.main-navigation { background: #1b1b1b; } .main-navigation .menu li a button { line-height: 0px; } span.header-after:after , .exclusive-now { background: #f17002; } .menu-item a:hover { text-decoration-color :#ff4000; color: #FFC100; } .menu-item a:active { color: #ff4000; } .masthead-banner { margin-top:7px; padding-bottom:10px; } .dark a div { overflow: hidden !important; } .saboxplugin-icon-grey { display:none; } .saboxplugin-wrap { display:none; } article.af-single-article .entry-content { padding: 1em 1em; } .cmc_search { width: 240px; } a.button, a.button:visited { background-color: #FF8C00; color: white; padding: 15px; text-align: center; text-decoration: none; display: inline-block; } a.button:hover, a.button:active { background-color: #FF6A00; }

GET READY FOR THIS BITCOIN MOVE!!! Bitcoin News Today & Bitcoin Price Prediction after Bitcoin Crash

Read MoreWelcome back to the crypto budget everyone my name is josh and let's get straight into the video this right here is the 12 hour bitcoin chart and first of all the parabolic stop reverse indicator is still sitting in the red which is technically a bearish signal but keep in mind bitcoin is still forming these bullish diversions because.

Of course we're seeing lower lows in the price but higher lows in the 12 hour bitcoin rsi so once again that is a bullish divergence which simply reveals a lack in bearish momentum at the moment compared to back here for example and that can also be backed up by what we're seeing in the 12-hour bitcoin macd because right now we're seeing almost no.

Momentum at all which is why recently for the most part the bitcoin price has pretty much just been chopping around rather than being looking overly bearish or overly bullish because of the fact that we are currently seeing a lack in momentum in the shorter term bearish trends and what is really interesting about this bullish divergence is the.

Fact that it is now visible up to the daily bitcoin chart the daily time frame and technically speaking the larger the time frame the more significant the signal or the more significance of the pattern so the fact that this bullish divergence is now visible all the way up to the daily time frame this is giving greater significance to this pattern.

Rather than just the other day it was only visible in a 12-hour time frame and only just back here when we had these two lower lows we had a smaller bullish divergence that was only visible on the six hour chart so that bullish divergence did not last as long because it was only on a smaller time frame and while bitcoin is technically forming.

This bullish divergence we are running into a significant level of support which is of course the golden pocket when you're drawing the fibonacci retracement tool from the january low up to the local high this places the golden pockets at around 37 to 38 000 per bitcoin and at the time of recording this video the bitcoin price is finding.

Some support at that golden pocket which is good to see because if the bitcoin price confirms a break below around 37 000 then in that scenario that would significantly increase the chances of the bitcoin price falling lower towards that january low at around 33 000 as our next significant level of support below 37 000 so for the time being it's.

Important to keep an eye on that golden pocket that i just mentioned but this range of support at around 37 to 38k isn't only important because of the golden pockets it is also important if you're looking right here in the vp vr indicator on the daily time frame because we have a massive cluster of volume coming into play at around 37 to.

38 000 per bitcoin and technically speaking these clusters of volume in this indicator act as support if they are below the price and obviously act as resistance if they are above the price so according to this indicator on this time frame once again we have strong support at around 37 to 38 000 but we also have strong resistance kicking in.

At around 41k going up towards around 43 000 approximately and over here in the daily bitcoin macd right now it is technically still bearish and it's still sitting in the red but if you're looking at the histogram within the macd indicator at the moment it has been sitting pretty flat which once again reveals a lack in bearish momentum at.

The moment in the shorter term downtrend and while we're on the daily bitcoin chart of course it is important to discuss this bitcoin chart right here because the bitcoin price with the recent daily kettle close has now officially confirmed a bearish break of this opportunity line of support which was coming in at around 39 and a half.

Thousand approximately so technically speaking if you're talking about this larger price structure that we've seen over the past few months this is really the most significant bearish signal that we have seen over the past few months when you're talking about this uptrend on the daily time frame because technically speaking this break to the.

Downside does tell us that this larger price structure is starting to move a little bit more bearish but as i've mentioned multiple times in this video we still have that significant range of support at around 37 to 38 000 and while the bitcoin price is technically holding that range of support right now we have not formed a new lower low on the larger.

Time frames because this previous low in the bitcoin price during march is coming in at around 37 and a half thousand so once again it is very important for the bitcoin price to remain above around 37 000 in order to maintain higher lows on the daily time frame and now taking a look at one of the best bitcoin indicators which is of course the us.

Stock market this right here is the nasdaq 100 index on the daily time frame and so far at the time of recording this video the nasdaq 100 index is still holding that line of supports which is coming into play at around 13 000 and that's pretty much exactly where these previous lows are coming into play which is why this is a very important level of.

Support for the nasdaq 100 index to hold above and in order to confirm a break below this level of support we need to see at least a daily candle close below 13 000 which as of right now has not happened but unfortunately the rsi is not looking too good because obviously we've already seen a breakdown in the daily rsi and quite often the rsi can be.

A leading indicator for the price action but then again this is just one indicator out of many so it's better to wait and see whether or not the nasdaq 100 index will break that line of support with a daily candle close so right now it is just a waiting game to wait for some confirmation here of either a breakdown or a further bounce.

And of course the reason why this is very important for bitcoin is because let's just say if the nasdaq 100 index breaks down here then in that scenario it could be very likely that the bitcoin price might break that 37k level of support but in the more bullish scenario if the nasdaq 100 index holds that level of support and sees a bit more of a.

Bounce here then that would significantly increase the chances of the bitcoin price bouncing back to the upside and over here in the s p 500 index on the daily timeframe we're basically seeing the exact same thing that i just talked about for the nasdaq 100 index and if you want to get extra bitcoin content and updates throughout.

The day make sure to follow me over on my twitter and the link to my twitter is in the description down below and also in the pinned comment but anyway if you found this video useful or simply enjoy 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 before we click off if you want to know how to maximize your profits in crypto whether or not prices going up down or sideways then these two videos popping up right here on your screen are definitely for you to watch but anyway that is it for this update i really hope you enjoyed it and i'll see you all in.

The next video

Leave a Reply

Your email address will not be published.

Subscribe To The Latest Crypto News

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

World Wide Crypto will use the information you provide on this form to be in touch with you and to provide updates and marketing.