BITCOIN: THE NEXT DUMP HAS STARTED!!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN: THE NEXT DUMP HAS STARTED!!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin is rejecting again from this important line of resistance while the price is potentially repeating history so I’ll be talking about that in just a moment alongside my trading strategy alongside ethereum now running into critical short-term support while salana is now rejecting again from this same area of resistance so I’ll be talking about all of that and more later in this video so definitely watch to the end first of all just giving you a quick update on the 3-day Bitcoin chart and over the last one day not a lot has changed on this chart right here because as of right now technically speaking there’s still a hidden bullish Divergence forming right now on the 3-day time frame because at least as of right now we have lower lows already confirmed in the 3-day Bitcoin RSI while higher lows are still forming here in the price of Bitcoin which is a hidden bullish Divergence and technically speaking despite the pullback from from alltime high to where we are right now technically speaking the larger Trend at play on the larger time frames is still bullish because if we’re looking at the significant lows and highs in the price we can see that the price is still forming higher lows and higher highs which is a bullish Trend by definition also known as a bull market because we’re talking about the larger time frames and so as always it’s important to understand the difference between the different time frames yes in the short term we can flip between bullish and bearish from time to time but on the larger time frames talking about the bigger picture the longer term technically speaking we’re still looking more bullish than bearish on the larger time frames but with that being said taking a look at the daily Bitcoin chart looking at the dxy and just today we’re seeing a very slight Spike to the upside a very small bounce to the upside in the dxy and so possibly this is one of the reasons as to iosing a bit of a short-term dump just today in the price of Bitcoin but as always I’ll be sure to keep you up to date on what Happening Here in the dxy and many other important charts 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 because in case you’re new to all of this usually when the dxy is bullish that is quite often bearish for Bitcoin and crypto and vice versa if the dxy is bearish that is often bullish for Bitcoin and crypto and so once again that’s why I’ll be keeping a close eye on what’s Happening Here in the dxy but over the last half a week or so it hasn’t really moved all that much and so with that being said taking a look at this daily Bitcoin chart and right now in the daily Bitcoin RSI we have actually just seen a retest of this previous descending line of resistance which is currently acting as new support we have actually bounced from that level on the RSI and if we’re taking a look at the last time we saw a breakout above a significant descending line of resistance in the daily Bitcoin RSI and then we saw a successful reta test and a bounce from that level the last time that happened the last time we saw this very thing happen in the RSI was back here during around mid to late September last year and if we’re looking at what happened in the price of Bitcoin at that stage that was happening just after we saw a decent pullback in the price of Bitcoin and when we were starting to enter the recovery phase out of the pullback but while we seeing that retest in the RSI we did actually see another short-term pullback in the price but that did not actually pull back lower than this previous low and of course we still saw some pullbacks here and there along the way up in the larger bullish move and so for as long as the price of Bitcoin can hold Above This previous low right here which is sitting at around 56 to 57,000 for as long as the price of Bitcoin can hold above that level we could potentially repeat history as to what we saw back here but once again the point of invalidation is if the price of Bitcoin starts breaking below this low to form a new lower low obviously that would tell us that we’re still in the same pullback but at least for now we have actually just seen a retest in the daily Bitcoin RSI which is something to pay attention to because once again the last time we saw that actually happen was back here but as of right now and as I’ve already been saying over the last few days right now the market in general but especially Bitcoin is lacking momentum technically speaking the macd is more bullish than bearish as of right now because it has not yet confirmed a new bearish cross but it is getting very close to a bearish cross but either way even though it has not yet confirmed a new bearish cross the momentum is very flat and so that’s why in terms of the trend and momentum in the somewhat shorter term here we’re not really going anywhere we’re basically chopping around sideways going up and down so we’re flipping between bullish and bearish very often here just in the short term and once again that’s because as of right now we are lacking momentum where lacking a strong Trend to either direction which is why the price is just chopping around sideways looking relatively neutral and once again I’ve already been saying this over the last 2 days or so and I’m saying it again today right now the market is lacking momentum and if we’re taking a look at this daily Bitcoin chart just recently we’ve seen another perfect rejection from this descending line of resistance which is currently sitting at just above $63,000 and so obviously this is still proving to be some strong resistance for the price and when we eventually see some sort of breakout Above This resistance with a strong candle close well above this line of resistance and ideally confirming higher highs with a breakout above a previous High then in that case we can start to actually flip much more bullish again in terms of this shorter term Trend but once again at least for now that has not yet happened we are still rejecting from this line of resistance and as for support we have this line right here which is sitting at around 575,000 and so technically speaking the price of Bitcoin is essentially still forming this massive falling wedge pattern as of right now with the price somewhat lacking momentum in the shorter term to either direction and if we’re taking a look at this daily Bitcoin chart we’re also running into this horizontal area of support sitting in between around 60.5k to 61k and so at least for now as I’ve recorded this video that is acting as strong support as we’ve seen pre previously but if we start to break below around 605,000 then in that case we could potentially see a move down towards around 58 to 585,000 as the next important area of support and we also have this level of support sitting at around 565,000 based on this candle wick low and so those are some important areas of support to pay attention to just in case we continue some sort of short-term pullback here for the parasa Bitcoin and if we’re taking a look at the 4H hour time frame just in the shorter term it’s pretty much safe to say at this point with this latest pullback it’s pretty much safe to say that this inverse hand shoulders pattern is no longer forming but obviously as I’ve already been saying here on the channel this pattern was never even confirmed to begin with because in order to confirm this pattern we would have to complete the right shoulder and then see a confirmed breakout above the neckline which was sitting at around 64.8k and obviously that never actually happened and so when a pattern is Po potentially forming is just something to pay attention to but nothing to act on because it never actually confirmed and when it comes to my trading strategy right now as of right now honestly it has not really changed over the last few days and so basically since all the way back down here as I’ve been saying here on the channel I was scaling into a Bitcoin long position around these lows and I did actually take some profits out of that position as I mentioned in my last video I took some profits right around here as the price was starting to pull back and so as of right now once again I’ve taken some profits just in case this position basically completely fails and we fail that bullish move and on top of that my stop loss for this trade is already sitting above my entry which in the case of a long position is sitting in profits and so even in the worst case scenario if this bullish move completely fails and we just see a further pullback or a crash in the price of Bitcoin once again that would hit the stop loss in profits and close the rest of the trade in profits and once again I already have taken some profits off the table and person when it comes to my trading strategy obviously this is not going to work for anyone so this is not foret your advice but when it comes to my trading strategy usually a more of a swing Trader which means I’m usually taking more of the swings in the price of Bitcoin not the short-term moves not scal trades but longer term trades in the price of Bitcoin and so personally when it comes to my usual trades I’m usually holding my trades at least over multiple days usually multiple weeks and sometimes even over multiple months and so personally when when it comes to a smaller move like this on the chart I’m not exactly looking to open a trade and close the entire trade just to make profits on that little move right there and so once again personally when it comes to my trading strategy I’m perfectly okay with letting those profits go if I miss out on that small move right there that’s okay if it means I’m able to eventually catch a larger move in the market because for those of you that were watching this channel a couple of months ago you’ll know that I caught this move right here but for ethereum basically a large swing trade to the upside and personally in my experience the biggest mistake you can possibly make for a swing trade is closing the trade too early and so once again this may not end up being the perfect swing trade but when we eventually catch a good swing trade one of those trades can make far more profits than any smaller trades could make and so that’s why I like to focus on the larger moves in the market the swing trades rather than just trying to perfectly the market in the short term with entering at a low and entering at a high because usually if you’re doing that especially on high leverage that’s usually not going to end very well over the longer term but either way if you want to take trades just like this to make a lot of easy profits in crypto then make sure to check out this exchange which I’m trading on right now which is buybit so I’ll make sure to leave a link to buybit in the description down below and in the pinned comment and if you use that link down below this video to make a buybit 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 usdt airdrop position just by making a buyit account using that link and making a deposit and claiming the airdrop 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 buybit but you don’t need kic for bitflex and so I will also make sure to leave a link to bitflex down below this video as on alternative crypto exchange and if we’re taking a quick look at the Bitcoin liquidation heat map we can see just recently we took out some liquidity to the upside and now we’re taking out that level of liquidity to the downside that I talked about in my last video because obviously just yesterday I said we still have some liquidity just below the price which is sitting at around 60 and half th000 so I said it’s quite likely the price could return down towards around 605,000 to take out that liquidity before potentially bouncing back up and so that’s exactly what we’re seeing right now and we still have some liquidity at around 60 and a 12,000 to 60.4k and as for upside liquidity we still have liquidity at around 635,000 to 64,000 and we also have a lot more liquidity at around 67,000 on larger time frames but anyway taking a look at ethereum on The Daily time frame and right now the price of eth is still in the short-term bearish Trend forming this massive falling wedge pattern with support sitting at around 2850 and resistance sitting at around 3280 and if we’re taking a look at the 12-hour time frame right now the price of eth is running into a critical area of support sitting in between 2850 to 2950 and previously we’ve found a lot of support in this same area so obviously it would be important for the price to bounce at this area otherwise we could potentially see much lower prices basically if we start breaking below 2850 expect much more bearish price action for ethereum but until we actually confirm a break to the downside below that support at least for now we are still possibly in this choppy sideways price range in between this support and this resistance which we’ also rejected from multiple times first of all this area of resistance is in between around 3.2k to 3250 and we also have some more resistance at around 3.3k and 3350 but obviously if we start breaking below around 2850 then in that case we’ve clearly left the sideways price range and we’re continuing on with the pullback with the short-term bearish Trend and so once again as I’ve said recently here on the channel the market is looking relatively neutral with relatively low momentum at the moment but like I just said if we start breaking this support then we could begin to see more bearish momentum in the short term and as for other levels of support to pay attention to in case we actually break below 2850 well in that case if we’re looking at the weekly time frame looking at the Fibonacci retracement tool from the bare Market bottom up to the latest high in the price on the linear settings we have the 38.2% Fibonacci level of support which is the second most important level of support in the Fibonacci retracement tool and that’s sitting at around 2870 so right around that area of support that I just mentioned but if we start breaking below around 2850 then in that case the next major level of support is the 50% retracement level sitting at around 25,000 and so once again if we start seeing a confirmed break with candle closes below 2850 or if we flip 2850 into new resistance then expect a move down towards 22,000 and if we’re taking a look at the price of Salada on the 12-hour time frame right now the price is rejecting once again from this same area of resistance that I’ve been talking about over and over again here on the channel and this area of resistance is in between 150 to 155 and we also have a level of resistance at around 160 and more resistance in between 167 to 172 and as for short-term support we do have some support at around 140 but below that level of support the next significant area of support is sitting in between 120 to 128 and once again similar to bitcoin at the moment salana is kind of lacking momentum to either direction as of right now at least in the short term because over the last 1 month or so the price has basically been chopping around sideways with no major Trend and momentum to either direction and so that’s simply the situation right now the market is lacking momentum and we’re kind of just chopping around sideways in a sideways consolidation at least for now in the shorter term but if you want to trade these moves in the market no matter if we’re bullish or bearish you can do that using those links down below this video if you want to claim those extra bonuses and if you want to actually know how to make money in crypto no matter if the price is bullish bearish or chopping around sideways like it is right now 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: THE NEXT DUMP HAS STARTED!!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Important Bitcoin Analysis! 0:00
Ethereum Technical Analysis! 11:59
Solana Technical Analysis! 14:25

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*DISCLAIMER*
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