welcome back to the crypto Today News everyone my name is Josh and right now Bitcoin is finally attempting a breakout above the final significant area of resistance which means we could soon see the price of Bitcoin head up to alltime highs while black rock is still buying hundreds of millions of dollars every single weekday worth of bitcoin and on top of that ethereum is also attempting a breakout above significant resistance while salana is still breaking out to the upside from this bullish pattern so I'll be talking about all of that and more later in the video so definitely watch to the end first of all we need to talk about the Bitcoin ETF news today because just over the last one day Black Rock alone bought approximately 10,000 Bitcoin worth around half a billion US just in the last one day and so right now black rock is currently holding over 105,000 Bitcoin in their spot Bitcoin ETF in their ishares Bitcoin trust as we can see here on black Rock's own website
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105,3 180 Bitcoin worth over 5. 1 billion and so as I explained in more detail in my last video here on the channel it's very clear that black rock alone buying hundreds of millions of dollars worth of bitcoin every single weekday is helping to push the price of Bitcoin much further to the upside because remember right now only 900 Bitcoin is mined per day and added to the circulating Supply and after the Bitcoin Haring in just two months only 450 Bitcoin will be mined per day and added to the circulating Supply and so as of right now black rock is currently buying over 10 times the amount of Bitcoin that's actually being mined each day and so if this continues this will quickly lead to a massive Supply squeeze where essentially there's not enough Bitcoin to go around and black rock will have to start bidding much higher prices for each Bitcoin that they're buying and if we're taking a look at the outflows from the grayscale Bitcoin trust this is
grayscales Bitcoin ETF they sold roughly around 2,400 Bitcoin worth a little over 100 milli million us just yesterday but obviously this is now nothing compared to what Black Rock alone is buying for their spot Bitcoin ETF and when you're looking at all of the other ETFs because of course there's 11 spot Bitcoin ETFs just yesterday just on the 13th of February we saw around $630 million us flow into the spot Bitcoin ETFs and this is the net inflow so this is also factoring in those outflows from grayscale and so essentially just in the last one day alone we saw over 6 100 million of new money New Capital coming into Bitcoin and buying up Bitcoin and so obviously this is a big deal seeing hundreds of millions of dollars and this could soon be billions of dollars buying up Bitcoin every single weekday due to these spot Bitcoin ETFs and so once again as I've been saying here on the channel the spot Bitcoin ETFs are extremely bullish for bitcoin's price over the longer term of course as soon
as they launched roughly around one month ago we saw a lot of initial selling pressure from grayscale which was expected but now that that selling pressure is really dying down and gry scale is not really selling all that much anymore meanwhile buying pressure is picking up steam we're seeing more and more buying pressure from other ETFs like black rock of course this is extremely bullish for Bitcoin fundamentally speaking and also with the Bitcoin harving in just two months from now it's very clear that this is a major setup for a major bull market and if we're taking a look at the Bitcoin charts today looking at the weekly time frame right now as a recording this video the price of Bitcoin is attempting a breakout Above This golden pocket area of resistance which was sitting in between around 48,000 to 50,000 approximately and now at least as of right now the Bitcoin price has not yet confirmed a weekly candle close above 50,000 and the next weekly candle close
is in roughly around 4 days from now and so technically speaking here on the weekly time frame we have not yet confirmed the breakout but once again as of right now we are beginning to attempt that breakout as the price is currently trading above 50,000 and if we do see some confirmation confirming that breakout like this weekly candle close above 50,000 then we will likely head up to at least around 57 to 58,000 where we could find some short-term resistance but that 78. 6% Fibonacci level is not as significant as the golden pocket which is why I've been saying recently on the channel that if we confirm this breakout above 50,000 honestly we could potentially see a quick move up towards the alltime high at around 69 to 70,000 and then at roughly the alltime high as we get much closer to the alltime high we could find some resistance around that level before eventually seeing a major breakout into fresh new all-time highs likely coming this year and so as
always it is important to understand the difference between the different time frames for example on the 4-Hour chart or smaller time frames of course we can see bearish price action and bullish price action here and there but if you're zooming out to the larger Trend the larger moves that are really happening here on the weekly time frame it's very clear that we've been basically bullish non-stop since since around the beginning of 2023 as I've been saying here on the channel since the beginning of 2023 and now once again during this larger bullish Trend we can see short-term bearish price action here and there but when in doubt zoom out and if we're taking a look at the 3-day Bitcoin chart once again this volatile move is still playing out exactly as expected obviously I've been talking about this bullish volatile move every single day since two days before it actually started and that was sitting at around 42 to 43,000 when I first started talking about this move and every day
since around 42 to 43,000 I've been saying that within around 1 to 2 weeks we could potentially see the price go up towards 51 to 55,000 which so far is playing out exactly as expected and so obviously if you've been watching my videos over the last one to two weeks congratulations if you took advantage of this move that I've been talking about basically every day over the last one to two weeks and if we're taking a look at the daily time frame obviously right now in terms of the momentum here in the daily Bitcoin macd we're clearly looking at a lot of bullish momentum now playing out and so once again it's still possible we can see short-term bearish moves and things like that on smaller time frames just in the immediate short term but when we're looking at the overall Market where the overall Market is really heading especially on larger time frames it's very clear that we're currently looking bullish especially in terms of the trend and momentum and now obviously at the moment the daily
Bitcoin RSI is indeed overbought and it has been overbought previously during this massive bullish Trend right here but it's important to understand that just because the RSI is overbought that does not guarantee we're going to see a massive crash or Trend reversal or anything like that for example the last time we saw the RSI at these levels that was all the way back around here in October and after we saw that basically we saw a bit of a Slowdown from the crazy bullish price action but we were still ultimately trending in the bullish Direction considering we had a lot of bullish momentum back then and so that's basically the situation right now as of right now we're still playing out that extremely volatile move in between 51 to 55,000 was the original Target once again but then after that extremely volatile move finishes playing out of course we could still potentially drift further to the upside because we still have a lot of bullish momentum carrying the market higher and if you want to
take these trades in the price of Bitcoin or any other crypto personally I take those trades over on buybit so I'll make sure to leave a link to buybit in the description down below and in the pinned comments and if you use that link down below this video to make a buybit 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 bybit there is also bitflex which is another crypto exchange similar to buybit but you don't need kyc for bitflex and also right now there's an exclusive Apple Watch series 9 giveaway happening over at bitflex if you use the link down below this video because that link in the description or in the pinned comment will take you to this page right here where you can 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 in the running for this brand new Apple
watch series 9 into this giveaway and so if you're trading crypto anyway or if you're preparing to take the next trade you might as well get set up ready to go on one of those exchanges either buybit or bitflex using those links down below this video If you want to get those extra bonuses or potentially enter this giveaway right here over at bitflex and now getting back into the Bitcoin charts once again on the daily time frame and larger time frames we're clearly looking very bullish in terms of the trend and momentum but if we're zooming into the much shorter term looking at the 4-Hour time frame of course yesterday I did mention this small bearish Divergence right here with higher highs in the price and lower highs in the RSI and just after I finished recording my last video of course we did an uping that short-term bearish Divergence playout with a shortterm pullback just within the last one day a few hours after that bearish Divergence and then once again due to significant bullish momentum on
larger time frames and players like Black Rock buying a lot of Bitcoin that simply pushed the price of Bitcoin further to the upside invalidating this bearish Divergence right here but what we are now seeing as of recording this video even though the price of Bitcoin is forming a higher high of course the RSI as of right now at least on the 4-Hour time frame is still currently forming lower highs and so essentially this is still potentially forming a new bearish Divergence but it's important to mention that as of right now at least as of recording this video this new potential bearish Divergence is not yet confirmed because in order to confirm this new bearish Divergence we need to confirm this lower high in place in the 4-Hour Bitcoin RSI by seeing some sort of pullback basically confirming that yes we do actually have a lower high in place because otherwise if the price just continues pumping and we just simply see green candles in the price then of course that can push the RSI
further to the upside and if we see higher highs in the RSI Above This previous High there's no bearish Divergence and so at least for now this is just something to look out for but nothing to act on right now because once again it's not yet confirmed and even if it does confirm once again it might not last very long like the previous bearish Divergence and especially during the week when the spot Bitcoin ETFs are trading because remember Black Rock alone is providing hundreds of millions of dollars worth of buying pressure which is pushing the price much higher and if we're taking a quick look at the Bitcoin liquidation heat map obviously over the last one day we did see that slight move to the downside in the immediate short term and we almost hit this area of liquidity that was sitting closer to 48,000 which is something that I talked about in my last video but then obviously the price once again continued further to the upside in this larger bullish trend here and we hit that
upperside area of liquidity which was at around 50. 6k approximately and as for liquidity showing up right now we have some new liquidity starting at around 52. 2k going up towards around 52. 3k and so we could potentially see a move up towards that higher level of liquidity just above 52,000 and as for downside liquidity honestly we don't really have a lot of downside liquidity until we get to prices down towards around 475,000 to 48,000 and so basically if you're bearish for any reason that could be a possible downside price Target but once again overall if we're looking at multiple factors and indicators and signals and everything like that of course overall as of right now we're simply looking more bullish than bearish and something similar can be said for ethereum if we're looking at the eth to US dollar chart on the weekly time frame right now
as a recording this video the price of eth is attempting a breakout above this important golden pocket area of resistance on the logarithmic chart which is sitting in between around 2530 going up towards around 2680 approximately but once again just like Bitcoin this breakout has not yet been confirmed because we have not yet seen a weekly candle close above the golden pocket and once again the next weekly candle close is in roughly around 4 days from now and now if we do end up seeing that Weekly candle close ideally above 2. 7k then in that case once we confirm this breakout the next major price Target to the upside for ethereum is sitting at around 3. 4 4K to 3. 5k and that is based on not only the 78. 6% Fibonacci level on the logarithmic settings it's also based on this previous high once again at around 3.
4 to 3. 5k and then after we eventually see a confirmed breakout above 3 a half thousand at that point then we can start looking towards the all-time high and if we're taking a look at the daily time frame for the price of eth obviously as of right now like I've been saying every single day over the last two weeks or so of course the momentum is still looking extremely bullish right now especially on the daily time frame and this is happening despite the fact that the RSI is currently overbought which technically means in the shorter term we're currently overheated meaning the price has gone too far to the upside too quickly but once again as I explained earlier in the video and as we can see back here on the chart just because the daily ethereum RSI is overbought that does not necessarily mean the end of the bullish Trend it just typically means we're due to see some sort of slow down from all of the crazy bullish price
action but once again we could potentially see more bullish price action later on and especially because once again the momentum in the market is very bullish right now which is carrying the overall Market a lot higher especially with a lot of new money coming in from those ETFs and if we're taking a look at the 8 hour time frame right now as of recording this video the price of e is attempting a breakout Above This short-term area of resistance which is sitting in between around 2690 going up towards around 2720 approximately and obviously as it get see here over the last one day we saw a pretty much perfect rejection from this area of resistance and then we came back down towards this level of support and then we saw pretty much a perfect bounce right from that level of support which by the way was sitting at around 2590 and so as for short-term support that is still the level of support to pay attention to and if we confirm this breakout with at least an 8-hour candle
close above around 2720 then this area of previous resistance could become new support and so once again again overall we're simply looking more bullish than bearish especially when we're zooming out to the larger time frames and so due to that I'm still holding my ethereum long position as I've been talking about here on the channel basically every day since all the way back down here and personally with my ethereum long position I'm just keeping that long position open and basically moving my stop loss further into profits as the price pumps Higher and Higher and so that way I'm basically maximizing my potential opportunity if the price just continues pumping I continue to profit from that long position and then eventually at some point we'll see some sort of decent pullback and that'll just trigger my stop loss and exit me out of the trade automatically in massive profits because I'm moving my stop loss further to the upside as the price goes further to the upside and once again if
you want to take trades just like that to maximize your profit in this market then check out those links down below this video either bybit or bitflex to get a lot of extra bonuses if you use those links and if we're taking a quick look at the price of salana on the 8 hour time frame obviously right now as I've recording this video we're continuing the bullish breakout from the bullish inverse Head and Shoulders pattern and obviously over the last one day we saw pretty much a perfect rejection from this Fibonacci level which was sitting at around $114 approximately but obviously we did not invalidate the breakouts because we did not see any 8-hour candle close back below $15 and so considering this breakout is still currently active once again right now I'm still holding my salana long position as I've been talking about here on the channel basically every day since we originally saw this breakout and right now this bullish price target for
the inverse Head and Shoulders pattern is technically still active which is sitting at around $133 but between now and then we could find some resistance at around $126 based on this previous high and once again as I mentioned in my last video for this leveraged long position that I have on the price of salana in the worst case scenario if we crash right now that will be perfectly okay in my position because I have my stop loss for this trade sitting slightly in Profit just above my entry price and so once again if we see a crash right now that will just trigger my stop loss and exit me out of the trade automatically in some slight profits and once again I usually take these trades over on bybit link down below but if you cannot access bybit for whatever reason check out bitflex if you want to enter that giveaway and if you want to know how you can actually take these trades in the price of salana or any other crypto no matter if the price is going to the
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upside to the downside 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 can open and close long positions and short positions to profit if the price is bullish or bearish and the video in the bottom left shows he ha 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
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