WHAT JUST HAPPENED?! (Next Price Target)!! Bitcoin News Today & Ethereum Price Prediction (BTC, ETH)

Introduction

In this section, the speaker introduces himself and talks about how both Ethereum and Bitcoin are pulling back into areas of support after getting a rejection from resistance.

Bitcoin Daily Chart

• Bitcoin is experiencing another rejection from the line of resistance which was previous support.

• 27.5K is still the importance level of resistance to pay attention to at least in the somewhat shorter term here.

• If we end up seeing a confirmed breakout back above 27.5 thousand then that essentially invalidates this bearish signal and could help confirm the continuation of this larger multi-month long bullish trend that we have been seeing since November last year.

Daily Bitcoin Price Oscillators

• The daily RSI is pretty much chopping around sideways while the daily Bitcoin MACD is getting very close to a bullish cross but we haven't seen that bullish cross confirm as of right now.

• This is currently showing very low momentum on The Daily time frame which is quite neutral for the price action.

Eight Hour Bitcoin Chart

• We still have this symmetrical triangle pattern and this bearish price targets at around 24.1 K which is technically still in play because we have not yet seen a confirmed breakout back above 27.5 K which once again is the point of invalidation for this price target at this pattern.

• Just in the imminent short-term heat on the four-hour time frame obviously for pretty much around a week now, the price has been looking very neutral because if you're looking at momentum-based indicators and these price oscillators, we can see that there's very low momentum as of right now.

Short-Term Outlook

In this section, the speaker talks about how traders can make profit during choppy sideways price ranges like what's happening with Bitcoin at the moment.

Short-Term Outlook

• The price of Bitcoin at the moment is simply in a choppy sideways price range.

• This sideways price range is in between support and resistance.

• For Traders out there, you can make a lot of profit quite easily during a choppy sideways price range just like this.

Conclusion

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Limited-Time Bonus

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Ethereum Price Analysis

The daily Ethereum chart is currently retesting an area of support between 1770 to 1820. This comes after a small bounce from this area of support over the last day or so. The recent bounce has confirmed a bullish cross in the daily Ethereum MACD, but low momentum suggests neutral price action.

Short-term Neutral Price Action

• Low momentum in the daily Ethereum MACD and RSI suggest choppy sideways price action.

• Short-term bearish or neutral price action can occur within a larger multi-month long bullish trend.

• To invalidate the larger trend, significant lower highs and lower lows are needed on the daily timeframe, breaking below important areas of support.

Shorter-term Bullish Signal Potential

• On the four-hour ETH/USD chart, there was a breakout to the upside followed by a cool off and retest of previous resistance to potentially flip it into new support at around 1.8k. A strong bounce from this level would be a shorter-term bullish signal pointing towards a change in price chart structure flipping more bullish than bearish if talking about trend and momentum in imminent short term.

• However, as of right now, there is not yet enough confirmation for this retest, making it currently a critical moment for the price of ETH when talking about short-term trend and momentum.

Technical Indicators

• Daily Ethereum MACD shows low momentum with histogram dropping back down despite recent bullish cross confirming one daily candle close.

• Daily Ethereum RSI needs further confirmation such as higher heights and higher lows to be more confident that bullish momentum is returning on the daily timeframe.

Ethereum Technical Analysis

In this section, the speaker discusses the technical analysis of Ethereum and its momentum.

RSI Reset and Momentum

• The RSI has reset towards more neutral levels, giving the price some room back to the upside.

• However, there is still an area of resistance that cannot be ignored.

• Looking at the four-hour Ethereum MACD, it is relatively flat with low momentum in either direction in the short term.

• Expect choppy sideways price action for at least the next one to two days.

Making Money During Sideways Price Range

• Check out either one of these videos popping up on your screen:

• The video in the top left shows how to make money automatically using artificial intelligence.

• The video in the bottom left is a simple method to make money during a choppy sideways price range.

Timestamps have been used wherever possible to help others study the transcript.