welcome back to the crypto News everyone my name is Josh and right now despite Bitcoin breaking out on the larger time frames if we're zooming into a smaller time frame we're seeing Bitcoin now playing out this warning signal as the price just perfectly hit a lot of liquidity to the upside but is now potentially targeting some low up prices while ethereum is now playing out a new short-term warning signal so I'll be talking about all of that and more in just a moment so definitely stick around first of all taking a quick look at some Bitcoin ETF news today because just recently over the last few hours we've seen gray scale send another approximately 3,700 Bitcoin out of the grayscale Bitcoin chust and out of that just under 3,000 Bitcoin was sent over to coinbase to basically dump on the market and this is simply because a lot of people are still leaving the
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grayscale Bitcoin trust because grayscale has much higher fees on their Bitcoin ETF compared to other ETFs which basically means a lot of people are pulling their money out of gray scale because they don't want to pay those very high fees and if you're pulling your money out of the grayscale Bitcoin ETF gry scale is having to sell the Bitcoin that backs the ETF in order to pay out those outflows in Us dolls considering it's a cash create ETF and we get these grayscale numbers before the numbers from the other ETFs because of course we're looking at the Bitcoin blockchain so this is basically happening immediately and at least as of right now grayscale is still currently holding over 460,000 Bitcoin worth well over2 billion and as for the Black Rock Spot Bitcoin ETFs and other spot Bitcoin ETFs we have not yet got the numbers in from
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Black Rock and so right now we're just waiting for the new numbers which will likely come in tomorrow telling us how much Bitcoin they've actually bought today and so as always 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 where I'll keep you up to date on all of this Bitcoin ETF news but anyway taking a look at the Bitcoin charts today looking at the weekly time frame and once again again as I mentioned in my last video we just saw a weekly candle close confirm above the golden pocket with the weekly candle close sitting just above 52,000 and of course this golden pocket is sitting in between 48,000 to 50,000 and so once again this golden pocket should now act as new support in case we see a bit of a short-term pullback continue once again 48k to 50K should now act as new support
and as for other levels and of course the trend and momentum on this much larger time frame this has not changed over the last one day so if you're new to the channel and you want to know more about this larger time frame then check out my last couple of videos here on the channel and something similar can be said about the 3-day Bitcoin chart of course around 2 weeks ago when the price was all the way back down here at around 42 to 43,000 I was saying that within around 1 to 2 weeks we're going to see a very quick move up towards a price range in between 51 to 55k which is exactly what has happened but over the last half a week or so I've been saying that this volatile move to the upside is now over I do not expect that extreme volatility to the upside anymore at least in the short term here and instead I expect a bit of a cool off from all of that volatile price action but not
necessarily the reversal out of this larger bullish Trend and so once again like I've said over the last few days we're basically taking a bit of a break or pause from this larger bullish Trend before we could potentially continue higher later on but once again in the short term I don't expect that extreme volatility to the upside like we were previously seeing and that's also partly due to the fact that we are currently losing momentum here in the daily Bitcoin macd as I've also been warning about over the last half a week or so and now technically speaking we have not yet confirmed a bearish cross so we have not yet confirmed significant bearish momentum showing up but with that being said even though that's not the case just yet of course we are already losing bullish momentum which is why I've been saying over the last half a week or so I would not be expecting a significant
move to the upside here in the short term like what we were previously seeing and we're most likely going to see some sort of short-term cool off basically cooling off from all of that bullish press action in the form of either a sideways consolidation or potentially a bit of a short-term pullback before potentially heading higher later on and that's also due to the fact that the price of Bitcoin here on the 4-Hour time frame is still playing out this active bearish Divergence that I've been warning about basically every day since all the way back here and once again a bearish Divergence usually plays out in the form of either choppy sideways price action if not a slight pullback as the most likely outcomes or most common outcomes from a bearish Divergence and so once again as I've been saying since all the way back here this is what I'm expecting in the short term either
choppy sideways price action or possibly a bit of a pullback simply based on these bearish Divergence still actively playing out and if we're staying on the 4-Hour Bitcoin chart of course over the last one day we've seen that break to the downside below this line of support for this ascending triangle pattern and so technically speaking the moment we confirm that break to the downside that did set up a bearish price Target which I mentioned in my last video and that bearish price Target is sitting at approximately 48. 9k and now obviously since that initial break to the downside we did actually see a quick Spike back to the upside just in the short term here before now continuing a little bit lower as I've recording this video and that quick Spike to the upside was mainly a result of a lot of liquidity sitting
very close to 53,000 around 52. 8k to 53k which is exactly what I talked about in recent videos here on the channel and so once again like I said over the last 1 to two days or so this area of liquidity to the upside is attracting the price of Bitcoin towards this area towards around 53k but of course once we take out that liquidity we don't really have a lot of liquidity further to the upside just beyond 53k which is why we saw a quick rejection back to the downside considering we now have these areas of liquidity to the downside and if we're taking a look at these lower areas of liquidity we have this area sitting in between around 50. 2k to 50. 6k which could be a possible Target in the short term but if we're zooming out to a larger time frame here on the Bitcoin
liquidation heat map we can see some other areas of liquidity showing up looking at the last 1 month worth of price action for example as we can see right here there's a lot of liquidity showing up at around 47,000 approximately first of all we have this level sitting at around 48. 2 to 48. 3k but just below that we have a major area of liquidity in between around 47. 3k to 47. 6k and so once again we first have this area of liquidity at around 505,000 but let's just say if we broke back below around 50k then the next Target simply based on the Bitcoin liquidation hit map would be this level at around 48. 2k which is still within this golden
pocket area of support once again in between 48k to 50K and so that's simply why we're seeing a bit of a short-term pullback once again we hit that upside area of liquidity exactly as expected with a quick Spike to the upside taking out all of that liquidity but now that we've already taken out that liquidity to the upside we're simply left with liquidity to the downside which once again attracts the price of Bitcoin towards those areas and so despite seeing that quick Spike to the upside to hit that upside area of liquidity after this break to the downside from this pattern technically this could still continue to play out right now with that technical price Target at around 48. 9k and once we see the new numbers from the Bitcoin ETFs and we can actually figure out how much new inflows are coming into the Bitcoin ETFs now
that the stock market is open again of course then we can figure out if we should be looking more bullish or more bearish based on the new inflows from the other ETFs but once again as of right now we do not yet have that information from those other spot Bitcoin ETFs so simply based on the charts alone simply in the short term here on the Bitcoin charts we are looking more bearish than bullish just in the short term and that's due to multiple factors for example this break to the downside also downside liquidity in the liquidation hit map also a bearish Divergence now playing out and a lot of bullish momentum here on the daily time frame but if we're zooming out to much larger time frames of course we're still very much bullish on the weekly chart for example still in a bull market we're just taking a bit of a short-term pause from that larger
bullish Trend and if you want to take trades just like this in the price of Bitcoin even if we're going to the downside you can profit from that price action using a short position for example and personally I take trades just like that over on bybit so I'll make sure to leave a link to bybit in the description down below and in the pinned comments and also what's happening on bybit right now is a massive giveaway basically if you're just trading over on bybit you can unlock these spins where you can basically spin right here for these prices and win potentially a whole Bitcoin and so once again if you're trading crypto anyway just by trading crypto you're getting these spins by for example trading on the derivatives Market or trading on the spot Market either way you can get some of these spins and so once again just by trading
over on buybit using the link down below this video it will take you to this page right here where you can register for this event if you want to where you can basically trade and win potentially up to a whole Bitcoin so if you're trading crypto anyway you might as well check it out once again a link Down Below in the description and in the pinned comments and just in case you might not be able to kyc on buybits because bit's not available in every country in the world of course in that case there's still that bit flex giveaway that's happening right now which I'll also leave a link to in the description down below and in the Pinn comments if you want to check this out if you're trading crypto anyway but anyway getting into the ethereum part of this video this is on the weekly e to us doll chart and like I said in my last video we've already confirmed the breakout above the golden pocket which
once again the golden pocket is sitting in between around 2530 to around 2. 7k and so that should now act as new short-term support for the price of eth in case we see a bit of a short-term pullback once again I would now expect support in between around 25,000 to 2. 7k and obviously here on the larger time frames just like Bitcoin on the weekly time frame we're still very much trending in the bullish Direction on the weekly time frame it's just in the immediate short term obviously we're taking a bit of a pause or a bit of a short-term cool off from all of that crazy bullish price action and this can be seen on The Daily time frame with a slight loss in bullish momentum as I talked about in recent videos here on the channel but with that being said of course we have not yet confirmed any new
bearish cross in the daily ethereum macd which means as of right now we have not confirmed a significant amount of new bearish momentum and instead once again we've just lost a bit of bullish momentum which is why the price is somewhat slowing down in the short term from all of that crazy bullish price action but with that being said overall in terms of the larger Trend and momentum we're still more bullish than bearish it's just in the immediate short term we're losing a bit of bullish momentum and this is also because of a new bearish Divergence here on the 8 Hour e to US dollar ch as I said in my last video we have higher highs already confirmed in the price in The 8 Hour candle closes and as of right now we have now confirmed a new lower high in place here in The 8 Hour ethereum RSI which technically confirms this bearish Divergence and as for shortterm support
to the downside we do have this area which we previously saw a perfect Bounce from and that's sitting in between around 2690 going up towards around 2720 and below that we have more support sitting at around 259 but like I said earlier obviously in terms of the trend we're still technically looking bullish because we have not yet broken the higher low higher high price structure it's just in the immediate shortterm once again potentially over the coming days we could see a bit of a break or setback from that bullish Trend but not necessarily the reversal or the complete end of the bullish Trend and so as of right now personally I still have my ethereum long position open which I entered all the way back down here and I already have my stop loss for that long position in massive profits and so like I've said recently on the channel and
I've basically been saying almost every day since all the way back down here I'm just simply keeping that long position open as the price continues further to the upside and as the price goes higher and higher I'm simply moving my stop loss further into profits and so with that strategy I'm basically maximizing my potential returns if the price just keeps pumping I continue to profit from that position but because I'm slowly moving my stop loss further into profits as the price pumps higher of course when we eventually see some sort of major pullback that will just hit my stop loss and exit me out of the trade automatically in massive profits and once again if you want to take trades just like that for yourself check out buybit or bitflex links down below if you want to get those extra bonuses or enter those major giveaways and if we're taking a quick look at the price of
salana on the 8 hour time frame obviously right now the price of salana has now completed the formation phase of this new head and shoulders pattern that I talked about around 2 days ago but technically this is not yet confirmed because we still need to confirm at least an 8-hour candle close but ideally a daily candle close below this Goen pocket so below around $15 in order to actually confirm the new head and shoulders pattern in place and the bearish price Target but if we now confirm this break to the downside below $15 to activate the head and shers pattern personally I'd be looking to potentially enter a short position to trade that move to the downside considering that would set up a bearish price Target which would be sitting at approximately $94 and that price Target is pretty much perfectly sitting at this previous
Fibonacci level which was also acting as significant supports back here so there's a lot of Confluence at around $94 to $95 and so once again personally that's a potential trade that I'm looking at in the shortterm a possible short position but as always that's not personal financial advice for you because I don't know your personal financial situation I'm just letting you know my personal trading strategy when it comes to these moves and if you want to actually know how to take these trades in the price of salana or any other crypto no matter if the price is going up down or just 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 shy ha can profit from bullish or bearish Price action using long positions or short positions and the Crypto Related in the bottom left shows
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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
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