BITCOIN: WATCH BEFORE TOMORROW (Fed Meeting)!! Bitcoin News Today & Ethereum Price Prediction!

BITCOIN: WATCH BEFORE TOMORROW (Fed Meeting)!! Bitcoin News Today & Ethereum Price Prediction!

welcome back to the crypto Channel everyone my name is Josh and right now this massive bearish signal is still flashing on the Bitcoin chart while the price is now potentially breaking below critical support while ethereum is already now breaking below critical support and in less than 24 hours from now we have new inflation numbers being released and a Fed meeting happening in less than 24 hours 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 we need to talk about the upcoming fomc meeting also known as a Fed meeting and also the inflation numbers that will be released within the next 24 hours because those two events can potentially significantly impact the price of Bitcoin and really overall financial markets the crypto Market the stock market Etc and basically in case you’re new to all of this the inflation numbers that will be released within the next one day can potentially what the Federal Reserve does or says and obviously the Federal Reserve being the central bank that controls the world Reserve currency the US dollar that can affect the US Dollar’s value and the overall financial markets and the new inflation numbers will be released at exactly 12:30 p.m. in the GMT time zone on the 12th of June so in less than 1 day from now and as of right now the expectations basically everyone in the market is expecting for CPI inflation to come in at 3 .4% year-over-year and essentially if inflation comes in below those expectations so for example if we get something like a 3% or 3.1% that is considered bullish but if the inflation number comes in above expectations like 3.6 or 3.7% that is considered bearish and the reason behind that is pretty much solely based on the Federal Reserve so essentially if inflation is low then the Federal Reserve doesn’t really need to keep it rates much higher for longer and interest rates being at higher levels is bearish for the economy and bearish for markets and so once again if inflation comes in below expectations that means the Federal Reserve may not keep rates higher for longer which is bullish and if inflation comes in above expectations that basically means the Federal Reserve may have to keep rates much higher for longer and once again that would be bearish if interest rates are higher for longer and basically the closer to expectations that we get with the new inflation numbers when they get released the more neutral that is so for example if we get 3.3% or 3.5% that probably won’t affect markets all that much but on the other hand if we see something like 3% or anything below 3% for the CPI inflation year-over-year that would be extremely bullish but if we see something closer to 4% like a 3.8 3.9% something like that that would be extremely bearish and so essentially the further away from expectations the actual numbers are the more volatile we’ll likely see Market when the numbers get released and I will be sharing the new inflation numbers as soon as they get released over on my Twitter link down below if you want to get extra realtime updates throughout the day and talking about the upcoming fomc meeting also known as a Fed meeting because that’s also happening tomorrow and so we’re getting two major Financial events happening together basically within the next 24 hours and the fomc meeting is currently expected to basically keep interest rates the same as of right now that is the expectation and the interest rate decision so the results of what the FED will be doing with interest rate that will be released at exactly 6:00 p.m. in the GMT time zone tomorrow on the 12th of June and so we will first get the new inflation numbers and then just a matter of hours after the inflation numbers get released we will see the FED meeting the interest rate decision and if we’re taking a look at what the market is currently pricing in for interest rates as of right now pretty much the entire Market is expecting for the FED to not do anything to interest rates tomorrow so basically keep interest rates where they are right now and for future fed meetings the market is also expecting the FED to keep interest rates where they are right now in the July fed meeting and potentially also in the September fed meeting but when it comes to November or December right around there near the end of the year the market is currently expecting a rate cut so the Federal Reserve reducing interest rates by 0.25% or 25 basis points points and that is where the new inflation numbers could potentially affect these future probabilities so once again tomorrow’s fed meeting it’s still very likely that there’s going to be no change in interest rates even if inflation comes in well above or well below expectations but if the inflation numbers come well above or well below expectations that can change the probabilities for future fed meetings like September November or December and as the market reprices the future probabilities for what we can expect at those future fed meetings the repricing of those probabilities can affect markets in the short term and so once again I’ll be sure to tweet out the results of the FED meeting tomorrow as soon as those numbers get released and I will also be talking about the fomc press conference the Drew press conference which usually happens around half an hour after the interest rate decision because that can also affect markets in the short term and so once again I’ll be covering all of that in real time as it’s happening over on my Twitter link down below but as always I’ll be sharing another update video tomorrow basically talking about everything that’s happened in the last 24 hours and with that being said getting into some bitcoin news today and on Monday looking at the Bitcoin ETF flows we actually saw a net outflow so this is actually ending a massive streak of inflows that we saw over the last couple of weeks and so of course seeing this net outflow this is bearish and potentially one of the reasons why we saw a dump in the price of Bitcoin over the last one day because we saw this net outflow from the Bitcoin ETFs which basically means the Bitcoin ETFs were having to dump Bitcoin on the market and so due to this net outflow of around $65 million once again that was around $65 million of sell pressure that we saw on Monday and with that being said taking a look at the Bitcoin chart looking at the 3-day Bitcoin chart and as of right now not much is really changed on the 3-day time frame because technically speaking we’re still technically within a larger bullish trend forming higher lows and higher Highs at least for now on the 3-day time frame which is technically a bull market but obviously in the shorter term during the larger bull market or the larger bullish Trend we can see periods of sideways consolidations or pullbacks or short-term bearish Trends even during the larger bullish Trend and so as always it is important to understand the difference between the different time frames so for example on the larger time frames we can still remain within the larger bu Trends but if we’re zooming into the shorter term that can flip between bullish and bearish much more often and if we’re taking a look at this 3-day Bitcoin chart as of right now the price is still potentially forming this massive inverse Head and Shoulders pattern which will be a bullish pattern if we confirm a breakout Above This neckline so basically if we complete the pattern with a confirmed breakout above around 71.7k but obviously as of right now we have not yet seen any confirm confed breakout above 71.7k with a 3-day candle close and as I’ve also said recently here on the channel we ideally need to break out above around 73 to 74,000 to become more confident that we’re actually really breaking back into the bullish Direction here on the larger time frames and so as of right now this potential massive bullish price Target to the upside is not yet confirmed or in play because we have not yet confirmed a breakout Above This resistance and if we’re taking a look at this daily Bitcoin chart as right now the dxy is still bouncing to the upside which as I’ve been warning about over the last few days this is a warning signal a bearish signal for Bitcoin and crypto at least in the short term and since I started warning about this new bearish signal over the last few days we’ve seen pretty much nothing but bearish price action over the last half a week or so and what we are also now seeing in the dxy is not only a further bounce but also a new higher high potentially forming here in the dxy which is another bearish signal because if the dxy is trending back into the bullish direction that is bearish for Bitcoin and crypto as we’ve seen time and time again and vice versa if the dxy is trending in the bearish direction that is almost always bullish for Bitcoin and crypto and so once again higher highs in the dxy is the first sign of a bullish Trend reversal in the dxy which would be a bearish trend reversal for Bitcoin on The Daily time frame but in order to become more confident that the dxy is actually flipping much more bullish again we ideally also need to start forming some higher lows in place to actually be sure that we’re really starting a new bullish Trend and so this will definitely be something to keep an eye on moving forward and as always I’ll be sure to keep you up to date on what the dxy is doing in these videos basically every day and many other important charts in these videos 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 as of right now and what we’ve just seen over the last one day is obviously another short-term dump within this sideways price range but we did actually Wick to the downside below this critical area of support which is sitting in between around 67 to 68,000 but at least as of right now at the time of recording this video we have not yet confirmed a daily candle close confirmed below 67,000 at least not as of right now and so for all we know this could just be a candle wick to the downside which we have seen previously so this is not necessarily a confirmed break to the downside yet but if we actually see daily candle closes below 67,000 then in that case that would be obviously a bearish signal in the short term pointing towards potentially a move down towards this next area of support in between around 63 to 64,000 but at least for now there’s still a possibility that the price of Bitcoin can find support at around this area 67 to 68,000 if we close this candle above 67,000 and as I’ve been mentioning over the last few days we are clearly now seeing a lot more volatility here in the short term I mentioned right back here that during the weekend on Saturday and Sunday we should not be expecting a lot of volatility as we almost always see over the weekends but near the end of the weekend I’ll was warning that as soon as we start entering into the new week on the Monday and the Tuesday expect a lot more more volatility coming very soon and that’s exactly what we have seen as expected we’ve now seen a lot more volatility now that the new week has started and so with all of that being said what is my trading strategy for Bitcoin right now and well as of right now I’ve actually added to my Bitcoin long position which I shared I would do a few days ago I said if the price of Bitcoin pulls back to this area of support I’d potentially look to add to my Bitcoin long position and of course this is happening after I took profits from that Bitcoin long position right around here at 71 to 72,000 which I also said I would around a day in advance before we even hit those levels and you can actually see here on my buit account the actual orders that I’ve placed here on the market so I’ve placed sell orders right here you can see that is where I talk profits basically at that exact high at 71 to 72,000 and right here at around 66,000 I’ve just added to this position by buying more B Bitcoin on this derivatives market and so just yesterday this was a $100,000 Bitcoin long position but as of right now this is now back to a $250,000 Bitcoin long position so A4 million trade and as of right now my stop loss for this trade is still in profits so even in the worst case scenario if we just continue that dump to the downside that will just hit the stop- loss and close the rest of the trade in profits and so as always I’ll be sharing these trading opportunities very transparently day by day and sharing the moves before I even make the moves here on the channel completely for free so make sure you subscribe to this Channel with notifications turned on so that you don’t miss out on these trading update videos where I’m sharing this trading strategy where you can potentially make a lot of easy money as I’m doing right here and if you want to take trades just like this for yourself then personally I’m taking this trade over on buybit so I’ll make sure to leave a link to bybit 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 buyit 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 buybit account using that link making a deposit and claiming their 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 kyc for bitflex and so I’ll also make sure to leave a link to bit flex down below this video as an alternative crypto exchange and if we’re taking a quick look at the Bitcoin liquidation heat map obviously we can see over the last one day we continued that shortterm dump that short-term pullback and right now we do have a decent amount of liquidity to the downside sitting at around 655,000 approximately so right in this area that we’re coming into contact with we do have a decent amount of liquidity that the price is grabbing but with that being said the major level of liquidity on this liquidation heat map is still sitting above the current price at around 72.2 to 72.3k so just above $72,000 and as of right now there is still billions of dollars of liquidity right above 72,000 so keep that in mind that is still a critical level to pay attention to on the Bitcoin chart and if we’re taking a look at ethereum on The Daily time frame obviously the price of eth is simply following what Bitcoin is doing with that shortterm dump and I mentioned that a few days ago here on the channel I said that eth and salana and a lot of top altcoins will most likely just follow what Bitcoin is doing so if Bitcoin has a dump a lot of ults will also likely dump but if Bitcoin has a major move to the upside a lot of TS will also likely experience bullish price action and so that’s why it’s definitely worth paying attention to bitcoin even if you’re mainly in the altcoin market Bitcoin kind of moves a lot of the crypto market and so as of right now and as I’ve already been saying over the last couple of weeks the price of eth has basically lost all of that previous bullish momentum we are clearly lacking momentum here in the short term well lacking bullish momentum I should say but technically speaking this breakout and this falling wedge only becomes invalidated if we actually see a break back below around 3.2k which at least as of right now has not yet happened but what has happened on this 12-hour time frame is a break below this golden pocket area of support which was previous resistance and this was a critical area on the chart sitting in between around 3.6k to 3650 and I’ve been saying over and over again here on the channel that if we start breaking below 3.6k expect a move at least down towards around 3450 which is exactly what has happened and as of right now we’re finding support around that area but if we also see candle closes below 3450 then in that case the next major level of support to the downside is sitting at around 3.3k and so these are still the important levels to pay attention to on the chart now that we’ve broken below the golden pocket and as for resistance in case we see a further bounce back to the upside this golden pocket in between around 3.6k to 3650 should act as new resistance and even if we see a breakout back above 30 3650 we still have a lot more resistance up towards around 3.8k to 3.9k and as of right now if we’re looking at eth BTC this is ethereum versus Bitcoin on the weekly time frame at least for now and as I’ve been saying over the last 1 to two weeks this is still looking bearish ever since we saw another rejection from this descending line of resistance forming a new lower high in this massive bearish Trend and so at least for now eth BTC is still currently looking bearish once again which basically means ethereum is simply underperforming Bitcoin so whatever Bitcoin is doing ethereum is basically doing worse and we can only really flip that around if we start seeing a confirmed breakout for eth BTC Above This resistance and ideally above some previous highs which at least as of right now has not happened and if we’re taking a quick look at the price of salana on the 8 hour time frame salana has also followed along with Bitcoin and ethereum with that shortterm dump to the down side and obviously we’ve now finally picked up a little bit more bearish momentum in the short term which I was initially expecting once we broke below 160 but we did have around a day or so of a pause basically a sideways consolidation in that bearish movement but either way when we broke below 160 initially I was expecting a move down towards this area anyway sitting in between around 140 to 144 and as of right now we’ve done pretty much exactly that just with a short-term delay in the middle and so for now 140 to 144 to 145 around that area that is the area of support to pay attention to in the short term and if the price of salana actually confirmed candle closes back below 140 then in that case we could potentially see a move back down towards around 120 to 128 and as for resistance if the price actually sees a bounce from where we are right now then in that case we do have resistance closer towards 160 based on these previous highs acting as resistance and also previous support becoming new resistance and obviously in terms of the short-term Trend it is quite clear that at least on the 8 hour time frame we are trending in the bearish direction because if we’re looking at the highs and the lows we’re looking at lower highs and lower lows which is technically a bearish trend at least in the shorter term on the 8 hour time frame but either way if you want to trade these moves in the price of any crypto once again 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 and short positions 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

BITCOIN: WATCH BEFORE TOMORROW (Fed Meeting)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
WATCH BEFORE TOMORROW!! 0:00
Bitcoin News Today!! 5:35
Important Bitcoin Analysis! 6:16
Ethereum Technical Analysis! 14:31
Solana Technical Analysis! 17:20

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