$1 BILLION BITCOIN PUMP INCOMING (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction!

$1 BILLION BITCOIN PUMP INCOMING (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the c channel everyone my name is Josh and right now Bitcoin is still playing out the bullish Trend reversal as the price is now breaking out above key resistance in the short term while tether just printed a billion USD which could cause a massive pump to the upside while a short squeeze is happening right now while ethereum is further confirming the bullish Trend reversal 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 chart today we need to talk about the bitcoin news today because on Monday we actually saw a decent net inflow into the spot Bitcoin ETFs this time around El a net inflow of just over $300 million just on Monday and this is actually quite similar to what we saw on Friday because on Friday we saw a net inflow of just over $300 million into the spot Bitcoin ETFs and of course as I said back then this is bullish for the price of Bitcoin because this is effectively new money coming into buy Bitcoin this is $300 million coming into the Bitcoin ETFs and the Bitcoin ETF providers like black rock for example are having to buy Bitcoin on the spot Market in order to back the ETFs and so while we’re seeing hundreds of millions of dollars worth of buying pressure happening right now for the price of Bitcoin meanwhile we don’t really have any major sellers at least as of right now due to the German government running out of Bitcoin at least as of right now this is bullish for the price and on top of this happening just over over the last one day we saw tether print a billion usdt so that’s a billion dollars worth of stable coins US dollar stable coins and now even though this is bullish news for the price of Bitcoin and crypto overall this does not necessarily mean tether’s about to buy a billion dollars worth of bitcoin or crypto because how this printing actually works is basically tether prints a billion dollars worth of usdt for example but then they have that usdt sitting in tether’s inventory basically getting ready for redemptions and then for for example if I as an investor let’s just say have $100,000 and I want 100,000 usdt I would wire that $100,000 to tether and then tether would send 100,000 usdt once they receed the $100,000 in their bank so basically they’re always backing $1 us to one usdt but just to make things simple rather than minting new usdt on the blockchain every single time someone wants to redeem or create for example some new USD on the blockchain they just Mint one huge chunk of usdt like a billion usdt and then a lot of those smaller redemptions can be used out of that inventory but the fact that tether is minting usdt and not burning usdt this is very bullish for the price of Bitcoin and crypto because this means that money is coming into the crypto ecosystem from outside of the crypto ecosystem like for example money coming from the banking system into crypto because if money was just flowing between say Bitcoin and usdt that does not change the supply of USD T that just changes the value of Bitcoin and so some people out there make the mistake of thinking that tether is printing new usdt because a lot of people are planning to sell Bitcoin and they need to sell it into a lot more usdt but that’s not exactly how things work because for example if I were to sell a $100 worth of bitcoin or $100,000 worth of bitcoin or if someone were to sell $100 million worth of bitcoin either way that does not change the circulating supply of usdt because once again one usdt has to be backed by $1 so tether can only release new usdt into circulation if they have the US dollars to back that usdt and so in other words tether can only create new usdt and then release it into circulation once they have the money to back the usdt which basically means they need money from outside of crypto from the banking system for example or they’re taking market share from another stable coin like usdc for example but if we’re looking at the market cap and the supply of other top stable coins like for example usdc we can see that those other stable coins did not drop by a billion dollars just suddenly and so this means that this is new liquidity coming into crypto from outside of crypto from the banking system for example and so this is extremely bullish also resulting in more buying pressure for Bitcoin alongside the ETFs pushing the prices higher in the short term but while we have this bullish news right here over the last one day we also have a little bit of bearish news which did cause a temporary short-term dump in the price of Bitcoin which did quickly recover later on but BAS basically Mount gox which is an exchange that collapsed over a decade ago they’re getting very close to now starting repayments and in fact they’re already starting some early repayments to customers and in case you new through all of this what I mean by repayments is repaying Bitcoin to the customers of the collapsed crypto exchange Mount gox that have been waiting for over a decade to receive their Bitcoin back and the total amount of Bitcoin we’re talking here when it comes to mount gox is over 130,000 Bitcoin worth over8 billion us and so once again over the last decade this was essentially locked up this was untouched Bitcoin but right now this is beginning to be unlocked which could cause some selling pressure if some of the customers receiving this Bitcoin decide to sell it and so due to that reason whenever the malox trustee makes a large transaction that basically Spooks the market and a lot of people panic sell in the short term which can cause short-term dumps whenever these guys are making a large transaction and just a matter of hours ago the mount Cox trustee did make a very large transaction this time around they sent around 8,641 Bitcoin worth over $3 Billion US in a single Bitcoin transaction which by the way the transaction fee was less than $3 $3 to send three billion us on the Bitcoin network but this was most likely an internal Bitcoin transfer transferring from mount gox to mount gox just to another address but once again whenever these massive transactions happen especially when it’s due to mount go that can spook the market in the short term causing some short-term selling pressure by Panic Sellers and we did actually see that right here this red candle right here just around 8 to 12 hours ago was mainly caused by this single transaction right here and so this is really the only bearish thing that’s being held over our heads right now basically the mount gox repayments waiting to really happen because once again early repayments are potentially already starting but there’s still a lot of repayments to go and so like I said earlier this could cause some short-term selling pressure if these customers decide to sell that Bitcoin but there is no way of knowing how much Bitcoin could be sold on the market how many customers decide to hold that Bitcoin or sell that Bitcoin but at least for now these other bullish factors are continuing to cause the prices to rise in the short term for Bitcoin and really the overall crypto Market in general but with that being said taking a look at the Bitcoin chart today as of right now on the 4-day time frame this super Trend indicator is still telling us that we’re in the bull market as I’ve been saying since the beginning of 2023 and so over the last one day nothing much has really changed on this chart right here and something similar can be said about this chart because over the last one day not a lot has changed other than the fact that the RSI on the 3-day Bitcoin chart is now sitting above 50 and so technically speaking that means the RSI is now leaving this buy zone right here that I’ve been talking about over the last couple of weeks when the price was at these lower prices I’ve been sharing basically every day here on the channel over the last couple of weeks that this is where I am buying more Bitcoin I’ve been saying buy buy buy this is what I’m doing right here at these lower prices and right now we’re seeing some decent bullish price action here in the short term so obviously that Bitcoin that I’ve been buying and sharing that I have been buying Bitcoin here on the channel is continuing to make profits but at this stage considering the RSI is now back above 50 on the 3-day time frame I’m not necessarily looking to buy a lot more new Bitcoin right now because I already accumulated a lot of Bitcoin at lower prices but with that being said if we’re taking a look at this daily Bitcoin chart right now we’re still seeing this massive bullish reversal signal here in the dxy because a bearish reversal in the dxy is bullish for Bitcoin so when I’m saying a bullish reversal signal I mean bullish for Bitcoin right here because usually time and time again when the dxy is trending in the bearish direction that is almost always bullish for the price of Bitcoin in terms of the short-term Trend and momentum and now initially when we saw that first pullback in the dxy we also had the German government dumping billions of worth of bitcoin on the market causing that short-term dump a little over a week ago nearly two weeks ago now but once again the German government quickly ran out of Bitcoin they completely sold out all of their Bitcoin and as soon as that selling stopped from the German government because they ran out of Bitcoin we finally saw this bullish signal actually start playing out here in the price of Bitcoin and I’d assume that we’ll see something similar to that when the bulk of these repayments actually start happening in the mount go situation right here because once again that could unload a lot of Bitcoin on the market causing a short-term dump like for example when we had the German government dumping billions of dollars worth of bitcoin on the market just around 1 to two weeks ago but the great thing about Bitcoin is you cannot print more Bitcoin So eventually any major seller that’s looking to dump their Bitcoin will always run out of Bitcoin if they dump enough Bitcoin and so that means no matter how large the player is it could be Mount go or the German government either way they can only cause a temporary dump in the price of Bitcoin not a permanent dump we will always see a recovery later on eventually they would run out of Bitcoin but compared to feed currency like the US dollar obviously the Federal Reserve does not run out of US dollars they could continue to print the US Dollars into Infinity which essentially means they can infinitely lower the value of the US dollar Forever into the future but with that being said taking a look at this daily Bitcoin chart and over the last one day we’ve actually seen a daily candle close Above This critical area of resistance sitting in between around 63 to 64,000 and so obviously this is an extremely bullish signal here in the short term as I’ve been saying basically every day over the last one week I’ve been saying once we start breaking out above key resistance like for example around 60 to 61,000 and 63 to 64,000 these are the areas that confirm a bullish Trend reversal and so like I already said in my last video we’re already starting to look very bullish here in the short term which continued to play out here over the last one day and obviously this bullish Divergence on The Daily time frame is still playing out as expected as I’ve been saying basically every day since around a week to two weeks ago and we also now have the first higher high in the price of Bitcoin since around 1 to 2 months ago and so that is also a sign of a bullish Trend so it is quite clear once again that we are clearly trending in the bullish Direction at least as of right now and the areas of resistance to watch out for on this daily time frame based on this volume profile indicator and previous resistance in the price uh first of all sitting in between around 67 to 68,000 and sitting in between around 72 to 74,000 and as for short-term support in case we see any sort of pullback here in the short term we should expect support around this price range in between 63 to 64,000 and more support in between around 60,000 to 61,000 and if we’re zooming into the shorter term looking at the 8 hour time frame right now the price of Bitcoin based on the Fibonacci retracement tool from swing High to swing low on the logarithmic settings is running into the golden pocket area of resistance the most important Fibonacci area on the chart sitting in between around 64.3k to 64.9k and so at least based on the Fibonacci retracement tour that is an immediate area of resistance to pay attention to at least in the short term and if we see a confirmed breakout back above around 64.9k with 8 Hour candle closes back above that level then in that case expect to move at least up towards around 67 to 68,000 which is also this area of resistance right here and if you actually want to trade these moves moves in the price of Bitcoin or any other crypto personally I take just about 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 buyit account and deposit on that account then you can get up to a $330,000 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 only for the next 4 days and so just by trading crypto using that link down below this video you get these chances right here into this Lucky Draw where you can potentially win some free Bitcoin ethereum usdt or trip to an F1 race or 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 buybit but you don’t need KC 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 if we’re taking a look at the Bitcoin liquidation heat map we’re now seeing that massive short squeeze that I talked about in my last video I said expect a move into this price range right here in between around 64 to 65,000 to wipe out billions of dollars of short positions I said billions of dollars of shorts will be wiped out of the market as the most likely scenario in a major short squeeze which is playing out right now and a short squeeze is bullish for the price of Bitcoin as I explained in my last video at much lower prices and so if you missed that video definitely check it out if you want to know more about a short squeeze and what all of this means but from where we are right now the next major area of liquidations is sitting at around 67.4k to 67.7k so around 675,000 is the next major price Target once we take out all of these liquidations right here heading to just above 65 5,000 and with that being said if we’re taking a look at ethereum on The Daily time frame over the last one day we clearly confirmed the bullish Trend reversal with a clean breakout and the daily candle closed well above this line of resistance which was sitting at around 3270 so just below 3.3k and so for example if you took that breakout trade from the point of the breakout to where we are right now that’s around a 5 to 6% profit already so just with a 10x leverage trade that would be around a 60% profit but if we’re measuring from the point of the breakout to the price target for this pattern right here which by the way is a bump and run reversal pattern a three-stage bullish reversal pattern and the technical price Target is at the top of the leading phase which is sitting at around 3.9k and so from the point of the breakout to that price Target that’s around a 20% profit with no leverage or for example a 10x leverage trade would be a 200% profit or even from where we are right now as oford in this video to that technical price Target that’s still around a 13% move to the upside or for example with a 10x leverage trade that would be a 130% Profit just for example and so obviously the trend and momentum right now is clearly looking bullish once again after around a one month worth of a short-term bearish Trend and of course we saw that bearish Trend all the way down to this massive area of support which is exactly where we bounced from multiple times as I shared on the channel back then we have a lot of buyers right here in between around 2.8k to 2.9k which previously held as strong support and as I’ve also been saying since all the way back down here not only did the price Bounce from this area of support we also bounced from oversold territories here in the daily ethereum RSI and if we’re zooming out on the daily time frame the last few times this has happened which by the way happened over 300 days ago as the last few times but if we’re taking a look at these previous examples these usually played out in the form of a shortterm bounce back to the upside or at the very least a bit of a sideways consolidation so basically no more bearish price action at least in the short term over the next 1 to two weeks is what I was expecting since down here and so far has been playing out but as I also said around a week ago this signal buy itself is not necessarily enough to confirm a new bullish Trend so in order to confirm that we need to see other bullish Trend reversal signals like this one that has now confirmed and if we’re zooming into the shorter term looking at the 12-hour time frame we’re also struggling around this golden pocket area of resistance based on the the Fibonacci retracement tool from swing High to swing low on the logarithmic settings which is sitting in between around 3480 to around 3520 and so at least as of right now in the short term that is acting as some strong resistance for the price of eth and if we see a breakout back above around 3520 then we also have some more resistance at around 3690 so just below 3.7k and as for short-term support in case we see some sort of rejection right here then in that case I would expect support at around 3340 to 3320 based on this Fibonacci level and previous support and just below that level of support we also have this level of support sitting at around 3210 so just above 3.2k and if we’re taking a quick look at the price of salana on the 12 hour time frame obviously over the last one day we’ve now seen that confirmed breakout back above 154 which was a bit of short-term resistance previously and right now we are attempting a breakout above 160 after just EXP ing a short-term rejection exactly from 160 and so if we can now confirm this breakout with this 12 hour candle close or a daily candle close back above 160 and hold above that level that would be extremely bullish for the price and the last time we saw this happen we saw a massive bullish move follow over the next few days or weeks and so that is what I expect over the next few days or weeks if we confirm this breakout right here with a daily candle close for example or 12-hour candle close back above 160 if we can hold this area right now as support then I do expect a continued bullish Trend in the price of salana over the next few days or weeks and as I explained in my last video if we see that breakout back above 154 we also now have a bullish price Target at around 187 based on a massive double bottom pattern or W pattern giving us a technical price Target at 187 which is now technically in play but we also have to keep in mind that between now and then there’s also other resistance that we need to pay attention to for example sitting in between 170 to 175 and sitting in between 183 to 187 and so those are just areas on the chart where the price will likely struggle at so just keep that in mind even though I’m bullish on the trend right now we can still see some short-term struggles here and there just like how during a bearish trend we can see some bounces back to the upside from support especially here and there during a bearish trend and as for support right now for salana technically speaking if we confirm this Breakout above 160 160 should become new support but if we break back below 160 and reject from that level then in that case the next short-term support would be sitting in between around 152 to 154 and below that we have this area of support in between 140 to 144 but either way if you want to trade these moves in the price of salana or any other crypto once again 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 shopping 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 you 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

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Timestamps:
Bitcoin News Today!! 0:00
Important Bitcoin Analysis! 6:50
Ethereum Technical Analysis! 14:00
Solana Technical Analysis! 17:12

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