mind that we’re now about to head into a weekend and usually over a weekend we see relatively low volatility very flat price action just over a weekend as a most likely scenario once again not 100% of the time I never talk about 100% of the time there’s no such thing as a guarantee but as the most likely scenario this is usually what happens over a weekend very boring price action and usually the majority of the volatile moves in the price of Bitcoin happened during the week on the weekdays and this was definitely shown in this week and so essentially I’ll not be surprised if in the next couple of days just over the weekend we kind of see the price start chilling out a little bit potentially playing out a bit of choppy sideways price action but I don’t necessarily expect a volatile move like this over the weekend and with that being said take Tak a quick look at the Bitcoin liquidation heat map and as of right now we actually have a lot of liquidity to the upside compared to the downside considering over the last week we’ve already taken out a lot of liquidity to the downside and so as of right now the significant areas of liquidity here in the Bitcoin liquidation heat map starting at around 58.9k going up towards around 59.6k and we have another significant area of resistance in between around 60.7k going up towards around 61 3K so those are the areas to pay attention to here on the Bitcoin liquidation heat map and with that being said taking a look at ethereum on The Daily time frame because right now the price of eth is bouncing from this critical area of support based on significant previous support in the price sitting in between around 2.8k to 2.9k and so as of right now that is the main area of support to pay attention to and if we break below 2.8k we could potentially go to much lower prices but for now that is the area of support to pay attention to and also if we’re taking a look at the daily ethereum RSI this is now entering into oversold territories for the first time in a long time in fact if we’re zooming out on the daily time frame looking at the daily ethereum RSI we can see the last time we saw an oversold signal on this time frame right here for ethereum was roughly around 300 days ago back in September last year and if we’re looking at the last few times where we saw an oversold signal on the daily time frame right around these occurrences where we saw this signal flash right here we saw a local low at the very least form in the price of eth and we will due to see at least some sort of short-term bounce or sideways consolidation before we could potentially continue the bearish trend later on but usually when we have an oversold signal especially on the daily time frame this usually means we’re about to see at least some sort of break or relief from the bearish trend before potentially continuing the trend later on because because this signal by itself is not really enough to fullon confirm a bullish reversal but just for the next few days possibly over the next week I do expect either a sideways consolidation just some choppy sideways price action or possibly a slight bullish relief just a bit more of a bounce perhaps from this area of support and as for resistance right now we need to pay attention to the Fibonacci retracement Tour on this 12-hour time frame from swing High to swing low that gives us the Fibonacci resistance levels based on the logarithmic settings first of all we have the 23.6% Fibonacci level of resistance sitting at around $ 3050 so just above $3,000 we do have our first level of resistance above that we have more resistance at around 3.2k around 3340 and the golden pocket area of resistance in between around 3470 to 3520 acting as significant resistance and so if we do end up seeing a slight bullish relief or a bit of a bounce back to the upside expect the price to struggle around those areas on the chart and with that being said taking a quick look at the price of salana on the 12-hour time frame and obviously over the last couple of days we saw that break below this area of previous support which should now act as new resistance in between around 140 to 144 and I actually warned here on the channel before we saw the break to the downside I said if we see the break below 140 then expect a move potentially back down to this area of support in between 120 to 128 and as I’ve said recently here on the channel we have sign significant support in that area so expect a bounce from this area right here and what have we seen since then well we’ve seen pretty much exactly that we’ve seen the move below 140 so the moment we saw a break below 140 we moved into this area of support as expected in between 120 to 128 and we’re now bouncing from that exact area of support as expected and as for support and resistance right now once again we should now expect new resistance in between 140 to 144 and we have more resistance closer towards around 153 to 154 and 160 acting as major resistance and as for support once again we still have a lot of buyers in this price range in between 120 to 128 as I’ve been saying basically every day since all the way back here and moving forward what I’m expecting right now for the price of salana is honestly a lot of choppy sideways price action so potentially a further bounce in the imminent shortterm followed by a bit of a retracement and more of that type of price action potentially just for the week But ultimately the overall trend and momentum for the price of salana along with a lot of the crypto market usually follows what Bitcoin is doing so ultimately my analysis for Bitcoin kind of stands for the rest of the crypto Market in general not every single altcoin but in general a lot of the crypto Market moves with Bitcoin 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 those extra bonuses and if you want to actually know how to trade crypto no matter if the price is bull 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 you how he 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 (this is coming next)!!!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin News Today!! 0:00
Important Bitcoin Analysis! 4:41
Ethereum Technical Analysis! 16:34
Solana Technical Analysis! 18:59

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*DISCLAIMER*
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