📝 Video Summary
Market Overview
Josh is bullish on the crypto market, particularly Bitcoin, and expects further bullish price action in the short term. He's taking profits on his Bitcoin long positions but remains overall long. He highlights the importance of the Bitcoin dominance pullback, which is positive for altcoins. The funding rates are negative, which he considers a bullish signal (classic short squeeze).
Bitcoin Analysis
Weekly Chart
- Key Point: Still within a larger bull market, but with a bearish divergence to watch out for.
- Insight: The market is cooling off, but still in a bull market.
3-Day Chart
- Key Point: Moving closer to a bullish crossover in the MACD, indicating short-term bullish momentum.
- Insight: Expecting short-term bullish relief.
Daily Chart
- Key Point: Bearish divergence has played out. Bounced from support between $106.7K to $107.6K.
- Key Levels:
- Support: $113K - $113.5K (if pullback)
- Resistance: $117K (potential for rejection)
- Next Target: $120K (if breaks $117K)
- All-Time High: $124K (if breaks $120K)
- Insight: Breaking above $113.5K is a bullish sign.
4-Hour Chart
- Key Point: Short-term bullish trend confirmed with higher lows and highs.
- Key Levels:
- Resistance: $117K (potential for rejection)
- Next Target: $120K (if breaks $117K)
- All-Time High: $124K (if breaks $120K)
- Insight: Expecting more bullish price action.
Trading Strategy
- Current Position: $150,000 Bitcoin long position (originally $250,000).
- Action: Taking profits, but not closing the entire trade. Stop-loss is in profit.
- Strategy: If rejected at $117K, profits are taken and stop-loss is in profit. If it breaks $117K, remaining trade will continue to profit.
- Potential: Take more profits at $120K and $124K.
Altcoin Analysis
Ethereum (ETH)
- Key Point: Bitcoin dominance pullback is good for altcoins.
- Current Situation: Within a sideways price range ($3.9K-$4.1K support, $4.8K-$4.9K resistance).
- Insight: Expecting more bullish price action, potentially a retest of all-time highs ($4.8K - $4.9K) in the coming days.
Solana (SOL)
- Key Point: Breaking out above $230, bullish long-term trend.
- Key Levels:
- Support: $230 (potential new support)
- Next Target: $260 - $265 (resistance)
- Further Target: $290 - $300 (significant resistance)
- Insight: Expecting more bullish price action.
XRP
- Key Point: Breaking out of a descending triangle pattern, considered a sign of strength.
- Key Levels:
- Support: $2.85 - $2.90
- Target: $3.08 - $3.10
- Resistance: $3.08 - $3.10
- Next Target: $3.30 - $3.35 (if breaks $3.08 - $3.10)
- Price Target: $3.82 (bullish breakout from the descending triangle pattern)
- Insight: XRP has a potential 24% move upwards.
Chainlink (LINK)
- Key Point: Breaking out above previous resistance.
- Key Levels:
- Resistance: $25.20
- Target: $26.80 - $27 (if breaks $25.20)
- Insight: Expecting more short-term bullish price action, especially with the Bitcoin dominance pulling back.
Alerts
- BTC/USDT;>;117,000;Josh: Breakout opportunity. Next target is 120,000.
- BTC/USDT;>;120,000;Josh: Breakout opportunity. Next target is All Time High.
- SOL/USDT;>;230;Josh: Breakout confirmed, new support.
- SOL/USDT;>;260;Josh: Target after breakout.
- SOL/USDT;>;290;Josh: Target after breakout.
- XRP/USDT;>;3.10;Josh: Breakout opportunity. Next target is 3.30.
- XRP/USDT;>;3.82;Josh: Price target after the breakout.
- LINK/USDT;>;25.20;Josh: Breakout opportunity. Next target is 26.80-27.