welcome back to the cryto News everyone my name is Josh and right now there's only two days to go before Bitcoin potentially confirms this breakout above this final significant area of resistance while ethereum is also attempting a major breakout above significant resistance but in the short term Bitcoin is still flashing a new signal resulting currently in sideways price action while the liquidation heat map is revealing new price targets so I'll be talking about all of that and more later in the video so definitely watch to the end first of all taking a quick look at the Bitcoin ETF news today because over the last one day Black Rock bought another approximately 6,400 Bitcoin worth well over $300 million and so right now black rock is currently holding nearly
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$6,000 Bitcoin as we can see here on black Rock's own website once again they're holding around 11 15,980 Bitcoin worth over6 billion in their spot Bitcoin ETF in their ey shares bit Bitcoin trust and so once again as I've explained over and over again here on the channel of course with black rock buying such a significant amount of Bitcoin every single weekday literally hundreds of millions of dollars being bought by Black Rock worth of bitcoin every single weekday obviously this is helping push the price of Bitcoin further to the upside and sustain it at these much higher levels considering they're buying so much every single weekday and now just yesterday gray scale did sell some more Bitcoin a little bit more than what they've usually been selling over the last one week or so but with that being said it's
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still less than the amount that black rock bought and remember black Rock's only one of 11 spot Bitcoin ETFs of course they are the fastest growing spot Bitcoin ETF but they're just one of 11 so if we're looking at all of the spot Bitcoin ETFs we can see that just yesterday just on the 15th of February we saw nearly half a billion dollars worth of inflows this is net inflows so this is $77 million of new money coming into Bitcoin because this is also factoring in those outflows from grayscale so once again nearly half a billion dollars of you money buying up Bitcoin just yesterday just in one single day and so once again with these spot Bitcoin ETFs buying such a significant amount of Bitcoin every single weekday this is big news for Bitcoin and very bullish for Bitcoin moving forward and so basically Our Only
Hope of seeing a significant pullback in the price of Bitcoin is if all of that buying pressure suddenly stops from the ETFs if we stop seeing these crazy inflows or perhaps over a weekend when the US Stock Market is closed and the Bitcoin ETFs are not trading possibly we could see some sort of pullback or something like that on a weekend when the stock market is closed but other than that on a weekday when we're seeing the spot Bitcoin ETFs trading and if we're still seeing this significant amount of inflows coming into Bitcoin on weekdays obviously it's hard to expect any significant pullback if we're seeing this much buying pressure because remember in order to see a pullback we need more people selling Bitcoin than what's actually coming into Bitcoin so there needs to to be more people holding enough Bitcoin actually selling more
than this amount every single weekday just in order to see any sort of pullback and so just for example if a massive Bitcoin whale has half a billion dollars worth of bitcoin $500 million worth of bitcoin and they dump that on the market that basically does nothing because we're seeing that much buying pressure coming into Bitcoin every weekday and so despite what the price charts are looking like of course moving forward it's important to understand that right now there's a lot of buying pressure coming into Bitcoin every single weekday due to these ETFs so we need to factor this information in considering it's a lot of buying pressure and definitely something significant to pay attention to but anyway taking a look at the Bitcoin chart looking at the weekly Bitcoin chart and right now we are getting
extremely close to potentially confirming the breakout above the golden pocket which by the way is sitting in between around 48,000 to 50,000 and now obviously for the last few days we've already been trading above 50,000 but with that being said in order to confirm this breakout on the weekly time frame we need to confirm a weekly candle close above 50,000 to confirm this breakout and the next weekly candle close is in a little over 2 days from now so once we see that Weekly candle close confirm if it's above 50k once again that will confirm the breakout and in that case we do have a small amount of resistance right here sitting at around 57 to 58,000 but that's not as significant as the golden pocket and so essentially as I've also been saying recently on the channel if we confirm this breakout with a we L candle close above 50k we're
likely going to see a pretty quick move up towards the all-time high in the coming weeks or months and so despite what smaller time frames are looking like if we're zooming out to the larger time frames like this weekly Bitcoin chart of course right now we're looking extremely bullish clearly in a larger bullish Trend also known as a bull market and if we're taking a look at the 3-day Bitcoin chart obviously this volatile move to the upside is still playing out exactly as expected and if you want to know more about this chart right here then watch my last few videos here on the channel because I've covered it in more detail in previous videos here on the channel and so getting straight into the daily Bitcoin chart and right now we're still seeing a lot of bullish momentum here in the daily Bitcoin macd and so even though the
daily Bitcoin RSI is currently overbought meaning the price is essentially getting a little overheated right now so we've gone too far to the upside too quick and we need some time to cool off but even though that signal is flashing right now in the daily Bitcoin RSI once again due to the extreme bullish momentum and also that massive buying pressure coming in from the Bitcoin ETFs obviously this is just pushing the Bitcoin price Higher and Higher and it's important to understand that also if the RSI is overbought that does not necessarily mean we're definitely at the top and we're about to see a massive crash because for example if we're looking back near the end of October we saw a major move quickly to the upside a major breakout above significant resistance and then the RSI on The Daily time frame entered well
into overboard territories and what happened next was a bit of a Slowdown from that extreme bullish price action but ultimately we will still trending in the bullish Direction and so we could potentially see something similar moving forward where sometime soon possibly over the weekend or going into next week we could start slowing down from that extreme volatile bullish price action but once again the overall trend and momentum in the market is still more bullish than bearish and if we're zooming into the shorter term looking at the 4-Hour Bitcoin chart obviously as I mentioned in my last video we have this short-term bearish Divergence with higher highs in the price and lower highs in the RSI and over the last one day this has been playing out in the form of a sideways consolidation which is one of the most common outcomes from
a bearish Divergence this usually plays out in the form of either choppy sideways price action if not a slight pullback as the most common out comes from a bearish Divergence but once again if we're seeing a lot of buying pressure from those ETFs because it's a week day and the stock market is open of course we could potentially see more bullish price action if we're still seeing a lot of inflows coming in through those ETFs but perhaps on the weekend when the stock markets closed and we don't have all of that extra buying pressure on the weekend we could see more of these short-term signals and patterns actually play out on the chart and if you want to trade those Moves In The Press Bitcoin or any other crypto 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
pined comment and if you use that link down below this video to make a bit account you can get up to a $30,000 deposit bonus if you deposit on that account but only if you use that link down below this video but for whatever reason if you can not access bybit or if you cannot kyc on bybit there is also bitflex which is another crypto exchange similar to bybit 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 deposit a $100 worth of crypto and to make one trade on the derivatives Market over at bitflex that will enter you 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 using those links down below
this video If you want to get those extra bonuses and if we're taking a quick look at the Bitcoin liquidation heat map right now we have a decent area of liquidity sitting at around 51. 1k to 51. 3k and we also have more short-term liquidity sitting at around 52. 9k going up towards around 53. 2k and so once again if we do end up seeing that shortterm bearish Divergence actually play out perhaps over the next one day or more likely possibly on the weekend when those ETFs and not trading then we could possibly see the price hit some of these lower levels of liquidity like around 51. 2 k for example but other than that if this bullish Trend
continues as it has been doing if we're seeing a lot of inflows from those ETFs of course we could hit that upperside area of liquidity as a slightly more likely scenario especially on a weekday once again sitting at around 53,000 and if we're taking a look at the eth to us doll chart on the weekly time frame right now we're also seeing a major breakout Above This golden pocket for the price of eth which is sitting in between around 2530 going up towards around 2680 approximately and now obviously as of right now the price of e is already trading above 2. 7k but we still need to see at least a weekly candle close confirm ideally above 2. 7k in order to actually confirm this breakout and once again just like Bitcoin the next weekly candle close
confirms in around 2 days from now so potentially in 2 days from now if the price is still trading above 2. 7k we could conf firm this breakout above the golden pocket and in that case our next level of resistance to pay attention to on the weekly time frame is sitting in between around 3. 4k to 3. 5k based on this Fibonacci level and this previous high sitting at around 3. 4 to 3. 5k and also anytime where we break out above significant resistance generally speaking that previous resistance becomes new support in case we see any sort of pullback and if we're taking a look at the daily time frame once again just like Bitcoin and also as I've been
saying every single day over the last two weeks or so since all the way back down here right now we're still seeing a lot of bullish momentum here in the daily ethereum macd which is pushing the price Higher and Higher and now once again as I've said recently of course the daily ethereum RSI is currently sitting in overboard territories which technically means at the moment in the somewhat shorter term here we're a little bit overheated meaning the price has gone too far to the upside too quickly but once again if we're looking at some of these previous examples with the RSI and into overbought territories on The Daily time frame some of these previous examples the price still continued a little higher later on even when the RSI was at around overboard territories and if we're zooming into the 8 hour time frame right now the
price is still breaking out further Above This previous area of resistance which is sitting in between around 2690 going up towards around 2720 so that area right there should now act as new support in case we end up seeing any sort of short-term pullback and as for other potential price targets to the upside if we're looking at the Fibonacci retracement Tour on the lyia settings from swing low to swing high on the 8 hour time frame that places the 1618 Fibonacci extension at around 3050 or 3,050 and so at least in the shorter term that could possibly be the next important resistance to pay attention to before looking at some of these larger levels here on the weekly time frame and once again considering the price of eth is still currently looking bullish especially in terms of the trend and momentum as of right now I'm still
holding my eum long position longing this move to the upside as I've been talking about basically every day here on the channel since all the way back down here and as of right now just updating you on my trade I'm still moving my stop loss further into profits as the price continues further into profits and so that way I'm basically maximizing my upside potential with the price just pumping higher and higher of course I'm continuing to make more and more profits and as I'm moving my stop loss further into profits that's basically securing more and more profits so that eventually when we see some sort of major a pullback of course 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 to maximize your profits in crypto make sure to
check out buybit or bitflex links down below if you want to get those extra bonuses and this is also why it's important to stay subscribed to this Channel with notifications turned on so that you don't miss out on any of these important update videos where I'm actually sharing my trades as soon as I enter my trades and if we're taking a look at the price of salana on the 8 hour time frame once again and as I've been saying here on the channel I've been longing this move to the upside as soon as we saw this breakout I shared my long position and right now my stop loss for this trade is already sitting in slight profits which means in the worst case scenario if we just crash right now that would trigger my stop loss and exit me out of the trade automatically in some slight profits and once again if you want to take trades just like that
to maximize your profits in crypto personally I take those trades over on buybit link down below if you want to get those extra bonuses and as for these support and resistance levels of course these have not really changed over the last one day so if you want to know more about those then check out my last video here on the channel and if you want to actually know how you can take these trades in the price of salana or any other crypto no matter if the price is going to the upside to the downside or simply chopping around sideways you can make profits 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 he can open and close long positions and short positions to make money if the price is bullish or bearish and the Crypto Related in the bottom left shows he 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
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