 After hitting a high of $50,000 on Monday, yesterday, we hit a low of $46,200 as we had the option contracts expiring this morning with the max paying price set at around $44,000. As you guys can see here, the price of Bitcoin has still been respecting this ascending trading channel that it's been bouncing back and forth from. So now with option expiration out of the way, in a touch of the bottom of this channel, are we expecting to see a continuation up past the $50,000 level or with September coming around, can we see more downside? Let's not waste any more time and dive right into today's 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 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 subscribe and turn on the notification bell. And if you enjoy this video, please smash that like button. All right, so looking at the charts here, not too much has really happened throughout the week. We've had to pull back after we hit that $50,000 level and we've pulled back to the bottom of this trade channel that we have been trading within there. So you can see that if we follow this back to where we started coming up, you'll see that we touched the bottom of this channel here and we didn't exactly touch there, but we pulled back to right before the bottom of the channel before we bounced back up. And it looks like we've got another one here. So this would be more or less the third time that we're testing that bottom. So the good thing is here that we continue to set higher highs, higher lows, right? Every time that we've gone up and we've pulled back, we've set up a new higher high, a new higher low. We set up another higher high here, another higher low. So as long as we're above this $44,000 area, we have set a new higher high and a new higher low. So we are still good, still trending upwards. Everything's looking good. These small pullbacks are just short term. They're expected. They're part of the market structure. You can't just have the price go up only like we did here, right? We had like 10 days straight of just green candles. That doesn't always happen. It doesn't always work like that, unfortunately. So we're still good here. So if we continue on this path here, I'm expecting that the bottom of this pullback is going to be around that $46,000 area where we already hit yesterday, right? So that would mean that if we're continuing within this pattern, we're going to set up a new higher. We should be setting up for a new high within the next week, right? So that would mean possibly breaking up above this $50,000 level and going beyond possibly to the top of this level. So the top of this level at this point where it's going to be around $55,000. So if we say that a week from now, that'll take us a week to get to the top of the channel. If we look at the date here, that would be September 3rd. So if then we come over here and look for September 3rd, we're talking about around $55,000, right? So that would be kind of around this range. So we would be expecting to get a bounce back basically up to the top of that level. Now, we don't always hit the top of the levels. We did hit it here and here, but you'll notice that we didn't hit the top of the level here. So even if we don't hit the top of the level and we just set up a new higher high, you can expect to hit between $52,000 to $54,000. That would be like the average there that we could potentially hit if this pattern continues, right? If we get a move up over the over the next seven days before getting another pullback, I imagine if we got that pullback, it would be a retest of $50,000. So that's what we're looking for right now to continue this pattern up. We're looking to break above. We're looking to bounce off the bottom of this channel, first of all. Then we're looking to break above the previous high, which is around that $50,000 range, right? So we need to finally break and stay above $50,000. That'll take us up to around between $52,000 to $54,000. And then we're going to get a pullback, right? And that would be when we get the pullback, that should be the retest of the $50,000 level to confirm that we have broken above it and be able to then continue upwards. If we pull up the moving averages here, because remember, we're watching for that golden cross. And right now, the way that they're moving, it looks like it might happen around September 4th range within that week, which is actually my birthday. But if it happens, if it continues the way it's moving right now, it could be anywhere within that week. So it might not be that exact date. But that's kind of my projection for the moment here, just kind of looking at how the moving averages are currently moving. That would give us a golden cross there. That would be around the same time where we could be peeking to the top of this channel around that $55,000 area. So that's what we will be watching over the next seven days to see how it develops. Now, as we continue to look for the areas of open interest, you can see here that once we can get above this level here, there's a big drop off. Look at this drop off here, right? So what that is telling me that once we are able to get above $50,000, there's really not much holding us back from $54,000 to $55,000. So that gives us that, you know, that kind of that piece of the puzzle fits the story that we're trying to tell right now, right? It's telling us the same story. If we can bounce here, get above $50,000, we should shoot up to around that $54,000 to $55,000 range by sometime in the next week or so. And we could, at that same time, be getting that golden cross. So it's all kind of telling the same story. In Ethereum, there's not, hasn't been too much movement here. We've still just been consolidating here in this range after this massive move up, you know, leading up to that update. But we have kind of been in this somewhat in this channel right here. You can see basically a pennant is forming here, right? So this is basically a classic bull flag here, which we can be, you know, possibly expecting a breakout once it starts getting to this edge of this bull flag, right? So we have to continue to watch this to see how it develops. But the main levels that we're interested in here are still, you know, above $3,500 to see that continuation to the upside for $4,000. And $3,000 is what we're looking at for pullbacks to continue buying those dips and writing them up. Overall, we expect Ethereum to continue following Bitcoin, depending on what Bitcoin does. Alright, so let's talk about some trade setups that we will be watching over the weekend. So the first one is, of course, the $48,000 area. I still love this area. It's still a major area for me. So I'm looking to continue buying any bouncebacks over $48,000. So what that means that any time that the price goes below $48,000 and then comes back up, I'm buying it when it when it comes back up, because every time it breaks back above $48,000, there's an there's a opportunity for it to go up to $50,000. So I am scalping those entries at $48,000, all the pullbacks at $48,000. Now, the next thing that we will be watching is, of course, a break above $50,000. Again, we're not going to be playing the in between at 49. We're looking for a break above $50,000. If you want to be on the safer side, then you can look for a break above this high here, which would be around $50,564 ish. So that's pretty much it. Those are the main things we're looking for this weekend. We don't expect anything too crazy. As you know, over the weekends, there's usually low volume. So if there's a big move, it probably wouldn't happen until Sunday. Now, of course, if for any reason whatsoever, we end up breaking down here, then I'm looking for entries at that $42,000 support there. It should be a very strong support. And that's the next area that I'd be looking to enter in the event where there's any sort of dump off that, that, you know, that goes that bad, right? Any theorem, we're keeping it simple. We're not trying to do too much. We're looking for entries at $3,000 still. And potentially we're looking for entries above $3,400. So those are the two levels that we're going to play the stuff in between. You can play it at lower risk, but there's just, there's just a lot of consolidation, a lot of choppiness there. So it's kind of a 50-50 shot at this point, playing what's in between. So our favorite levels are $3,000 and above $3,400. And of course, above $3,500 as well. That is pretty much it, guys. I hope you guys have enjoyed this video. If you did, don't forget to smash that like button. If you guys are new to the channel, or maybe you've been around, but you haven't subscribed yet, don't forget to subscribe, turn on that notification bell so you don't miss these analysis and when we go live. And of course the trade setups to make you guys some profits. So thank you guys so much. Hopefully you guys make some profits over this weekend. Hopefully we all make some profits this weekend. As always, guys, have a great weekend. I will see you guys on Monday. Peace and love.