Video: BITCOIN HOLDERS: DON'T BE FOOLED BY THIS (Double Dip)!!! - Bitcoin News Today, Ethereum & Altcoins
Generated: 2025-11-07 09:03:49
Status: ok
Josh provides an analysis of the crypto market, emphasizing the influence of the US stock market. He anticipates continued weakness in the crypto market in the short to medium term, citing bearish divergences and the stock market's performance as key factors. However, he also identifies potential short-term relief rallies and trading opportunities.
Josh's overall market evaluation leans towards bearish sentiment for the crypto market, particularly in the coming weeks and months. He highlights the impact of the US stock market's pullback on Bitcoin and other cryptocurrencies. He suggests that any short-term bullish moves in the crypto market might be temporary. However, he also points out possible bullish divergences on some charts, indicating potential short-term relief or sideways consolidation.
Josh is currently using a Bitcoin grid bot, which automatically buys low and sells high. It is currently in a slight unrealized loss due to the market's downturn. The bot has buy orders set up to accumulate Bitcoin as the price goes lower, with a bottom range set to around $70,000. The liquidation price for this trading strategy is approximately $42,000. He anticipates the bot making profits as the price bounces back. Josh is also offering a copy trading option for this strategy.
Josh expects sideways consolidation or slight relief in the short term. He emphasizes that the US stock market's performance significantly impacts the crypto market. He highlights the importance of being prepared for trading opportunities, regardless of market direction, by using the provided exchange links.
Josh's overall market assessment is cautious. He believes that the crypto market is currently experiencing a "double dip" due to the continued pullback in the US stock market. He anticipates a period of weakness, potentially a sideways consolidation or a slight relief in the short term, but overall, the market is not looking good for the next few weeks or months. This is mainly due to the massive bearish divergence still playing out in Bitcoin. Josh emphasizes that the short-term bullish moves might only be short-term and not a sign of a larger market strength, especially if the US stock market continues its bearish trend. His trading strategy continues to be a Bitcoin grid bot.
Weekly Chart: The Supertrend indicator is still in the green. However, the massive bearish divergence is still playing out, suggesting a lack of bullish momentum. Josh expects choppy sideways price action at best, and a likely pullback in the coming weeks or months.
Daily Chart: Bitcoin is holding above the support area between $99,000 and $100,000. If it breaks below, the next supports are at $97,000, and then $93,000 - $94,000.
4-Hour Chart: The short-term trend is still bearish. Josh notes a possible new signal: a potential bullish divergence forming. The RSI is forming higher lows. If the price confirms a candle close below the previous low, and the RSI confirms a higher low, a short-term bullish relief could occur. This could mean either a slight bullish relief or choppy sideways price action. Josh reminds that it's just a break from the bearish trend, not a massive bullish trend reversal.
Trading Strategy: Josh is still using a Bitcoin grid bot. It is currently in a slight unrealized loss. The bot buys Bitcoin as the price goes lower. The bottom of the range for this trading strategy is $70,000. The liquidation price is $42,000. The trading strategy can make money if the price bounces back up from $70,000.
Bitcoin Dominance: Bitcoin dominance is struggling at the resistance area between 60.5% and 61%. This is good news for the altcoin market. If Bitcoin dominance breaks above 61% with confirmation, it would be very bearish for altcoins.
Ethereum: Ethereum is in a bearish trend on the daily time frame, with lower highs and lower lows. It's holding above an important Fibonacci support level around $3,000 - $3,100. If that level breaks, the next supports are at $2,800 and $2,600. The Ethereum RSI is oversold, which might lead to a short-term relief, but this is not a confirmation of a bullish trend reversal. Resistance is found between $3,350 and $3,450. Josh expects this bearish trend to last for weeks or months.
Solana: Solana is holding and slightly bouncing from the support area between $143 and $147. If it breaks below this area, the next support is around $135, and the major target is $125 - $126. Resistance levels are at $157 - $158 and $170. The structure is bearish.
XRP: XRP is still playing out the massive bearish divergence on the weekly time frame, with a lot of weakness expected. On the daily chart, there's a bullish divergence. XRP is finding resistance between $0.230 and $0.240. If XRP breaks above $0.240, the next resistance is between $0.260 and $0.270.
Chainlink: Chainlink is in a bearish trend, with lower highs and lower lows. It has broken below the support area of $15.20 to $15.70, which is now acting as resistance. Support is at $13.40 to $13.50. If it breaks below, the target could be $11. Chainlink is looking very weak.
Based on the analysis, here are some potential trading opportunities and strategies:
The overall sentiment is bearish in the medium to long term, but with potential for short-term relief or sideways consolidation. Josh suggests to be prepared to profit in the market regardless of the price direction, using different strategies like shorting, grid bots, or longing.