BITCOIN HOLDERS MUST WATCH (It’s a TRAP)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN HOLDERS MUST WATCH (It’s a TRAP)!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto channel of your own my name is Josh and right now Bitcoin is retesting this previous line of resistance to potentially further confirm the breakout as the price is now continuing to form this new pattern in the short term so I’ll be talking about that in just a moment alongside ethereum now rejecting from short-term resistance alongside salana now running into a critical area of resistance 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 getting into the Bitcoin charts today getting into some bitcoin news today because the Bitcoin network has now officially surpassed 1 billion total transactions and this chart right here shows the total amount of Bitcoin transactions that have ever been processed so we can see in the early years back in 2009 and 2010 there were barely any transactions happening on the Bitcoin network but ever since around 2014 2015 going into to 2016 obviously transactions started skyrocketing and basically hitting a limit and right now we’re hitting that consistent limit going straight to the upside pretty much and so this simply tells us that Bitcoin is growing in adoption basically every single year that goes by more and more people are using Bitcoin and all of these Bitcoin transactions on the Bitcoin Network unlike the traditional Finance space all of these Bitcoin transactions have been confirmed and finalized without the help or need for any Bank government or intermediary and so obviously this is why Bitcoin is so valuable because it was basically the first major global payment Network where you don’t need any middleman between the transactions and not only that obviously it’s online 24/7 unlike the banking system it’s also available in every country for as long as you have an internet connection and once again no bank or government needs to be involved to confirm a Bitcoin transaction and so if you want to transact with someone else the Bitcoin network no bank or government first of all has to be involved or can even be involved even if they want to and so despite what happens to the Bitcoin price in the short term obviously we can see short-term fluctuations up and down in the Bitcoin price but despite that happening obviously the fundamentals of the Bitcoin Network are only growing stronger and stronger and with that being said taking a look at the price charts this is on the three-day time frame and right now the price of Bitcoin once again as I said in recent videos here on the channel has just recently completed a 23% pullback from high to low and even that bearish price action here in the short term is still very normal to see even during a larger bullish trend 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 on smaller time frames in the short term from time to time we can be looking a little bit more bearish or a little bit more bullish from time to time but if we’re zooming out looking at the bigger picture the the price of Bitcoin is still currently within a much larger bullish Trend also known as a bull market here on the larger time frames and if we’re taking a look at the dxy on The Daily time frame right now this is still currently pulling back but just over the last one day it’s kind of trading sideways at the moment and so like I’ve said recently here on the channel if we continue to see this pullback continue moving forward then essentially that would be a bullish reversal signal in terms of the short-term Trend and momentum here for the price of Bitcoin because as we can see on this chart right here and as what’s happened throughout bitcoin’s history time and time again when the dxy is bearish that is quite often bullish for Bitcoin and crypto and usually when the dxy is bullish that is often bearish or at least neutral for Bitcoin and crypto and so obviously for the Bitcoin Bulls out there you would be wanting the dxy to continue to pull back as it has been doing over the last half a week or so but obviously for the big coin Bears out there hoping for lower prices you would want this pullback to be over in the dxy and a bit of a bounce back to the upside but as of right now that has not yet happened but as always I’ll keep you up to date on what’s Happening Here in the dxy and many other important charts in these videos every day 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 with that being said taking a look at this daily Bitcoin chart and as I’ve mentioned recently here on the channel the daily Bitcoin RSI has already confirmed a breakout with a couple of daily candle closes with the RSI Above This descending line of resistance and if we’re simply taking a look at the last couple of times this has happened this usually happens just before the next major move to the upside over the next few months or so in the price of Bitcoin but obviously this is talking about the larger moves in the market and during those larger bullish moves we can see some red days here and there in fact right here for example we saw around five red days in a row even during a larger bullish move and so as always it is important to understand the difference between the different time frames if we dump today or tomorrow that does not necessarily change what the larger moves on the chart are and if we’re taking a look at this daily Bitcoin chart looking at the daily Bitcoin macd we have now just confirmed a new bullish cross in this indicator which technically means we are now gaining in bullish momentum here for the price of bit coin and if we’re simply looking at the last couple of times this has happened we can clearly see that this happened just before another move to the upside in the price of Bitcoin over the next few weeks or so but once again we can see some short-term bearish price action here and there but that does not necessarily change the fact that the macd as of right now is actually flipping in the bullish Direction and if we’re taking a look at this daily Bitcoin chart as of right now the price of Bitcoin is retesting this previous line of resistance which could now act as new support if we actually confirm a candle close either on the line or ideally above the line and by the way this line is currently sitting at around 62.8k approximately and so once again as of right now we have not yet confirmed this daily candle close right here but if we end up confirming this daily candle close well below that level then that will invalidate this breakout to the upside and invalidate this falling wedge pattern but at least as of right now we have not yet actually confirmed this daily candle close and so for all we know we could still close above this line and in that case if we actually close above this line and bounce from this line confirming a retest then that can actually further confirm the breakout to the upside for the falling wedge pattern if we successfully confirm a retest with a confirmed Bounce from this level and so obviously if we’re talking about just the short term here for the price of Bitcoin this is a make or break moment because if we further confirm the breakout with a bounce from that level then we still have this price Target up here at around the local Highs at 72 to 74,000 but if we confirm a break back below that level with daily candle closes below that level then in that case that would invalidate the higher price Target and in that case we could also potentially see a move back down towards these local lows just below $60,000 but once again we’re still waiting for confirmation for this daily candle close in either direction and if we’re zooming into the shorter term looking at the 4-Hour Bitcoin chart I talked exactly about this bullish pattern in my last video basically saying that we need to see a short-term pullback down towards around 62 to 63,000 and then we need to see some sort of bounce around this area give or take on the chart in order to actually continue forming this pattern and so obviously as I recorded in this video the price of Bitcoin is playing out that short-term pullback but we do need to see some sort of Bounce sometime soon soon ideally no lower than around 612,000 because for example if the price goes lower than let’s just say 61,000 then in that case that would actually make the right shoulder way too large compared to the left shoulder which would essentially invalidate the formation phase for this pattern and so once again for as long as the price bounces anywhere between right now or all the way down towards around 61,000 for as long as we bounce anywhere in this area and then come back up towards this neckline which is sitting at around 64.8k and then confirm a breakout above that neckline after forming this right shoulder then in that case that will confirm this pattern once we actually see that play out if we actually see that play out and if that happens if we form that right shoulder and confirm the breakout above the neckline that would set up a bullish price target for this pattern at around 73.7k and so from the point of the breakout to that price Target we’re talking about potentially a 13 to 4 14% move to the upside in the price of Bitcoin but once again only if we first form that right shter and then confirm a breakout above the neckline and so with all of that in mind when it comes to my trading strategy right now obviously if you’ve watched my last few videos here on the channel you would know that I entered a long position at much lower prices closer towards this local low and as of right now I am still currently holding that long position obviously it has come down a little bit over the last one day or so and basically if we confirm the invalidation of this breakout right here on the daily time frame with daily candle closes back below this line then in that case I may look to potentially close that position obviously in profits because right now it is still sitting in some decent profits and I also still have my stop loss right here above my entry sitting in profit so even in the worst case scenario I still come away with profits from this trade but the reason why I still have this long position open is because we are still seeing multiple bullish signals on the chart that we need to pay attention to right now and especially if we confirm this successful retest and especially if we confirm this right shter and break out for the inverse Head and Shoulders pattern then in that case obviously that will set up some new bullish price targets that we need to pay attention to so we’re just waiting for extra confirmation in order to actually confirm the next major Direction here in the short term but once again whatever happens here in the short term does not necessarily impact what’s happening on the larger time frames but either way if you want to trade these moves in the price of Bitcoin or any other crypto personally I’m taking this trade right here as I take basically all of my trades over on bybit so I’ll make sure to leave a link to buybit 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 buit 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 will take you to this page right here where you can claim an exclusive 200 USD air drop position but you can only claim this free air drop if you actually use the link down below this video to make a buyit account 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 bybit 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 look at the Bitcoin liquidation heat map we can see just in the short term here that the price took out a lot of liquidity to the upside and now we’re targeting liquidity to the downside just in the short term first of all over the last one day we did indeed hit a lot of liquidity at around 65,000 and now with the latest short-term pullback here in the price of Bitcoin we’re targeting a major area of liquidity sitting in between around 62.2k to 622 ,000 and so once again just in the short term here it is quite likely that we could hit some slightly lower levels here to take out a lot of that liquidity but when we’re zooming out to the larger time frames we can still see massive levels of liquidity above the Bitcoin price for example sitting at around 675,000 approximately and so obviously we can see here that those shter term levels of liquidity are really nothing compared to those much larger levels where there’s billions dollar of liquidity first of all sitting at around 67.3k to 67.6k and more liquidity billions of dollars sitting in between around 715,000 to 72,000 and so potentially after we take out that short-term liquidity that I just mentioned we could potentially continue up towards those higher levels of liquidity eventually at some point and once the price of Bitcoin eventually crosses above those levels on the chart then that will liquidate billions of dollars of short positions which can continue a short squeeze further to the upside once we actually break out above those levels on the chart which as of right now has not happened and if we’re taking a quick look at the Bitcoin and crypto funding rates as of right now the funding rate is still sitting just below neutral because neutral is 0.01% and so technically speaking these funding rates are still currently leaning more in the bullish Direction rather than bearish but to be fair they are not as negative as they were just a few days ago go which means they are coming up towards their neutral funding rates and if you’re new to all of this and you have no idea what the funding rates actually mean then check out my last few videos here on the channel to find out more and with that being said getting into the ethereum part of this video this is on the daily time frame and right now the price of eth is still trading right in between this support and this resistance for this potential massive falling wedge pattern and as of right now this line of support is currently sitting at around 287 and this line of resistance is currently sitting at around 3350 and so obviously in order to actually confirm a breakout for this falling wedge and set up a bullish price Target we need to First confirm a breakout above that resistance which as of right now has not happened and if we’re taking a look at the 12-hour time frame right now we technically still have a major bullish Divergence which is currently active on the chart but obviously the price has just run into a major area of resistance which I have been warning about recently here on the channel because once again as I’ve been saying here on the channel we have a major area of resistance in between 3.2k to 3250 and we have more resistance at around 3350 more resistance in between 3470 to 3530 and a significant level of resistance at around 3650 and as I also mentioned recently here on the channel we ideally need to at least confirm a breakout above this area and this high right here in order to actually confirm more of a bullish Trend reversal here in the short term because for all we know with the price trading below this area of resistance and below this previous High the price is still potentially just trading in this choppy sideways price range which once again is something that I mentioned recently here on the channel and the area of support for this choppy sideways price range is still sitting in between around 2850 to 2950 and believe it or not you can still make a lot of easy profits in 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 and so over the last 1 day nothing much has really changed here for the price of eth and so getting into the salana part of this video looking at the 8 hour time frame and right now as I’ve record in this video the price of salana is running into this area of resistance sitting in between 150 to 155 and so as usual these areas of resistance is where the price is most likely going to struggle at and as of right now we are indeed seeing the price somewhat struggle around this area exactly as expected but if we actually see a confirmed breakout with candle closes above 155 then in that case we still have some resistance at around 160 and a major area of resistance based on previous support sitting in between around 167 to 172 and as for short-term support right now in case we see a rejection from this resistance then in that case I would expect support around this previous line of resistance now now acting as new support potentially at around 141 to 142 and below that we also have major support in this range sitting in between 120 to 128 and technically speaking this major bullish Divergence on the 8 hour time frame with lower lows in the price and higher lows in the RSI is still technically active and playing out and so once again a bullish Divergence basically means we should not necessarily expect a significant amount of bearish momentum and so usually these player in the form of a bullish relief or at the very least some choppy sideways price action as the most likely outcomes and once again if you want to trade these moves in the price of any crypto 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 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 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

BITCOIN HOLDERS MUST WATCH (It’s a TRAP)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin News Today!! 0:00
Important Bitcoin Analysis! 2:21
Ethereum Technical Analysis! 13:41
Solana Technical Analysis! 15:40

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*DISCLAIMER*
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