BITCOIN SHORT SQUEEZE NOW ($250k Trade)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN SHORT SQUEEZE NOW ($250k Trade)!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the good Channel everyone my name is Josh and right now it is happening we are about to see a major move to the upside in the price of Bitcoin once this signal officially confirms as this reversal signal is still flashing on the chart in the bullish Direction while the price is getting extremely close to a major breakout so I’ll be talking about all of that in just a moment alongside my next Bitcoin trade that I’m taking right now alongside ethereum and salana later in the video so definitely watch to the end first of all taking a look at the weekly Bitcoin chart and as of right now the price of Bitcoin is still clearly within the larger bullish trend on the larger time frames also known as a bull market and obviously here on the weekly time frame just in the short term we had a slight candle wick to the downside below this Fibonacci level which was sitting at around $60,000 but we never saw that Weekly candle close below $660,000 and even if that actually happened even if we did end up seeing a lot of confirmation actually confirming a break to the downside here on the larger time frames below 60,000 then in that case we could have potentially seen a move down towards around 51 to 52,000 as the next significant level of support but once again we never actually confirmed a weekly candle close below $60,000 at least as of right now and once again as I’ve been saying this entire time the larger time frames is still looking very bullish it’s just in the somewhat shortterm here we are taking a bit of a short-term pullback during the larger bullish Trends which is very normal to see and in fact usually if we’re in a bull market and we’re seeing around a 20% pullback give or take from high to low usually those are pretty good opportunities to either buy Bitcoin or to scale into long positions not Financial advice and so obviously over the last 2 days already at much lower prices here in the short term over the last two days I was already sharing here on the channel how my trading strategy is to scale into a long position which I’ll talk about in just a moment but first taking a look at this daily Bitcoin chart and once again we’ve seen another drop to the downside here in the dxy over the last one day and so once again as I’ve mentioned recently here on the channel if we’re seeing a pullback here in the dxy that is a bullish signal for Bitcoin and crypto exactly as we’re seeing right now in the price of Bitcoin just in the short term here and so basically if this pullback continues as it has been doing over the last couple of days here in the dxy then expect more of a bullish recovery here in the price of Bitcoin basically a short-term bullish reversal but it’s important to understand that nothing moves in a straight line so even if the dxy drops straight to the downside do not necessarily expect only straight to the upside bullish price action in the price of Bitcoin because obviously we can see slight pullbacks here and there just like how during this pullback to the downside we saw some slight bounces back to the upside here and there and so as always I’ll be sure to keep you up to date on what’s Happening Here in the dxy and many other important charts here in these videos every day so make sure you subscribe to this Channel with notifications turned on so that you don’t miss out on any of these important update videos and if we’re taking a look at this daily Bitcoin chart we can see right now the daily Bitcoin RSI is finally attempting a breakout above this massive descending line of resistance and this line of resistance has been in play since around the beginning of March so for a couple of months now we’ve seen this descending line of resistance in the daily Bitcoin RSI similar to what we have seen in the past and if we’re simply looking at the last couple of times where we finally saw a breakout in the daily Bitcoin RSI above these major descending lines of resistance as we can see here in the price action once the RSI actually broke out above those lines of resistance we saw a major bullish reversal out of a short-term pullback into a major bullish move over the next couple of months or so first of all if we’re looking at this first example right here if we’re measuring out that move from the point of this breakout here in the RSI above that descending line of resistance from that point the price of Bitcoin pumped over 80% to the upside over the next 4 months or so and if we’re looking at the second example from that point of the breakout in the RSI to the next major high in the price of Bitcoin we pumped for around 5 weeks just over for 1 month and we pumped around 70% to the upside and so once again we’re talking about basically a short-term bullish Trend lasting at least 1 to 4 months of a move of around 70 to 80% to the upside and now obviously I’m not saying that we’re definitely going to see the exact same thing play out again for example I would not necessarily be expecting precisely a 70 or 80% move from this local low to the next major high but we can simply look at these previous examples as an idea of what we could potentially expect in the somewhat short to midterm as in talking about the next one to two months or so but just for fun if we’re measuring out a 70 to 80% move in the price of Bitcoin from the local low right here a 70% move would take the price of Bitcoin up towards around $1,000 us per Bitcoin and an 80% move would take the price of Bitcoin up towards around $15,000 per Bitcoin and now once again I am not saying that that’s definitely going to happen because there’s no such thing as a guarantee but I’m just sharing what has happened previously when we’ve seen this signal Flash and so that just gives you an idea of potentially what could be coming in the next few months or so but it’s important to understand that at least at the time of recording this video this signal in the daily Bitcoin RSI is not yet confirmed because the RSI by default goes off candle closes and so we at at least need to see this daily candle close confirm with the RSI above this line of resistance but even though we have not yet seen the confirmation as of recording this video we are getting very close to potentially confirming this breakout in the daily Bitcoin RSI and if we’re taking a look at this daily Bitcoin chart we can see right now the price of Bitcoin is getting extremely close to potentially breaking out Above This descending line of resistance for this massive falling wedge pattern first of all the support line for this falling wedge which has been support multiple times for the price is sitting currently at around 58,000 approximately with this descending line of resistance sitting at around 632 to 64,000 and so ideally we need to see at least a solid daily candle close but ideally a couple of candle closes above 64,000 in order to actually confirm this breakout here on the daily time frame for this massive falling wedge pattern and there’s two ways we can take a look at the price target for this pattern we can simply look at the top of the wedge which is sitting at around 72,000 as a major price Target to the upside once we actually confirm the breakout Above This resistance or if we’re taking a look at the measured move for that breakout to the upside if we see that breakout above that resistance confirm then that also sets up a price Target at around 74,000 which is very close to the alltime high and so basically once we confirm a strong breakout with candle closes on The Daily time frame above 64,000 then the next major price targets are simply these local Highs at around 72 to 74,000 and if we’re zooming into the much shorter term it is safe to say on the 2hour time frame that this bullish Divergence that I’ve been talking about since much lower prices has played its part very well and as I’ve also been saying over the last two days in my last two videos here on the channel I’ve been saying that this bullish Divergence is one of the main reasons just in the short term that I’m starting to scale into a new long position but obviously it was only one of the reasons there were a few other reasons like for example the drop in the dxy and also due to the fact that we had already pulled back pretty far in the price of Bitcoin during a larger bullish Trend and so once again due to those multiple bullish signals flashing on the chart just over the last couple of days due to all of those reasons as I’ve been saying since those lower prices here on this channel I am already starting to scale into a long position and I’ve been reading some comments and some people are saying that I should actually show my trades in these videos and so here is this trade that I’ve already been talking about over the last few days once again and as of right now the stop loss for this long position as you can see right here is already sitting above my entry price which means in the worst case scenario if the price just flash crashes right now to the downside that would trigger my stop loss and exit me out of the trade automatically in profits and so once again in the worst case scenario this trade still makes profits and in the best case scenario obviously if the price just continues pumping to the upside and especially if we see this breakout for this falling wedge then obviously i’ continue to hold that Bitcoin long position up towards those higher price targets and now if we actually struggle around this area of resistance if we struggle around 63 to 64,000 so basically if we cannot really break out above that level and we start either consolidating or start basically pulling back getting a bit of rejection from that resistance then essentially in that case I may take a little bit of profits off the table out of this Bitcoin long position right here but once again the remainder of the trade I’ll just keep open after I take a bit of profits off the table and that remainder of the trade will either continue profiting as we go higher or once again if we simply pull all the way back down the remainder of that trade will just close in profits anyway with that stop loss and a pro tip for any of the Traders out there that may not already know some of you might already know this but for long positions I always like to trade in inverse Perpetual swaps which basically means using Bitcoin as the position margin and the reason behind that is simply because the profits are calculated and paid out in Bitcoin so for a long position obviously if the price is going to the upside and I’m profiting from that position if I’m also getting paid out in Bitcoin that’s even better if the price goes higher and so basically when I’m taking profits out of this long position what I’m actually doing is just taking more Bitcoin coin out of the trade and holding that Bitcoin as just spot Bitcoin and so by doing this I’m able to turn my existing Bitcoin into even more Bitcoin as the price goes higher and then of course if the price goes higher I also profit from the US dollar value going up and in case you’re wondering I’m taking this trade right here and I take basically all of my trades for Bitcoin and crypto over on buybit so I’ll make sure to leave a link to bybit in the description down below and in the pinned comments and in fact if you use that link down below this video to make a IIT 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 where you can claim an exclusive 200 USD airdrop position and so obviously 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 buybit there is also bitflex which is another crypto Exchange similar to buybit 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 if we’re taking a quick look at the Bitcoin liquidation heat map we can see just recently the price of Bitcoin took out a lot of liquidity to the upside which was sitting at around 625,000 approximately but there’s still a lot of liquidity above the price at around 64.7k to 65k and in terms of downside side liquidity there’s only some liquidity at around 565,000 but especially if we’re zooming out to larger time frames on the liquidation heat map we can still see a lot more liquidity above the price compared to below the price for example we have this major area of liquidity right here once again at around 675,000 and we also have more liquidity to the upside at around 715,000 to 72,000 and so these areas of liquidity are kind of acting as magnets for the price of Bitcoin basically pulling Bitcoin towards those areas and basically once the price crosses above those levels on the chart then billions of dollars of short positions will get liquidated and so that could potentially cause more of a short squeeze to the upside which is also something that I’ve talked about recently here on the channel and another reason as to why I’ve talked about a potential short squeeze happening right now which is potentially what’s happening right now here in the price of Bitcoin is due to the Bitcoin and crypto funding rates because what’s actually surprising me quite a lot right now honestly is even while the price of Bitcoin is spiking to the upside in the short term having a decent bounce back to the upside the funding rates are very very negative and so what this tells us is this is a spot driven rally this is a lot of Demand on the spot Market buying up Bitcoin and not many people trying to Long the market there’s still a lot of people in terms of Traders trying to short Bitcoin and so once again this is making shorting Bitcoin very expensive as the short positions are having to pay more and more funding fees to the long positions because the funding rates are negative and so once again as I’ve already been saying over the last few days this is yet another ingredient of a potential short squeeze which could potentially send the price a lot higher to liquidate those short positions but anyway with that being said getting into the ethereum part of this video this is on the weekly time frame and we’re still seeing yet another perfect Bounce from that 2.9k level of support and obviously on the larger time frames here on the weekly chart we’re still currently within a much larger bullish Trend forming higher lows and higher highs on the larger time frames also known as a bull market and so as always it’s important to understand the difference between the different time frames of course from time to time in the short term we can look a little bit more bearish but that can actually occur during a bull market and if we’re taking a look at the daily eth to us doll chart right now we’re continuing that short-term Bounce from this exact level of support which was once again sitting right at around 2.9k and this descending line of resistance for this falling wedge pattern is sitting at around 3.3k and we could also find some resistance at this High which is also sitting just underneath 3.3k and so in order to actually confirm the breakout for this falling wedge obviously we need to see a confirmed breakout above this line of resistance in order to actually set up the bullish price Target in play which is basically sitting at around the top of the wedge at around 4,000 to 4.1k once we actually see a confirmed breakout Above This resistance which as of right now has not yet happened and if we’re taking a look at that 8h hour time frame we can see the price has been bouncing in the short term from this exact area of support that I’ve already been talking about for a while now on the channel sitting in between 2850 to 2950 and Not only was the price bouncing from this important area of support we were also bouncing from exactly oversold territories which is also what I’ve been talking about recently here on the channel because if we’re looking at the last couple of times where the RSI on the 8 hour time frame entered into oversold territories both of those times happened right at around a major bounce back to the upside in the price and now it’s important to understand that this oversold signal by itself is not necessarily enough to confirm the bottom for the pullback because obviously as we saw back here for example we ended up eventually continuing a little bit lower later on and even just here we saw a short-term bounce and then continued a little bit lower over the next few days and so this oversold signal is only a very shortterm signal which is basically already playing out just as we can see here over the last couple of days and so it’s still a possibility that the price of eth could potentially be within this choppy sideways price range unless we actually see a confirmed breakout above these resistance levels first of all we have this area of resistance in between 3.2k to 3250 and we also have a level of resistance right here at around 3350 and so once again in order to start flipping overly bullish again on the price of eth here in the short term in terms of the short-term Trend we ideally need to actually confirm a breakout above these resistance levels but believe it or not you can actually make a lot of easy profits from choppy sideways press action just like this and if you want to know how to do that then stick around to the end of this video to find out more but first taking a look at salana also on the 8 hour time frame and right now as I’ve recorded in this video the price of salana is running into this exact decending line of resistance which is sitting at around 144 to 145 approximately and so once again this is something that I’ve already been talking about over the last few days I’ve been saying how we’re most likely going to bounce from this exact area of support which is playing out exactly as expected and I’ve been saying how we’re likely going to run into this area of resistance where the price could potentially struggle at but if we actually see a confirmed breakout above around 144 to 145 then in that case we also have this area of resistance in between 150 to 155 we have a level of resistance at 160 and another area of resistance in between 167 to 172 and as for short-term support we have support in this price range in between 120 to 128 and more support in between 99 to 106 and also very similar to ethereum Not only was L up bouncing from this area of support in the price action we were also bouncing from over so territories here in The 8 Hour RSI but it’s important to mention that with this short-term bounce to the upside this has actually reset the RSI to the upside as well which technically now gives us a little bit more room again to the downside if we actually see confirmed rejections from these resistance levels and so once again that’s why I’ve also been saying that we need to confirm a breakout above these short-term resistance levels in order to actually start flipping more bullish again in terms of the short-term Trend and momentum and if you want to trade these moves in the price of salana or any other crypto then once again check out those links down below this video if you want 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 chopping 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 position and the video in the bottom left shows you how you can easily profit from choppy sideways press 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

BITCOIN SHORT SQUEEZE NOW ($250k Trade)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Important Bitcoin Analysis! 0:00
Ethereum Technical Analysis! 13:53
Solana Technical Analysis! 16:58

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*DISCLAIMER*
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