 $40,000 we are officially in buy the dip season where all you got to do is hold your Bitcoin and when it goes down you buy the dip today we are covering this huge move by Bitcoin and then looking at some of the potential supports and resistances as Bitcoin is now in major discovery mode so I know a lot of you might be freaking out because of that huge dip but we got you stay tuned what's up Jay here and welcome to Bitcoin Daily bringing you guys the best tips tutorials and ideas to help you guys learn how to become a profitable and successful trader on this channel we often cover market analysis market news reviews tutorials and we teach you how to trade so you could get to that next level so if you're new here hit that subscribe button if you've been here before then make sure to hit that like button and leave us a comment let us know what you guys think about what's going on currently with Bitcoin make sure to hit that like and subscribe guys we're at 2600 we're almost at 3k our last few videos been getting 40 50 likes and almost a thousand views guys I appreciate your support guys the channel is blowing up so let's keep it going guys let's jump right in all right guys so let's go ahead and take a look at the chart let's start off on the daily as you guys can see man we've had an insane ride this has been crazy guys you know we've been tracking this ride from the beginning man and it's just been insane to watch this grow right so here we are guys we made it to 20 to 40 I was gonna say 20,000 we made it to 40,000 guys insane we've literally doubled the previous all-time high when people said it couldn't be done we did it year to date we're already up about 38% guys on the year leading all asset classes probably leading all stocks leading everything right now I believe alright so we hit forty thousand five hundred and sixty seven dollars insane move today as you guys can see just an 8% move today only yesterday we had another 8% move and the day before we had a 6% move so it's been a crazy start to the year guys as you guys can see over almost around 40% in year-to-date profits just insane insane insane insane so let's go ahead and take a look at this move let's zoom in a bit and try to understand the current levels and and see where where we might go from here right so as you guys can see it the move has respected the Fibonacci levels right so you see how it was stuck here at this Fibonacci level and then when it finally broke above it it had to test it a few times so that level right there is around that thirty six five hundred level which if you think about it it coincides with exactly where we dipped down to right so we had troubles right here as you guys can see then we had we tested a few times before we continued up so that shows that this is a level that's being respected that's the thirty six thousand five hundred level so that's why it's no surprise that then when we had this dip it dipped right down to thirty six thousand five hundred it literally dipped down to here where we had that support so it all makes perfect sense obviously hindsight is twenty twenty but if you would have would have drawn this Fibonacci level up here as soon as they hit you could have definitely seen this as a support right here so we were able to I took a few positions on the way back up now it was very risky so I didn't signal it in my trade room I didn't want to give any such a risky position but I did enter a trade at thirty six five around there entered another one at thirty seven entered at thirty seven five and I was able to write it up a bit and make some profits on that move but yes you guys can see here guys there's nothing to worry about even this bar this huge even though it was a huge dip it's green guys look at that it's still a green bar so look at all this volume that happened there just insane guys is insane we're still good obviously the RSI is oversold and we can I don't know if we can expect to just keep going up but if we continue if we just break through this 40k you know I don't see nothing stopping us from hitting 50 at that point the same thing I said when we broke thirty thousand I said if we break 30,000 I don't see anything stopping us from hitting 40 and just like that as soon as we broke that 30 look at this we broke 30 over here I have to look around you guys see me on the camera looking like this cuz I'm I have to literally the cameras in like on the side of my screen so to see the lower left of my screen I gotta kind of peek around it so don't mind me but as you guys see here at 30 this is where we broke 30 and then we just kind of took off all the way to about 35 then we you know both lagged and then boom the run all the way up so all the way to 40 just as I kind of said that you know what I mean I figured there was nothing else that was gonna hold us back so I'm kind of I'm thinking the same thing once we break above 40 there's nothing that's gonna hold us back from hitting 50 so 50 is gonna be that next next huge number remember that the big whole numbers is what the big market psychological numbers that people tend to sell that so there's gonna be a lot of selling even here at 40,000 there's still gonna be a lot of selling like I don't I don't know if we're just gonna break right through we night we might need to consolidate a bit before we can continue up so don't be surprised guys if we see kind of a bull flag right here this could this could definitely be a play that happens here with a bull flag kind of the same exact thing that happened down here right we had that huge bull flag down before we were able to continue up and that's that happened right at that 30 to 35 range we that's when we kind of both lagged and then took off so that's kind of what we're looking at and what we're watching right now obviously we don't know if that's exactly what's gonna happen yet but that's currently what we're watching and it's just kind of gotta wait and see at this at this point right up next we're gonna talk about Ethereum because we know a lot of you were asking a bunch of questions about Ethereum as well so that's what we're gonna cover right now if you are new here and have not subscribed yet make sure to hit that subscribe button just punch it a couple times for me smash it and smash the like button as well and introduce yourself in the comments I always read every single comment that's left so go ahead and drop a comment with whatever questions you might have and I will respond to you 100% guaranteed alright now looking at Ethereum you guys can see that basically the same thing happened here so when we hit around 1k so you see 1k we kind of bull flag there we had a bit of a bull flag even though we stayed to the upside ever since we broke out of that small little bull flag we just kind of took off so now we're currently we hit 1300 and the next stop is 1400 which was the previous all-time highs so I definitely see us breaking 13 however I'm not sure when so if Bitcoin continues up and it breaks 40k we could see a break of 1300 if Bitcoin consolidates we could see a break of 1300 but if Bitcoin drops hard then Ethereum is gonna drop hard with so we're watching this these levels right here the two Fibonacci levels so that's around that 1150 area the next level after that is gonna be around that 1100 to 1175 area and that's in between this Fibonacci level right here then the next area is gonna be right here which is right at that thousand dollar mark and then the golden ratio is that 61.8% which is around that 635 to 650 zone right so those are the zones that we're watching on you know if we get a retracement for Ethereum but we expect maybe something similar a bull flag like this where it uses this right here as its main support and it just kind of bounces off both of these until we have breakout and then the breakout should lead to a test of the previous all-time highs so that's kind of what we're watching you know both moves are very similar because as you guys know Ethereum and Bitcoin have been very very correlated during this run so that's just kind of what we're watching right now guys just wanted to do this quick little update for you guys I know a lot of you were freaking out and there's really nothing to worry about this is you know obviously it was a huge sell-off but as you guys can see here the dip was definitely bought so I'm just continuing to buy the dips right now I don't see us dropping way down here or anything like that so I'm just watching these levels right here that we just spoke about and buying if I see it bouncing off of there so I'm not giving any trade setups today but tomorrow on tomorrow's video we'll do what we'll look at these at the charts again and then I will give some trade setups for this weekend that's it guys that's all we're covering today just wanted to touch on a few little things here and wanted to make sure that you guys knew that relax everything's okay we're good guys we've run we've run up 38 percent this year already in seven days chill out it's okay for for bitcoins price to take a breather you don't got to freak out it's all good thank you guys if you enjoyed this video make sure to hit that subscribe button hit that like and drop a comment let us know what you guys think about the price action today how crazy it's been and if you're just holding right through it with some diamond golden hands alright guys I will see you guys on tomorrow's video as always peace and love