00:00 welcome back to the critical Channel
00:01 everyone my name is Josh and right now
00:03 ethereum is bouncing from an important
00:05 price level on the chart while Bitcoin
00:08 is forming a new pattern in the short
00:10 term that we need to pay attention to so
00:12 I’ll be talking about that in just a
00:14 moment definitely stick around
00:17 first of all just to give you a quick
00:19 update here on the daily Bitcoin chart
00:21 and right now as I’ve recorded in this
00:23 video this bearish Divergence on The
00:25 Daily time frame is still currently
00:27 playing out and of course while this is
00:29 happening the Bitcoin price is still
00:31 running into this major area of
00:34 resistance which is sitting in between
00:36 around 28 000 to 29.5 K and so once
00:41 again as I’ve been saying pretty much
00:42 every day over the last one week or so I
00:46 would not be expecting any significant
00:48 bullish momentum anytime soon as in just
00:51 in the short term here and instead I
00:53 would mostly be expecting choppy
00:56 sideways price action in the shorter
00:58 term as I’ve been saying over the last
01:00 one week or so and as we’ve been seeing
01:02 as expected and now staying on the daily
01:05 time frame but taking a look at the
01:07 Bollinger Bands indicator which is still
01:09 in its squeeze formation because
01:11 obviously as I explained in more detail
01:13 in my last one to two videos here on the
01:16 channel if you look at the history
01:17 Oracle volatility indicator this is
01:20 telling us that right now we are seeing
01:22 the lowest amount of volatility in the
01:25 Bitcoin price on The Daily time frame
01:26 that we have seen since the beginning of
01:29 this year and so this basically tells us
01:31 a massive move is coming soon as in
01:34 potentially within the next one week or
01:37 so we’re likely going to see a large
01:40 volatile move in the price of Bitcoin
01:42 and if you want to know more about that
01:44 and more about this chart right here
01:46 then check out my last one to two videos
01:49 here on the channel because in those
01:51 videos I went into more detail about
01:53 this chart right here but anyway now
01:55 zooming into the shorter term this is on
01:57 the four hour Bitcoin to US dollar chart
01:59 and right now as you can see here in
02:02 between this consolidation range in this
02:04 sideways range we are currently forming
02:07 a small symmetrical triangle pattern and
02:10 right now the support for this
02:12 symmetrical triangle pattern is sitting
02:14 at around
02:15 27.8 to 27 point 9k approximately and
02:19 the resistance is sitting at around
02:22 28.4 to 28.5 K approximately and
02:26 obviously if we see a confirmed break
02:28 below that support level then that would
02:30 be short-term bearish setting up a
02:33 bearish price Target and if we see a
02:35 confirmed break Above This resistance
02:37 then that would be a short-term bullish
02:39 signal setting up a bullish price Target
02:41 and as for those technical price targets
02:44 just measuring out that move if we see a
02:47 confirmed break below that support then
02:49 the technical price Target would be
02:50 sitting at around 26.8 to 26.9 K falling
02:55 straight into this area of supports
02:57 based on these previous lows but on the
03:00 flip side if we see a confirmed break
03:02 above that line of resistance for the
03:04 symmetrical triangle pattern then that
03:06 would set up a technical price Target at
03:08 around
03:09 29.5 K and now obviously it is important
03:13 to keep in mind that even if we see a
03:15 breakout to the upside from this cement
03:17 magical triangle pattern we still have
03:19 this area of resistance which means if
03:22 we break out in the bullish Direction
03:23 the price could still struggle in this
03:26 area of resistance before actually
03:28 reaching this technical price targets
03:30 and of course even if the Bitcoin price
03:32 reaches this price targets at 29.5 K
03:36 once again that is simply the high end
03:38 of this range of resistance here on the
03:41 daily time frame so basically in order
03:43 to see another significant lay to the
03:45 upside here on the daily chart like this
03:48 for example we need to see a confirmed
03:50 breakout well above 29.5 K and of course
03:54 if that happens if we see a confirmed
03:56 breakout above 29.5 K that could spark
03:59 the next volatile move in the price of
04:01 Bitcoin which the Bollinger Bands is
04:03 predicting anyway we just don’t know the
04:06 direction of that volatile move based on
04:08 the Bollinger Bands alone but we can
04:10 confirm the direction of the next
04:12 volatile move once the Bitcoin price
04:14 finally breaks out above resistance or
04:18 if we break support obviously that could
04:21 also lead it to a volatile move to the
04:23 downside if we see those signals so
04:26 essentially right now just in the
04:28 imminent short term the price is still
04:29 looking extremely neutral and we’re just
04:32 waiting for one of these signals to
04:34 occur a break of one of these price
04:37 levels once again would give us the
04:39 signal to flip either more bullish or
04:41 more bearish depending on which one of
04:44 these levels breaks and obviously if
04:46 you’re a Trader using long positions or
04:48 short positions obviously it doesn’t
04:50 actually matter what direction the price
04:52 moves because you can make money no
04:54 matter what direction the price takes
04:56 whether we’re flipping bullish or
04:58 bearish you can still make money on
05:00 these moves and if you want to know how
05:02 to do that then stick around to the end
05:04 of this video to find out more but
05:06 anyway now getting into the ethereum
05:08 part of this video this right here is on
05:10 the daily time frame and right now the
05:12 price of eth has retested this previous
05:15 area of resistance which is now acting
05:18 as new support and this area is sitting
05:21 in between around 1770 to 1820 and so
05:25 obviously at least as of right now the
05:28 trend here on the daily time frame is
05:30 still a bullish Trend we’re still
05:31 forming higher lows and higher highs and
05:34 more importantly we’re flipping previous
05:36 resistance into new support which is a
05:39 bullish thing this is a sign of a
05:41 bullish Trend and as for the next
05:43 significant resistance on The Daily time
05:46 frame that is sitting closer towards
05:48 around two thousand dollars and now if
05:51 you’re zooming into the shorter term
05:52 this is on the four hour eat to US
05:54 dollar chart and right here as of right
05:57 now the price of eth is defending this
06:00 line of support defending the short-term
06:02 bullish Trend because like I said in my
06:04 last video on this channel the price of
06:06 eth was at a pivotal moment either about
06:09 to break the short-term bullish Trend or
06:13 if we simply hold this level and see yet
06:15 another bounce in the RSI and price
06:17 action like what we’ve seen these last
06:20 two times then of course in that case
06:22 that would sustain the short-term
06:24 bullish Trend at least for a little
06:26 while longer and so at least as of right
06:29 now considering we did end up seeing
06:31 that bounce the price of eth is still in
06:33 a short-term bullish Trend so once again
06:36 just in the short term I’m still
06:38 currently more bullish than bearish but
06:40 if we see a confirmed break back below
06:43 this price area so back below around
06:45 1830 approximately then in that case I
06:49 would flip a little bit more bearish
06:51 again just in the short term for the
06:53 price of eth but it is important to
06:55 understand the difference between
06:56 short-term and longer term because even
07:00 in that case if we break back below
07:01 around 1820 and come back down towards
07:04 around 1780 for example then of course
07:07 we would look more bearish in the
07:09 shorter term but on the daily time frame
07:11 that move would look like this which
07:13 obviously would not actually break or
07:15 invalidate the large bullish trend on
07:19 The Daily time frame and now if you want
07:21 to know how to maximize your profits in
07:22 crypto no matter if the price is going
07:24 to the upside to the downside or simply
07:27 chopping around sideways then make sure
07:29 to watch these videos popping up right
07:31 here on your screen the video in the top
07:33 left of your screen shows you how to
07:35 make money if the price is either
07:36 bullish or bearish answer the video in
07:39 the bottom left shows you how to make
07:40 money if the price is just chopping
07:42 around sideways but anyway that’s
07:44 everything that I have to say for today
07:45 I really hope you enjoyed and I’ll see
07:47 you all in the next video
This Pattern Will BREAK SOON (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction (BTC, ETH)
Welcome back to the Crypto World! In this video I reveal my next Ethereum Price Prediction and Bitcoin Price Prediction! Make sure to watch the WHOLE video so you DON’T MISS OUT on this IMPORTANT information & leave a LIKE and SUBSCRIBE for more videos like this!
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