 So after ten days in a row of green candles for Bitcoin We finally got the first pullback in Two weeks basically right guys relax We literally just had ten days in a row of bullish movement in Bitcoin It is not the end of the world to have a couple red days. However Ethereum is not done Actually, it's just getting started. Ethereum has been up all weekend And we finally broke above this level which we spoke about on Friday's video by the way and We are off to the races. Remember guys my target here We'll talk about it off to the races will continue so in today's video We will be looking at both Bitcoin and Ethereum charts And I will be giving you guys my price prediction and my price target for Ethereum now that we have broken out above $2,500 guys expect more bullish movements in Ethereum. Let's jump into the video Hey, what's up Jay here and welcome to Bitcoin daily bringing you guys the best tips tutorials and ideas to help you guys become profitable and successful and investors the goal of this channel is to empower you 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 smash that like button and subscribe and turn on the notification Bell it helps us out a ton guys. So let's jump right in so on Friday's video We gave you guys a couple of trade setups for the weekend So let's go over them really quickly The first one we gave you guys was this one right here Which was a entry on a breakout of $41,000 for Bitcoin if you guys would have entered that on the break of 41k you would have been able to write it up to right around 42600 more or less So that would have been about a 38% Profit on that trade the second trade we gave you guys was on the break of 42,000 and we did get that break guys the much talked about break above 42 However, it was a false breakout Unfortunately on that one, you know a lot of times the first time that it tries to break out a lot of times It could be false breakouts. We've seen it. We've seen it many times We see it all the time. So I mean, I'm not too worried about it We'll talk about it more in this video But that still would have been about a 15 16% profit if you entered on the break of 42 and wrote it up to the top there Now, of course, the best trade that we gave you guys from Friday's video was this one right here in Ethereum like we said we expect prices in Ethereum to go up Leading up to August 4th update and that's exactly what happened over the weekend So although Bitcoin was red Ethereum was not it has kept going up and it pushed to a high of Basically $2,700. So this trade would have got you about 80% profit if you use 10x leverage on this trade and guess what? You could have entered this trade again this morning and been writing it up to about the 2650 area so another profitable trade if you took that same entry if you missed any of these trades Do not worry because today in this video We're going to give you guys some more trade setups that we will be watching to take throughout this week Let's dive right into the analysis. Alright, so looking at the Bitcoin chart You'll see that we had the most bullish candle that we have seen Since April guys, so this is in April. We had a candle a weekly candle of 15% And we haven't seen anything like that since then last week's candle Bitcoin's price was up 12% guys and the week before that 11% So it has been one hella of a ride since this last dip below 30k here So it's been a great two weeks Hopefully we're going to see a continuation here with this week's candle and For the continuation here. We need to see the confirmed breakout above $42,000 so you'll notice a couple things you'll notice first of all that we got rejected obviously at 42k We went up as high as 42,000 605. So we almost got there We just did not have enough volume now. Why didn't we have enough volume? Well, because this was late Friday and going into Saturday. So over the weekends There's always less volume than throughout the week. So there's there's more money moving than throughout the week So without enough volume, it's hard to break above big areas, right? So big resistance areas. We already know that 42,000 is a very very big Resistance area. You can see that it was a previous all-time high here And you see that it took us a while to get above that 42,000 area the first time we got to it, right? And now we've kind of been stuck in that same area. Look at this since since May we've been stuck and Consistently rejected at 42k and every time it's taken us lower and lower and lower, right? Now this time it looks like we broke out of this right here. You see this was a Descending resistance line and this is a confirmed breakout above that resistance line So now we need this to break through now a pullback today is perfectly healthy perfectly normal So I'm not worried about that What but what we do need is to have this break out sooner than later in order to Confirm and continue up to that 50k range if we do not if we're not able to break above that We have this descending resistance line here that's been rejecting us for a while and now it's there with the 42k Fibonacci level and the hundred day daily moving average and it's all kind of there together And it's what's rejecting us right now from that level So we will definitely need a push here with a volume to get above this area Let's zoom into the daily chart now on the daily you will see exactly where we were rejected there Right at that resistance right where the combination of this descending resistance plus the Fibonacci level Plus we can pull up this hundred day moving average here and you'll see that that's also causing us Rejection so it's all kind of together there There's just so many things going on in this one little area right now Which is why the prices are struggling here You'll also notice that we were oversold here on the daily chart And we were also oversold on the four hour chart here You can see how oversold we were here and you can see there has been a bit of a bearish Divergence here on the four hour chart as the RSI has been going down While the price was going up So that basically means that we were running out of steam because we've been going up for so long Which is why we needed a break We needed some sort of pullback to reset the RSI and get it back in sync with the price So that we can continue up higher So this is all part of a healthy market structure guys Nothing to fear as of this point the supports right now below the current level that we're at is $38,000 which we already tested today and we got a bounce back up and over the low of the day by about a thousand dollars So you'll see now the the four hour chart were back in neutral zone here on the daily We're also back in that neutral zone as you guys can see we're no longer oversold on any of those so we just need them to get back in sync and we should expect to see a Continuation to the upside here, especially once we break that 42k level So that's the level that we still need to break through and I still expect the same exact thing guys I believe that once we finally get that confirmed break out above 42k We'll see something similar to these candles here when we got that break out above 35 So you'll see how we got rejected rejected rejected a bunch of times here at 35 and then finally Confirmed it over here, right? That's exactly what we could potentially see here We could see a few days of rejections here before finally getting that break out up and above Where we can continue and expect to see like I said earlier 46 to $50,000 is my price target once we get that confirmed break out with a volume here You can see here as far as open interests in these areas once we can clear this area here There is nothing here. So there's this is basically a gap all of this area is a gap here So we can expect once we break out of here to go at least to this area right here that's around right around that forty seven thousand dollar area and Potentially just continue up to fifty thousand at that point. That's where there's the most interest here that's also where we will find a the next Fibonacci level and the top of this range up here All right, so let's take a look here at the Ethereum chart as you guys can see on this weekly chart here last time we broke above this level here Look at what the weekly chart was look at this guys. This was a 27% move last week anything we had a 16% move and this week We could potentially see this go up to the top of this range, right? So the price up here is three thousand dollars That would be the top of this current range here And if we were to break out of this range and get into this range up here Which is what this candle was here then the top of this range would be thirty five hundred dollars So we could potentially see a move here in Ethereum this week Go up to that three thousand level and then potentially see it go up Even higher to that thirty five hundred dollar area You can see how the volume here just kind of drops off a cliff right here And that's right above that twenty eight hundred area So if we are to get above twenty eight hundred then for sure We're going to hit three thousand and if we can hit three thousand then look at this Look at the volume over here guys. There's there's almost no volume there So we could literally have a run up from twenty eight hundred All the way up to around thirty three to thirty five hundred dollars in Ethereum Possibly this week there is a lot of bullish sentiment in the market Because of the Ethereum update that's coming on Wednesday, August 4th Now one thing to of course be aware of is a sell the news event So just how if you're taking trades make sure you're setting up stop losses If you're taking short-term trades if you're take if you're just in a long-term position Then don't worry about it because that shouldn't last very long if it happens at all This update is supposed to burn Ethereum tokens now going forward. So I don't know why it would be a sell the news type of event But as you know in crypto and just in all markets overall sometimes things that don't make sense happen So we have to at least be aware of these possible situations So that would be something that could potentially happen on Wednesday or going into Thursday the day after the event or it could even just right before leading up to it So I'm definitely expecting a lot of volume here over the next few days I'm expecting the price to continue pumping and again my price target here is three thousand dollars And I believe if we can get above three thousand dollars We have basically a clear shot at thirty five hundred dollars So what we will continue to watch here as it develops and and go from there. Alrighty guys So let's jump into what you're probably all waiting for it Which is some trade setups that we're going to be watching this week to make some profits Before we jump into that though, I need you guys to smash that like button guys if you guys enjoy this video Smash the like button it helps us out a ton and it only takes you a few seconds and best of all, it's free So now that you've liked the video, right? Let's jump into these trade setups. So this week's trade setups are pretty much going to be the same as Fridays right since we're kind of in the same level here So we're going to be watching for a breakout above 42,000 and we're going to be watching for a bounce back trade at thirty eight thousand in between You can take forty thousand entry if you like I just be risking a lot less on that trade, but it is a possible trade There's just a lot of movement there at this time So I might not be taking that trade, but I'm still not a hundred percent sure on whether or not I'm going to take it if I see it, but the forty two thousand and thirty eight thousand dollars trades I will be taking both those also for a short position if prices fall below thirty eight thousand You could open up a short trade on Bitcoin because below thirty eight thousand we could potentially see Thirty six and thirty five thousand dollars. So that's definitely a trade idea there as well for Bitcoin Any theorem the next trade that we're watching for here is twenty seven hundred And then we're also going to be taking a trade above twenty eight hundred as we spoke about you saw the drop-off in Open interest once you got above that level So that should be a good level to open up a trade as well And then of course the final level that will be setting up some entries in are above $3,000 which could trigger a You know a shootout all the way up to around that thirty five hundred dollar range So that's definitely another breakout entry that we're going to be watching now on any pullbacks The level that we're watching here for pullbacks is twenty five hundred dollars this week any theorem We are very bullish on a theorem this week So we will be risking a little bit more than usual probably around that three percent range on each trade that we're taking Any theorem and on on Bitcoin any trade below 42k? We're only risking 1% above 42k then we're willing to open it up a little bit more to two to four percent So that's pretty much it guys we covered everything we wanted to touch on for today to get you guys ready for this week Hopefully we get another big green candle in both Bitcoin any theorem and just in the overall market Thank you guys so much for watching this video as always if you enjoyed it smash that like button for us Drop a comment for us as well with your thoughts and any ideas you have any questions because it helps us out a ton With the algorithm as we're trying to continue to expand this channel to a larger audience If you guys are new to the channel, don't forget to subscribe and turn on the notification bell Thank you guys so much. I will see you on the next video. Let's make some profits this week Thanks again, as always peace and love