welcome back to the crypto News Today everyone my name is Josh and right now while both Bitcoin and ethereum are still playing out the short-term bearish divergences we're seeing a new warning signal flash on the Bitcoin chart that we need to pay attention to while the price is getting drawn towards a significant area of liquidity so I'll be talking about all of that and more in just a moment so definitely stick around first of all just taking a quick look at the Bitcoin ETF news today and over the last one day on the 22nd of February we did indeed see another net inflow and this was actually a significant net inflow the biggest net inflow since what we've seen last week and so obviously this is a big difference to what we saw just the other day because once again on the 21st of February we saw around $ 35 to $36
million of net outflow out of the Bitcoin ETFs which was the first net outflow in almost a month but just yesterday on Thursday the 22nd we saw roughly around a quarter of a billion us around $250 million as a net n inflow coming into the Bitcoin ETFs just on Thursday and now that's not as strong as some of the numbers that we were seeing last week because once again just last week we were seeing numbers like four five or even $600 million each weekday as net inflows coming into the Bitcoin ETFs but with that being said even though we're not quite seeing the numbers that we saw last week of course just yesterday that was still a significant net inflow at much better than the day before which was obviously that net outflow and so if this continues if we continue to see more and more net inflows then obviously that's
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bullish for the price of Bitcoin but like I explained in my last video if we see more of a trender reversal in these inflows and we start actually seeing more outflows net outflows then obviously that would be bearish for the price of Bitcoin and so as always I'll make sure to keep you up to date on what's happening in the Bitcoin ETFs 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 but anyway getting into the Bitcoin charts today this is on the weekly time frame and right right now we're still trading above that golden pocket which is sitting in between around 48,000 to 50,000 which should now act as new support and once again as I've been saying this entire time since the beginning of 2023 I'm still extremely bullish on the price of
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Bitcoin on the larger time frames here on the weekly chart for example in terms of the larger trends at play and so despite what we're seeing on smaller time frames like the daily chart or anything smaller than that of course once again on the weekly chart or the 3-day chart if we're looking at the larger trend at play we're still clearly bullish and if we're taking a quick look at the 3-day Bitcoin chart once again we can still see that larger bullish Trend and obviously around 1 to two weeks ago we saw that significant volatile move pretty much straight to the upside exactly as expected but like I've been saying over the last one week I no longer expect that extreme volatility straight to the upside and instead right now we do to see a bit of a break or a bit of a pause from that extreme volatile move to the upside but with
that being said even though though the price is somewhat cooling off in the short term I do not necessarily expect a massive Trend reversal out of this bullish Trend because obviously during this bullish Trend we can see short-term pullbacks here and there or sideways consolidations before continuing higher later on which is basically what I'm expecting right now and one of the reasons as to why I've been expecting that short-term cool off which so far has been playing out exactly as expected is due to the fact that we're losing bullish momentum here in the daily Bitcoin macd and in fact what we are now seeing flash in the daily Bitcoin macd is a potential bearish cross but as of right now this has not yet been confirmed because at least for now we still need to at least confirm a daily candle close to cement this bearish
cross in place in the daily Bitcoin macd but if that confirms with a daily candle close confirming the bearish cross in the macd then that essentially means at least in the short term here we no longer really have any bullish momentum and instead we're potentially starting to pick up a little bit more bearish momentum and if we're taking a look at the last time we saw a bearish cross here in the daily Bitcoin macd that was right around the 11th to 12th of January and if we're looking at the Bitcoin price during that time period that was right here just before we saw a bit of a short-term pullback and so once again this is a potential warning signal to pay attention to in the daily Bitcoin macd but once again as of right now it has not yet been confirmed but even if we do confirm the bearish cross and if we do see a bit of a short-term pullback
once again that does not NE necessarily mean a bearish trend reversal out of this bullish Trend because obviously as you can see here bullish Trends can contain some bearish price action in the short term before the trend continues further later on and in fact it's actually healthy to see some sideways consolidations or short-term pullbacks along the way during a bullish Trend because that helps to reset the RSI back out of those overboard territories back down towards more neutral levels and if the RSI is looking more neutral then of course that gives us more room to the upside later on so if we see a bit more of a short-term cool off either a sideways consolidation or slight pullback then once again that can help to reset the RSI giving us more room to the upside later on and so that's basically the situation right now in the
short term we're still in this larger bullish Trend but we're experiencing a short-term cool off also caused by this bearish Divergence here on the 4-Hour time frame that I've been talking about every day since all the way back here and once again as I said all the way back here I do expect either choppy sideways press action if not a slight pullback in the short as the most likely outcomes from this bearish Divergence which so far have been playing out exactly as expected and basically while the 4 Hour Bitcoin RSI is still trending to the downside below this descending line of resistance as of right now this bearish Divergence is still intact it is still playing out and so for that reason once again I would not expect a significant amount of bullish momentum at least in the immediate short term and instead we're most likely going to
continue to see more of this type of price action especially over the coming weekend but perhaps next week if we're seeing a lot of new net inflows coming in through the Bitcoin ETFs then perhaps in that case we could end up seeing the continuation of that previous bullish Trend but once again at least for now especially over the weekend just talking about the shorter term I do expect more of this type of price action and as of right now the price of Bitcoin is still trading in this choppy sideways price range in between this level of resistance sitting at around 525,000 and this area of support sitting in between around 50. 5k to 51k and so in case you're new to this you can think of this area of support as where the buyers are sitting at and this area of resistance is where
the sellers are sitting at so basically if the price hits this level of resistance that's where a lot of people are selling Bitcoin right now whereas in this price range right here this area of support that's where a lot of people are currently buying Bitcoin right now and so at least in the short term while the price is still in between around 505,000 to 525,000 we're stilling looking relatively neutral while the price is still in this sideways price range but once we finally see a break below this support or above this resistance of course that is when we could flip much more bearish or much more bullish again because for example if we're breaking below support that essentially tells us that the buyers in this area have run out there's no more buyers left in this area if we're breaking below support and so that essentially means in the short
term the Bears are stronger than the Bulls if we break below support that's essentially what it means and so in that case I would expect a drop potentially down towards around 49k because as of right now that's still technically a bearish price Target on the chart at around 49k give or take and we also have this level of support based on previous resistance also sitting at around $50,000 so it's possible we could run into some buyers at around 50k but believe it or not even if the price is going to the downside you can still profit from these moves using short positions for example if the price is bearish or long positions if the price is bullish and personally I take trades just like that over on buybit so I'll make sure to leave a link to buybit in the description down below and in the
pin comment 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 buybit or if you cannot kyc on buybit 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 is an exclusive Apple Watch series 9 giveaway happening over on bitflex but only if you use the link down below this video it'll take you to this page right here 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 using those links down below this video If you want to get those extra bonuses or enter that giveaway but once again as
I said earlier while the price of Bitcoin is still holding above this area of support at least in the short term we're looking relatively neutral while the price is still in a choppy sideways price range and also believe it or not you can make a lot of easy profits from choppy sideways press action just like that and if you want to know how to do that then stick around to the end of this video to find out more and if we're taking a quick look at the Bitcoin liquidation heat map we can see that right now the price is getting attracted towards a significant area of liquidity at least in the short term which is sitting at roughly around 50 and half thousand and so basically I would not be surprised if we end up seeing the price of Bitcoin basically hit at least 505,000 to take out that area of liquidity and as for other levels of
liquidity we do have some upside liquidity right here at around 52. 2k but that's not as much as that area at around 50. 5k and if we zoom out on this Bitcoin liquidation heat map we can actually see a lot more liquidity to the downside if we hit that 50. 5k liquidity first as you can see we have more liquidity at around 48. 2k and a lot more at around 475,000 but once once again at least in the short term 50. 5k is the level to watch out for as that is where there's currently the most liquidity at least in the shortterm and if we're taking a look at the eth to US dollar chart on the weekly time frame just like Bitcoin on
the weekly chart we're still very bullish in terms of the trend here on the larger time frames and right now the price of eth is still holding above that golden pocket which is sitting in between around 2. 5k to 2. 7k approximately so right now while the price of eth is still above that area obviously with still very bullish on the larger time frames but if we're taking a look at the daily time frame as I've said over the last few days we're starting to lose some bullish momentum here in the daily ethereum macd but not as much compared to what Bitcoin has lost over the last few days or so but with that being said the price of e is still cooling off at least a little bit in the short term from this bullish Trend and especially because the RSI on
The Daily time frame is still currently overbought which means technically speaking we still need to see a bit more of a cool off in order to reset this RSI which can give us more room to the upside later on and so just like what I said for Bitcoin earlier in the video once again I do expect a bit of a short-term cool off basically a pause from that bullish Trend but not necessarily the reversal out of the bullish Trend into a bearish trend and if we're taking a look at the 8h hour time frame right now the price of eth is still playing out this bearish Divergence which is something that I've warned about over the last few days or so and so far over the last few days we have seen some choppy sideways press action with a very slight pullback from the local high at least as of right now and so once again this is right now
playing out exactly as expected so I do not currently expect a significant amount of bullish momentum at least in the short term but remember at least for now this is just the price of ether taking a bit of a pause from the bullish Trend before we could potentially continue that bullish Trend later on and if we're taking a look at the price of salana on the 8 hour time frame obviously we've continued that break to the downside from this bearish head and shoulders pattern below this golden pocket which by the way was sitting in between around $15 to $17 and as of right now we've currently made it roughly halfway between the point of the breakdown and the technical price target for The Head and Shoulders pattern which by the way that price Target is sitting very close to $94 just above $94 but as of right now at least
as recording this video the price of salana is currently bouncing and running into this level of support which is sitting at around $99 to $100 and so once again as I mentioned in my last video I did take a small amount of profits off the table at around $100 give or take and right now I have taken a little bit more profits off the table very close to $100 because we're currently running into that support and once again support levels are where the price is most likely going to bounce from but I still have the remainder of that short position open in case we continue lower towards the technical price Target obviously I will continue to profit if the price heads towards that price Target and so this is why it's important to subscribe to this Channel with notific ific turn on so that you don't miss out on any of these
trading opportunities that I share here on the channel because this short-term trading opportunity which is already in profit it's already a profitable trade I shared only a couple of days ago and also a few weeks ago I shared this ethereum trade from all the way back down here entering a long position and obviously anyone on the channel from back then just a couple of weeks ago obviously if you entered a long position anywhere near where I enter the long position which I shared here on the channel at that time obviously right now you're doing very very well in that ethereum long position just like this short position for salana but if you're new to the channel and you missed out on these trading opportunities do not worry there's always more opportunities to come and if that's the case get set up ready to go on one of these exchanges
using those links down below this video If you want to get those extra bonuses and get set up ready to take the next trade and if you want to actually know how to trade these moves in the price of any crypto 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 from 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's 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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