THEY DUMPED BITCOIN AGAIN ($400M SOLD)!! Bitcoin News Today & Ethereum Price Prediction!

THEY DUMPED BITCOIN AGAIN ($400M SOLD)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today! 0:00
Important Bitcoin Analysis! 5:17
Ethereum Technical Analysis! 10:37
Ethereum VS Bitcoin! 14:09
Solana Technical Analysis! 15:51

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– Crypto World –

Welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin is still repeating history in the short term while we have some massive Bitcoin ETF news today which I’ll talk about in just a moment and on top of that ethereum is now running into critical short-term support while

Ethereum versus Bitcoin is getting extremely close to a major breakout which I’ll talk about later in the video so make sure to watch to the end first of all we need to talk about the Bitcoin ETF news today because just yesterday we saw a lot more outflows from grayscale causing some short-term

Selling pressure for Bitcoin but at the same time a lot of that Bitcoin went over to Black Rock because Black Rock is now buying up a lot more new Bitcoin and of course if you’ve been watching my videos over the last one week or so this is something that I’ve been predicting

Obviously talking about the different fees with the different Bitcoin ETFs of course it makes sense for people to move from grayscale to Black Rock because the grayscale fee is a lot higher than the Black Rock fee and so essentially you’re basically having the same thing between the grayscale Bitcoin ETF and the black

Rocket Bitcoin ETF it’s pretty much the same thing that you’re holding but of course if you’re paying more fees for grayscale and less fees for black rock it obviously makes sense to hold the Black Rock ETF over the grayscale ETF if you’re wanting to hold a spot Bitcoin

ETF and obviously this is not Financial advice here I’m not saying go buy a spot Bitcoin ETF personally I don’t hold any spot Bitcoin ETF I just hold actual Bitcoin but I’m simply just pointing out why a lot of people are moving from grayscale to Black Rock it’s mainly to

Do with the fees and as I’ve explained in recent videos here on the channel because the grayscale Bitcoin ETF is a cash create ETF essentially if you’re wanting to take your money out of grayscale and move it over to the Black Rock Bitcoin ETF basically you have to

Take that money out of grayscale which means grayscale actually has to sell that Bitcoin that’s backing the ETF to pay out that money in US dollars they cannot pay out in Bitcoin and so essentially for everyone wanting to withdraw from grayscale that Bitcoin basically has to be dumped on the market

Causing short-term selling pressure for Bitcoin but once again if a lot of people are wanting to move that money over to the Black Rock Spot Bitcoin ETF then basically Black Rock has to re that Bitcoin but under the BlackRock ETF and so obviously it would be a much better

System if the two companies grayscale and black rock could just simply transfer that Bitcoin ETF between one another if you’re wanting to transfer from one ETF to another ETF or if they simply just paid out in Bitcoin obviously that would be simple but no the system is not built that way and so

Essentially with a lot of people once again moving from grayscale to cheaper ETFs like the black rocket ETF for example then once again a lot of these outflows from the grayscale ETF cause a lot of selling pressure but that selling pressure from the grayscale ETF is now somewhat being equalized by buying

Pressure from Black Rock because first of all just yesterday grayscale dumped another 9,000 Bitcoin at the time of this tweet but since then they actually did dump a little bit more Bitcoin than that and so overall just yesterday a lot of outflows obviously flowed out of grayscale roughly half a billion dollars

Worth of bitcoin and so once again with these outflows from the grayscale ETF this caused selling pressure in the short term and so just yesterday we did see a quick short-term dump but that was quickly bought back up because once again a lot of this money is flowing

Over to Black Rock and as of right now Black Rock now holds over 16,300 BTC worth around $700 million us as you can actually see on their website you can see right here Black Rock currently holds 16361 Bitcoin approximately worth around 700 million us and you have to remember

That this is only in 3 days of trading because today will actually be the fourth day of trading for the spot Bitcoin ETFs on the stock market and so basically Black Rock accumulated well over 16,300 Bitcoin worth around $700 million for their spot Bitcoin ETF in just 3

Days and so obviously if this momentum continues this can vastly outpace the outflows from the grayscale ETF and so once again when it comes to the spot Bitcoin ETFs of course just to do with the grayscale ETF this can cause short-term selling pressure but over the longer term looking at the bigger

Picture the spot Bitcoin ETFs are extremely bullish especially when you’re looking at massive players like Black Rock because at this rate within just a few weeks Black Rock could be holding billions of dollars worth of bitcoin already in just a few weeks and given it

A few months or a few years they could be holding a lot of Bitcoin taking a lot of Bitcoin off the market and remember in only around 3 months from now we have a new Bitcoin Haring also resulting in less Bitcoin coming onto the market and so with these massive institutions that

Are dealing with massive amounts of money obviously over the next 1 to two years we could potentially see a lot higher Bitcoin prices over the longer term and so as always I’ll make sure to keep you up to date on the spot Bitcoin ETFs whether the grayscale ETF is

Resulting in more outflows and selling pressure or if black rock is buying even more Bitcoin for their ETF once again I’ll keep you up to date in these videos so make sure you subscribe to this channel with notifications turn on so that you don’t miss out on any of these

Important update videos and also hit the like button down below while you’re at it if you enjoy these videos and also if you want to get these extra realtime updates throughout the day make sure to follow me over on my Twitter where you can get these extra updates link Down

Below in the description and in the pinned comments but anyway getting into the Bitcoin chart this is on the daily time frame and over the last one day not much has changed on this chart so I’ll keep it very quick basically at least for now we have not yet fully

Invalidated the bullish Trend in the price of Bitcoin the daily time frame but at the moment we’re definitely seeing a bit of a pullback obviously due to this bearish Divergence resulting in a reduced bullish momentum and if we’re taking a look at the dxy or the US

Dollar Index on The Daily time frame we’re continuing to see a bounce in the dxy which is a continued warning signal for Bitcoin because as we can see previously when we see a major bounce turning into more of a bullish Trend reversal for the dxy that is usually

Bearish for Bitcoin resulting in a larger pullback and so basically if we see a breakout in the dxy above this previous High then that will be the bullish signal to watch out for in the dxy which once again would be a bearish signal for Bitcoin in terms of the trend

Here but at least for now we have not yet seen that happening but obviously we’re getting a lot closer to that potentially happening so I’ll keep you up to dat in these videos as the dxy continues to progress and staying on the daily time frame we’re still technically within the ascending parallel Channel

With this support line sitting at approximately $40,000 and the resistance line sitting at approxim 48,000 and if we’re taking a look at the shorter term looking at the 4-Hour time frame right now as of record this video the price of Bitcoin is running into this area of support which is sitting in

Between around 42.4k to 42.7k and now if we end up seeing a confirmed break below that area of support So confirmed break below around 42.4k then in that case we do have a bit of short-term support right here at this low sitting at around 41.7k and below that we have this area

Of support sitting in between around 405,000 to 41k but at least for now technically speaking in the short term just on the 4H hour time frame we do have an active bullish Divergence which has been resulting in a slight bullish relief and some choppy sideways price

Action just in the shter as the most common outcomes from a bullish Divergence and so technically speaking because this is still currently active it is still currently valid I do continue to expect this type of price action moving forward and so basically I’ll not be surprised if over the next

Few days we continue to see some choppy sideways price action leaning slightly in the bullish Direction just in the immediate short term here but obviously this can be playing out at the same time as that larger bearish Divergence on The Daily time frame because if we do continue to see that slight bullish

Relief on the smaller time frames that would look just like something like this for example and so once again it is important to understand the difference between the different time frames obviously we could be bullish on one time frame and bearish on another time frame without that contradicting each

Other and if we’re zooming into the much shorter term looking at the 2hour Bitcoin chart obviously over the last one day we saw an initial breakout to the upside for this ascending triangle pattern followed by an invalidation of that breakout and so personally I did actually open a long position around

That breakout just above the point of the breakout once we saw a bit of Confirmation and then as the trade moved into profit personally I moved my stop loss up towards my entry price and obviously because we did not actually hit the price target for that breakout I

Did not take profits from that trade but I did close the trade at break even due to my stop loss sitting at break even and so as always this is why I personally use stop losses with every single trade and as the trade moves into profits personally I move my stop loss

At least to my break even and ideally into profits with every trade that I take and so even with an outcome like this obviously I still came away from that trade at break even without losing anything thanks to my stop loss sitting at break even once again but of course

The ethereum trade was definitely different from that because we did just about hit the price Target and as always always I place my take Profit just before the prize Target but I’ll talk more about that later in the video when I’m talking about ethereum and if you’re

Wondering where I take these trades in the price of Bitcoin or ether or any other crypto personally I trade over on buybit so I’ll make sure to leave a link to bybit in the description down below and in the Pinn comment and if you use that link down below this video to make

A buybit account you can get up to a $30,000 deposit bonus but only if you use that 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 buybits but

You don’t need kic for bitflex and so I’ll make sure to leave a link to bitflex in the description down below and in the pinned comment and if you use that link to make a bitflex account and deposit $100 worth of crypto or more and make one trade over on bitflex then you

Can get 10 usdt completely for free and so if you’re trading crypto anyway or if you’re preparing to take the next trade you might as well get set up ready to go on one of those exchanges using those links down below this video If you want

To get those extra bonuses and now if we’re taking a quick look at the Bitcoin liquidation heat map obviously over the last one day we hit some upside liquidity which I talked about recently on the channel but we do now have some downside liquidity sitting at around

41.8k and around 42k and so basically what this means is it’s quite likely in the short term not guaranteed but it is likely that in the short term the price of Bitcoin will retrace to some of these prices right here most likely down towards around 41.8k to 42k because

Basically these areas of liquidity act as magnets for the price of Bitcoin they’re basically attracting Bitcoin towards these areas of liquidity but anyway getting into the ethereum part of this video this is on the daily eth to us doll chart and right now the bearish Divergence is technically still active

And so once again this means we do to see less bullish momentum just in the short term most likely some choppy sideways press action or potentially a bit of a pullback in the price of eth as the most common outcomes from a bearish Divergence but remember at least for now

This is technically just a shorter term pause or setback within the bullish Trend because we have not yet invalidated this bullish price structure forming higher lows and higher highs and if we zooming into the shorter term looking at the 4-Hour time frame obviously over the last one day we did

End up seeing a bit more of a bounce in the short term exactly from that 38.2% Fibonacci level of support which is sitting at around 2460 which I talked about recently on the channel and so at least for now that’s still the short-term support to pay attention to

And below that we also have this area of support in between around 2380 to 2410 and as for short-term resistance we’re currently finding some resistance at around 2590 and that level right there by the way could potentially act as a neckline for a possible inverse Head and

Shoulders pattern as you can see just in the short term we have a possible left shoulder a possible head and a possible right shoulder but that potential inverse Head and Shoulders pattern is obviously not yet confirmed because to confirm that pattern we need to see that right Sher complete and then a breakout

Above around 2590 to set up a short-term bullish price Target and in that scenario basically I expect the price of eth to come back up towards these local highs which is sitting closer towards around 2.7k but once again at least for now we still have that short-term

Resistance at around 2590 that we still need to break and if we’re taking a look at the 1H hour eth US dollar chart right now the price of e has fully retraced the breakout that we saw just yesterday and when it comes to that breakout that we saw yesterday obviously we saw the

Breakout above this line of resistance which was sitting at approximately 2540 and so from that point right there when we confirmed the breakout above that short-term resistance that set up a bullish price target for this ascending triangle pattern which was sitting just underneath 2620 and as I said in my last video if

We confirm a breakout above resistance then I’ll be entering into a long position with my take profit for that long position just before the technical price Target and so once again with the technical price Target sitting sitting just underneath 2620 and with the price of eth actually reaching around

2615 this actually turned out to be pretty much a perfect trade with the takeprofit sitting pretty much exactly at this high right here and so even though the Bitcoin trade did not work out very well obviously we got out of that trade at break even using a

Stop-loss of course with the eth trade this worked out very well with the price basically hitting that price Target only falling short a few dollars and once again due to this reason as I always say I place my take profit actually before the technical price targets and once

Again if you want to take these trades right here to make a lot of easy money in the short term then make sure to have an account ready to go on one of those exchanges using those links down below this video If you want to get those extra bonuses but at this stage

Obviously the price of eth has basically already completed the pattern we basically hit the technical price Target only fell short just a few dollars and right now as I record in this video we’re actually running into this previous resistance now acting as a bit of short-term support sitting at around

2540 but if we see a break to the downside below 2540 then once again I’d be paying attention to some of these levels of support here on the 4-Hour time frame and if we’re taking a look at eth versus BTC this is eth BTC on the

Weekly time frame right now the price of ether versus Bitcoin is running into significant resistance sitting at approximately 0.061 Bitcoin per ethereum and so once again that is still the significant resistance to break above in order to break out from this massive falling wedge pattern which is technically a

Bullish pattern and if we see that breakout confirm that will set up a bullish price Target at around the top of the wedge which is sitting at around 0.082 Bitcoin per ethereum and so basically from the point of the breakout to that price Target we’re talking

Around a 35% move to the upside in the price of eth versus Bitcoin and so what that actually means in case you’re new to all of this basically let’s just say if you had one Bitcoin and you sold that Bitcoin right now for ather and you’re

Just holding ethereum and then if we saw that 35% move to the upside for eth BTC and then after that 35% move if you moved all of that ethereum back into Bitcoin so if you sold that ethereum back to bitcoin back at this high right here then essentially you turn that one

BTC into 1.35 BTC and so basically when this chart is bearish it makes more sense to be holding Bitcoin but when this chart is bullish it does make more sense to be a little heavier in ethereum versus Bitcoin and on top of the falling wedge pattern obviously we also have a

Significant bullish Divergence playing out on the weekly time frame resulting in a bullish relief right now and of course we’re bouncing from this significant area of support that we also saw back here and so all we need to see now once again is that breakout above this line of resistance in order to

Potentially flip a lot more bullish again in the price of eth versus Bitcoin so we still need to wait and see for that and if we’re taking a look at the price of salana against the US dollar right now the price of salana is still basically chopping around sideways where

Potentially forming a triangle pattern here as you could see but ultimately right now I still have a grid bot trading this choppy sideways price action making a lot of easy money passively while the price is just chopping around sideways in this sideways price range in between the golden pocket and the 23.6% Fibonacci

Level first of all that golden pocket is sitting in between around $83 to $85.50 and that 23.6% fibon level acting as resistance is sitting at around $18 to $109 and so once again just recently we’ve been in a choppy sideways price range but believe it or not you can make

A lot of easy profits from that choppy sideways price action just like this with a grid bot strategy and if you want to know more about that how you can easily profit from this type of price action then make sure to watch the video in the bottom left of his screen right

Now because that video right there shows he he can easily profit from choppy sideways price action and the video in the top left shows he he can long or short crypto to make money if the price is bullish or bearish 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