BITCOIN & ALTCOINS: THIS CHANGES EVERYTHING!!! Bitcoin News Today, Ethereum, Solana, XRP & Chainlink

This video provides an update on the current state of Bitcoin and several altcoins, including Ethereum, Solana, XRP, and Chainlink, offering price analysis, potential targets, and trading strategies.

Here’s a summary of the key highlights:

Bearish Divergence Ending: The short-term bearish divergence on the 4-hour chart is coming to an end, with slight higher lows and higher highs forming in the RSI. This suggests a potential for a slight bullish relief or choppy sideways action.

Bitcoin (BTC)

Overall Trend: The speaker emphasizes that Bitcoin is still in a larger bull market despite some short-term cooling off and sideways consolidation.

Key Levels:

Resistance: Significant resistance is noted between $120,000 and $123,000, with a particular focus on the $120,000 to $121,000 range.

Support: Support is expected between $116,000 and $117,000.

Short-term Outlook: Bitcoin has reclaimed a key level, increasing the probability of a move towards the $120,000 liquidity area. However, the short-term price structure shows some bearishness with lower highs and lower lows. A cool-off phase is expected for the next one to two weeks.

Liquidation Heat Map: The main liquidity level in the short term is building around $120,300 to $120,500.

Ethereum (ETH)

Resistance: Ethereum is approaching a significant resistance area between $3,900 and $4,100.

Support: Immediate support is around $3,500, with more support between $3,200 and $3,300.

Bullish Potential: A confirmed breakout above $4,000 to $4,100 would be extremely bullish, potentially leading to a run towards all-time highs in the high $4,000s or even $5,000+.

Ascending Triangle Pattern: On the 2-hour chart, Ethereum is forming an ascending triangle pattern, which statistically has a higher probability of breaking out to the upside.

Bullish Target: If a breakout above resistance (around $3,760) is confirmed, a bullish price target of approximately $3,970 (just under $4,000) is set.

Bearish Target: If a breakdown below support (around $3,670 to $3,680) occurs, a short-term bearish target of just under $3,500 (around $3,480) is possible.

Solana (SOL)

Resistance: Solana is struggling under major resistance, the “golden pocket” area, between $191 and $199 (roughly $190 to $200).

Support: Support is around $180 and $167.

Larger Trend: The larger trend remains bullish, forming higher lows and higher highs.

Bearish Divergence Invalidated: The short-term bearish divergence on the 2-hour chart is now considered over, suggesting a potential for a short-term bullish relief.

XRP

Support: XRP is using roughly $3 as very significant support. Important support is also expected between $2.90 and $3.

Resistance: Resistance is expected between $3.30 and $3.40, and closer to $3.60. The next significant Fibonacci extension level is around $4.60 to $4.70.

Overall Trend: The larger price structure is still bullish, with higher lows and higher highs, and it remains relatively close to all-time highs.

Short-term: XRP is in a sideways consolidation phase after recent volatility, expected to remain range-bound for the next few days. A significant bearish divergence on the weekly chart is present but not yet confirmed.

Chainlink (LINK)

Support: Chainlink is holding and bouncing from a key support area between $17.50 and $18.

Resistance: Significant resistance is expected between $20 and $21.

Larger Trend: The larger trend is still bullish despite short-term pullbacks.