BITCOIN HOLDERS: IT’S A TRAP (Last Chance)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN HOLDERS: IT’S A TRAP (Last Chance)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 4:08
Ethereum Technical Analysis! 12:34
Solana Technical Analysis! 14:36

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– Crypto World –

Welcome back to the cry Channel everyone my name is Josh and right now do not be fooled because Bitcoin could be repeating history potentially setting up another trap while Black Rock just bought over $100 million worth of bitcoin in just the last one day and on top of that etherium is still bouncing

From critical short-term support as the price is playing out a new pattern in the short term so I’ll be talking about all of that and so much more later in the video so definitely watch to the endend first of all we need to talk about the Bitcoin F news today because

Over the last one day Black Rock has bought an additional approximately $100 million worth of bitcoin for their spot Bitcoin ETF because as of right now Black Rock is now holding approximately 45,600 Bitcoin worth over 1.83 billion US for their spot Bitcoin ETF because as you can see here on black Rock’s own

Website once again they’re holding around $ 4,668 Bitcoin worth over 1.83 billion and just yesterday they were holding around $1.7 billion worth of bitcoin and so obviously black Rock’s spot Bitcoin ETF is continuing to grow in size as they’re continuing to accumulate more and more Bitcoin to back their ETF but a

Substantial amount of this Bitcoin is most likely coming from grayscale because just yesterday grayscale dumped approximately 19,000 Bitcoin which was worth around 770 million us basically sent out of the grayscale Bitcoin trust and out of that amount around 15,000 approximately Bitcoin got sent over to coinbase basically to dump on the market

And if you’ve been watching any of my recent videos here on the channel you would know that I’m expecting gray scale to continue to dump around 10 to 20,000 Bitcoin every single weekday on the crypto Market because as of right now grayscale is still holding over 528,000 Bitcoin worth over 21 billion US

And basically the fee for holding your Bitcoin in the grayscale Bitcoin trust in the grayscale Bitcoin ETF is 1.5% basically you’re paying 1.55% on any amount that’s sitting in the grayscale Bitcoin trust whereas by comparison if you’re looking at the Black Rock Bitcoin ETF you’re paying

0.25% per year on any money sitting in the Black Rock ETF and so obviously that is a massive difference in fees between 0.25% and 1.5% when you’re talking about billions of dollars and so obviously it makes sense that a lot of this money that’s sitting in grayscale being

Charged much higher fees is going to move over to cheaper ETFs like for example the Black Rock Spot Bitcoin ETF but because the grayscale ETF is a cash creat ETF they cannot pay out these Holdings in Bitcoin they have to pay out in US Dollars which means if people are

Wanting to move their money out of grayscale they’re having to dump that Bitcoin on the market that’s back in the ETF in order to pay out in US Dollars and so that’s basically what’s been happening pretty much every single weekday since the spot Bitcoin ETFs actually got approved because there’s

Simply a lot of money looking to exit grayscale which is causing short term selling pressure but as I’ve mentioned recently on the channel if gry G continues to dump this amount of Bitcoin approximately every single weekday then in roughly around a month from now they will basically be completely out of

Their Bitcoin Holdings and so basically I expect that within a month from now the selling pressure from grayscale will likely stop but at least over the next few days possibly over the next few weeks once again we could potentially see some more selling pressure due to grayscale because at the moment

Grayscale is simply selling more Bitcoin every single weekday than other players like Black Rock are actually buying but once grayscale is eventually out of their Bitcoin once that selling pressure finally stops which will happen eventually when they run out of Bitcoin obviously at that stage when we no

Longer have that extra selling pressure and instead we just have potentially a lot of buying pressure from other Bitcoin ETFs like the Black Rock ETF obviously that could result in a larger bullish recovery in the price of Bitcoin perhaps in a few weeks from now or in a

Month from now and remember in only a couple months from now we have the Bitcoin Haring which is also a very bullish event and so just keep in mind even though I’m slightly bearish in the short term due to grayscale dumping on the market that is only shortterm price

Action but anyway getting into the Bitcoin chart this is on the daily Bitcoin chart and over the last couple of days we’ve seen pretty much a perfect Bounce from this area of support which is still sitting in between around 37.9k to around 38.4k and so once again that is still

The level of support to pay attention to on The Daily time frame but if we break back below around 37.9k then that case our next area of support is sitting in between around 35.3k to 35.8k and below that we also have this area of support sitting in between around 33.4k to around

33.9k and obviously at the moment this barish Divergence is still currently playing out in the price of Bitcoin which means we should not be expecting a significant amount of bullish momentum at least in the short term and instead we’re most likely going to see either some choppy sideways price action or

Potentially a bit more of a pullback in the price of Bitcoin as the most common outcomes from a bearish Divergence and if we’re taking a quick look at the dxy also known as the US doll index over the last one day we’ve seen a slight dip in

The dxy nothing too crazy and so obviously that slight dip in the dxy has actually coincided with that slight bounce in the price of Bitcoin over the last couple of days but overall the dxy has been moving to the upside over the last few weeks now which once again is a

Warning signal for Bitcoin and crypto because when the dxy is bullish that is usually bearish for Bitcoin and crypto and as of right now also on the daily Bitcoin charts the price of Bitcoin is still retesting this previous line of support now acting as new resistance which is sitting at approximately

405,000 and at least as of right now at the time of recording this video we’ve seen a slight rejection from around 405,000 but we haven’t fully confirmed that rejection as of right now because we have not even confirmed a red daily candle close after seeing that rejection

But basically if we do end up seeing more confirmation confirming that rejection and that break to the downside with some more red daily candle closes confirming then obviously that would be another bearish confirmation signal further confirming the break to the downside and setting up that short-term bearish Trend which I’ve been talking

About recently on the channel here and once again as I’ve been talking about for a while now on the channel of course we’re seeing a downtrend here in the daily Bitcoin RSI which at the very least is a sign of weakness for the price of Bitcoin in that previous

Bullish Trend but often times these reversals in the RS into a new bearish trend can actually be a leading indicator for the price of Bitcoin before we start flipping more bearish which obviously has happened more recently but in case you’re new to all of this it’s important to understand the

Difference between the shorter term Trends and the much longer term Trends obviously here on the daily timeframe we have these more short-term bullish and bearish trends that usually last a matter of weeks or potentially a matter of months but these short-term bullish and bearish Trends here on the daily

Time frame have been all occurring within a much larger bullish trend that can be more visible on the weekly time frame for example and that’s been the case since the beginning of 2023 and so ever since the beginning of 2023 you can even go back to my videos all the way

Back then on the channel I have not flipped once on the much larger trend for example on the 3-day chart or the weekly chart I have not flipped once I’ve remained bullish that entire time and I’m still very bullish on the much larger Trend here and that larger trend

Is effectively a bullish Market it’s a bull market and so once again I’m still bullish on the much larger Trend but remember during the larger bullish Trend we can see short-term bearish Trends here and there which are basically large pullbacks during the larger bullish Trend and that’s basically what we’re

Seeing right now and so obviously on smaller time frames it’s very normal to flip between bullish and bearish more often because the trends change between bullish and bearish more often when you’re looking at smaller time frames but once again that much larger trend has remained bullish the entire time as

I’ve been saying since the beginning of 2023 but anyway zooming into the shorter term looking at the 4-Hour Bitcoin chart and right now we’re still seeing that rejection from this area of previous support now acting as new resistance and that area is sitting in between around

405,000 to 41k and so as I said in my last video here on the channel I would only start to flip more bullish again in the shortterm if we start to see a confirmed breakout back above around 41,000 but at least as of right now once again we’re experiencing a bit of a

Short-term rejection from that previous area of support which is a short-term bearish signal and so at least for now it is quite clear that the trend at least on the 4-Hour time frame is bearish obviously we’re forming lower highs and lower lows which is a short-term bearish Trend but during this

Short-term bearish Trend obviously we’ve seen some small bounces here and there which have been caused by these small bullish Divergence patterns here on the 2hour time frame and so as I said in my last video Bitcoin history is basically repeating because we’re playing out another shortterm bullish Divergence

Resulting in a slight bullish relief but so far this is actually the third time this is has happened during this short-term bearish Trend so this is nothing new for the price of Bitcoin and remember a Divergence between the price and RSI is not necessarily A reversal signal these don’t always result in a

Trend reversal and so quite often these bullish divergences for example usually result in either choppy sideways price action or a slight bullish relief just in the short term before we could potentially continue the trend later on and if you’re looking at the outcome of these last two bullish divergences

During this same short-term bearish Trend we can see that the RSI made it up towards around 58 to 59 here on the 2hour time frame and as of right now the 2hour Bitcoin RSI has made it up towards around 54 to 55 approximately so basically we’re getting very close to

This level of resistance here in the 2hour Bitcoin RSI and so if history simply continues to repeat as we’ve seen already over the last few days then we could potentially see a rejection from that resistance area in the RSI like what we saw these last two times and

Obviously if that’s the case if we see a rejection after resetting that RSI to the upside then that can give us more room to the downside later on to continue that short-term bearish Trend which as of right now has not broken and if you want to trade these moves in the

Price Bitcoin or any other crypto you can make money if the price is going down with short positions or up with long positions and personally I’d take those trades over on buybits and so I’ll make sure to leave a link to buybit in the description down below and in the P

Comment and if you use that link to make a buybit account and deposit on that 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 bit

Or if you cannot kyc on bibit there is also bitflex which is another crypto exchange similar to bibit but you don’t need kyc for bitflex and so I will also make sure to leave a link to bitflex in the description down below and in the Pinn comment and if you use that link

And deposit $100 worth of crypto or more and to make one Trader over on bitflex then you can get 10 usdt completely for free and so if you’re trading crypto anyway or 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 but anyway taking a quick look at the Bitcoin liquidation hit map and if we’re looking at the last one week worth of price action we can actually see some

New liquidity levels sitting to the upside which are sitting mainly at around 42,000 first of all we do have a small amount of liquidity at around 40.5k so we could potentially see a slight move up towards that level right there and then obviously above 405,000 we do have resistance in between 405,000

To 41k as I mentioned earlier in the video but if we actually see a breakout above 41k breaking out above that short-term resistance then in that case a short-term bullish price Target would potentially be 42k considering we have a lot of liquidity at around 42k but

Remember that is only if we see a confirmed breakout above short-term resistance which as of right now has not happened technically we’re still within that short-term bearish Trend as I just explained but if we zooming out to a much larger time frame looking at the last 3 months worth of price history

Here in the Bitcoin liquidation heat map we can see a massive level of liquidity to the downside which is sitting at around 34,000 and so basically that would be a larger bearish price Target if this short-term bearish Trend continues once again we do have a lot of liquidity at

Around 34,000 and before that we also have some more liquidity at around 36.7k and as the same goes the trend is your friend until the end and right now the short-term Trend at least is bearish but anyway getting into the ethereum part of this video this is on the daily

Time frame and right now the bearish Divergence is still playing out as expected so once again I would not be expecting any significant bullish momentum at least in the short term and instead it’s most likely going to play out in the form of either choppy sideways press action or a pullback

Which is usually what happens after these bearish divergences and on top of that obviously we also have that bearish momentum showing up here in the daily ethereum macd as I’ve been warning about basically every day since the price was all the way back up here at around 2

Half thousand once again we have a lot of bearish momentum right now in the market but we still have this major area of support sitting in between around 2.1k to 2150 and so obviously if this pullback continues we could potentially Bounce from that area of support and

Just recently we have seen some slight bounces from this area of support on the 4-Hour time frame which is sitting in between around 2170 to around 2.2k and so at least for now that’s still acting as a bit of short-term support and obviously this sideways consolidation and that slight Bounce has

Been helping to reset the RSI back out of oversold territories which can actually give us more room to the downside later on because once again as I’ve been saying the shortterm trend is technically bearish as I’ve been saying since all the way back up here but obviously more recently we have picked

Up more bearish momentum and just in the imminent short term looking at the two 2 hour time frame obviously over the last one day or so we have seen this very small bullish Divergence player on the 2hour time frame which obviously has been resulting in mostly choppy sideways

Press action which once again is one of the most common outcomes from a bullish Divergence but considering this is only on the 2our time frame I do not expect this to play out much longer and so potentially sometime soon over the next one day or so or even in the coming

Hours this could potentially invalidate with another move to the downside because remember on the smaller time frames these patterns are less significant compared to larger time frames and obviously the trend at the moment in the short term is still currently bearish and something similar can be said about the price of salana on

The 4H hour time frame even though we’ve seen a bit of a short-term bounce over the last couple of days obviously we’re still technically forming lower highs and lower lows which is the price trending in the bearish direction on the 4-Hour time frame and obviously with this short-term bounce in the price of

Salana this is helping to reset the RSI back to the upside which can actually give us some more room to the downside side because obviously right now the price is no longer oversold meaning we have some more room to the downside and as for support and resistance we still

Have this area of support sitting in between around $835 to $85.50 and more support down towards around 77 to $78 and as for short-term resistance I’d be expecting resistance at around $91 to $92 and above that we have more resistance sitting closer towards around

$99 but if you want to know how you can profit from crypto no matter if the price is bullish bearish or simply chopping around sideways you can profit in either of those scenarios by watching these videos popping up right here on your screen the video in the top left

Shows you how to make money using long positions or short positions if the price is bullish or bearish and the video in the bottom left shows you 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