BITCOIN CRASH EXPLAINED (New Warning)!!! Bitcoin News Today & Bitcoin Price Prediction!

welcome back to the crypto Channel everyone my name is Josh and right now Bitcoin just rejected from this massive level of resistance as the price is now playing out a huge Scandal candle in the short term liquidating billions of dollars worth of positions so in just a moment I'll be talking about my exact Bitcoin trading strategy and all of that and more later in the video so definitely watch to the end first of all starting off on the weekly Bitcoin chart and right now the price of Bitcoin is technically still playing out this massive bull market signal on the larger time frame so zooming out looking at the bigger picture at least for now nothing has really changed over the last one day for example looking at this weekly Bitcoin macd at least for now this is still currently looking bullish and if we're taking a look at the 4-day Bitcoin chart the super Trend indicator is still sitting in the green indicating a larger bullish market so as I always say here on the channel despite what happens in the short term of course we can see little pullbacks and things like that but despite what happens in the short term when we're zooming out looking at the bigger picture right now things are looking very bullish we're clearly still within a larger bull market but with that being said if we're taking a look at this weekly Bitcoin chart obviously the price of Bitcoin is still finding a lot of resistance around this 1618 Fibonacci extension level which is sitting at around $102,000 per Bitcoin so like I've said recently here on the channel ideally we need to see a weekly candle close actually confirm above at least 100,000 but ideally above 102,000 to actually confirm a breakout of above that line of resistance but for now we've not yet seen a confirmed breakout obviously the price did trade above 102,000 just yesterday but since then obviously we've now gone back below 102,000 because we haven't yet confirmed that breakout with a weekly candle close and so for now all that means is that we're still finding a lot of resistance in this area right here at around 100,000 to 102,000 approximately and if we're taking a look at this 3-day time frame right here of course we have major support at approximately 89 ,000 and also a bit of support we found recently closer towards 92,000 as we can see right here and as for the next major price Target to the upside that is sitting at around 313,000 which in my opinion it's only a matter of time before we get to 313k it's not a question of if it's a question of when but of course between now and then we need to see that confirmed breakout above 102,000 ideally with a weekly candle close above that level before expecting the price to go up towards these next major price targets and if we zooming into the shorter term looking at this 12-hour time frame obviously right now we're still seeing somewhat similar price action to what we saw exactly four years ago besides the latest breakout obviously this time around we did actually see a fake out what is known as a fake out where we initially broke out to the upside but that turned out to be a fake breakout because we broke back below that 100K level and partly due to the fact that we actually saw basically no invalidation of this previous bearish Divergence on the 12-hour time frame that's potentially one reason as to why we did not really see a follow through with this breakout in the price of Bitcoin because as we could see pretty much exactly four years ago around December 2020 alongside the breakout in the price of Bitcoin we were also seeing a breakout in the 12-hour Bitcoin RSI Above This desting lot of resistance to actually start forming some higher lows and higher highs which is obviously a bullish reversal in the RSI showing strength in the price of Bitcoin but this time around at least on this breakout attempt we did did not really see a breakout at all here in the 12-hour Bitcoin RSI in fact we saw a rejection and another lower high confirm in the RSI which is basically just extending the bearish Divergence with another lower high in the RSI and another higher high in the price making a new bearish Divergence and so technically speaking what this extended bearish Divergence actually means for the price of Bitcoin right now is that it's actually quite likely we could continue for a little while longer maybe another week or so continue chopping around sideways consolid ating maybe seeing slight little pullbacks and things like that basically the price action that we saw over the last 2 weeks we're likely going to see that sort of price action again at least potentially for another week or so because first of all usually when we see a major volatile move like this a classic Scandal candle just up and down and then back up again usually after a very volatile move like that the price basically just settles down for a little while and usually trades mostly sideways for at least the next few days but on top of that with this new bearish Divergence now on the 12-hour time frame it's likely we're going to lose a bit of bullish momentum and mostly trade sideways or maybe even see a slight pullback within the next week or so and when it comes to my trading strategy for the price of Bitcoin right now obviously as I mentioned yesterday in my last Bitcoin video I was indeed in a Bitcoin long position but since then obviously that position is now closed so first of all as I mentioned in my last video I was taking a small amount of profits off the table around these highs and I did actually close some the position at approximately 102,000 to 103,000 but as you can see right here on my buet account the rest of this long position closed at approximately just above 98,000 so the entry was around 96. 4k and the exit average exit was around 98. 3k so ultimately this position still made close to 2,000 USD in profits even in this worst case scenario and how that actually happened was of course with a stop loss sitting in profits above my entry and so as I always say when it comes to these trading strategies which I share here on the channel personally whenever a trade moves quite a bit into profits personally I always like to put my stop loss at least at break even at least at my entry but ideally moving my stop- loss into profits so that's if for whatever reason we just see a massive flash crash like this a huge dump obviously in that worst case scenario that'll just hit the stop loss and automatically close the trade at that level and if the stop loss is sitting in profits above my entry in the case of a long position then that would automatically close the trade in profits even in this worst case scenario so that's exactly what happened obviously this was not the ideal situation not the ideal outcome for a long position but even in this not ideal outcome even in this worst case scenario I still came away with close to 2,000 USD in profits in just a single day trade and so as always it is important to understand risk management use stop losses and take profits around resistance for example that is always what I talk about when I'm talking about these trading strategies but the good news is that right now at least as I recorded in this video the price of Bitcoin is trading back underneath 100K which means we're going to see another attempt eventually of a breakout above $100,000 which gives us another opportunity for those of you that perhaps missed this trade right here we potentially have another opportunity that could come at some point in the next few days or the next few weeks and so of course when it comes to that new trade if I start to enter a new trade I will be sharing that here on the channel as always so make sure you're subscribe to this Channel with notifications turn on so that you don't miss out on any of these important update videos and once again I took this trade right here just the other day over on my buybit account so I'll make sure to leave a link to buybit below this video in the description and in the pinned comment and if you use that link below this video to make your buyit account you can get a 30,000 usdd deposit bonus and only if you use that link below this video you can get an exclusive 500 usdt position airdrop so basically a free $500 trade as your first trade over on buybit but that's only available if you use that link below this video to make your buybit account and deposit on that account but for whatever reason if you cannot access buybit or if you cannot kyc on buybit there's also BX which is another crypto exchange similar to bybit but you don't need kyc for bonex which means if you're in the US or the UK for example or another country where you might not be able to access bybit you can access bonex I'll also leave a link to bonex below this video and if you use that link to make your account you can get a 5.

5k USD deposit bonus and only if you use that link you can get an exclusive 10% discount on all trading fees on the bonex exchange forever but that is only available if you use the link below this video to make your bonex account and now if we're taking a look at this bitcoin price chart on the 4-Hour time frame obviously as I said over the last couple of days here we broke out towards the upside from this symmetrical triangle pattern and head immediately towards this price Target right here which was sitting at approximately 105 12,000 so just underneath 106k and we made it all the way up towards just underneath 105k before obviously finding some short-term resistance around there but even though the price of Bitcoin did not fully hit that price Target right here technically speaking this breakout in this price Target is now currently invalid because obviously over the last one day we saw that flash crash to the downside and broke back below the point of the breakout with that massive candle wick to the downside and actually saw just one candle close below this previous line of resistance invalidating that breakout and invalidating this price pattern and potentially another reason as to why we saw this scar candle here in the short term was due to the fact that we had the Bitcoin liquidation heat map first of all showing a lot of liquidity to the upside immediately above 100,000 as we can see so first of all as we broke out above 100K that wiped out a bunch of short positions billions of dollars of positions over the last 48 hours got liquidated first of all we saw a short squeeze pushing the price much higher thousands and thousands of dollars towards the upside within a matter of minutes and hours but then as you can see here in the Bitcoin liquidation hit map we started to actually run out of liquidity to the upside and as the price of Bitcoin liquidated all of those short positions in this price range in between around 98,000 to 102 12,000 as we started to run out of liquidity to the upside the price started to turn around because the funding rates were incredibly overheated which I'll talk about in just a moment but essentially when we run out of liquidity to the upside that's essentially like running out of fuel during the rocket launch basically we had nowhere else to go other than see a bit of a pullback here so that's exactly what we saw as you can see we came back down towards this downside liquidity and actually liquidated a bunch of long positions we wiped out a bunch of long positions in this area on the price chart at around 92k to 93 1/2k approximately but obviously if you followed my last Bitcoin video and you had your stop loss at break even or ideally a stop loss in profits obviously you would not have got it liquidated at all you would have closed the trade automatically in profits if you followed my trading strategy and as I just said of course the funding rates recently got very overheated and I did talk about that in my last altcoin video talking about the chain link funding rates being very very high right now and really the overall Market the funding rates were very high and right now the funding rates is still currently well above neutral because the neutral rate is 0. 01% but obviously over the last one day with that quick flash crash wiping out a bunch of long positions that did ultimately help to reduce the funding rates which is healthy for the larger bull market because if we're seeing funding rates anywhere near like 0.