BITCOIN JUST MADE HISTORY (Get Ready)!! Bitcoin News Today & Ethereum Price Prediction!
TLDRIn this video, Josh discusses the recent surge in Bitcoin's price, highlighting the largest green weekly candle in its history and the potential for further growth driven by Bitcoin ETFs. He also examines Ethereum's bullish trend and the possibility of a major breakout, as well as the performance of other altcoins. Josh emphasizes the importance of technical indicators and market sentiment, suggesting that despite some overbought conditions, the overall trend remains bullish. He also shares trading opportunities and provides insights on how to capitalize on various market movements.
Takeaways
- 📈 Bitcoin is approaching an all-time high, marking the largest green weekly candle in its price history.
- 🚀 The power of Bitcoin ETFs is highlighted as a significant factor in Bitcoin's recent price surge.
- 🔄 Bitcoin ETFs are expected to resume trading, potentially leading to more inflows and price increases.
- 📊 A weekly candle close above a previous Fibonacci level suggests new support around $57,000-$58,000.
- 🌐 Bitcoin has already set new all-time highs against several fiat currencies, with the USD all-time high within reach.
- 📊 The last weekly gain for Bitcoin was 22%, indicating a strong bullish trend.
- 🔮 Tether's recent printing of 1 billion USDT is seen as a bullish signal for Bitcoin and the overall crypto market.
- 📊 The daily Bitcoin chart shows a bullish trend with higher lows and highs, and a positive MACD.
- 📉 A potential bearish divergence is forming on the 8-hour Bitcoin chart, but it is not yet confirmed.
- 🔄 Ethereum is on the verge of a major breakout, testing critical resistance levels.
- 🎯 Cardano has broken out to the upside, following a bullish pattern, with a price target around 87 cents.
Q & A
What is the significance of the largest green weekly candle in Bitcoin's price history?
-The largest green weekly candle in Bitcoin's price history signifies a strong bullish trend, with the dollar gain being the highest ever recorded in a single week. This indicates the power of Bitcoin and the influence of Bitcoin ETFs, which are accumulating a lot of Bitcoin and potentially pushing the price higher.
What does the confirmation of the largest weekly candle green mean for Bitcoin's price?
-The confirmation of the largest weekly candle green suggests that Bitcoin's price could continue to rise, especially if the inflows into Bitcoin ETFs persist. It also technically turns the previous Fibonacci level into new support in case of a pullback.
How does the performance of Bitcoin ETFs impact the price of Bitcoin?
-The performance of Bitcoin ETFs can significantly impact Bitcoin's price. When these ETFs experience large inflows, they buy more Bitcoin, which can drive the price up. The trading of Bitcoin ETFs on the US Stock Market can lead to more inflows, potentially pushing the price higher.
What is the current status of Bitcoin's price in relation to its all-time high?
-At the time of the video, Bitcoin's price is very close to its all-time high against the US dollar, with only a 5 to 6% move needed to reach the record high. Bitcoin has already surpassed its previous all-time high against other fiat currencies like the Australian dollar, Japanese Yen, and Euro.
What is the role of Tether (USDT) printing in the cryptocurrency market?
-Tether printing, which is the issuance of more USDT, often leads to bullish price action for Bitcoin and the overall crypto market. This is because the newly printed USDT can be used to purchase Bitcoin, increasing demand and potentially driving up the price.
What is the current trend of Bitcoin's daily chart?
-The daily chart of Bitcoin shows a clear bullish trend, with higher lows and higher highs being formed. The daily Bitcoin MACD is also indicating bullish momentum, suggesting that the trend is likely to continue.
What could potentially cause a short-term pullback in Bitcoin's price?
-A short-term pullback could be caused by a significant inflow into the Bitcoin ETFs, which can lead to an overbought RSI on the daily time frame. However, such pullbacks are typically short-lived and do not necessarily change the overall bullish direction.
What is the potential resistance level for Ethereum's price on the weekly chart?
-The potential resistance level for Ethereum's price on the weekly chart is around $3,500, which is the top side of the area of resistance tested in previous weekly candle closes.
What would be the next significant resistance for Ethereum if it breaks above the current resistance?
-If Ethereum breaks above the current resistance, the next significant resistance level would be its all-time high, which is around $4,800 to $4,900.
What is the significance of the breakout above $63,000 for Bitcoin's short-term trend?
-A breakout above $63,000 is a bullish short-term signal for Bitcoin, indicating that the larger bullish trend is continuing. This breakout confirms that the price is likely to move higher in the short term.
What trading opportunities are mentioned in the video for other cryptocurrencies besides Bitcoin and Ethereum?
-The video mentions a trading opportunity for Cardano, which has broken out of a bullish pattern and is expected to continue its upward movement. The breakout target for Cardano is around $0.87, and the video also mentions a 220% profit potential for a leveraged long position within a few days.
Outlines
📈 Bitcoin's Record-Breaking Week and ETF Impact
This paragraph discusses the recent surge in Bitcoin's price, marking the largest green weekly candle in its history in dollar terms. The speaker, Josh, highlights the significance of this event and attributes it to the power of Bitcoin ETFs, which are accumulating a lot of Bitcoin. He mentions that the Bitcoin ETFs are expected to resume trading, potentially leading to more inflows and further price increases. The paragraph also touches on the technical analysis of Bitcoin, noting the support level around 57-58,000 and the bullish momentum on the daily chart.
📊 Analyzing Bitcoin's Daily and 8-Hour Charts
The second paragraph delves into the technical analysis of Bitcoin's daily and 8-hour charts. It mentions the potential for a bearish divergence on the 8-hour chart, which is not yet confirmed. The speaker emphasizes that large inflows, such as those from Black Rock, can override technical indicators and drive the price up. The paragraph also discusses the impact of Bitcoin ETFs on the market and the potential for a short-term break in the bullish trend, as well as the importance of the 8-hour RSI and price action in confirming any potential divergence.
🚀 Ethereum's Upcoming Breakout and Market Trends
This paragraph focuses on Ethereum's price movement and its potential for a major breakout. The speaker notes that Ethereum is testing critical resistance levels and could soon break above 3.5k, which would turn the resistance into support and open the path to the all-time high. The paragraph also discusses the general bullish trend in the crypto market, driven by Bitcoin's performance and the potential for Bitcoin holders to invest in altcoins, which can also benefit the overall market.
🌟 Trading Opportunities and Market Analysis
The final paragraph provides an overview of trading opportunities in the crypto market, emphasizing that profits can be made regardless of market conditions. The speaker mentions specific trading opportunities for Bitcoin, Ethereum, Solana, and Cardano, and discusses the importance of staying informed about market trends. He also encourages viewers to subscribe to the channel for trading insights and provides links to trading platforms with exclusive bonuses and giveaways.
Mindmap
Keywords
💡Bitcoin
💡All-time high
💡Weekly candle
💡Fibonacci level
💡Bullish
💡RSI (Relative Strength Index)
💡Bearish Divergence
💡Tether (USDT)
💡Ethereum
💡Altcoins
💡Trading
Highlights
Bitcoin is approaching an all-time high after confirming the largest green weekly candle in its price history.
The weekly candle close confirmed a dollar gain, not a percent gain, making it the largest in Bitcoin's history.
Bitcoin ETFs are rapidly accumulating Bitcoin, potentially influencing its price positively.
A potential new support level for Bitcoin is around 57 to 58 thousand dollars.
Bitcoin has already broken into new all-time highs against other fiat currencies like the Australian dollar, Japanese Yen, and Euro.
A 5 to 6% move to the upside could push Bitcoin to its all-time high against the US dollar.
The last weekly candle showed a 22% gain in a single week.
Tether printing more USDT is typically bullish for Bitcoin and the overall crypto market.
The daily Bitcoin chart shows a bullish trend with higher lows and higher highs.
The 8-hour Bitcoin chart may be forming a bearish divergence, but it is not yet confirmed.
A significant inflow into Bitcoin ETFs could continue to push Bitcoin's price higher, despite overbought RSI.
Ethereum is on the edge of a major breakout and could see a significant increase in its price.
A breakout above 35,000 for Ethereum would confirm a new support level and open the path to its all-time high.
The daily Ethereum MACD indicates strong bullish momentum.
Salana's price is testing an important resistance area between $120 to $140.
A breakout above $140 for Salana could target the previous all-time high around $250 to $260.
Cardano's price is continuing to break out further to the upside, following a bullish pattern.
A confirmed breakout for Cardano above a certain resistance line could lead to a significant price increase.
The speaker emphasizes the importance of subscribing to the channel for trading opportunities and market insights.
