BITCOIN WARNING SIGNAL FLASHING (My Strategy)!!! Bitcoin News Today & Ethereum Price Prediction!

Summary

In this crypto market analysis, host Josh discusses Bitcoin's current resistance struggles and potential short-term trading opportunities, highlighting a bearish divergence on the 4-hour chart. He remains bullish on larger time frames, suggesting a possible move to new highs if resistance at 68,000 is broken. Ethereum's analysis includes a bearish divergence warning and the importance of breaking above 3350 for a bullish reversal. Josh also covers trading strategies, including adding to long positions on pullbacks, and promotes an exchange with deposit bonuses for crypto trading.

Takeaways

• 📈 **Bitcoin Bullish Trend**: Bitcoin is still in a larger bullish trend on the 3-day and weekly charts, with a hidden bullish divergence suggesting continuation of the trend in the coming months.
• 🔍 **Short-Term Warning Signals**: Both Bitcoin and Ethereum are showing new warning signals in the short term, indicating potential trading opportunities.
• 🚧 **Resistance Levels**: Bitcoin has encountered significant resistance between 67,000 and 68,000, which may lead to a short-term pullback or consolidation.
• 📉 **Bearish Divergence**: A bearish divergence on the 4-hour chart for Bitcoin suggests potential choppy price action or a short-term pullback in the coming days.
• 🤑 **Trading Opportunities**: The speaker has entered a long position around local lows near 59,000 to 60,000 and may consider adding to the position if certain conditions are met, such as a bounce around support levels or oversold RSI signals.
• ⏳ **Time Frame Differences**: It's important to understand that bullish trends on larger time frames can coexist with short-term bearish price actions.
• 🔗 **ETH Support Level**: Ethereum is holding above a critical Fibonacci support level of approximately 2870, which is part of a larger bullish trend on the weekly time frame.
• 🔄 **Sideways Trading**: The speaker discusses making profits in choppy sideways price action, suggesting strategies for trading in such conditions.
• 📌 **Key Resistance for ETH**: For Ethereum to flip to a bullish direction on the daily chart, a confirmed breakout above 3350 is necessary.
• 💡 **RSI Indicators**: The daily Bitcoin RSI has started a bullish reversal, breaking above critical resistance, which has historically marked the beginning of major moves to the upside.
• 🔄 **Solanana Retest**: Solana has broken out and is retesting resistance at 167 to 172, with a failure to hold above this level potentially leading to a drop to 160.

Q & A

What is the current trend of Bitcoin on the larger time frames according to the video?

The video states that Bitcoin is still technically in a larger bullish trend, also known as a bull market, on larger time frames such as the 3-day chart or the weekly chart, as it has not yet invalidated the higher low higher high price structure.

What does the hidden bullish divergence indicate for Bitcoin's future trend?

The hidden bullish divergence is a trend continuation pattern that suggests the larger bullish trend is likely to continue over the coming months.

What is the significance of the DXY and its relation to Bitcoin's short-term trends?

The DXY has been pulling back over the last couple of weeks, which has been a bullish reversal signal for Bitcoin in terms of shorter term trends. The video suggests that changes in the DXY can influence Bitcoin's price movements.

What does the daily Bitcoin RSI suggest about the immediate future of Bitcoin's price?

The daily Bitcoin RSI has started a bullish reversal, breaking out above critical resistance and forming higher lows and higher highs, which has historically indicated the beginning stages of the next major move to the upside in Bitcoin's price.

What is the current resistance area for Bitcoin that the video discusses?

The video discusses a significant area of resistance for Bitcoin sitting between $67,000 to $68,000, where the price is expected to struggle and possibly experience sideways consolidation or a short-term pullback.

What is the condition for validating the breakout to the upside from the falling wedge pattern for Bitcoin?

To validate the breakout to the upside from the falling wedge pattern, the price of Bitcoin would have to break back below the breakout point, which is around $62,000 to $63,000.

What is the potential next major area of resistance for Bitcoin if it confirms a breakout above $68,000?

If Bitcoin confirms a breakout above $68,000, the next major area of resistance to the upside could be between $72,000 to $74,000.

What is the bearish divergence on the 4-Hour time frame indicating for Bitcoin's short-term price action?

The bearish divergence on the 4-Hour time frame suggests that there might be choppy sideways price action or a short-term pullback in the price of Bitcoin in the next couple of days.

What trading opportunity does the speaker see for Bitcoin's short-term pullback?

The speaker sees a potential trading opportunity to add to a long position if there is a continued pullback, with possible entry points around previous lows or if the 4-Hour Bitcoin RSI enters oversold territories.

What is the speaker's strategy for the long position in Bitcoin?

The speaker's strategy for the long position in Bitcoin is to use it as a swing trade, aiming to capture the larger move to the upside. They may take some profits at resistance levels and add to the position during short-term pullbacks, as they remain bullish on the larger trend.

What is the current situation of Ethereum's price trend on the weekly time frame?

On the weekly time frame, Ethereum's price is holding above a critical Fibonacci level of support around $2870 and is within a shorter term bearish trend within a larger bullish trend.

What conditions need to be met for Ethereum to flip into a bullish direction on the daily chart?

For Ethereum to flip into a bullish direction on the daily chart, a confirmed breakout above the previous high and resistance level is needed, which is currently sitting around $3350.

What is the potential trading opportunity in choppy sideways price action according to the video?

The video suggests that even in choppy sideways price action, there are opportunities to make profits, and viewers are encouraged to watch until the end of the video to find out more about how to capitalize on such market conditions.

What does the bearish divergence on the 4-Hour time frame for Ethereum indicate?

The bearish divergence on the 4-Hour time frame for Ethereum indicates reduced bullish momentum in the short term, which could result in choppy sideways price action or a pullback.

What is the significance of the breakout and retest of resistance for Solana's price?

The breakout and retest of resistance for Solana's price is significant because if the price holds above the area of resistance turned support (between $167 to $172), it confirms the breakout. However, if the price closes below $167 on the 12-hour chart, it could signal a bearish trend and a potential drop to around $160.

What is the potential upside target for Solana if the breakout from the inverse Head and Shoulders pattern holds?

If the breakout from the inverse Head and Shoulders pattern holds, the active price target to the upside for Solana is around $29, which represents a potential move of around 23% from the time the video was recorded.

What are the additional resistance levels for Solana's price above the current price?

The additional resistance levels for Solana's price above the current price are around $183 and just above $200.

Why are short-term pullbacks considered healthy for the bullish trend in the context of the video?

Short-term pullbacks are considered healthy for the bullish trend because they help to reset price oscillators like the RSI, providing more room for the price to move upwards later on.

Outlines

00:00

📈 Bitcoin's Short-Term Warning Signals Amid Bullish Trend

Josh begins the video by discussing Bitcoin's current market situation, noting that despite a larger bullish trend, or 'bull market', on longer time frames like the 3-day and weekly charts, short-term bearish signals are emerging. On the 3-day chart, Bitcoin has not invalidated the higher low and higher high price structure, indicating a continuation of the bullish trend. A hidden bullish divergence suggests the trend will likely continue over the coming months. However, Josh emphasizes the importance of understanding different time frames, as short-term bearish price action can occur within a larger bullish trend. The daily Bitcoin chart shows a bullish reversal signal due to the DXY's pullback, which is positive for Bitcoin's short-term trends. The daily Bitcoin RSI has also started a bullish reversal, breaking above critical resistance and forming higher lows and highs, which typically precedes a major move to the upside. Despite this, the price has encountered significant resistance between 67,000 and 68,000, where it is expected to struggle and potentially experience a short-term pullback or rejection. Josh also discusses the importance of confirming a breakout above 68,000 to validate the continuation of the bullish trend, with a potential move towards the all-time high area of 72,000 to 74,000. On the 4-hour chart, a bearish divergence is playing out, suggesting choppy price action or a short-term pullback in the coming days.

05:01

🚀 Trading Opportunities and Ethereum's Market Analysis

The second paragraph focuses on potential trading opportunities amidst short-term pullbacks and a detailed analysis of Ethereum's market situation. Josh has entered a long position around previous local lows near 59,000 to 60,000 and has taken some profits while keeping the position open. He considers adding to this long position if there's a continued pullback, using short-term bullish signals such as bouncing around support or oversold RSI signals as indicators. The discussion then shifts to Ethereum, which, despite being in a short-term bearish trend on the daily chart, is still within a larger bullish trend on the weekly chart. The price of Ethereum is holding above a critical Fibonacci level of support at approximately 2870. For a bullish reversal on the daily chart, a breakout above the current resistance level around 3220 and the previous high around 3270 to 3350 is needed. Josh also mentions the potential for profitable trades in choppy sideways price action and encourages viewers to stay tuned for more information.

10:01

🔄 Ethereum's Short-Term Bearish Divergence and Trading Strategies

In this paragraph, Josh discusses Ethereum's potential short-term bearish divergence on the 4-hour chart, which suggests reduced bullish momentum and could lead to choppy sideways price action or a pullback. He explains that for this bearish divergence to be invalidated, either a new bullish divergence must form or the price must breakout above the current resistance level, leading to new higher highs in the RSI. Additionally, Josh provides an analysis of Solana's price action on the 12-hour chart, noting a breakout and retest of a resistance area that was previously support between 167 to 172. He stresses the importance of the price holding above this area, as a drop below 167 could signal a bearish trend and a potential move to 160, which is a critical level to hold. If the price can maintain above these levels, the breakout from an inverse Head and Shoulders pattern remains active, with a price target around 29, indicating a significant potential upside. Josh also notes that short-term pullbacks are healthy for the bullish trend, as they help reset indicators like the RSI, providing more room for upward movement.

15:02

🌐 Conclusion and Additional Trading Resources

The final paragraph wraps up the video with a brief mention of additional resources for trading strategies and a farewell. Josh provides links to videos that teach viewers how to profit from both bullish and bearish price actions, as well as from choppy sideways price action. He expresses hope that the viewers have enjoyed the video and looks forward to the next video, signaling the end of the current discussion.

Keywords

💡Bitcoin

Bitcoin is a decentralized digital currency that operates without a central bank or single administrator. It is the largest and most well-known cryptocurrency. In the video, Bitcoin is discussed in the context of its price movements and technical analysis, highlighting its current trends and potential trading opportunities.

💡Resistance

In technical analysis, resistance refers to a price level that an asset has difficulty surpassing as it rises. It is a concept used to identify potential reversal points in the price trend. The script mentions Bitcoin facing 'critical resistance' around 67 to 68,000, indicating a price level where selling pressure could lead to a price drop.

💡Bullish Trend

A bullish trend is a movement in the price of an asset that is characterized by higher highs and higher lows over time, indicating that the asset is in an uptrend. The video discusses Bitcoin's larger bullish trend, suggesting that despite short-term fluctuations, the overall direction is upwards.

💡Bearish Divergence

Bearish divergence is a technical analysis term that occurs when the price of an asset makes a new high, but a technical indicator like the RSI does not, suggesting that the upward momentum is weakening. In the script, a bearish divergence on the 4-Hour chart for Bitcoin is mentioned as a warning signal for potential short-term price pullbacks.

💡RSI (Relative Strength Index)

The Relative Strength Index is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is used to identify overbought or oversold conditions in the market. The video refers to the daily Bitcoin RSI, noting its bullish reversal and its implications for potential price movements.

💡Falling Wedge

A falling wedge is a bullish continuation pattern on a price chart that consists of two converging trendlines, with lower highs and lower lows, typically signaling a reversal from a downtrend to an uptrend. The script discusses a breakout from a bullish falling wedge in Bitcoin's daily chart, indicating a potential continuation of the bullish trend.

💡Ethereum

Ethereum is an open-source blockchain with its own cryptocurrency called Ether. It is the second-largest cryptocurrency by market capitalization and supports smart contracts. The video script analyzes Ethereum's price action, discussing its short-term bearish trend within a larger bullish trend.

💡Fibonacci Level

Fibonacci levels are a set of horizontal lines that indicate areas of potential support and resistance on a price chart, derived from the Fibonacci sequence. They are used in technical analysis to predict future price movements. The script mentions Ethereum holding above a critical Fibonacci level of support, which is significant for its price stability.

💡Liquidation

In the context of trading, particularly with leverage or margin, liquidation refers to the process where a broker closes out a trader's position due to insufficient funds to maintain the margin requirements. The video discusses Bitcoin liquidations around $68,000, which is an important level to watch for potential price reactions.

💡Inverse Head and Shoulders

An inverse head and shoulders is a bullish reversal pattern on a price chart, consisting of a lower low (the 'head') flanked by two higher lows (the 'shoulders'). It suggests that the asset's price is likely to rise after the pattern is confirmed. The script refers to an inverse head and shoulders pattern for Solana, indicating a potential bullish price movement.

Highlights

Bitcoin is currently in a larger bullish trend, known as a bull market, as it has not invalidated the higher low higher high price structure on larger time frames like the 3-day or weekly charts.

A hidden bullish divergence is present, suggesting a continuation of the larger bullish trend over the coming months.

Despite the larger bullish trend, short-term bearish price action can occur, indicating the importance of understanding different time frames.

The DXY, a dollar index, has been pulling back, which is a bullish reversal signal for Bitcoin in shorter term trends.

The daily Bitcoin RSI has started a bullish reversal, breaking out above critical resistance and forming higher lows and highs.

A breakout to the upside from a bullish falling wedge is still active on the daily Bitcoin chart, with the first major obstacle being a significant resistance area between 67 to 68,000.

A bearish divergence on the 4-hour time frame suggests potential choppy sideways price action or a short-term pullback in the price of Bitcoin.

Ethereum is holding above a critical Fibonacci level of support, approximately at 2870, within a larger bullish trend on the weekly time frame.

On the daily time frame, Ethereum is within a short-term bearish trend, needing a confirmed breakout above 3350 to reverse into a bullish direction.

A new short-term bearish divergence in Ethereum's 4-hour RSI indicates reduced bullish momentum and potential sideways or pullback scenarios.

Salana has broken out and is retesting an area of resistance turned support between 167 to 172, with a failure to hold above indicating a bearish signal.

A breakout for an inverse Head and Shoulders pattern in Salana is still active, with a price target to the upside at around $29.

Short-term pullbacks in Salana are healthy for the bullish trend, helping to reset the RSI and provide more room to the upside.

Trading opportunities exist in both bullish and bearish price action, as well as in choppy sideways price action.

The presenter has entered a long position in Bitcoin around previous local lows and may add to the position if certain short-term bullish signals appear.

For real-time updates on trading strategies, follow the presenter on Instagram or Twitter.

The presenter is trading on Buybit and Bitflex, offering a deposit bonus and an exclusive 200 USDT airdrop for new users.

Transcripts

welcome back to the crypto Channel

everyone my name is Josh and R now

Bitcoin is rejecting from critical

resistance as the price is playing out a

new warning signal in the short term

that could reveal the next trading

opportunity while ethereum is also

flashing a new warning signal in the

short term so I'll be talking about all

of that and more later in the video so

definitely watch to the

end first of all starting off on the

3-day Bitcoin chart and right now the

price of Bitcoin is still technically in

a larger bullish trend on the larger

time frames also known as a bull market

because at least as of right now the

price of Bitcoin has not yet invalidated

the higher low higher high price

structure on the larger time frames like

the 3-day chart or the weekly chart for

example and on top of that we also have

this hidden bullish Divergence which is

a trend continuation pattern telling us

that we're most likely going to continue

the larger bullish Trend over the coming

months but as I always say it is

important to understand the difference

between the different time frames so

even though we might still be in a

bullish trend on the larger time frames

during this larger bullish Trend we can

see short-term bearish price action here

and there and so just because I'm still

bullish on the larger time frames in

terms of the larger Trend that does not

necessarily mean bullish across all time

frames and if we're taking a look at the

daily Bitcoin chart as of right now

since my last video here on the channel

the dxy here on the daily time frame has

not updated because the dxy has been

closed for trading over the weekend but

basically in case you're new to this

channel the dxy has been pulling back

over the last couple of weeks which has

been a bullish reversal signal for

Bitcoin in terms of these shorter term

Trends here in the price but if you

missed my last video and if you want to

know more about this dxy right here and

what it exactly means for Bitcoin moving

forward then check out my last couple of

videos here on the channel to find out

more and something similar can be said

about the daily Bitcoin RSI because

since my last video not a lot has

changed in the daily Bitcoin RSI and so

obviously as I've been saying basically

every day over the last couple of weeks

the daily Bitcoin RSI has already

started a bullish reversal breaking out

above critical resistance and forming

higher lows and higher highs and the

last couple of times we've seen this in

the daily Bitcoin RSI this has happened

right at the beginning stages of the

next major move to the upside or Trend

in the price of Bitcoin but once again

during these larger bullish moves or

these bullish trends we can see

short-term bearish price action and

short-term pullbacks here and there

during the bullish Trend and if we're

taking a look at this daily Bitcoin

chart as of right now this breakout to

the upside from this bullish falling

wedge is technically still active on the

chart but with that being said we have

now run into the first major obstacle in

this breakout to the upside which is

this significant area of resistance that

I've been talking about here on the

channel sitting in between 67 to

68,000 and so once again as I've already

been sharing here on the channnel we are

likely going to see the price of Bitcoin

struggle around this area on the chart

and we're likely going to see at least

some sort of sideways consolidation or

possibly a short-term pullback or

rejection from that resistance area

which so far is playing out exactly as

expected but once again this might only

be a minor pullback during the larger

breakout to the upside considering the

overall breakout from this falling wedge

is technically still active and in order

to validate this breakout to the upside

for this falling wedge would have to see

a break back below this point of the

breakout which is sitting at around 62

to 63,000 and once we eventually see a

confirmed breakout above 68,000 for as

long as we don't invalidate this

breakout for the falling wedge and we

eventually confirm a breakout above this

area of resistance then once we see that

confirmed breakout above 68,000 we could

likely see a quick move up towards that

alltime high area in between around 72

to 74,000 as the next major area of

resistance to the upside but once again

only once we confirm a breakout above

68,000 which as of right now has not

happened and if we're zooming further

into the shorter term right here on the

4-Hour time frame we are now seeing this

bearish Divergence that I've been

warning about over the last couple of

days this is now playing out as expected

and so once again as I've already been

saying over the last couple of days

we're most likely going to see either at

least some choppy sideway way price

action if not a short-term pullback in

the price of Bitcoin as the most likely

scenarios at least in the short term as

in talking about the next couple of days

or so and if we're taking a look at the

last time we saw a short-term bearish

Divergence here on the 4-Hour time frame

this played out over the next couple of

days over the next two to three days

give will take in the form of a

short-term pullback before we eventually

continued that bullish Trend higher

later on and so once again if you're

zooming out to a larger time frame if

that short-term be Divergence continues

to play out like what we saw last time

around a week ago give or take then that

bearish Divergence playing out might

look something like that for example

before potentially continuing the

bullish Trend higher later on and so

that's why I've been saying it's

important to understand the difference

between the different time frames when

we're talking about the larger Trend

playing out I am still bullish but

during that larger bullish Trend we can

see some short-term pullbacks here and

there and once again right now we're

potentially seeing a bit of a short turn

pullback playing out but this could be a

trading opportunity that we could take

and personally my trading opportunity is

I've already entered a long position

around these previous local lows closer

towards 59 to 60,000 and as of right now

like I said in my last video I've

already taken some profits off the table

for this long position right here and I

still have a lot of the position open

but since my last video this position

has not changed I haven't done anything

to this position since my last video but

basically the potential trading

opportunity when it comes to this

short-term pullback is potentially in my

situation I may look to add to this long

position if we see a continued pullback

here and so for example if we start

bouncing around this previous low at

around 65,000 which was also previous

resistance that could be a possible

signal to add to this long position or

for example if we see the 4-Hour Bitcoin

RSI play out this bearish Divergence and

then perhaps in a day or two from now if

it starts entering closer towards over

sold territories that could also

potentially be a signal to add to this

long position basically if we start

seeing some short-term bullish signals

like bouncing around support or some

oversold signals in the RSI anything

like that then once again I'll

potentially use this short-term pullback

to add to this long position considering

I am still bullish in terms of the

larger Trend at play and as I've

explained here on the channel the idea

around this specific long position right

here as always not Financial advice but

in my trading strategy right here the

idea for this long position is to

basically have it as more of a swing

trade trading the larger move to the

upside kind of like what we saw back

here or back here for example and so

essentially when we're running into

resistance at those areas I might take a

little bit of profits off the table as I

just did recently but then if we're

seeing these short-term pullbacks along

the way like what we've seen previously

on those opportunities I may look to add

to that long position and as always

everying single day here on the channel

I'll keep you up to date on this trading

strategy as I've been doing basically

every day over the last couple of weeks

and also if you want to get extra

real-time updates throughout the day if

I make any changes to this trading

strategy check out my Instagram or my

Twitter link down below this video

because on those other social medias

I'll also make any extra updates if I

actually make changes to this trading

strategy and if you also want to take

trades just like this to make a lot of

easy profits in crypto then make sure to

check out this exchange which I'm

trading on right now which is buybit so

I'll make sure to leave a link to buybit

down below this video in the description

and in the pinned comment and if you use

that link down below this video to make

a buybit account and deposit on that

account then you can get up to a $30,000

deposit bonus but only if you use that

link down below this video and also if

you use that link it will take you to

this page right here where you can claim

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just by making a buit account using that

link down below this video making a

deposit and claiming the airdrop and so

if you're going to be trading crypto

anyway you might as well check this out

once again first link down below this

video but for whatever reason if you

cannot access bybit or if you cannot kyc

on bybit there is also bitflex which is

another crypto exchange similar to

buybit but you don't need KY for bitflex

and so I will also make sure to leave a

link to bitflex down below this video as

an alternative crypto exchange and if

we're taking a quick look at the Bitcoin

liquidation heat map we can see over the

last one day we liquidated some of that

liquidity that was sitting at around

675,000 but we still have around $2

billion worth of liquidations sitting

closer towards around

68,000 and so once again we ideally need

to confirm a breakout above 68,000 in

order to set up that next move to the

upside towards these local highs and

with that being said taking a look at

etherum on the weekly time frame and

right now the price of eth is still

holding Above This critical Fibonacci

level of support which is sitting at

around 2870 approximately and at least

for now the price of eth is technically

within a shorter term bearish Trend that

is within a larger bullish trend on the

weekly time frame and obviously this is

nothing new for the price of eth we have

seen this previously during this very

bullish Trend that we've been in

basically since around mid 2022 but if

we're taking a look at the daily time

frame once again we can clearly see that

at least for now on The Daily Time frame

we're still technically within this

short-term bearish Trend forming lower

highs and lower lows at least for now on

The Daily time frame and as I've been

saying over and over again recently here

on the channel in order to become more

confident that we're actually flipping

into the bullish Direction on the daily

chart basically reversing from a

short-term bearish Trend into a

short-term bullish Trend in order to

confirm that bullish scenario we need to

see a confirmed breakout ideally Above

This previous high and at least Above

This resistance and this line of of

resistance is currently sitting at

around 3220 and this previous high if

we're looking at the candle closes is

sitting at around 3270 or if we're

looking at the actual candle wick high

that is sitting closer towards

3350 and so once again we ideally need

to confirm a breakout above 3350 in

order to actually become more confident

that the price is reversing back into

the bullish Direction here in the

shorter term similar to what Bitcoin has

been doing over the last 1 to 2 weeks or

so and if we're zooming into just this

area on the chart right here on the 8

hour time frame right now the price of

eth is still potentially just in this

choppy sideways price range in the

somewhat shorter term here sitting in

between this area of support and this

area of resistance first of all this

area of support is still sitting in

between around 2850 to 2950 and this

area of resistance is sitting in between

3.2k to 3250 with more resistance once

again at around

3350 but believe it or not you can still

make a lot of easy profits in choppy

sideways price action just like this and

if you want to know how to do that then

stick around to the end of this video to

find out more but first taking a quick

look at the 4-Hour time frame and right

now the price of eth is potentially now

playing out a new short-term bearish

Divergence because as of right now the

price has already confirmed a higher

high in the 4-Hour candle closes while

the RSI has confirmed a lower high which

is technically a bearish Divergence

basically the exact opposite of the this

previous short-term bullish Divergence

and so this basically means the previous

short-term bullish Divergence back here

is no longer playing out it has already

completed as we've seen over the last

few days and instead due to this new

bearish Divergence we're most likely

going to see reduced bullish momentum

over the next couple of days as the most

likely scenario and what I mean by

reduced bullish momentum is basically

either choppy sideways press action or

potentially a bit more of a pullback as

the most like outcomes just in the short

term here and in order to invalidate

this bearish Divergence would have to

see either a new bullish Divergence form

or for example a breakout above this

line of resistance into some new higher

highs in the RSI those signals will help

to invalidate this bearish Divergence

and if we're taking a quick look at the

price of salana on the 12-hour time

frame over the last one day the price

has broken out and is now retesting this

area of resistance which was previous

support sitting in between between

around 167 to 172 and so it is quite

important that the price holds above

this area on the chart because if we see

candle closes on the 12-hour chart for

example back below around 167 then at

least in the imminent short term here

that would be a bit of a bearish signal

most likely resulting in a continued

drop to this level right here sitting at

around 160 and that level will be a very

important level to hold above if we

actually make it back down towards that

level because basically if we actually

break back below 160 that would

invalidate this breakout for this

inverse Head and Shoulders pattern but

at least for now because that has not

currently happened at least for now the

breakout for this invers head and

shoulders pattern is still active with

the active price Target to the upside

sitting at around

$29 approximately and so from the point

of the breakout to that price Target

that was potentially around a 30% move

to the upside or from where we are right

now as I've recorded this video to that

price Target that's still around a 23%

move to the upside and as for other

resistance between now and then we could

also find some resistance at around 183

and more resistance at just above

$200 and we also have to keep in mind

that the 12-hour salana RSI just brushed

against overbought territories over the

last 1 to 2 days and so there's no

surprise that we're seeing a little bit

of a short-term call off here in the

Press of salana to help to reset this

RSI because we were starting to get a

little bit too overheated just in the

short term and so these shortterm

pullbacks along the way up are actually

healthy for the bullish Trend because

when we're seeing these short-term

pullbacks that is helping to reset these

price oscillators like the RSI for

example giving us more room to the

upside later on and once again if you

want to trade these moves in the price

of any crypto check out those links down

below this video to claim those extra

bonuses and if you want to actually know

how to take these trades 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 using

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 is

everything that I have to say for today

I really hope you enjoyed and I'll see

you all in the next video