 So we had an interesting weekend with Bitcoin retesting that $50,000 area and then quickly getting rejected and getting sent back below $48,000 briefly to trigger, of course, our $48,000 bounce back entries. As you can see, we're currently above $48,500. Easy profits here guys. Ethereum is also on the move today guys. It is currently above that $33,000 area for the first time since August 24th. So it's been about a week or so since we've seen this area. This, of course, also went under that $3,200 level to trigger some easy profits on our trade setups that we spoke about on Friday's video. Now, are we finally going to see this next leg up in Ethereum? Are we going to finally break this week above $50,000 in Bitcoin? Let's jump into it. AJ here and welcome to Bitcoin Daily bringing you guys the best tips, tutorials and ideas to help you guys become profitable and successful investors. The goal of this channel as always is to empower you guys, the community with the knowledge and resources to take your wealth up to that next level. So if you guys are new to the channel, don't forget to subscribe. And if you enjoy this video, go ahead and smash that like button. Let's jump into today's video. So continuing where we left off on Friday's video, when we're looking at this current pattern in Bitcoin, we saw that we were in this channel kind of bouncing up and down within it as we continue to go up, setting higher highs, higher lows and etc. You will see that over the weekend, we touched the bottom of the channel yet again here. And we set another higher low here. So we didn't go as low as the previous one, we continue to set higher lows as we continue to move within this channel. So this week, we're looking for this to continue. We're looking to see a bounce off of the bottom of the channel and a move up to finally break through this $50,000 area. That's the current big resistance level that we're currently watching that we're currently being held under. If you guys can see that you can draw a line here and it's a triangle here, right with the big impulse move and consolidation. So this is a classic bull flag that's popping up here now. Now the only things that we have to keep in mind as we go into September. So first of all, September has historically been kind of a down month, right through the summer, Bitcoin goes up. And then in September, usually is like the breathing period for Bitcoin. And that's kind of what's happened here, right? We've had after this drop July and August, we've had two very bullish months, September could be a month of consolidation, maybe a month of pulling back to go along with that story. You can see that the momentum on the RSI has been dropping, right? So you see that RSI is currently dropping down while the price is going up. So that's there is a that's called a bearish divergence. When there's bearish divergences in the chart, that means that either we have to pull back so that they both get back on track, kind of start, you know, start going together again, or that we need more consolidation, right? So so that's currently those are the things that we're watching right now on the, you know, the bearish case scenario. Now on a bearish case scenario, we would be expecting something like, you know, a breakdown from this channel, maybe to a retest of 42,000 before continuation up. So that would be the bearish case scenario. I don't think we would break below 42,000. Now the bullish case scenario here is that we just completely ignore this, right? And get a bunch of volume here and bounce back up to the top of this channel, which would lead us probably to that like 54 to 55, I would say 52 to $55,000 area in September. So that's currently what we're watching here as we continue to develop this week. We have to continue to watch what develops and just kind of make decisions based off of that. That's why we do these every Monday and Friday, because the whole market structure could change within that timeframe. Now, another thing to note here is a Bitcoin dominance. As you can see, the Bitcoin dominance has been dropping as of late, right? So we went as high as almost 50. And then ever since then, that was basically the end of July, you know, Bitcoin dominance has been going down, which is why, you know, Bitcoin's just been kind of consolidating for the most part and outcoins have been running a lot more. So now this does open up the opportunity for Ethereum to finally make it to move up. I believe that if we can break above 3,500 here, we could really run up to around that $4,000 area all the way up to possibly previous all-time highs. We're not far off those all-time highs at this point, guys. If we look from where we are right now to where our all-time high is, that's just a 30% move from where we currently are right now. So we're 30% away from an all-time high. That is definitely very doable, especially if the Bitcoin dominance continues to go down, you know, and as long as Bitcoin holds around this area, as long as it either bounces up or holds here, we can definitely see the price of Ethereum here shoot up, possibly breaking this 3,500 area and retesting those previous all-time highs around that $4,400 area. All right. So you can see that we basically have any Ethereum kind of a similar channel right now, right? We have a similar channel like in Bitcoin, where it's an ascending channel and we're just kind of been consolidating within it, you know, kind of doing this, right? So if we continue to do that, we should be expecting to hit 3,500 within the week, right? So the top of this is right around September 3rd, September 4th range. So if we were to continue within this channel, I'd be expecting, you know, to potentially test it within the week, possibly see a breakout sometime after that, maybe sometime mid-September, or maybe like in about two weeks or so, or it might happen earlier. Because remember, Ethereum hasn't really been moving here. Look at all this consolidation. So there really hasn't been a next leg up here. So we're looking for something like this here, where it just explodes up, right? So if we get something like that, then we could definitely break this within the week, or maybe even faster. So that's currently what we're going to be watching here as a week develops in Ethereum and try to take advantage of the next move up or any pullbacks back down to the bottom of the channel so that we can grab some entries and make some profits on those moves in regardless of the direction of it. All right, so let's go ahead and look at some trade setups that we're going to be watching this week. So the first thing that we're looking here, I mean, not much is going to change in Bitcoin. There's two levels that we're going to be watching here. That's $48,000 and $50,000. So $48,000 is, of course, the pullback bounce entry that we're looking for. That means that if this price pulls back down here below $48,000 and then bounces back, we are entering on a break back above, you know, bounce back above $48,000. We don't want to enter the trade while the price is going down. That's going to most likely stop you out. We're going to enter when the price bounces back up. The next entry is going to be that $50,000 area. As you guys know, it is a big psychological number. We had one fake out there and we haven't really touched $50,000. So I'm playing that same exact level. One of these moves above $50,000 will be the breakout. So just I'm entering, you know, as soon as we're breaking above those levels, no hesitation there. You guys already know that a breakout above $50,000 could potentially lead us up to between $52,000 to $55,000 as we spoke about already. So those are the two trades that we're looking for this week in Bitcoin. In Ethereum, you guys already know that we like that 3200 levels. One of our favorite levels that we've been using for entries, 3300 is also fine. But our favorite level on a pullback is of course $3,000. That's where we have the most support, the most buying activity at that level. And after that, you can play the levels like 31, 32, 33, but I'm risking very little on those 1% or less on those trades. The next breakout that I'm looking for is over 3400. But even on that one, I'm still risking 1% or less. The break that I want is above 3500. So 3500, if we get that break, I'll be risking there between 2% to 3% with a potential target of $4,000. And that's pretty much it guys. There hasn't been too much craziness in the market over the last couple of days. So it's not too much to update on. We're still kind of pretty much watching the same things we've been watching since Friday. We have to see what develops here. We're all just patiently waiting here for the next leg up so that we can catch this next move and just make a lot of profits with it. So I hope you guys enjoyed this video. If you did, don't forget to smash that like button. If you guys haven't subscribed to the channel yet, make sure to subscribe. We're almost at 11,000 subs. And that's pretty much it guys. I will see you guys on the next one. As always guys, have a great week. Let's make some profits and peace and love.