BITCOIN WARNING SIGNAL (Reversal Avoided)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN WARNING SIGNAL (Reversal Avoided)!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin is now rejecting from this critical area of resistance causing the price to once again retest this critical area of support while ethereum is also now rejecting from an important Fibonacci level so are we talking about all of that and so much more later in the video so definitely watch to the end first of all starting off on the 4-day Bitcoin chart and taking a look at the super Trend indicator and first of all just over the last one day we did see that previous 4-day candle close and we actually saw the candle close back above 56,000 despite the price of Bitcoin temporarily dropping below 56,000 over the last few days and so this means at least for now the bearish reversal signal on this chart right here for the super Trend indicator on the 4-day time frame once again the bearish reversal signal has been avoided at least for now until we potentially see the next 4day candle close which by the way the next 4-day candle close happened in a little over 3 days from now and as of right now the point of invalidation for this larger bullish Trend based on the super Trend indicator on the 4-day time frame the point of invalidation is still sitting at roughly around 56,000 or more specifically at around 55.8 to 55.9k so really it’s just underneath 56k that is the critical level to hold above in terms of the candle closes on the 4-day time frame because as I’ve explained in more detail in recent videos here on the channel if we see a 4-day candle close below that level so well below 56k then that would confirm a reversal signal in this indicator right here flipping it from Green back to red and the last time that happened was at the beginning of the 2022 bare market and the time before that was during that major crash that we saw in mid 2021 where we actually saw more of a bearish trend that lasted for the next couple of months and so basically while we’re in this green area right here the larger bullish trends also known as a bull market the short-term bearish Trends or pullbacks along the way usually take a matter of weeks to eventually recover sometimes sooner sometimes just a few days if we’re only seeing a bit of a short-term dump but if we confirm the reversal signal on this chart back into the red by confirming a break Below on the larger time frames below around 56,000 then once again that could potentially take a few months sometimes much longer to eventually recover back towards the previous highs and so that is why it is very important for the price to hold above 56k mainly in terms of the candle closes it is technically okay to see candle wicks to the downside if we see a quick bounce back to the upside and close the candle close confirm the candle close back above 56k that is still okay for this indicator right here but with that being said taking a look at the 3-day Bitcoin chart and of course as of right now the 3-day Bitcoin RSI is still trading well below 50 so in the bottom half of the indicator and usually based on what we’ve seen over the last 1 to two years usually when the 3-day Bitcoin RSI is trading well below 50 those are often some pretty decent buying opportunities to just accumulate Bitcoin mainly on the spot market for longer term holds these are not short-term signals and so as I’ve been saying just recently here on the channel personally in my situation I am actually just slowly accumulating Bitcoin on the spot Market I’m dollar cost averaging into Bitcoin which means by that strategy I’m allowing for a continued short-term dump if that actually happens because I’m not going all in up once once again I’m just dollar cost averaging bit by bit so even if we see a continued dump I’d still have funds to continue dollar cost averaging into Bitcoin at lower prices and also if we continue to dump because I’m not using any High leverage I will not get liquidated even if we see more bearish price action and so at least for now that is just the optimal strategy for my situation right now as always that is not personal financial advice for you because I don’t know your personal financial situation that’s just letting you know what I’m currently doing as of right now based on these signals on the chart and if we’re taking a look at this daily Bitcoin chart over the last one day the dxy has been closed for trading so we don’t actually have any new information for the dxy over the last one day so if you’re new to the channel and you want to know more about this important chart right here then check out my last video here on the channel because since then nothing has really changed on this chart and so with that being said taking a look at this daily Bitcoin chart and as of right now after a shortterm bounce to the upside from this area of support we’re now seeing a retracement retesting this area of support once again sitting in between around 565,000 to 572,000 and we also now have one confirmation signal confirming the bullish Divergence here on the daily time frame because we did see that green candle close confirm on The Daily Bitcoin chart confirming the higher low in place in the daily Bitcoin RSI and so right now we do have confirmed higher lows in place in the RSI while also confirming lower lows in place in the price of Bitcoin in the daily candle closes which once again is a bullish Divergence and usually a bullish Divergence plays out in the form of just choppy sideways price action so basically a sideways consolidation or sometimes a slight bullish relief so those are the most likely outcomes once again either a slight bullish relief or just a bit of a sideways consolidation most likely for the next 1 week or so but this will be invalidated if we see a confirmed break back below around 565,000 with daily candle closes below 565,000 because then that would mean the price is breaking below key support and also forming a new lower low in the daily candle closes if we confirm daily candle closes below 565,000 and so in that case if the RSI is still in higher lows in that situation we would have to reconfirm a new bullish Divergence but that would basically invalidate the previous bullish Divergence but at least for now this is active on the chart with that one confirmation signal so far and so that is what I’m expecting just in the short term basically a bit of a pause or relief from that short-term bearish Trend but a bullish Divergence by itself does not necessarily mean that we’ve confirmed a bullish Trend reversal or anything like that because ultimately in order to confirm an actual Trend reversal here in the short term from bearish back to bullish in terms of the short-term Trend and momentum we need to see strong breakouts above key resistance for example we have resistance in between 60,000 to 61,000 in between 63k to 64k in between 67k to 68k and in between 72 to 74k but personally I’ll start flipping a lot more bullish again in the short-term Trend and momentum here if we can at least see a breakout back above 61k with confirmation so daily candle closes back above 61k but ideally back above around 64k to be more confident that we’re really flipping much more bullish again in the short term and so obviously we have not seen any of those bullish reversal signals which means at least for now we’re still technically within that short-term bearish Trend as I’ve been saying basically every day since all the way back up here but it is just worth pointing out that during the bearish trend we can see some shorter term time periods where we have some slight bullish relief or some choppy sideways press action during the bearish trend and as for other support to pay attention to if we actually confirm a break back below around 565,000 we do have this significant area of support right here in between around 51k to 53k and potentially one of the reasons as to why we’ve seen that slight retracement here in the short term retesting this area of support is due to the fact that here on the 4-Hour Bitcoin chart we’re now actually rejecting from this 50% retracement level drawn from the Fibonacci retracement tool from this swing High to this swing low the 50% retracement level is sitting at around 58.4k acting as resistance and so in the imminent short term that is a level of resistance to pay attention to and we also have a decent amount of resistance in between around 59.6k to 59.9k nearly 60 ,000 right around there we do have a decent amount of resistance based on the golden pocket area of resistance and ultimately as of right now the price of Bitcoin is pretty much trading right where it was near the beginning of this weekend so overall we did see that slight move up and slight move down over the weekend but relatively speaking we have seen pretty much neutral price action for the weekend we haven’t really gone too far in either direction and of course I’ve been mentioning here on the channel that usually over the weekends in the most likely scenario we often see relatively neutral price action nothing too crazy as the most likely scenario and then often times the most volatile moves the largest moves in the price of Bitcoin usually happen during the week on the weekdays and if you want to trade any of these moves in the price of Bitcoin or any other crypto personally I trade those sort of moves 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 bit 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 $100,000 Lucky Draw happening right now over on bybit just by trading crypto using the link down below this video because by trading crypto using that link you get these chances into this Lucky Draw where you could potentially win some free Bitcoin or ethereum or usdt or trip to an F1 race or up to $100,000 just by Trading 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 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 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 quick look at the Bitcoin liquidation hit map and over the last one day we took out a lot of that upside liquid that I talked about in my last video I said yesterday that we first of all have a lot of liquidity starting just above 57,000 going up towards around 575,000 to give or take we had the first area of liquidity right around there which we did wipe out over the last one day and we almost made it all the way up towards this major area of liquidity which at least for now is still sitting there which is at roughly around 58.8k to around 58.9k so just underneath 59,000 we still have a decent amount of liquidity and so I would not be surprised if potentially in the coming days we actually make it back up towards close to 59,000 to wipe out a lot of that liquidity right there but with that being said taking a quick look at ethereum on The Daily time frame and right now the price of eth is still holding Above This critical area of support based on previous support sitting in between around 2.8k to 2.9k but obviously it is quite clear that at least for now the short-term trend is still very much bear once again as I’ve been saying since all the way back up here I’m still bearish in terms of the shortterm trend and momentum but at least for the next few days possibly over the next week give or take it is actually quite likely that we’re going to just hold above this area of support just in the imminent shortterm considering that is very strong support for the price and we have already seen a major Bounce from that area at least so far just in the last couple of days and so that is still the area of support to pay attention to on The Daily time frame and of course the daily ethereum RSI is still currently sitting right at oversold territories and if we’re looking at the last time this happened that happened roughly around 300 days ago and if we’re looking at those last few times where we saw those oversold signals in the daily ethereum RSI obviously back then they were all bunched up together as you could see but ultimately here in the price action it meant that we will due to see at least some sort of short-term bounce or possibly just a sideways consolidation so basically just a break or relief from the short-term bearish trends but this signal by itself does not necessarily mean the trend is completely over and so as I said over the last couple of days I do actually expect a bit of a break from the bearish trend possibly just some sideways consolidation here some choppy sideways price action which means short-term bullish and bearish price action like this for example but once again this signal by itself does not mean that the bearish trend is completely over so we could see a bit of a break from the bearish trend just a bit of a relief but then the bearish trend could potentially continue later on as the RSI rats back to the upside giving us more room to the downside later on and if we’re zooming into the 12-hour time frame looking at the Fibonacci retracement tool from swing High to swing low on the linear settings this actually places the 23.6% Fibonacci level of resistance sitting right at around 3080 which is pretty much exactly where we just saw a short-term rejection from and so if we’re now looking at these Fibonacci levels on the linear settings once again this now places the 38.2% Fibonacci level of resistance at around 3250 and it places the 50% retracement level at around 3390 and the golden pocket in between around 3530 going up towards around 3570 and so those are the shter resistance levels that I’m now paying attention to as of right now for the price of eth especially considering the fact that we just saw pretty much a perfect rejection from this Fibonacci level based on the linear settings and speaking about short-term rejections from resistance taking a quick look at the price of salana on the 12-hour time frame and obviously what we are currently seeing as of right now is yet another perfect rejection from this area of resistance which was previous support sitting in between around 140 to 144 and so obviously over the last few days we have seen the price heavily respect these areas of support and resistance first of all the moment we broke back below 140 which was temporary support right here the moment we broke below 140 we saw that quick drop down into this major area of support where there’s still a lot of buyers sitting at and as of right now that area of support is still sitting in between around 120 to 128 and so obviously over the last few days we saw a decent sized Bounce from that area of support straight into this area of resistance which the price is now struggling at as expected and so I would not be surprised if we continued to see just some choppy sideways price action here as the price struggles around resistance but also bounces from support things like that and so just in the shorter term we’re actually looking relatively neutral in terms of the trend we don’t really have a strong amount of momentum to either direction because we’re just seeing large choppy sideways price action just up and down price action and personally I would only start flipping a lot more bullish again for the price of salana if we can breakout above key resistance and as I’ve been saying over and over again over the last couple of weeks we ideally need to see a breakout back above 160 in order to flip a lot more bullish again in terms of the short-term Trend and momentum because while the price is sitting below 160 we’re kind of in a similar price range to what we saw back here where we saw a lot of large choppy sideways price action below 160 but above around 120 so we’re basically in a similar range right now we’re seeing very similar price structure right now compared to what we saw back here but believe it or not this type of price action is a gold mine in crypto you can make a lot of easy profits in crypto with this price action right here and if you want to trade any of these moves once again check out those links down below this video and if you want to actually know how to make a lot of easy profits in choppy sideways press action just like this then check out the video in the bottom left of his screen right now because the video in the bottom left shows you how you can easily profit from choppy sideways price action and the video in the top left shows you how can profit from bullish or bearish Price action using long positions or short positions 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 WARNING SIGNAL (Reversal Avoided)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Important Bitcoin Analysis! 0:00
Ethereum Technical Analysis! 10:40
Solana Technical Analysis! 13:26

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