Cryptocurrency

The Bitcoin ETF Just FLIPPED (Warning)!! Bitcoin News Today & Ethereum Price Prediction!



The Bitcoin ETF Just FLIPPED (Warning)!! Bitcoin News Today & Ethereum Price Prediction!
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Timestamps:
Bitcoin ETF News Today!! 0:00
Important Bitcoin Analysis! 3:26
Ethereum Technical Analysis! 11:32
Solana Technical Analysis! 14:46

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– Crypto World –

Welcome back to the crypto Channel everyone my name is Josh and right now the Bitcoin ETFs are flashing a bearish reversal signal for Bitcoin that we need to pay attention to so I’ll be talking about that in just a moment alongside both Bitcoin and ethereum technically still playing out these short-term

Bearish divergences which I’ll talk about later in the video so definitely watch to the end first of all we need to talk about the Bitcoin ETF news today because just over the last one day we actually saw the first net outflow coming out of the spot Bitcoin ETFs in almost 1 month

Because just yesterday on the 21st of February we saw approximately 35 to 36 million us flow out of the Bitcoin ETFs this is a net outflow and if we’re looking at the last net outflow coming out of the Bitcoin ETFs that happens all the way back on the 25th of January and

Remember when we’re talking about net inflows or net outflows that’s talking about the total amount of inflows and outflows for that specific day out of all of the spot bit coin ETFs and so of course if we’re left with a net outflow that means more money actually left the

ETFs on that day compared to what actually entered the ETFs and if we’re taking a look at this data from bitmax research we can actually see once again the last net outflow here on the right hand side was back on the 25th of January that was around $80 million

Flowing out of the Bitcoin ETFs back on the 25th of January because these numbers right here show the numbers in millions of US Dollars and once again on the bottom row right here on the 21st of February we saw approximately $ 35.7 million us flow out of the Bitcoin ETF

Factoring everything in and we can see that out of all of the spot Bitcoin ETFs really the only one that was actually resulting in outflows was of course the gray scale Bitcoin trust the grayscale spot Bitcoin ETF causing a lot of outflows just yesterday but it was only

Slightly higher than previous days it wasn’t a massive Spike to the upside in grayscale’s outflows but we did actually see less inflows coming in through other ETFs like the Black Rock ETF for example because just to compare if we’re looking at last week’s numbers we saw Black Rock

On some dayss accumulating nearly half a billion dollars and quite a few hundred million doar each weekday if we’re looking at last week whereas just yesterday Black Rock Only accumulated just under $100 million worth of bitcoin which is still a lot of Bitcoin but obviously it’s a lot less compared to

What they were previously accumulating even just last week and so when we combine these two factors together and we’re looking at other ETFs like black rock or Fidelity buying a little bit less than normal at the same time as gry gal selling a little bit more than

Normal of course that gave us that net outflow which is bearish because remember this is talking about spot Bitcoin ETFs so if we’re seeing net inflows that means these ETF providers like black rock for example are having to buy Bitcoin to back their ETF if we’re seeing net inflows but if we’re

Seeing net outflows that means the ETF providers are having to sell Bitcoin to pay out those outflows and pretty much the only outflows from all of these Bitcoin ETFs are coming solely from grayscale because of course gry scale is currently charging a much higher fee

Compared to all of the other ETFs but if we’re taking a look at this right hand side here this is the net inflows and net outflows once again the previous net outflows all occurred around mid January with the last net outflow once again around the 25th of January other than

Yesterday and if we’re taking a look at the Bitcoin chart that was right around here when we saw a decent amount of net outflows and so clearly when we’re looking at the Bitcoin price chart when we were seeing net outflows coming out of the ETFs we can clearly see that had

A negative effect on the price of Bitcoin but if we’re looking at January 25th that was the last day where we saw net outflows other than yesterday and just after that we saw a significant amount of net inflows especially around early to mid-February if we’re looking at that time period that was right

Around here when we were seeing a lot of sign ific net inflows coming into the Bitcoin ETFs right around the end of January and especially around early to mid February and once again it was around the 25th to 26th of January where we saw those net outflows stop and net

Inflows start coming in and that was right around here in the price of Bitcoin and so essentially at the exact point where the net outflows reversed into net inflows in the spot Bitcoin ETF that was pretty much at the precise point on the Bitcoin chart where Bitcoin reversed from bearish to bullish and

Then as the Bitcoin inflows started picking up more and more steam around early to mid-February the Bitcoin price also started to go a lot higher than what was previously happening but more recently we’ve seen the inflows slow down and just yesterday we actually saw the first net outflows since the 25th of

January and once again we’ve seen a bit of short-term bearish price action with that happening and so it’s very clear that these Bitcoin ETFs are having a significant impact on the Press of Bitcoin and so if these net outflows actually continue if we continue to see more net outflows moving forward then I

Would not be surprised if we do end up seeing some more bearish price action similar to what we saw in January but for all we know this could just be a one-off and we see some more net inflows from here on out and so of course if

That’s the case if we see more net inflows coming into the Bitcoin ETFs then obviously that would be a continued bullish signal for Bitcoin like what we saw around here and so as always I’ll keep you up to date on what’s Happening Here on the Bitcoin ETFs in real time

Over on my Twitter and every day here on this channel so make sure you subscribe to this Channel with notifications turned on so that you don’t miss out on any of these important update videos but anyway zooming out to the weekly Bitcoin chart and right now the price of Bitcoin

Is still holding Above This golden pocket which is sitting in between around 48,000 to 50,000 and so once again as I’ve been saying recently on the channel while the price of Bitcoin is still above the golden pocket obviously we’re still looking bullish here on the larger time frames and

Especially in terms of the larger Trend and momentum on the weekly time frame we’re still very much bullish we’re still in a bull market despite what’s happening on smaller time frames and once again on this 3-day Bitcoin chart as I’ve been talking about over the last

One week or so I now expect this volatile move to the upside to no longer play out because we’ve already seen the volatile move to the upside playout exactly as expected and basically now I expect a bit of a short-term break from all of that crazy bullish price action

But that does not necessarily mean the reversal out of this bearish trend because just like what we saw in around October November and also back in January 2023 we saw these extreme volatile moves straight to the upside but ultimately after those volatile moves actually ended we still ended up

Seeing higher prices in the price of Bitcoin later on and so that’s what I’m currently expecting moving forward here on the 3-day time frame which so far is playing out exactly as expected and if we’re taking a look at the daily Bitcoin chart right now we’re still technically

Losing some bullish momentum here in the daily Bitcoin macd but at least for now this is currently doing a decent job at cooling off the RSI coming out of those overboard territories and so if this continues to cool off back down towards more neutral levels of course this can

Give us more room to the upside later on and so this is why these sideways consolidations and also some short-term pullbacks along the way are very healthy for a bullish Trend because it means the bullish Trend can be more sustainable and last a lot longer and so once again

In terms of the larger Trend at play I’m still very bullish on the price of Bitcoin it’s just in the immediate shortterm we’re currently seeing a bit of a pause from that bullish trend before potentially continuing the trend later on and if we’re taking a look at the 4-Hour Bitcoin chart technically

This bearish Divergence is still playing out exactly as expected as I’ve been talking about since all the way back here because once again a bearish Divergence usually plays out in the form of either choppy sideways price action if not a slight pullback as the most likely outcomes or most common outcomes

From a bearish Divergence and obviously since this bearish Divergence actually confirmed we have indeed seen a lot of choppy sideways press action which is once again one of the most common outcomes from a bearish Divergence and if we’re taking a look at this 4-Hour Bitcoin chart technically speaking we

Brak to the downside from this triangle pattern right here setting up a bearish price Target at roughly around 48.9k but as I mentioned in my last video we do have other support levels that we need to pay attention to for example this level right here which is sitting at around 505,000 approximately

And also based on these candle closes we do have some support at around 51k and so if we’re looking at that area of support right there roughly in between around 505,000 to 51k of course that creates this area of support on the chart which also creates a possible

Bullish flag pattern or potentially even just a sideways consolidation a sideways price range and so basically while the price of Bitcoin is in between this area of support and this level of resistance which by the way is sitting at around 52.5k while the price of Bitcoin is in

Between that support and that resistance in the immediate short term we’re actually looking relatively neutral because we’re simply lacking momentum here on the daily time frame at the same time as playing out this bearish Divergence resulting in choppy sideways price action and once again we’re trading currently in a sideways price

Range but believe it or not you can actually 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 and of course the moment we see a confirmed

Break below this area of support or above this level resistance that will be the point where we could flip much more bearish or much more bullish again in the short term and so right now we’re just waiting for a break of one of those levels and until then we’re looking

Relatively neutral in the short term but the moment we see a confirmed breakout above resistance or below support of course if you want to trade one of these moves whether we’re breaking to the downside or to the upside you can use a long position or a short position to

Profit in either direction and personally I take trades just like that over on bybit so I’ll make sure to leave a link to bybit 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

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Need kyc for bitflex and also right now there’s that exclusive Apple watch giveaway happening over at bitflex only if you use the link down below this video and so if you’re trading crypto anyway or if you’re preparing to take the next trade you might as well get set

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The downside sitting at approximately 50.4k to 50.5k give or take but we also now have some liquidity starting to build back up to the upside which is sitting at around 53.1k to 53.2k approximately and so basically just on the other side of this support and this resistance we have a bit of

Liquidity either side which basically means we could potentially see some candle wicks slightly below support or just above resistance to basically grab that liquidity to the upside or to the downside but remember we’re not really breaking in the bearish or bullish Direction until we start seeing some confirmation like candle closes either

Above resistance or below support and until then once again while we’re in this ways price range we’re simply looking relatively neutral but anyway taking a look at the ethereum chart on the weekly time frame we’re still trading well Above This golden pocket so here on the weekly time frame we’re

Still very much looking bullish and so despite what the smaller time frames look like once again on the weekly time frame I’m still very bullish on the price of eth and if we’re taking a look at the daily eth to US dollar chart right now the daily ethereum RSI is

Still currently overbought as the macd has lost a small amount of bullish momentum but has not lost as much bullish momentum compared to what Bitcoin has lost which is why we’ve seen Bitcoin basically consolidate sideways over the last one week or so while ethereum has pushed a little bit higher

But is currently slowing down at least a little bit compared to what we were previously seeing a couple of weeks ago but once again as I’ve also been saying recently on the channel even though we’ve lost a small amount of bullish momentum we have not reversed the trend

And we have not confirmed any bearish momentum because we have not confirmed any bearish cross here in the macd which is why I’ve also been saying in terms of the trend and momentum we’re still currently looking more bullish than bearish because we have not confirmed any bearish reversal it’s just in the

Shorter term here we’re losing a little bit of bullish momentum but once again we’re still currently more bullish than bearish it’s just we’re slowing down at least a little bit and part of that could be due to the fact that here on the 8 hour time frame we do technically

Have this bearish Divergence active here on the 8 hour time frame which once again usually plays out in the form of either choppy sideways price action if not a slight pullback as the most likely outcomes and so far since yesterday since this new bearish Divergence actually confirmed we have actually seen

A bit of choppy sideways price action just in the short term since yesterday and so technically speaking while this is still active that is what I contined to expect in the short term once again either some choppy sideway price action or possibly a slight pullback and this will only really invalidate if we

Actually see a strong breakout in the RSI into new higher highs or at least above this line of resistance which as of right now has not yet happened and so once again just in the immediate shortterm we have some short-term weakness basically pointing towards a Slowdown in the price in this bullish

Trend but once again we have not confirmed any bearish Trend reversal and as for support levels we have found some new support right here at previous resistance which is sitting at approximately 2880 give or take and below that we have more support down towards around 2720 and in case you’re wondering as for

My ethereum long position that I entered all the way back down here and I’ve basically mentioned almost every day since all the way back down here as of right now I am still in that ethereum long position basically profiting from all of this bullish price action and my

Stop loss is already sitting in massive profits and I do not have a specific price target for this trade right now so basically what I’m doing is just keeping that trade open as the price continues further to the upside obviously I continue to profit and as the price

Moves higher I just move my stop loss further into profits and so by doing that I am not capping my upside potential if the price goes further to the upside I continue to profit but if we see a major crash or pullback or anything like that that will just

Trigger 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 this market then check out those links down below this video If you want to get those extra bonuses and

If we’re taking a quick look at the price of salana on the 8 hour time frame right now we have broken to the downside for this head and shoulders pattern below the golden pocket which was sitting at around $15 to $17 and since my last video the price has

Obviously bounced back to the upside to retest this golden pocket but as of right now at least as of recording this video we’re currently seeing a slight rejection from this golden pocket so of course if this continues with some red candles actually closing then that could potentially confirm this retest as a

Rejection which could further confirm the break to the downside and I mentioned in my last video that I did actually open a small short position with this break to the downside and as of right now I still have part of that short position still open but I did

Actually close part of that short position right around this level of support because as I mentioned in my last video of course it’s possible the price could actually bounce around these levels of support and we do have some support at around $99 to $100 and so

Once again for that reason I took some profits of the table just closed part of that short position in some decent profits and I still have the other part of that position still remaining open in case we actually continue towards the technical price target for this pattern

Which by the way is sitting at around 90 $4 to $95 and essentially I’d look to close that position once we confirm a breakout back above around $17 but in that case because I’ve already taken some profits off the table even if we close back above $17 and I

Close that position right around there in that case I’ll still come away in some slight profits due to the profits that I’ve taken right around this bounce and if you want to know how you can actually trade these moves in the price of crypto even if we’re going to the

Downside you can profit from crypto and if you want to know how to do that then watch these videos popping up right here on your screen the video in the top left shoy he can profit from bullish or bearish Price action using long positions or short positions and the

Video in the bottom left is that video that shows you how you can easily profit from choppy sideways price action like what we should be doing for Bitcoin right now 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

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