Breaking News in Crypto

welcome back to the crypto News everyone my name is Josh and right now there's only a few hours to go before both Bitcoin and ethereum potentially confirm this major breakout on the larger time frames but on the smaller time frames Bitcoin is still playing out this short-term bearish signal as the price just perfectly hit this bearish price Target to the downside but on top of that the liquidation heat map is revealing new price targets that we need to pay attention to so I'll be talking about all of that and more in just a moment so definitely stick round first of all just giving you a quick update on the spot Bitcoin ETFs because just over the last one day we've finally got the new numbers in from Black Rock showing what Black Rock actually bought on Friday because as of the end of Friday Black Rock is currently holding nearly 120,000 Bitcoin more specifically 119 19,683 billion us and so when we're taking a look at Thursday's numbers these were the previous numbers for Black Rock we can work out that just on

Friday alone Black Rock bought nearly 3. 7k Bitcoin worth just under $200 million just on Friday and so once again as I said in my last video on Friday we still ended up seeing net inflows which means there's still more money coming into the Bitcoin ETFs than what's actually leaving the ETFs or mainly leaving grayscale and so obviously during the weekdays when the stock market's open we see a lot of buying pressure coming in from the ETFs which is why bitcoin's been pumping like crazy over the last one to two weeks or so but as I've been preparing you for the last few days we're most likely going to see at least a sideways consolidation or possibly a pullback over the weekend considering the stock market's closed and we don't have all of that extra buying pressure on the weekend from the ETFs because the ETFs only trade when the stock market is open and now usually we see the stock market open again on Monday but this Monday there is a holiday which means the stock market will open up again on Tuesday and so

The Latest Updates and Trends

this is definitely something important to factor in into our Bitcoin analysis basically over the weekend once again it's more possible we could see a bit of a pullback or at least some sort of sideways consolidation and then perhaps on Tuesday if we're seeing a lot of inflows again from those Bitcoin ETFs we could end up perhaps seeing more bullish price action but anyway taking a look at the Bitcoin charts looking at the weekly time frame and right now we are just a matter of hours away from potentially confirming the major breakout above the golden pocket which is sitting in between around 48,000 to 50,000 and in order to confirm this breakout we need to see a weekly candle close confirm above 50k and once again we're just a few hours away from seeing that Weekly candle close confirm and so once again if Bitcoin simply holds above $50,000 over the next few hours then that will confirm this breakout with a weekly candle close above 50,000 and once we confirm this breakout of course the next resistance is sitting at around 57 to 58,000 based on the 78.

6% Fibonacci level but that level is not as significant as the golden pocket and so as I've said recently if we confirm this breakout here then we will likely see a fairly quick move up towards the all-time high in the coming months and also if we see this breakout confirm above the golden pocket then in that case this golden pocket once again in between 48k to 50K should act as new support in case we end up seeing a further short-term pullback and if we're taking a look at the 3-day Bitcoin chart obviously over the last one to 2 weeks or so we've seen a massive volatile move almost straight to the upside going into that price range in between 51k to 55k which is pretty much exactly what I said would happen when the price was all the way back down here at around 42 to 43,000 but now that that move has played out as predicted of course as I've said over the last couple of days I am now saying that this volatile move is essentially over so I do not expect that same level of volatility going straight to the upside but with that being said

that does not necessarily mean this larger bullish trend is over for example it's possible we could see a bit of a sideways consolidation Poss possibly a slight short-term pullback and then perhaps continue higher later on but not necessarily as volatile as what we previously were and just for example if we're looking at what we saw near the end of October going into early November we saw that extreme volatile move almost straight to the upside and then after that volatile move actually ended we saw a small sideways consolidation over the next few days and then a continued rise in the price of Bitcoin but that was a little bit slower than that extreme volatility that we saw previously and if we're looking at this example that we saw at the beginning of 2023 we saw an extreme volatile move almost straight to the upside in the price of Bitcoin and then we saw a bit of a sideways consolidation and then a short-term pullback But ultimately the larger Trend was still bullish even though we saw a bit of a short-term pullback we still ended up trending further to the upside

later on and so once again that is what I'm now expecting moving forward in the short term as I've been saying over the last couple of days I no longer expect that extreme volatility going straight to the upside and instead right now just in the short term we're taking a bit of a break we're having a bit of a breather from all of that crazy bullish price action and if we're taking a look at the daily Bitcoin chart as I actually said in my last video we're currently seeing a decline in bullish momentum now with that being said overall we're still currently more bullish than bearish because we have not confirmed a bearish cross in the macd but with that being said once again as I also said in my last video we're currently seeing a slight decline in bullish momentum while the RSI is currently overbought on the daily time frame and so with these two signals combined this is basically telling us we du to see a bit of a short-term cool off from all of that crazy bullish price action because right now we're simply a little bit too overheated we've gone too far to the

upside too quickly and we need some time to cool off just in the shortterm here and usually those short-term call-offs play out in the form of either choppy sideways press action if not a slight pullback but not necessarily a bearish trend reversal and so once again it's very much possible and probably the most lik L scenario at the moment that we see a bit of a break from all of that crazy bullish price action perhaps over the coming days and then potentially when the Bitcoin ETFs begin trading again on Tuesday if we're seeing a lot more inflows coming in from the ETFs that could cause some more buying pressure pushing the price higher later on after first seeing a bit of a short-term cool off and another reason why we're du to see a bit of a short-term cool off basically not as much bullish price action just in the imminent short term is due to this bearish Divergence now playing out and this is just on the 4H hour time frame so we're only talking about the short term here but once again as I've been saying over the last few days of course I'm expecting mostly

choppy sideways price action if not a slight pullback as the most common outcomes from a bearish Divergence and obviously over the last couple of days this is exactly what we are seeing as expected and once again I continue to expect this type of price action just in the short term at least over the next one to 2 days or so basically until the US Stock Market opens back up again and if we're taking a look at the 45 5 minute Bitcoin chart this is just looking at the imminent shortterm here but like I said in my last video when the price was back around here I said we have this horizontal triangle pattern also known as a symmetrical triangle pattern and basically if we break this line of support which I said in my last video was sitting at roughly around 51. 8k I said the moment we confirm a break below that line of support if we see candle closes below that line of support then that would activate a price Target to the downside which is sitting at around 50. 8 K or 50.

7k right around there and obviously the moment we finally confirmed a break to the downside once we confirmed a couple candle closes below this line of support we pretty much straight away head exactly towards my bearish price Target and then saw a perfect bounce right around the price Target and so obviously if you took this short-term trade if you simply watched my last video and opened a short position anywhere near these breaks to the downside and then close that short position or took a lot of profits off the table around this price Target obviously you could have done very well here even with this small move to the downside even though that was only around a 2% move of course just for example if you had a 10x leverage short position that could have been a quick 20% profit and so that is why it is important to subscribe to this Channel with notifications turned on so that you don't miss out on these trading opportunities that I share in these videos as soon as they show up on the charts but if you missed this trading

opportunity right here do not worry there is always more trading opportunities to come in fact pretty much every single week I'm sharing new OPP opportunities that we can take just like this and if you want to be able to take these trading opportunities obviously you need to be set up ready to go on an exchange and personally I take those trades 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 if you use that link down below this video to make a buyit 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 bybit or if you cannot kyc on bit then there is also bitflex which is another crypto exchange similar to bybit but you don't need kic for bitflex and also right now there's an exclusive Apple Watch series 9 giveaway happening over at bitflex and if you want to enter this giveaway in the running for a brand new Apple watch series 9 all you have to do is click the link down below this

video which will take you to this page right here sign up to bitflex deposit $100 worth of crypto and to make one trade on the derivatives Market over at bitflex and that will enter you into this giveaway in the running for a brand new Apple watch series 9 and so if you're Trading cryp anyway or if you're preparing to take the next trading opportunity you might as well get set up ready to go on one of those exchanges buybit or bitflex using those links down below this video If you want to get those extra bonuses or enter that giveaway but anyway now that the price of Bitcoin has hit my exact bearish price target for this break to the downside of course that means that this technical pattern is now complete it is no longer playing out which basically means we no longer have an active bearish price Target on the chart but of course the bearish Divergence on the 4-Hour time frame is still currently playing out out but if we're taking a look at the Bitcoin liquidation heat map we can see that over the last one day the price of Bitcoin took out all of

that downside liquidity that I talked about in my last video and so once again as I said yesterday before we saw that short-term pullback I said we actually have more liquidity to the downside compared to the upside which means we're slightly more likely to see a pullback rather than a pump but now that we've taken out a lot of that short-term liquidity to the downside of course we still have a lot of liquidity to the upside but not as much anymore to the downside at least in the short term and once again these areas of liquidity usually attract the price of Bitcoin towards those areas but once again as I said earlier because the bearish Divergence is still active on the 4-Hour time frame here once again just over the next one to two days or so we could end up seeing a relatively low bullish momentum so basically this type of price action here but then perhaps when the US Stock Market opens back up again we could see a move to take out all of this liquidity right here which by the way is sitting at around 52. 7 to 52 2.

8k but anyway getting into the ethereum part of this video this is on the weekly time frame and just like Bitcoin on the weekly time frame we're just a matter of hours away before potentially confirming this breakout above the golden pocket because as of right now we still need to see a weekly candle close above ideally around 2. 7k and so basically if the price of eth holds above 2. 7k just over the coming hours then once again that can confirm the weekly kenel close above 2. 7k and in that casee we're finally breaking out above the golden pocket with confirmation which means the golden pocket should act as new support in case we see a bit of a short-term pullback and once again this golden pocket is sitting in between around 2530 to 2670 acting as new support if we see that Weekly candle close ideally above 2. 7k and in that case the next resistance further to the upside is this Fibonacci

level combined with this previous High which is really a price range in between around 3. 4k to 3. 5k and obviously in terms of the larger Trend and momentum on the weekly time frame we're still very much in a bullish trend on the weekly chart also known as a bullish Market or bull market but if we're taking a look at the daily eth to US dollar chart as I also said in my last video we're currently losing bullish momentum just in the short term here and with this happening at the same time as the RSI sitting in overbought territories of course this means just in the shorter term we're a little bit too overheated basically the price has gone too far to the upside too quickly and we need some time to call off and now once again this does not necessarily mean we're going to see a massive bearish trend of reversal or a massive crash back to the downside it does not mean that because often times these short-term call-offs play out in the form of either choppy sideways press

action or sometimes a slight pullback before potentially continuing the bullish Trend later on and so that's basically the situation right now in the short term once again we're cooling off from all of that bullish price action but overall especially in terms of the larger Trend and momentum we're still looking very bullish we're still in a bull market we're just having a bit of a short-term Co off right now and if we're taking a look at the 8 hour time frame over the last one day we saw a perfect retest which is something that I talked about in my last video of this area of previous resistance now acting as new support and once again that area of support is sitting in between around 2680 going all the way up towards around 2720 and we saw pretty much a perfect Bounce from exactly 2720 and so at least for now there's still a lot of buyers in this area right here but if we actually break back below around 2690 approximately then in that case we also have this level of support which is sitting at around 2590 and as for my ethereum long

position that I entered all the way back down here and I actually mentioned here on the channel as soon as I enter that position I shared it here on the channel and as of right now I am still currently in that ethereum long position with my stop loss already sitting in massive profits so even if we see some sort of major crash back to the downside that would just trigger my stop loss and exit me out of the trade automatically in massive profits and once again that was another trading opportunity that I shared here on the channel so once again make sure you subscribe to this Channel with notifications turned on so that you don't miss out on these trading opportunities where you could potentially make a lot of money like I have here and once again if you want to take those trades you need to be set up on an exchange ready to go and once again if you use the links down below this video to make an account on one of those exchanges you can get those extra bonuses if you use those links but anyway taking a quick look at the price of salana on the 8 hour time frame

obviously over the last one day we perfectly retested this golden pocket which is now acting as new support and that golden pocket is sitting in between around $15 to $17 and so once again at least for now that's acting as support we're currently bouncing from that area but with that being said we're possibly forming a new head and shoulders pattern which is a bearish pattern on these charts because as you can see right here we already have a possible left shoulder a possible head and right now we are potentially forming a right shter but this pattern as of right now is not yet complete or confirmed because in order to complete the formation phase for this pattern we need to soon see some sort of rejection and a pullback back to the downside back towards this golden pocket in order to complete that right shoulder and then if we see something like that play out to complete the formation phase of the pattern we then need to see a confirmed break below $15 in order to activate that new head and shoulders pattern which is a bearish pattern and as for

this previous inverse head and shorters pattern which is the opposite of a head and shorters pattern this inverse head and shorters pattern is a bullish pattern which already broke out to the upside and made it roughly halfway between the breakout and the price Target but at this stage considering we already made it roughly halfway and now we've basically pulled all the way back down towards the point of the breakout generally speaking if we see something like that play out we often do not end up seeing this pattern actually complete and hit the full technical price Target and so due to that due to the price of salana now retracing and actually hitting the golden pocket again even though we have not yet broken below the golden pocket which is the technical point of invalidation even though that's the case right now I have actually exited my salana long position in some slight profits because as I said over the last few days I did already have my stop loss for that long position in slight profits and once again I've been sharing that long position since as soon

as we saw this breakout and initial retest I entered that long position right around here and as soon as the trade entered further into profits I moved my stop loss into some slight profits and so once again with the price now retracing back to the point of the breakout I've exited that long position with some slight profits which means if you actually took that trade and you moved your stop loss into profits obviously that essentially secures profits if your stop- loss is in profits and so obviously this trade was not as successful as other trades like for example this Bitcoin trade where we perfectly hit that price Target to the downside or this ethereum trade that's just been pumping and pumping further to the upside since when I entered that long position but with that being said even though the salana break out trade did not hit the price target with my stop loss already sitting in profit we can turn a not so successful trade into a profitable trade and if you want to know how you can trade these moves in the price of salana or any other crypto

In Conclusion

no matter if the price is going to the upside to the downside or simply chopping around sideways you can profit from all of that price action by watching 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 at Short positions and the video in the bottom left shows you how you can EAS 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

Breaking News in Crypto - The Latest Updates and Trends