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CRYPTO MARKET REVERSAL ON THE WAY?? Bitcoin News Today, Bitcoin Price Prediction after Bitcoin Crash

Read MoreWelcome back to the good to watch channel everyone my name is josh and right now the bitcoin rsi on the daily time frame is breaking out to the upside at the same time as the bitcoin price breaking this level of resistance on the four-hour chart this level of resistance was coming in at around 42 and a half thousand and so far at the time of.

Recording this video bitcoin has seen one four hour candle close above that line of resistance which is technically a bullish signal and obviously if you're looking at the shorter term trend we're still clearly in these bullish trends because the bitcoin price on the four-hour chart is still forming higher lows and higher highs and out of.

Everything on this four-hour bitcoin chart there's only one possible bearish signal which is the fact that the four-hour bitcoin rsi is getting close to overbought territories but other than that we have a lot of other bullish signals on this four-hour bitcoin chart right now and when you zoom out to the 12-hour bitcoin chart of course the.

Powerable x stop reverse indicator is still sitting in the green which is a bullish signal and after seeing the slight pullback yesterday in the 12-hour bitcoin rsi and the 12-hour bitcoin macd with this recent bullish move following the short-term bullish trend that has also sustained the bullish trend in both the rsi and the macd as well which means.

All three of these indicators on the 12-hour bitcoin chart are technically still pointing in the bullish direction and in case you are new to this channel the last couple times that happened was late february and late january this year and obviously you can see the following bitcoin price action that came next but of course all of that is still talking.

About the somewhat shorter term as in days and weeks if you're talking about the much larger moves in the bitcoin price we need to break above 45 to 46 000 in order to confirm a larger bullish move and in the bearish scenario before we can expect any more major bearish price action first the price of bitcoin must break below this line of support.

Which is coming in at around 38 000 approximately so at the time of recording this video currently we have not seen a break to the upside or to the downside just yet but if you're looking in the daily bitcoin rsi only just today we're finally starting to see a breakout to the upside out of this symmetrical triangle pattern in the rso but i want.

To make it clear that we need to see at least a daily candle close in order to confirm that rsi to cement it into place and if you're paying attention to the daily bitcoin macd we're starting to trend much more bullish here because if you look at the red in the histogram you can see that the bearish momentum is getting weaker and weaker whereas.

Recently over the past one week we've seen some sustained bullish momentum that has lasted longer than these previous bullish moves so that shows us that the bitcoin bulls are growing stronger and the bitcoin bears are growing weaker but even though these bullish signals in the macd and the rsi could turn out to be leading indicators.

For the bitcoin price like i said earlier we really need to wait for a break above 45 to 46 000 in order to confirm much more bullish price action and when you zoom out to the three-day bitcoin charts and bring out the bollinger bands indicator right now we're seeing a major squeeze in the bollinger bands which normally happens.

At either a major turning point in the market or a major point of inflection a couple examples of this happening was back in july 2020 also back in october 2020 and then we saw our next major squeeze just before the may crash last year and then we saw another squeeze during july just before the major reversal back to the upside and then.

Another squeeze during december 2021 just as the bitcoin price started to reverse back to the downside again so this recent squeeze in the bollinger bands tells us that a massive move is coming sometime soon and if the bitcoin price is trading within the top half of the bullet bins so basically for as long as the bitcoin price is remaining above.

Around 40 000 then the chances of the next major move in the market being a bullish move increases while the bitcoin price is in the top half of the bollinger bands and while we're on the three-day bitcoin chart looking in the rsi and the macd technically speaking they are both bullish and if you simply take a look at the last couple times.

Where we saw a major reversal in the bitcoin three-day rsi as well as seeing a bullish cross in the three-day bitcoin macd we saw that happen back during the middle of last year specifically in around july and the time before that was back during april 2020 just after that massive crash during march 2020 and obviously you can see for yourself how.

Those bullish signals played out in the bitcoin price and we are currently seeing a very similar thing right now and now taking a quick look at the total crypto market cap which is right now sitting close to 1.9 trillion us dollars and currently we're potentially looking at a breakout to the upside above this line of resistance which is coming into.

Play at around 1.88 trillion us dollars so if the total crypto market cap does end up confirming a breakout to the upside here then obviously that would be bullish for bitcoin and a lot of old coins out there as well the total crypto market and even if you look outside of the crypto market over to the stock market this right here is the s p 500.

Index and so far over the past one week we've seen a massive recovery so far and obviously for those of you that have been watching my videos over the past few weeks we were expecting some bullish price action after seeing this massive bullish divergence and also seeing a major breakout in the daily rsi for the s p 500 index and even outside of the.

Charts we're seeing a lot of bullish factors right now such as a massive amount of fee in the market and a lot of investors already pricing in rising interest rates because we already know that that is coming and that is exactly why the stock market pumped last wednesday even though the fed announced the first interest rate hike in years.

Which is technically a bearish signal because of the fact that everyone has already known for months now that that was going to be happening during march the fact that it did end up happening as everyone expected that simply removed some uncertainty out of the markets and anytime you remove uncertainty out of the market that is bullish for investors.

It gives investors more confidence so this time in the stock market specifically during january and february we're seeing a lot of uncertainty around rising interest rates and the conflict over in europe but because everyone already knows that is the case right now a lot of that already got priced into the market and once again the pump last.

Wednesday proves that a lot of that was already priced into the markets and in case you are new to this channel if the stock market sees a major recovery back to the upside then that would really help assist bitcoin in seeing a major bullish recovery so it is definitely a good sign for crypto investors that the stock market is moving back up but.

Anyway if you found this video useful or simply enjoyed this please make sure to leave a like down below and if you're new to the channel you might as well subscribe with notifications turn on for more updates just like this every single day and if you want to make more money in crypto whether or not prices are going up or down then these two videos.

Popping up right here are definitely for you but anyway that is it for this update i really hope you enjoyed and i'll see you all in the next video

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