BITCOIN $2 BILLION SHORT SQUEEZE NOW!!!! Bitcoin News Today & Ethereum Price Prediction!

Summary

In this crypto channel video, host Josh discusses Bitcoin's potential breakout above critical resistance, signaling a bullish trend. He highlights a hidden bullish divergence on the 3-day chart and the impact of a bearish DXY on Bitcoin's price. Josh also covers Ethereum's approach to a significant breakout and Solana's upward movement from a bullish pattern. He shares his trading strategy, emphasizing a bullish stance on Bitcoin, with details on his long position and unrealized profits. The video also touches on trading opportunities and strategies for various market conditions, including sideways price action.

Takeaways

• 📈 Bitcoin's price is showing a bullish trend on larger time frames with higher lows and highs, indicating a potential breakout and continued upward movement.
• 🔄 A hidden bullish divergence is present in Bitcoin's 3-day chart, suggesting that the bullish trend is likely to continue with further price increases in the coming months.
• 📊 The DXY (US Dollar Index) is currently in a bearish move, which historically has been bullish for Bitcoin and cryptocurrencies during larger market moves.
• 📊 The daily Bitcoin RSI (Relative Strength Index) is bullish, showing a breakout and forming higher lows and highs, which is often a precursor to a major bullish move.
• 💹 Bitcoin has confirmed a breakout from a bullish falling wedge pattern, setting a price target between $72,000 to $74,000, with immediate resistance around $67,000 to $68,000.
• 📉 Despite potential short-term bearish divergences on the 4-hour chart, the larger bullish trend remains intact and short-term pullbacks are expected within a larger bullish move.
• 🤑 The presenter is long on Bitcoin and has taken profits from a position that has realized significant gains, with a stop loss set to secure profits in case of a downturn.
• 🚫 The presenter warns against being misled by short-term price movements and emphasizes the importance of focusing on larger time frames for trend analysis.
• 💡 Ethereum is showing signs of a potential breakout from a bullish falling wedge pattern on the daily chart, with resistance around $3,200 and a complete technical target at $4,070.
• 🔄 Ethereum's RSI on the 4-hour chart is approaching a breakout, which could invalidate a previous bearish divergence and suggest a continuation of the bullish trend.
• 📊 Solana has retested support levels and is in an active bullish price target from a bullish inverse Head and Shoulders pattern, with resistance levels at $182 to $185 and $200 to $210.

Q & A

What is the current trend of Bitcoin according to the 3-day chart?

The current trend of Bitcoin on the 3-day chart is bullish, with higher lows and higher highs, indicating a bull market on larger time frames.

What does a hidden bullish divergence on the 3-day Bitcoin chart suggest?

A hidden bullish divergence, which shows higher lows in the price of Bitcoin and lower lows in the 3-day Bitcoin RSI, suggests that the bullish trend is likely to continue with another leg to the upside in the coming months.

How does the DXY's current trend affect Bitcoin?

The DXY is currently in a bearish move or pullback, which is typically bullish for Bitcoin, especially when considering larger moves in price.

What is the significance of the daily Bitcoin RSI looking bullish?

The daily Bitcoin RSI looking bullish indicates a strong upward momentum and suggests that the price of Bitcoin is likely to continue its bullish trend over the coming weeks.

What is the technical price target for Bitcoin after confirming the breakout of the bullish falling wedge pattern?

The technical price target for Bitcoin after confirming the breakout of the bullish falling wedge pattern is between $72,000 to $74,000.

What is the potential short-term bearish divergence on the 4-hour Bitcoin chart?

The potential short-term bearish divergence on the 4-hour Bitcoin chart is indicated by the price forming higher highs while the RSI forms lower highs, which could suggest a short-term pullback or sideways price action.

What is the current status of the Bitcoin long position mentioned in the script?

The Bitcoin long position mentioned is currently around $330,000 in unrealized profits, with over $133,000 in realized profits, and a stop loss that is already in profit.

How does taking profits in an inverse perpetual trade affect the trader's Bitcoin holdings?

In an inverse perpetual trade, even if profits are taken or the trade is closed, the profits are paid out in Bitcoin. This means that if the price of Bitcoin increases after taking profits, the trader continues to benefit due to holding more Bitcoin.

What is the current trend of Ethereum on the weekly time frame?

The current trend of Ethereum on the weekly time frame is bullish, with the price forming significant higher lows and higher highs, indicating a bull market.

What is the potential breakout target for Ethereum if it surpasses the resistance of the bullish falling wedge?

If Ethereum surpasses the resistance of the bullish falling wedge, which is around $3.2k, the potential breakout targets are higher levels around $3.7k and the complete technical price target at around $4.07k.

What trading strategy is suggested for choppy sideways price action in the crypto market?

The script suggests that even in choppy sideways price action, there are opportunities to make profits. Specific strategies are not detailed in the script but are mentioned to be discussed in other videos.

Outlines

00:00

📈 Bitcoin's Bullish Trend and Trading Strategy

Josh, the host of the crypto channel, discusses Bitcoin's potential breakout above critical resistance levels, indicating a bullish trend. He mentions a hidden bullish divergence on the 3-day chart, suggesting a continuation of the upward trend. Josh emphasizes the importance of understanding different time frames, highlighting the bullish signals on larger time frames despite short-term fluctuations. He also discusses the impact of the DXY's bearish move on Bitcoin's price. His trading strategy involves focusing on long positions due to the overall bullish outlook, with a detailed account of his current Bitcoin long position, including unrealized profits and a secure stop loss.

05:00

🚀 Analyzing Bitcoin's Resistance Levels and Short-Term Divergences

The speaker elaborates on Bitcoin's resistance levels, noting the importance of a daily candle closing above 68,000 to confirm a breakout. He discusses the potential formation of a new bearish divergence on the 4-hour chart, which could indicate short-term pullbacks but would not negate the overall bullish trend. Josh shares his personal trading updates, including taking profits and adjusting his long position. He also explains the benefits of trading on an inverse perpetual basis, where profits are paid out in Bitcoin, allowing him to benefit from its appreciation.

10:02

🔄 Trading Opportunities Amidst Bitcoin's Liquidation Surge

Josh talks about the significant liquidation of short positions as Bitcoin's price surges, highlighting the destruction of bearish bets against Bitcoin. He advises viewers not to be misled by short-term price movements and to focus on the larger bullish signals. The speaker also promotes his trading opportunities and provides links to trading platforms like Buybit and Bitflex, offering potential deposit bonuses and airdrops. He encourages viewers to subscribe for updates on trading opportunities and to learn how to profit from different market conditions.

15:05

💡 Ethereum's Bullish Potential and Salana's Breakout

The host provides an analysis of Ethereum's price action, noting its bounce from a Fibonacci support level and the formation of higher lows and highs, indicative of a bullish trend. He discusses the potential breakout from a bullish falling wedge pattern and the need for confirmation above certain resistance levels to strengthen the bullish case. Josh also covers Salana's price action, detailing a successful retest of support and the potential for further upside based on a bullish inverse head and shoulders pattern. He provides insights into trading strategies and the potential for significant profits with leverage, while also mentioning his personal decision not to trade Salana due to his existing Bitcoin position.

Keywords

💡Bitcoin

Bitcoin is a decentralized digital currency that operates without a central bank or single administrator. It is the largest of its kind in terms of total market value. In the video's context, Bitcoin is discussed as being in a potential breakout phase, indicating a possible increase in value. The script mentions Bitcoin's price action, RSI (Relative Strength Index), and its bullish trend on larger time frames, suggesting an overall positive outlook for the cryptocurrency.

💡Bullish Trend

A bullish trend in financial markets, including cryptocurrency, refers to a period where prices are generally rising or are expected to rise. The video script describes Bitcoin's price action as exhibiting a bullish trend on larger time frames, characterized by higher lows and higher highs, which is a positive sign for investors and traders.

💡RSI (Relative Strength Index)

The RSI is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is typically used to identify overbought or oversold conditions in the market. In the video, the RSI of Bitcoin is mentioned as showing bullish signals, with higher lows in the RSI compared to Bitcoin's price, indicating potential for continued upward momentum.

💡Breakout

A breakout in trading refers to the price of an asset moving past a significant level of resistance. In the script, the term is used to discuss Bitcoin's potential to break above a critical resistance level, which could lead to further price increases. The video also discusses Ethereum's closeness to a breakout from a bullish falling wedge pattern.

💡Support and Resistance

In technical analysis, support and resistance are levels on a price chart where the price has stopped falling (support) or rising (resistance) multiple times. In the video, support and resistance levels are mentioned for Bitcoin and Ethereum, indicating price areas where the market may find stability or face challenges to continue its trend.

💡Divergence

Divergence refers to a situation where the price of an asset and a technical indicator move in opposite directions. A bullish divergence suggests that the asset may increase in price, while a bearish divergence suggests a potential decrease. The script discusses a hidden bullish divergence in Bitcoin's RSI and the potential for a new bearish divergence on the 4-hour chart.

💡Liquidation

In the context of trading, liquidation refers to the process of closing a position, often when it reaches a certain loss level or margin call. The video script mentions the liquidation of short positions in Bitcoin, indicating that traders who were betting against Bitcoin's price increase are being forced to close their positions, leading to significant losses.

💡Ethereum

Ethereum is an open-source blockchain platform that features smart contract functionality. It is the second-largest cryptocurrency by market capitalization after Bitcoin. The script discusses Ethereum's potential breakout from a bullish falling wedge pattern and its current price action in relation to support and resistance levels.

💡Inverse Head and Shoulders

An inverse head and shoulders is a bullish reversal pattern used in technical analysis to predict an upward price movement. The video script mentions this pattern in relation to Solana's price, suggesting that after a breakout above a certain level, the price could rise significantly, targeting higher levels.

💡Short Positions

A short position is a trading position where an investor sells a security or other asset with the expectation that the asset's price will decline, allowing them to buy it back later at a lower price and profit from the difference. The script discusses the liquidation of billions of dollars in short positions on Bitcoin, indicating a significant market event where bearish traders are facing losses.

Highlights

Bitcoin is potentially breaking out above a critical resistance, indicating a major bullish trend.

A hidden bullish divergence is present on the 3-day Bitcoin chart, suggesting a continuation of the bullish trend.

The difference between short-term and long-term time frames in cryptocurrency trading is emphasized, with long-term trends being more stable.

The DXY's bearish move is considered bullish for Bitcoin, as historically a bearish DXY has coincided with bullish moves in Bitcoin.

The daily Bitcoin RSI indicates a very bullish outlook, with higher lows and higher highs forming over the last couple of weeks.

A confirmed breakout from a bullish falling wedge pattern in Bitcoin sets a price target between $72,000 to $74,000.

Short-term resistance around $67,000 to $68,000 in Bitcoin's price is noted, with the potential for it to become new support if broken.

A new bearish divergence is potentially forming on the 4-hour Bitcoin chart, although it is not yet confirmed.

Ethereum is approaching a major breakout, with the price getting closer to a bullish falling wedge resistance.

A breakout in Ethereum's RSI invalidates a previous bearish divergence, suggesting a potential continuation of bullish momentum.

Salana has already broken out further to the upside from a bullish pattern, with a price target set between $28 to $29.

Billions of dollars of short positions in Bitcoin are being liquidated, indicating a strong bullish move against the bears.

Ethereum's price is forming higher lows and higher highs on the weekly time frame, indicating a larger bullish trend.

Trading strategies are discussed, focusing on long positions in Bitcoin and potential entry points for added positions.

The presenter shares personal trading positions and profits, illustrating the effectiveness of the discussed strategies.

Information on how to trade crypto in any direction, including during choppy sideways price action, is offered.

Transcripts

welcome back to the crypto channel of

your own my name is Josh and right now

Bitcoin is potentially breaking out

Above This critical resistance getting

ready for the next major move towards

the upside while a new warning signal is

still flashing in the short term that we

need to pay attention to so in just a

moment I'll be talking about my trading

strategy alongside ethereum getting

closer towards potentially a major

breakout while salana is already

breaking out further to the upside from

this bullish pattern 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 look at the

3-day Bitcoin chart and right now the

price of Bitcoin is still looking very

bullish on the larger time frames

because at least as of right now despite

the short-term pullbacks along the way

we are still seeing higher lows and

higher highs in the price of Bitcoin on

the larger time frames also known as a

bullish Trend or bull market if we're

talking about the larger time frames and

also as I've been saying B basically

every day over the last couple of weeks

or so we do have a hidden bullish

Divergence here on the 3-day Bitcoin

chart with higher lows in the price of

Bitcoin and lower lows in the 3-day

Bitcoin RSI and a hidden bullish

Divergence tells us that we're likely

going to continue the bullish Trend with

another leg to the upside in the coming

months and so once again that's

basically the exact same thing I've been

saying every day over the last couple of

weeks I have not changed once on the

large time frames here but as always in

case you're new to this channel it's

important to understand the difference

between the different time frames so if

we're talking about the shortterm like

the 4H hour chart for example that can

flip between bullish and bearish

basically every single day because it's

the shortterm it's talking about the

smaller time frames but once again when

we're zooming out on the larger time

frames these larger time frames don't

change very often which is why I've been

saying basically the exact same thing on

the larger time frames over the last few

weeks and really over the last year or

so and if we're taking a look at this

daily Bitcoin chart as of right now the

dxy is still in this bearish move still

in this pullback which is bullish for

Bitcoin because as we can see here time

and time again when the dxy is bearish

that is usually very bullish for Bitcoin

and crypto especially when we're talking

about the larger moves in the price and

so once again this is not talking about

the short-term day-to-day moves because

in the shortterm we can see bearish and

bullish price action basically every

single day but when we're zooming out

looking at the bigger picture we are in

the beginning stages of the next major

move to the upside similar to what we

saw back here for example or back here

for example once again as I've been

saying basically every day since all the

way back down here below $60,000 I've

been saying this exact same thing on

this chart right here and so since my

last video The Daily Bitcoin chart has

not really changed as well as this daily

Bitcoin chart because as of right now

the daily Bitcoin RSI is still looking

very bullish once again as I've been

saying every day over the last couple of

weeks because as soon as we started to

see this breakout in the daily Bitcoin

RSI and then especially as we started to

form higher lows and higher highs in the

daily Bitcoin RSI when I was sharing

that signal around 2 weeks ago on the

channel obviously I was comparing this

signal to previous times we've seen that

same breakout in the daily Bitcoin RSI

and these previously have occurred right

at the beginning stages of the next

major bullish move that played out over

the next few months and so once again

nothing has changed over the last couple

of weeks as I've been saying every day

I'm still very very bullish on the price

of Bitcoin when we're talking about the

larger moves on the chart but once again

in case you're new to all of this the

larger bullish moves can contain

short-term bearish price action here and

there and so just because we see a

short-term pullback or just because I

may be bearish on say the 1 hour chart

for one video that does not necessarily

invalidate the larger signals that we're

seeing on the larger time frames and if

we're taking a look at this daily

Bitcoin chart once again as I've been

saying since all the way back down here

at around 63,000 we've already seen the

confirmed breakout for this bullish

falling wedge pattern and so technically

the moment we confirmed this breakout to

the upside that set up a bullish price

Target in between around 72 to 74,000

which is still currently that active

price Target but obviously just in the

shorter term here we did run into a bit

of short-term resistance around 67 to

68,000 which we perfectly experienced a

bit of a rejection from basically the

price struggled around that area for a

few days as expected but once again that

was just a bit of shortterm resistance

during this larger bullish move that we

are seeing playing out on the larger

time frames and so now that we're

potentially breaking out Above This

resistance which technically still needs

to be confirmed with this daily candle

close confirming above 68,000 which at

least as of right now has not yet

happened but if we do end up seeing this

daily candle close actually confirm

Above This resistance then in that case

this area of resistance should become

new support in case we saw any further

pullbacks and of course the next

significant resistance to the upside on

The Daily time frame is basically these

highs right here first of all we could

find a little bit of resistance closer

towards 71,000 but the main area of

resistance is in between around 72 to

74,000 and so basically once we see

those extra confirmation signals

confirming this breakout above 67 to

68,000 like a daily candle close or a

possible retest of that area basically

once we further confirm this breakout we

can potentially quickly expect a move up

towards these local highs and one of the

reasons why we've just seen a lot of

bullish price action right here is

because a lot of short positions are

getting liquidated right here which I'll

talk about in just a moment but first

zooming into the 4-Hour Bitcoin chart

and since my last video this previous

bearish Divergence right here did

actually invalidate because since my

last video we've seen a breakout here in

the RSI Above This previous descending

line of resistance in the RSI but as of

right now we are potentially seeing a

new bearish diverence form because at

least as of right now the price of

Bitcoin is still forming higher highs

here in the short term on the 4H hour

time frame while the RSI at least as of

right now is still forming lower Highs

but it's important to understand that

this potential new bearish Divergence

that's forming right here is not yet

confirmed because at least as of right

now this latest high in the RSI is not

yet confirmed in place because the RSI

by default goes off candle closes which

basically means if the price of Bitcoin

continues this short-term pump basically

breaking out further above this area of

resistance then basically as the price

of Bitcoin pumps further to the upside

that can drag the RSI further to the

upside and if the RSI breaks out Above

This previous High to create a new

higher high in the RSI then there's no

bearish Divergence at all and so what we

need to see is some sort of rejection

some sort of short-term pullback at

least in the basically being confirmed

with one to two red candle closes in the

price and so once again we did

invalidate the previous bearish

Divergence but we're potentially forming

a new bearish Divergence on the 4-Hour

time frame which is not yet confirmed

but either way even if this new bearish

Divergence actually confirms on the

4-Hour time frame even if it confirms it

would likely just play out in the form

of some choppy sideways price action or

possibly a slight pullback kind of like

what we saw just here just in the short

term because remember this is only

looking at the 4-Hour time frame it is

zoomed into the short term and so that's

why I have to say it is important to

understand the difference between the

different time frames just because we

have a bearish Divergence on the short

term that does not necessarily mean the

larger bullish move is cancelled because

once again these larger bullish moves on

the larger time frames can contain some

short-term pullbacks here and there but

don't be fooled by the short-term

pullbacks because on the larger time

frames we are still currently looking

very bullish and so that's why when it

comes to my Bitcoin trading strategy

right now as I've been saying every day

over the last few weeks I am only

looking for long positions because I'm

very bullish on the price of Bitcoin

especially on the larger time frames and

so as of right now I'm still in that

Bitcoin long position that I've been

sharing here on the channel but just

recently just before I started recording

this video I did actually take a little

bit more profits off the table for this

long position so in my last video this

was a 220k Bitcoin long position but as

you can see here on the Le hand side

this is now a $200,000 Bitcoin long

position and so as of right now this

long position that I've been talking

about over the last last couple of weeks

is currently around $330,000 in

unrealized profits and I've already

secured over $133,000 in realized

profits and also my stop loss for this

long position is already well into

profits which means in the worst case

scenario if we were to just dump right

now which I don't exactly expect but if

that actually happens then once again

even in that worst case scenario I've

already taken some profits of the table

and my stop loss is in profits which

would close the rest of the trade in

profits in that worst case scenario but

obviously as you can see here I'm still

very much long on the price of Bitcoin

I'm still bullish especially on the

larger time frames which is why I still

have a lot of this long position open

and because this is an inverse Perpetual

trade even if I close the trade or take

profits from the trade the profits are

paid out in Bitcoin which basically

means even if I close the trade or take

some profits off the table because it's

paid out in Bitcoin if the price keeps

bumping after I've already taken some

profits from the trade I also continue

to benefit because the profits are being

paid out in Bitcoin and I'm holding more

Bitcoin and also if we end up seeing any

decent sized pullbacks along the way up

I will potentially look to add to this

long position on any decent Siz

pullbacks like what I did back here and

as I shared here on the channel when the

price pulled back to around $60,000 give

or take right around there I did indeed

add to this long position which I shared

here on the channel very transparently

and so if you're new to the channel and

you missed this trading opportunity make

sure you subscribe to this Channel with

notifications turn on so that you don't

miss out on any of these important

update videos where I actually share

these trading opportunities where you

could potentially make a lot of easy

money and if you want to actually take

these trades for yourself then

personally I'm taking this trade right

here over on buybit so I'll make sure to

leave a link to buybit in the

description down below and in the pinned

comment and if you use that link down

below this video to make a buyit 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'll take you to this page right here

where you can claim an exclusive 200 USD

airdrop position just by making a buybit

account using that link 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 to

buy a bit but you don't need kyc for

bitflex 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 hit map we can see

just now the price of Bitcoin has been

liquidating billions of dollars of short

positions and so in other words just now

the Bitcoin Bears the people that are

betting against the price of Bitcoin

going in the bullish direction are right

now getting completely destroyed we are

seeing a lot of short positions getting

completely wiped out and I've been

warning about this for a while now on

the channel in fact since the price was

below $660,000 closer towards these

local lows right here I was talking

about how we have billions of dollars of

liquidity to the upside and how the

price of Bitcoin is most likely going to

go towards those levels to liquidate all

of those short positions and so when I

was flipping bullish below $60,000 right

down here entering into my Bitcoin long

position which I was sharing here on the

channel I was getting a lot of comments

telling me how I'm going to be so wrong

and how I'm going to get completely

destroyed on my long position but

obviously you can see how the long

position is going right now and you can

see billions of dollars of short

positions are now getting completely

destroyed and so as always do not be

fooled by shortterm movements in the

price which can happen once again we can

see short-term pullbacks from time to

time but don't be fooled because on the

larger time frames we're seeing multiple

bullish signals playing out right now

and if we're taking a look at ethereum

on the weekly time frame right now we

are continuing to see the Bounce from

this Fibonacci level of support which

was sitting at around 2870 approximately

and in terms of the larger Trend at play

at least for now the price of eth is

still forming significant higher lows

and higher highs which by definition is

a bullish Trend here on the larger time

frames also known as a bull market and

if we taking a look at the daily eth to

US dollar chart right now the price of

eth is getting very close to potentially

breaking out from this bullish falling

wedge which this line of resistance is

sitting at around 3.2k approximately and

this line of support by the way is

sitting at around

2840 and once again right now we're

getting very close to seeing a potential

breakout Above This resistance but as

I've been saying recently here on the

channel ideally in order to become more

confident that we're actually flipping

bullish again out of this short-term

bearish Trend into a new short-term

bullish trend for the price of eth on

The Daily time frame we ideally need to

confirm a breakout Above This previous

High which if we're looking at the

candle closes on The Daily time frame

that's sitting at around 3270 or if

we're looking at the actual candle wick

high that is sitting at around

3350 and so once again in order to

become much more bullish again on the

price of eth in terms of the trend on

The Daily time frame we ideally need to

break out above those levels right there

and once we actually see that happen in

the price of eth once we confirm a

breakout Above This previous High then

we can start targeting higher levels

like for example these Highs at around

3.7k and the complete technical price

target for the falling wedge which would

be sitting at around

4070 and if we're zooming into just this

area on the chart taking a look at the 8

hour time frame at least for now the

price of eth is potentially still just

in this choppy sideways price range

because right now the price is still in

between this area of support and this

area of resistance first of all this

area of support is still sitting in

between 2850 to 2950 and this area of

resistance is still sitting in between

3.2k to 3250 with more resistance once

again at around

3350 and so once again this is why we

ideally need to break out Above This

previous high right here in order to

become more confident that we're

actually reversing back into the bullish

Direction here in the short term and not

still just in this choppy sideways price

range that we've been in over the last

month or so but even if we stay in this

choppy sideways price range believe it

or not you can 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 we are

potentially on the edge of seeing this

previous bearish Divergence actually

invalidate because right now the 4-Hour

ethereum RSI is getting very close to

potentially breaking out Above This

descending line of resistance and if we

see this breakout in the RSI then that

would invalidate this previous

short-term bearish Divergence which did

already play out here in the short term

with a short-term pullback and a bit of

choppy sideways price action and also

similar to bitcoin on the 4-Hour time

frame if we actually break out Above

This previous high right here and form a

new higher high in the price while the

RSI is still actually forming lower

highs then there's the potential that we

could be forming a new bearish

Divergence on this chart but once again

as of right now we haven't even

invalidated the the old bearish

Divergence at least for now and if we're

taking a quick look at the price of

salana on the 12-hour time frame

obviously since my last video we

successfully retested this area on the

chart which is now acting as new support

once again as we've seen previously on

the chart and so once again as I

mentioned in my last video that area of

support is still sitting in between 167

to 172 and as for resistance we should

expect some resistance at around 182 to

185 and that's mainly based on previous

highs and we also have more resistance

in between $200 to

$210 and as of right now we still have

an active bullish price Target playing

out which I've been talking about

basically every day since the breakout

above 160 and of course that is the

bullish price target for this bullish

inverse Head and Shoulders pattern that

I've been talking about here on the

channel once again that price Target is

sitting at around $28 to

$29 and so from the point point of the

breakout if you took this trade right

here to where we are right now we're

already up around 133% with no leverage

or to the complete technical price

Target that's around a 30% move to the

upside with no leverage or even from

where we are right now as I've recorded

in this video to that technical price

Target that's still potentially around a

15% move to the upside still to go and

so just for example as always this is

not for natur to advice but just for an

example if you had a 10x leverage long

position with a 15% move still to go a

10x leverage long position would mean a

150% profit more than doubling your

initial money but of course between now

and that price Target we do have these

areas of resistance where the price

could potentially struggle at or

experience rejections from and as I've

also mentioned recently here on the

channel due to my personal situation

already being very much long on the

price of Bitcoin and because the crypto

market usually moves together just

because of that because of my situation

once once again I'm not actually taking

this salana long position right here

which I've been sharing here on the

channel as a trading opportunity that we

could take but once again because I'm

already long on bitcoin I'm not longing

this move for the price of salana

because if salana is bullish usually

Bitcoin is also going to be bullish

which in that case i' benefit from my

Bitcoin long position but if you want to

take trades just like this once again

check out those links down below this

video to claim those extra bonuses and

if you want to actually know how to

trade crypto in any direction 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 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 video