BITCOIN BREAKOUT COMING SOON (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN BREAKOUT COMING SOON (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
FED Meeting News (Important) 0:00
Bitcoin ETF News Today!! 4:18
Important Bitcoin Analysis! 6:39
Ethereum Technical Analysis! 14:01
Solana Technical Analysis! 16:51

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– Crypto World –

Welcome back to the crypto B Channel everyone my name is Josh and right now Bitcoin is still playing out this warning signal as well as playing out this short-term bearish Divergence and rejecting from Key resistance but right now the price is running into critical short-term support as well as forming a

New pattern which can set up a new price targets so I’ll be talking about all of that and more later in the video and some massive news in just a moment so definitely watch this video from start to finish to not miss out on any of this important

Information first of all just giving you a quick recap on yesterday’s fed meeting also known as the fomc meeting and of course the Federal Reserve decided to keep interest rates at the same so there was no change in interest rates which was the expected outcome and so once

Again as I explained in my last two videos here on the channel That was the neutral outcome so as soon as this news came out of course we didn’t really see anything major in the market no major volatility to either direction but like I’ve also explained over the last few

Days just after this interest rate decision around half an hour after we had that Jerome power press conference and in that press conference we did see some things that acted on the market and so once again I kept you up to date in real time over on my Twitter so if you

Want those realtime updates throughout the day as soon as this information is coming out then make sure to follow me over on my Twitter link Down Below in the description and in the pin comments but basically the main thing that came out of the Jerome power press conference

The FED press conference was essentially the fact that Jerome PO said that yes raid cuts are coming in 2024 but probably not in the March fed meeting and I added here that this is actually short-term bearish because that means markets have to price out the March rate

Cut and pretty much as soon as I tweeted this and the following hours after I tweeted this we did end up seeing short-term bearish price action exactly as expected and once again the reason behind that short-term bearish price action was due to the fact that markets

Are having to price out the rate cut that was actually priced in or at least somewhat priced in for the March fed meeting and once again as I’ve explained over the last few days pretty much all you need to know is lower interest rate is bullish higher interest rate is

Bearish and basically what is already priced into the market that is neutral because it’s already priced into the market and basically around 2 days ago before yesterday’s fed meeting the probabilities for the March fed meeting were close to 5050 as in around half the market was expecting for a 25 basis

Point rate cut and the other half of the market was expecting for interest rates to stay the same but what we are now seeing after yesterday’s fed meeting is right now the market is pricing in around around a 35% chance of that 25 basis point rate cut and around a 65%

Chance of no change in interest rates at the next fed meeting in the March fed meeting and once again lower interest rates bullish higher interest rates bearish so if the market is having to price out those lower interest rates and having to price back in the higher interest rate expectation for the next

Fed meeting that is short-term bearish as the market is making that price adjustment and as you can see here once again the market has not fully priced out that rate cut at the March fed meeting which means if we do not end up seeing that rate cut at the next fed

Meeting as Jerome power suggested then once again considering the fact that the market is expecting around a 35% chance of a rate cut at the next fed meeting if we don’t end up seeing that rate cut that would be even more bearish considering a lot of the market is still

Currently pricing that in and if we’re taking a look at the probabilities for future fed meetings over the coming one year or so once again at the March fed meeting the next fed meeting from now the most likely outcome as of right now that’s being priced into the market is

No change in interest rates and then the most likely outcome for the FED meeting after that in May is an interest rate cut by 25 basis points and so for example between now and then if Jerome pal or other fed members begin to say that no interest rate cuts are happening

Until at least June for example then if the market has to price out that interest rate cut once again that can lead to more bearish price action but on the other hand if the Federal Reserve is hinting at more interest ratees cuts or interest rate Cuts sooner then that can

Lead to bullish price action as people are pricing in lower interest rates than previously expected and so once again the Federal Reserve rate decision was neutral for the market because everyone was already expecting that but based on what Jerome pal said in the press conference this was slightly short-term

Bearish and now getting into some Bitcoin ETF news today just yesterday gry scull sent another around 8,000 Bitcoin worth around $350 million us over towards coinbase to dump on the market but for as long as this amount stays under 10,000 Bitcoin each weekday honestly it’s not too bad considering

Around a week or two weeks ago they’ll selling closer to 15 to 20,000 Bitcoin each weekday and so once again if this is underneath 10,000 Bitcoin each weekday coming out of grayscale being dumped on the market then that amount can pretty easily be absorbed by other

ETFs and as of right now the grayscale Bitcoin trust is still holding just underneath 500,000 Bitcoin still worth over2 billion by but once again for as long as they’re selling less than 10,000 Bitcoin each weekday it’s not too bad especially because Black Rock one of the biggest buyers in the market right now

Is buying a lot more Bitcoin each weekday and of course this is simply due to the fact that the demand for grayscale spot Bitcoin ETF is continuing to grow a lot of people are buying into the ETF which means black rock is having to buy Bitcoin to back the ETF and as of

Right now black rock is currently holding around 66,800 Bitcoin worth around 2.8 billion US for their spot Bitcoin ETF as we can actually see on black Rock’s own website and so this means over the last two days just in the last 48 hours Black Rock alone has accumulated over

95,000 Bitcoin worth around $400 million they have bought that amount of Bitcoin to back their ETF just in the last two days and this buying pressure from Black Rock has been relatively consistent each weekday and so if this continues obviously this can quickly add up to a

Lot of Bitcoin being owned by Black Rock and keep in mind right now only around 900 Bitcoin is actually mined each day and added into the Bitcoin Supply and after the Bitcoin Haring in April only around 450 Bitcoin will be mined each day and so for example if black rock is

Still accumulating around 4 to 5,000 Bitcoin every single day after the Haring if there’s only 450 Bitcoin being mined per day obviously it does not take a genius to figure out that this is extremely bullish for Bitcoin over the longer term but obviously that’s talking about the much longer term talking about

1 to two years from now if we’re looking at slightly smaller time frames of course we can still see short-term pullbacks and things like that and so getting into the Bitcoin charts today looking at the daily Bitcoin chart and as of right now on the daily time frame technically this bearish Divergence is

Still currently active and so once again this simply means we should not really be expecting a significant amount of bullish momentum at least in the short term and instead we’re most likely going to see either a pullback or some choppy sideways price action as the most likely outcomes from this bearish Divergence

And if we’re looking at the daily Bitcoin macd right now this is showing very low momentum over the last one week or so it was showing more bullish momentum but at the moment it’s showing less momentum really to either direction and so I would not be surprised if we do

End up seeing a bit more of a consolidation here on the daily time frame potentially over the coming days or weeks and as for support we still have this area of support in between around 37.9k to 385,000 and so even if we pull all the way back down towards

That level obviously we could still consolidate sideways like that on the daily time frame in that scenario and staying on the daily time frame looking at the dxy also known as the US dollar Index as of right now this is actually slightly heading back to the upside

Again after around a week of sideways consolidation and so once again as I always say if the dxy is bullish that is usually bearish for Bitcoin and crypto and so with the dxy heading a little bit higher of course if this continues once again that’s simply another bearish

Signal at least at least in the short term for the time being for the price of Bitcoin and if we’re taking a look at the 6h hour Bitcoin chart of course over the last few days or so we did end up seeing the 6-hour Bitcoin RSI enter into

Overbought territories and as I’ve said over the last few days on the 8 hour time frame and on smaller time frames of course with the RSI entering into overbought territories that means we have limited room to the upside and we du to see a short-term cool off which

Usually plays out in the form of bearish price action or neutral price action because both beish price action and neutral price action can help reset the RSI back to the downside and so if we’re taking a look at the 2hour Bitcoin chart we can actually see the price of Bitcoin

Running into this area of support which was previous resistance and this is sitting in between around 41.7k to around 42.2k and obviously this is happening after another pretty much perfect rejection from this area of resistance which is sitting in between around 43.3k to around 43.6k approximately and

Obviously with higher highs in the price of Bitcoin and lower highs in the RSI we also have that bearish Divergence still playing out which I’ve talked about recently on the channel and obviously we have now seen that as expected a bit of short-term bearish price action from

This resistance but once again right now we’re running into this area of support so it’s possible we could see some sort of Bounce or consolidation around this area of support and now if we do end up holding above this area of supports for as long as we stay above around 41.6 to

41.7k and we form some sort of high low above these previous lows then in that case we could potentially be forming an inverse hand and shs pattern here on the 4-Hour Bitcoin chart because as of right now we already have a left shoulder and a head and right now we are potentially

Forming a right shoulder for this inverse Head and Shoulders pattern and now it’s important to understand that right now even though this pattern is potentially forming it’s just something to watch out for and not something to act on because it is not yet confirmed and this pattern will only actually

Confirm if we see a bounce sometime soon soon potentially over the next few days back up towards this neckline back up towards this line of resistance which is sitting at around 43.6k give or take and then at that point if we see that bounce back up towards that neckline and then

Confirm a breakout above 43.6k that is the point where we could flip much more bullish again because if we end up seeing a move like that and then breaking out above 43.6k that would confirm the invers shers pattern which will confirm a bullish price Target and in case you’re wondering what that price

Target is just measuring out that potential price target for this infers CER shoulders pattern if we see that successful breakout that would set up a bullish price Target at around 48.8k and so from the point of the breakout to that price Target we’re talking around a 12% move to the upside

In the price of Bitcoin if we first confirm a breakout Above This resistance but once again as of right now that potential bullish price target for this potential invest shoulders pattern is not yet confirmed and not yet in play and so at least as of right now while

This pattern is forming it is just something to pay attention to and personally I will only enter a breakout long position if we actually confirm a breakout above this line of resistance after completing that right shoulder which as of right now has not happened and if you’re wondering where I take

Those trades in the price of Bitcoin and any other crypto personally I take those trades over on buybit so I’ll make sure to leave a link to buybit in the description down below and in the pinned comments and if you use that link down below this video to make a buit 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 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 in the description down below and in the PN comment and if you use that link and deposit $100 worth of crypto or more and to make one trade

Over on bitflex then you can get 10 usdt completely for free along with other new deposit bonuses 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 but anyway getting back into the Bitcoin chart if we fail to complete that right shter and instead we actually break below this area of support here on the 2hour time frame then obviously that would be a short-term bearish signal if we actually

Break back below around 41.6k to 41.7k with candle closes back below that level and so in that scenario if we confirm a break to the downside below this support then in that case looking at the Bitcoin liquidation heat map we do actually have some short-term price targets to the

Downside if we first break below that level of support and first of all we do have some initial liquidity which we could still hit around that area of support sitting in between around 41.6k to 41.7k so once again we could see a slight dip down towards that liquidity

And still stay in that area of support but if we break further to the downside then a potential price Target to the downside would be starting at around 39.7 to 39.8k with a lot more liquidity sitting at around 39.4k to 39.5k and so basically I would expect a

Drop down towards around 395,000 to 40,000 in that price range right there if we first confirm a break back below this support which as of right now has not yet happened and so like I’ve been saying here on the channel almost every day since all the way back here I’ve

Been saying that while the price of Bitcoin is in between this support and this resistance at the moment just in the short term we’re looking relatively neutral basically chopping around sideways and we only really set up the next major priz Target once we first confirm either a break below this

Support or above this resistance and as Traders it does not matter what direction the price goes whether we’re breaking support or resistance of course we can use long positions or short positions to profit no matter what direction the price goes and so this is why it’s definitely worth setting up

Ready to go on one of those exchanges using those links down below this video If you want to get those extra bonuses so that you’re ready to take these trades as soon as they happen but anyway getting into the ethereum part of this video this is on the daily time frame

And right now the bearish Divergence is technically still active and so like I’ve been saying almost every day since all the way back here this simply means we should not be expecting any significant bullish momentum at least in the short term and instead we’re most likely going to see either a pullback or

Some choppy sideways press action as the most likely outcomes and if we’re looking at the daily ethereum macd obviously around 2 weeks ago as I said on the channel two weeks ago this was looking very bearish showing a lot of bearish momentum but over the last one

Week or so we’ve been seeing declining bearish momentum in the macd which means as of right now we don’t really have a lot of momentum to either direction and so this is why on The Daily time frame we’re just seeing these slight moves up and down and not really a strong move to

Either direction because once again right now we’re lacking momentum and if we’re taking a look at the shortterm looking at the 4-Hour time frame obviously the price is continuing that short-term cool off from from the local high from when the RSI entered into overbought territories which I warned

About here on the channel but at least as of right now this shortterm bullish relief might not be over at least until we confirm a break below this previous low setting a new lower low in place and that previous Low by the way is sitting

At around 2230 to 2240 and as for the short-term fractal that’s been playing out over the last one week or so very nicely as expected as I’ve been talking about since all the way back down here of course we have seen that bullish relief over the the last one week but

This time around the RSI entered into overbought territories a lot sooner compared to last time and so with the RSI entering into overboard territories once again that meant we were due to see a bit of a break or setback from that bullish relief but technically we only

Form a new short-term bearish Trend once we confirm a lower low or lower high in place similar to what we saw back here once we confirmed some lower highs in place and lower lows of course at that point that is where I flipped more bearish again in the short term on the

Trend and so as of right now now considering we have not yet broken this higher low higher high price structure at least for now we have not yet reversed back in the bearish direction but if we’re taking a look at the 2hour E to US dollar chart this short-term

Bullish Divergence is now invalid because we have now seen a new lower low in place here in the 2hour ethereum RSI and so as you can see right here this has played out pretty much perfectly over the last one week or so in the form of mostly a bullish relief and some

Choppy sideways press action which is usually the most common outcomes from a bullish Divergence but once again it’s worth mentioning that right now this shortterm bullish Divergence just on the 2-hour time frame is now invalidated and so at least in the immediate short term like I said on the daily time frame as

Well we’re simply lacking momentum so once again I would not necessarily expect a massive move to either direction and instead we’re most likely going to basically chop around sideways at least in the imminent short term and that’s kind of what salana has been doing here on the 8 hour time frame

Obviously for the last multiple weeks we’ve basically been within in this sideways price range and as for support and resistance right now we’re bouncing from this level of support which is sitting at around $91 to $92 but if we break back below that level we also have

This golden pocket area of support in between around $835 to $85.50 and as for short-term resistance we have found some resistance at around $104 we also have more resistance at around $108 and more resistance closer towards around $15 to $116 but obviously over over the last

Couple of days we have seen a short-term Co off for the price of salana as well which is something that I’ve talked about over the last few days because the 8 Hour salana RSI obviously entered into overboard territories as you can see right here and so it’s very normal to

Expect these pullbacks or resets in the price in the RSI after entering into overbought territories but this is actually happening at a very good time because we’re potentially forming an inverse Head and Shoulders pattern here for the price of salana as well because as you can see here we’re potentially

Forming a left shoulder ahead and right now we’re potentially forming a right shoulder but we need to see a bounce sometime soon over the next few days back up towards around 105 to $16 and then of course we will need to see a confirmed breakout back Above This high

Right here so back above around $106 in order to confirm that inverse Head and Shoulders pattern and confirm a bullish price Target but once again as of right now that potential inverse Head and Shoulders pattern even though it’s potentially forming it is not yet completed or confirmed but if you want

To know how you can profits from crypto no matter what direction the price is going whether we’re bullish or bearish or chopping around sideways you can profit in all of those scenarios by watching these videos popping up right here on your screen the video in the top

Left shy ha can open long positions and short positions to profit if the price is bullish or bearish 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