BITCOIN WARNING SIGNAL STILL ACTIVE (for now)!!! - Bitcoin News Today, Ethereum & Altcoins

0:00Welcome back to the Good Wealth channel,

0:01everyone. My name is Josh, and right now

0:02Bitcoin is still playing out this

0:03shorter-term warning signal, simply

0:06cooling off in the short term in the

0:07price, while we are seeing new liquidity

0:10building just below the price of Bitcoin

0:13in the Bitcoin liquidation heat map in

0:14the imminent short term, which is

0:16something that we need to pay attention

0:18to. So, I'll be talking about that in

0:19just a moment, alongside other important

0:22Bitcoin signals, while we are seeing

0:24Ethereum continue to struggle around

0:26this important resistance here, but not

0:28necessarily see a harsh rejection, still

0:31hanging close to the resistance, while

0:32the price of Chainlink is also now

0:34cooling off a little bit in the shorter

0:36term after the latest breakout towards

0:38the upside, but technically still

0:40maintaining the bullish price structure.

0:42So, I'll be talking about all of that

0:44and more later in the video, so

0:45definitely watch till the end.

0:48First of all, starting off on the weekly

0:49Bitcoin price chart, and as I've been

0:51talking about in my last video here on

0:53the channel, the Supertrend indicator

0:54just officially confirmed a flip back

0:57into green, so back into bullish

0:59direction for the first time, basically

1:01from red to green. This is the first

1:03time that this has happened since almost

1:064 years ago, the end of the 2022 bear

1:08market, beginning of 2023. So, in

1:11basically around 3 months from now, that

1:13will have been 4 years ago, so over 3

1:16and 1/2 years ago, almost 4 years ago is

1:18when we saw this signal right here

1:21confirm last time, and of course, that

1:23basically signaled a larger bullish

1:25trend or bull market to come over a

1:28longer-term time period for the price of

1:30Bitcoin. But, as I also made clear in my

1:32last video and many videos here on the

1:34channel, of course, if you're looking at

1:36the weekly timeframe, this is talking

1:37about longer-term moves, talking about

1:39potentially months or years for the

1:42price of Bitcoin, and it's not a

1:43short-term signal. So, of course, we can

1:45still see short-term pullbacks,

1:47short-term cool-offs here and there on

1:49smaller timeframes as we're playing out

1:52the much larger bullish trend, just like

1:54how during, of course, a larger bearish

1:56trend or bear market, we can see some

1:58decent bounces back towards the upside

1:59in the shorter term along the way

2:01towards the downside in the larger

2:03trend. And so, that is still the

2:05situation on the weekly time frame, and

2:07if we're taking a look at this weekly

2:08Bitcoin price chart, we still have a

2:10massive bullish divergence technically

2:12still confirmed, as I've been saying

2:13every day for months now on the channel,

2:15for over 2 months at this stage, since

2:17around end of June basically, this has

2:21been confirmed, as I've been saying

2:22every day since back then. And of

2:24course, the last time we saw a signal

2:26like this on the weekly Bitcoin price

2:28chart, a significant bullish divergence,

2:29was the end of the 2022 bear market, one

2:33of the generational buying opportunities

2:35in recent Bitcoin history for especially

2:37long-term spot holders of Bitcoin. And

2:40so, once again, as always, no

2:41guarantees, not financial advice, but

2:43typically for long-term holders, this

2:45tends to be a decent signal to watch out

2:48for for the price of Bitcoin, especially

2:50now that not only do we have the

2:51significant bullish divergence actively

2:53playing out, we also have this bullish

2:55flip in the Supertrend indicator. The

2:57last time these two signals happened

2:59together marked the beginning of the

3:01next multi-year bull market. That was

3:03the last time these two signals happened

3:06at the same time, which is what is

3:07happening right now. So, just be aware

3:09of that. And if we're taking a look at

3:10the 3-day Bitcoin price chart, of

3:12course, looking at the somewhat shorter

3:14term here, we're still struggling around

3:16this exact area of resistance in between

3:19$80,000 to $82,000. So, once again, the

3:22price is not going to move in a straight

3:24line. We're going to see likely

3:26struggles and possible rejections from

3:28around points of resistance along the

3:30way towards the upside. And so, this is

3:32simply another one of those short-term

3:34obstacles for the price of Bitcoin, an

3:36area of resistance to watch out for

3:37where the price will likely struggle

3:39from or possibly reject from. And once

3:41again, that's in between $80,000 to

3:44$82,000, the same area that I've been

3:46warning about since basically before we

3:48perfectly started the struggle in that

3:50area. And as for support, I would expect

3:52a lot of support down here if the price

3:55were to get back down there, which is

3:56sitting in between around 73,000 to

3:5975,000. And if we're taking a look at

4:01the daily Bitcoin price chart, of

4:02course, another reason as to why we're

4:04seeing a bit of a short-term cool-off on

4:06top of the fact that we're running into

4:08my exact area of resistance here is also

4:11due to the fact that we're actively

4:12playing out a somewhat shorter-term

4:15bearish divergence. Obviously, it's not

4:16as significant as the bullish divergence

4:19on the weekly time frame. Once again,

4:20understand between the different time

4:22frames. This larger bullish divergence

4:24on the weekly time frame is a

4:26longer-term signal talking about

4:27potentially months or years, whereas

4:29this somewhat shorter-term bearish

4:31divergence on the daily time frame is

4:33talking about over days or weeks. Likely

4:36going to be a bit more of a cool-off,

4:38play out a bit more of a cool-off,

4:39either a slight pullback or some choppy

4:41sideways price action in the coming days

4:43or possibly maybe one or two weeks, that

4:45sort of time frame. And once again, this

4:47is exactly what I've already been saying

4:49over the last multiple days here. Even

4:51though it yes, we're seeing some bullish

4:52signals flipping and confirming here on

4:54the weekly time frame, we still have to

4:56be aware of short-term cool-offs and

4:57short-term pullbacks along the way,

4:59especially as we run into important

5:01resistance, and especially if that's

5:03happening while we're basically hitting

5:05overbought or flashing a bearish

5:06divergence. These are the signals to

5:08watch out for to help to predict or

5:10potentially influence a cool-off coming

5:13soon. And so, that is simply the

5:15situation right now. And if we're

5:17zooming further into the shorter term,

5:18we could see that short-term cool-off

5:20very nicely here. Obviously, we hit

5:22overbought with a very small short

5:23squeeze right here, roughly just close

5:26to a week ago, half a week ago to almost

5:281 week ago now as we can see. And then

5:30ever since then, obviously, we've just

5:31been cooling off as expected. Obviously,

5:34my expectation every single day since

5:36then was a bit of a short-term cool-off,

5:38and that's still my expectation right

5:40now, at least over the next 1 or 2 days.

5:42It could possibly continue into the

5:44week, further into the week, so perhaps

5:46over the next week or so, we could see a

5:48bit more of a cool off, but at least

5:50over the next few days, I expect either

5:52a slight pullback in the price or

5:54potentially just a bit of choppy

5:55sideways price action. Overall, not

5:57necessarily a huge crash back down like

5:59this, but just a bit of short-term

6:01weakness lacking bullish momentum at

6:04least for the next couple of days or so

6:05is very, very likely. And if we're

6:07taking a look at the Bitcoin liquidation

6:09heat map, looking at the last 1 week

6:11worth of price action, first of all,

6:13getting the upside liquidity out of the

6:15way, we do have a small amount at around

6:1780.6k

6:19and a small amount at around 82.3 to

6:2182.5k,

6:23but really the main levels of liquidity

6:25are actually below the price of Bitcoin

6:27here in the shorter term. So, first of

6:28all, we have a significant level of

6:30liquidity down here at around 76.1k

6:34and right now we have a new level of

6:35liquidity forming right here at around

6:3978.3k.

6:41And so, this chart basically tells us

6:43the high probability target targets for

6:45the price of Bitcoin, especially where

6:47there is significant liquidity. Usually,

6:50not always, but usually the price of

6:52Bitcoin tends to take out these

6:53significant levels of liquidity,

6:55especially if they're relatively close

6:57to the current price of Bitcoin, and

6:58especially if they're in the direction

7:00that the price is already heading in,

7:02which the shorter term, talking about

7:04days or maybe a week, that sort of time

7:06frame is technically more bearish than

7:08bullish. Once again, not extremely

7:10bearish, not a huge crash, but just

7:11cooling off in the shorter term at least

7:13for the coming days, still quite likely.

7:15So, we have to watch out for the

7:16downside liquidity in the coming days.

7:18Once again, the immediate target is now

7:2078.3k,

7:22but if we break below that level right

7:24there, then the next target to watch out

7:26for will be sitting at around 76.1k,

7:30which is basically just below this local

7:33low here. So, be aware of that. That's a

7:35possible short-term risk, just a slight

7:37cool off or slight pullback continuing

7:39in the coming days, but remember that

7:42can occur during a much larger bullish

7:45trend on the much larger time frames,

7:47talking about months or years to come.

7:49And so, those are my expectations and

7:51predictions in the short-term, mid-term,

7:52and longer-term. And of course, the key

7:54signals, price targets, and patterns to

7:56watch out for for the price of Bitcoin

7:58right now. And of course, if you want to

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9:10KYC exchange. But with that being said,

9:12taking a quick look at the Bitcoin

9:14dominance chart on the 3-day time frame.

9:16And right now, the Bitcoin dominance is

9:18still having just a slight rejection, a

9:20slight short-term pullback from very

9:22close to this resistance here. But

9:24overall, we're still in a significant

9:26sideways price range that we've been in

9:28for almost a year as we can see since

9:30basically October last year, we've been

9:33in this same sideways price range

9:34bouncing between support and resistance.

9:37And so, overall, we're not really seeing

9:39a significant Bitcoin season or a

9:41significant altcoin season. We're just

9:43seeing shorter-term movements here and

9:45there where sometimes Bitcoin slightly

9:47outperforms and then sometimes altcoins

9:49slightly outperform. And right now in

9:51the shorter term, and especially over

9:52the last couple of days, altcoins have

9:55been slightly outperforming with the

9:57slight drop here in the Bitcoin

9:59dominance. So, if that continues a

10:00little longer in the shorter term, it

10:02just means some altcoins out there could

10:04hold up or likely going to hold up a

10:06little bit better than what Bitcoin is

10:08doing. So, as Bitcoin continues a slight

10:10cool off, some altcoins might just go

10:11sideways, maybe even have a slight

10:14little bounce if we see a further

10:16pullback here in the Bitcoin dominance.

10:18And if we're taking a look at Ethereum

10:19on the 3-day time frame, technically,

10:21despite the slowdown in the shorter

10:23term, the cool off, which is to be

10:25expected, of course, with this

10:26overbought signal alongside Bitcoin also

10:28cooling off, but despite that happening

10:30right now for Ethereum in the shorter

10:32term, technically, this bullish breakout

10:34and the bullish price structure is still

10:37active here on the 3-day Ethereum price

10:39chart. And so, perhaps after a little

10:41more of a short-term cool off, either

10:43some choppy sideways price action or

10:44very slight pullback within the coming

10:46days or possibly 1 to maybe 2 weeks,

10:49that sort of time frame, but at least

10:50the next few days continuing a slight

10:52little cool off here, but for as long as

10:54we're holding above this area in between

10:56ideally around 2.3k to 2.4k, for as long

10:59as we're holding above that area, in

11:01that situation, of course, this bullish

11:02breakout remains active, technically

11:04speaking, with the next significant

11:06target or point of resistance to watch

11:08out for in between around 2750 to 2.8k.

11:12And if we're zooming into the 12-hour

11:13Ethereum price chart, we have a clear

11:16horizontal level of resistance here

11:18where we've seen multiple almost perfect

11:20rejections from this exact level here,

11:23and that's sitting at just above 2 and

11:241/2 thousand, so around 2520 to 2530,

11:28give or take. We have a lot of

11:30resistance around there, as we can see.

11:32But, the good news is so far as we're

11:35testing this resistance, we're not

11:36really seeing any significant rejections

11:38or major crashes back to the downside

11:41from this significant resistance here in

11:43the shorter term. So far, we're just

11:44seeing slight rejections, obviously more

11:47struggle, but just slight rejections

11:49from this resistance before ultimately

11:50coming back up for another test of the

11:52resistance, which is some good news

11:54because usually the further the price or

11:57the more the price tests a point of

11:59resistance, the weaker that resistance

12:02gets. And the fundamentals behind that

12:04is you can think of resistance is

12:05basically a bunch of sell orders, a

12:07bunch of traders out there placing sell

12:09orders at a particular level on the

12:11price chart, which makes it difficult

12:13for the price to push above that because

12:15we basically need a bunch of buyers to

12:16buy up all of the sell orders. But, if

12:19the price is continuing to test that

12:21resistance, what that fundamentally is,

12:23it's basically buyers continuing to buy

12:26up all of the sell orders at that level,

12:28and eventually we can dry up or use up

12:30all of those sell orders once there's

12:32enough buyers ultimately testing this

12:33resistance, and then we can see a break

12:35through that resistance. That's what the

12:37fundamentals are when it comes to

12:39testing the resistance multiple times,

12:41which can weaken the resistance,

12:43increasing the probability of a

12:44breakout. But, while Bitcoin is having a

12:46slight cool off here, potentially in the

12:48next 1 to 2 days continuing here, we

12:50could likely see a bit more struggle for

12:53Ethereum just in the very short term

12:54here, and then eventually break out

12:56perhaps in a couple of days from now.

12:58For example, if Bitcoin can have a

13:00slight little bounce, that can help

13:01Ethereum and other altcoins also

13:03potentially break out or have a slight

13:05bounce here in the shorter term. But, we

13:06also have a possible warning signal to

13:08watch out for, as I mentioned in my last

13:10video, if Ethereum eventually breaks out

13:12here above this resistance at around

13:142520, 2530, in that situation, even

13:17though yes, that would be technically a

13:19bullish signal if we're looking at the

13:20price action alone, of course, that

13:22would likely form a bearish divergence

13:25between the price and the RSI because we

13:27could obviously very easily form higher

13:29highs in the price, meanwhile it's

13:31extremely likely that the RSI will still

13:34be forming lower highs, sitting in lower

13:36highs compared to this previous high

13:37that we saw around the 21st of August.

13:40And so basically expect a little more

13:42struggle in the shorter term and then

13:43likely at some stage perhaps in the

13:46coming days and maybe two or three days,

13:48at some stage an attempted breakout

13:49here, but then it possibly forming a

13:51bearish divergence within the next one

13:53to two weeks here on the 12-hour and the

13:55daily Ethereum price chart. So those are

13:57my exact predictions across the

13:59different time frames, short-term,

14:00mid-term and longer term and of course

14:02the much larger price structure still

14:04remaining bullish despite what happens

14:05in the shorter term moves here. And if

14:07we're taking a look at XRP on the weekly

14:09time frame, right now XRP is still

14:11holding this important area of support

14:13here in between around $1.30 to $1.40,

14:16especially that $1.30 level. That is a

14:18key level of support to watch out for

14:20and if we're taking a look at the daily

14:22XRP price chart, obviously while Bitcoin

14:24is just having a slight cool off, XRP is

14:26simply just bouncing around sideways at

14:29least here in the short term, which is

14:30likely going to continue a little longer

14:32considering obviously what I said for

14:34Bitcoin, likely going to continue a

14:36little more of a cool off and also

14:38considering the slight pullback here in

14:40the short term in the Bitcoin dominance,

14:41meaning some all coins like XRP for

14:44example can hold up just a little bit

14:46better than what Bitcoin is doing. So as

14:47Bitcoin is having a slight pullback, XRP

14:50could likely just bounce around sideways

14:53rather than necessarily pulling back.

14:55And as for support and resistance, we

14:57still have a lot of support around here

14:59just above $1.30, especially around

15:01$1.34. We have a key level of support

15:04there and as for resistance, we have a

15:06lot of resistance around $1.47

15:09and $1.52.

15:11And if we're taking a look at Solana on

15:13the 3-day time frame, right now Solana

15:15technically around a day ago as I talked

15:17about in my last video, we just

15:19confirmed one 3-day candle close

15:21slightly above that $105 resistance

15:24level, but so far we're seeing a test

15:27back into that area of resistance, the

15:28previous resistance here, and ideally we

15:31need to hold at this area as support.

15:33If, for example, the price starts

15:34breaking back below, especially $95, in

15:37that situation, if we see especially

15:39daily candle closes or three-day candle

15:41closes back below 95, of course that

15:43would be a decent bearish signal to

15:45watch out for in the shorter term, but

15:47right now that has simply not happened.

15:49The larger structure is still

15:51technically bullish despite seeing

15:52short-term cool-offs resetting from

15:54overbought, etc. Obviously, we're still

15:57playing out the larger bullish

15:58divergence on the three-day Solana price

16:00chart. We're still seeing significant

16:01higher lows and significant higher highs

16:04despite any short-term cool-off that we

16:06might see along the way. And as for

16:08short-term support to watch out for, now

16:10that we're seeing a little more of a

16:11cool-off, if this slight pullback

16:13continues, I'd expect a lot of support

16:15in this area in between $96 to $99 based

16:20on previous significant resistance,

16:21which has already confirmed a flip back

16:24into support. And so, considering my

16:26prediction for Bitcoin being a little

16:28more of a cool-off, but also with the

16:29Bitcoin dominance having a slight

16:30pullback, it means Solana and likely

16:33many other major altcoins out there on

16:34average will likely play out potentially

16:37just some choppy sideways price action

16:38as we're still cooling off, lacking

16:40bullish momentum in the shorter term,

16:42but in the case of Solana here, likely

16:44still holding above this area of support

16:46at least over the coming days. And if

16:48we're taking a look at the price of

16:50Chainlink on the three-day time frame,

16:51it's a similar situation for Chainlink.

16:53Obviously, we still have larger bullish

16:55price structure, higher lows, higher

16:57highs, breaking out above previous

16:59significant resistance levels. So,

17:01overall, the much larger trend, the

17:02larger momentum, the larger price

17:04structure still clearly bullish, but of

17:06course, it's not a straight line. We can

17:08see little pullbacks and short-term

17:10cool-offs along the way, and that's

17:12simply what we're seeing right now. We

17:13hit further into overbought on the

17:16three-day Chainlink RSI, as we can see.

17:19And so, this is a signal by itself

17:21telling us that we've kind of just gone

17:22too far to the upside too quickly in the

17:24shorter term, and we need some time in

17:26the coming days just to cool off and

17:28reset in the shorter term. But, also

17:30when you combine that overbought signal

17:32again for Chainlink with what my

17:34expectations are for Bitcoin and other

17:36altcoins just cooling off a little bit

17:37in the shorter term, it's no surprise

17:39that we're going to see just a slight

17:41cool off in the shorter term for

17:42Chainlink. Remember, I'm not saying a

17:44huge crash, but maybe just a slight

17:46pullback or some choppy sideways price

17:47action, potentially retest of this

17:49previous resistance here, which was also

17:51support all the way back here. That's in

17:53between around 1180 to 1230, and I would

17:56now expect support in that area once

17:58again in between 1180 to 1230. So, I'd

18:01give or take $12. That is a key level

18:04for the price of Chainlink to hold in

18:05order to ideally remain bullish here in

18:08terms of the larger trend. And the next

18:10significant point of resistance to the

18:11upside is sitting at around 1410 to 1430

18:16based on previous significant

18:18resistance, likely still acting as

18:19strong resistance for the price of

18:21Chainlink. So, overall, those my

18:23expectations in the shorter term, the

18:24mid-term, and the longer term. And of

18:26course, the key signals, levels, and

18:28price targets to watch out for moving

18:29forward for all of these crypto assets.

18:31And remember, if you want to trade any

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19:07But, anyway, that is everything that I

19:08have to say for today. I really hope you

19:10enjoyed, and I'll see you all in the

19:11next video.