The crypto Market is pumping right now Here but while this is happening we can See that a total of 2.2 billion US Dollars is in total pending withdrawal For ethereum and I will be exactly Discussed what this means for Bitcoin Because this could be meaning that we Are going to see a 2 billion US Dollar Sell order going to get activated in the Coming weeks ahead of herself so make Sure to watch this video till the end I Will talk about exactly what kind of Effect this will have for ethereum I Will talk of course about the Bitcoin Dominance that right now is finally Running in towards the resistance and we Are seeing that significant rejection What could be right now indicating that An altcoin season is upon us so I will Be exactly discuss this on today's Update video don't forget to slap up That like button and can we once again Smash your backlash 600 that will be Absolutely incredible and with that of Being said let me jump straight away in Towards the content and once looking at The image short term for Bitcoin we can Clearly see we're starting to see a Significant uptrend getting created for Bitcoin and only a minute short term we Can see the Bitcoin is starting to Create somewhat of a bearish diverges on The one hour time frame so for me if I Really look at the one hour time frame I

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Wouldn't really be surprised to see a Small sideways price action or a small Cool of period happening for Bitcoin Before eventually moving further on Towards the upside since right now we Already are trading in a significant Uptrend already for Bitcoin if I really Want to be seeing what is happening next We can look at the four hourly time Frame because on the four early time Frame we are clearly breaking out of the Bullflex scenario we you can also see it Actually on the one hour time frame but On the four early time frame it looks a Little bit more clear the price target Of this bullflex scenario is somewhere Around 32 000 US dollars what is from of This point onwards another approximately Four percent rise towards the upside so I'm going to keep my eyes wide open on That one it's going to be a very Interesting one to be trading here but Currently like I said also yesterday Already I already do think it's actually Too late to be opening up a long Position because also if you're looking At the 40 time frame and purely at the Momentum indicators we can currently see That Bitcoin is creating a significant Bearish Divergence after creating and Confirming higher highs on the 4 hourly Time frame and lower highs on the RSI I Should be very careful right now with Trading Bitcoin in Long positions

Because yeah we are clearly seeing that Momentum is potentially drying up and We're seeing some reversal indicators of Such kind of a bearish Divergence so Please be very much aware we are Currently creating a bearish Divergence And this is not necessarily the time to Be opening up big positions for me to Open up a new big position on the Bitcoin I really want to be seeing of Course a potential retest of the 28 000 US dollar barrier or maybe of 25 for 26 000 what I don't really think is likely To get rich anymore right now here but I Don't really think that it is a smart Opportunity right now to Long Bitcoin I Would rather wait a little bit here to See a clear retest for me to exactly Long that level right there currently we Can see the Bitcoin is balancing towards The upside and if you want to be trading These moves here you can do so on Vibrate if you sign up an account in the Link in the description right now you Can actually claim a 30 000 US Dollars Suppose a bonus and you can also trade Ethereum that is extremely volatile Right now and what is also allowing us Good trading opportunities because Talking about ethereum before going into Bitcoin we do right now know that the Bitcoin dominance is right now running In towards resistance what could be Providing some more momentum for all

Coins and not only ethereum but also Many other all coins that you can Actually start to be trading very well Because they will probably start to Outperform bitcoin just like ethereum is Doing today because ethereum is Outperforming Bitcoin by over five Percent on only already this day and if We do see this rejection from the top Side it will be actually likely to see The Bitcoin dominance move down towards The lower region of 39 here what could Be meaning an entire Bull Run for all The altcoins out there on the market we Can see currently on ethereum is that we Broke out of the symmetrical triangle And currently we're running in towards This next resistance range right I can Even extend this level and can clearly See this was previously resistance Previously around support support right Here resistance right here and currently Yet again we are retesting this novel What I personally think is a huge level Of resistance you can see it also in the Daily time frame we're currently Retesting the previous daily high and This was also previously around the Daily low for the ethereum price action So if I really look at the level what Ethereum really needs to break in order To see that bullish continuation it's Going to be that 2130 dollars for ethereum you can see

Here this was the level we got rejected From and said saw that very significant Drop off towards the downside towards so If we confirm the breakup of this level It's going to be most certainly be very Bullish for ethereum but what I still Want to be pointing out here is that if I look at the ethereum Shanghai unlock Here we do know that currently an Approximately 70 million ethereum is Currently stake on ethereum 2.0 on the Beacon chain and that is approximately 15 of the total Supply however right now We can see that an approximately 1 Million ethereum is still pending for Withdrawal and that is an approximately 366 000 validators that currently are Processing a withdrawal so this is 2.2 Billion US dollars a worth of ethereum And this could generate most certainly Cell pressure but what is very important To understand here is that in the next 11 hours we will only see 52 000 Ethereum getting unlocked because if you Know how it works there is an ethereum Exit queue so if all the validators want To actually leave at the same time it Will take more than 500 Days for all the People to leave the queue so it really Takes some time before the uh cell Pressure really occurs on the market so Yes there is an approximately 1 million Ethereum pending for withdrawal but this

Could take up to an approximately 10 Days before this withdrawal is fully Processed so yeah we could see in the Coming 10 days an approximately 2.3 Billion US dollars in ethereum cell Pressure occurred to the market and like We can earn currently also see is that The net staking balance is still minus 140k it's not that bad here because it's Only like a slight decreasement of the Total deposit so I don't really think It's a bad thing here we're seeing a Slight decrease with in total ethereum Stakes I wasn't surprised by it but what I really want to be pointing out here is That I see some posts here on the Internet what is really telling us a Different story some people are saying Oh there is right now more ethereum Getting deposited then withdrawal but That is not true because there is an Entire huge cue for ethereum that is Actually willing to leave the market so Make sure that you do your research as Well on uh yeah what this exactly means Here but I see some influencers some People on the internet saying that Ethereum is only seeing more deposit Than withdrawals but it's actually not True because we can also clearly see it On this website right here the net Staking balance is still negative and we Can still see that approximately 2.2 Billion US dollars in cell pressure will

Be hitting the market in the coming 11 To 12 days here so be very much aware For that one here to be very honest am I Bullish on ethereum yes I am for the Long term I am most certainly bullish if I look at the ethereum supply growth we Do know from off the point the merch Went in we saw already a supply decrease With of 0.123 here what is the supply Change of 85 000 ethereum what is quite Significant in my opinion I'm never Going to be looking at the forecast We're expecting that ethereum will Become more and more deflationary over Time so yeah I do think ethereum is a Good long-term investment and I do think Eventually ethereum is going to see more Significant rally only right now in the Imminent short term we could see some Significant cell pressure hit the market Here so I don't want you to front run The markets I want you to be staying a Little bit patient here and my bullets On ethereum yes most certainly do I Think that this is the best time to be Buying all your ethereum no I don't Think so we are actually entering over Ball territorium and usually once Ethereum goes overbought or any asset Goes overbought you should maybe take it With a grain of salt and you should Maybe wait for the market to cool down To be then looking at your entry prices So yeah I'm currently very cautious of

Course I can see all these kinds of Signals Happening Here for Bitcoin as Well I mean we are currently running Still in towards weekly resistance I Mean if we do break above it it's going To be absolutely bullish for Bitcoin and It's going to be most certainly Indicated we're going to see you further Continuation up here but on the daily Time frame we're also still seeing the Macd is creating lower highs the macd Moving average is creating lower highs So we are still clearly seeing a Somewhat of a momentum Divergence Getting created here on the price Section of Bitcoin I want to take these Signals very seriously right now here We're seeing a similar movement getting Created just like we saw previously Around here and I mean I'm not saying The Bitcoin or ethereum has to crash Towards the downside I'm only expecting That it is going to be good if we at Least see some more cybus consolidation After such a significant rally towards The upside so that was it for me in Today's update video if you did enjoy Don't forget to slap up the like button If you want to be trading Bitcoin Ethereum or any all coins that are most Certainly going to be having very good Trading opportunities in the coming days Ahead of ourselves don't forget to check Out by bit and you can write and also

Claim a 30 000 US Dollars deposit bonus So make sure to check it out but anyways Thank you so much for watching and I'll See you guys on the next one peace out Goodbye

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