 And we have lift off as you guys can see here Bitcoin bounced exactly where we were pointing out that bottom of the channel that 52 to 50k area that we spoke about yesterday we spoke about it on Wednesday we spoke about it on Monday. So if you guys watch yesterday's video and bought the dip raise your hand put them up high. Don't be afraid. Now take that hand and give yourself a nice high five. You deserve it. But if you missed yesterday's video and did not buy the dip shame. But don't worry because today and well this weekend you have another opportunity to make some profits. Do you want to know how? Of course you do. Stay tuned to the end to find out. Hey what's up Jay here and welcome to Bitcoin daily bring you guys the best tips tutorials and ideas to help you guys become profitable and successful traders. The goal of this channel is to empower you guys with the knowledge and resources to bring it all together and take you up to that next level. So if you guys are new here make sure to subscribe make sure to smash the like and turn on that notification bell so that you guys are notified soon as we post videos five times a week. So today we will be doing an analysis on both Bitcoin and Ethereum to see what the chart is currently showing us and what we can possibly see over the next few days now that the options have expired. Then of course we're going to hit you guys with some trade setups that we're going to be watching for the weekend. But first let's go ahead and start with some daily news. Today a Bloomberg intelligence analyst said that Bitcoin can reach $400,000 in 2021 as a risk off reserve asset. You can see it on the chart here exactly what they're looking at and this actually dwarfs other really bullish price predictions that was set. For example the stock to flow model that says that Bitcoin should reach around $288,000 by 2024. In other news option traders are targeting $80,000 by May. That's right $80,000. With Coinbase's highly anticipated direct IPO expected to take place next month, option traders are expecting on Bitcoin to soar to new all time highs. Option traders are targeting that price point more than any other strike price by at least 50%. As you can see here $80,000 is the strike price that the majority of option traders are currently putting in their bets on and the biggest put bet is for $40,000. However data suggests that that's only about a 6.19% chance of Bitcoin actually reaching that price level. But remember this is Bitcoin where it doesn't care about probability or odds. Remember that April is historically a bullish month for Bitcoin. Historical data shows that Bitcoin has seen profit in April in 8 out of the last 10 years. So that includes last year where we had a 34.5% profit in 2019 it had a 28% profit in 2018 it had a 33% profit. So hang on to your hat folks we might be going for a ride. So let's go ahead and take a look here at Bitcoin. As you guys can see we are back over the trillion dollar mark. Currently the fear and greed index is showing a 54 which is a neutral position. If we take a look here at the chart of Bitcoin you can see that we got rejected. So Monday's video we were right here and I said we were at the top of that channel. So you had to be careful and any entries that you took here you had to use very small risk on it because again we're at the top of the channel. As you saw we did not break above we got rejected and we got taken down all the way to the bottom of this channel. We spoke about this this channel was already drawn since Monday and we covered exactly where what could happen if a rejection happened. So I said if there was a rejection I expected it to touch the bottom of the channel at some point and I expected that bounce to be between 52k and 50k right. And where do we go we went exactly to that spot 52 to $50,000. Now another spot I could have gone down to was 48. I know there's a lot of buyers down there but we did not go that low. You know this channel here was able to hold us and give us that bounce back up and that's currently what we're doing. So now we're going to continue up and I believe over the weekend now that the Bitcoin option contracts have expired we don't have as much downward pressure anymore. So we should hopefully over the weekend kind of you know work our way over here like you know this is just from what I said my thoughts on it. But my opinion was April 1st could be a good day for a breakout here. So a breakout is going to be basically above that 55k level here right that's going to be possibly where the breakout could happen. It depends how long it takes. You know if we take the weekend today's a 26 oh to see 2728 I mean over the 2728 if if we do just shoot up really hard then that breakout would be a little bit higher right. The breakout would probably be more towards that 57 to $58,000 range. But if the breakout if the breakout doesn't happen till the 1st which could be in my opinion is when it could be because that's going to be a new candle. There's a lot of bullish sentiment in April. April has always been a bullish month. So like we just said so that's why I'm expecting a breakout there out of this channel where we could possibly run up to around 57 something possibly come back down. Either test that 55k range again or we might just continue up test that 60k range you know maybe come back down to 58 and then possibly retest this previous all time high here. Now obviously I'm just you know throwing up possible situations and there's so many different variations and scenarios of this that could go on but that's one of the scenarios that could happen. So we're going to be building basically our trade setups and our watch list around the idea of that breakout happening. You see as far as the RSI goes we're in the neutral area which is a good sign like we spoke about before. Every time that we get into that overbought area we get a dump right so we dumped down we saw it right there and we touched on the subject last week probably. I said that every time we're an overbought on this on the four hour see overbought we had a dump down and it happened again. So from now on let's we're going to keep an eye on that to make sure that we let you guys know every every time we're oversold it could lead to another dump as far as my target here in Bitcoin. If and when we see that a breakout like we spoke about we touched on it a few times. I'm expecting a breakout to the $70,000 range. So the option betters are pretty close. They're very close to my price bet. If we break out on April 1st I'm expecting a move up to $70,000. That is my price prediction. That is my price target for Bitcoin. So the $80,000 prediction by option traders is a lot more bullish than mine but my number is $70,000. Remember that I also called the breakout here when we broke out of this same exact pattern that we're watching right here right now. When we had that breakout I called the same exact target. If you guys go back and watch those videos I think that I actually called for a price of $62,000. And with this measurement though once I measured it it gave me the price of $58,000. So when we broke out here we got to that price of $58,000 which was exactly where that measurement led if you use the bull flag theory where you measure from the bottom of the pole to the top of the pole. Then you put it out here and you measure it starting off where the breakout happens. So once we did that it gave us a price target of $58,000 and we went up to $58,000. And then once this happened we told you guys we measured the bottom of this to the top of this and we told you guys that our price prediction with a breakout here was $62,000. And guys it went directly to $62,000. So we've been right on both of these predictions here. Now we're calling for $70,000. Obviously this number can change. We can't say it in, you know, we're not 100% sure. Obviously we're never going to be 100% sure on any call. But this price could change depending where we end up breaking out. So if we end up breaking out on April 1st then my price prediction is $70,000. If we for some reason break out, you know, at some point this weekend or sometime before then my price prediction could be as high as around $72,000. So that's basically going to be my range as far as price prediction between $70,000 to $72,000. It just depends highly on where we break out of. That's going to be the biggest thing here I would say. So depending where our breakout happens is where that price target is going to be. So make sure once we see some sort of breakout that you tune into our video so we can give you that number. In Ethereum, more of the same here as you guys can see. If you look at Ethereum and you put it next to Bitcoin, they're basically, you know, the same pattern here. So they're very correlated. You see here that I just brought the Bitcoin price in to just kind of see what it looks like with Ethereum as well. And it's basically the same exact price movement, right? So you can see the same, same movements here going down, going down, and now it's getting a bounce. Now we're getting a bounce. The only thing that the difference here is that Ethereum is usually a little bit more exaggerated in both directions. So it's a little bit more volatile than Bitcoin because obviously Bitcoin has a bigger market cap so it doesn't move as far as percentages that big while Ethereum still does. So with this move down right here, this move right here went down to about almost 20% here for Ethereum compared to Bitcoin here. So that's just pretty much how you want to think of Ethereum as far as correlation to Bitcoin is that basically it's an exaggerated Bitcoin amount pretty much. And that's always going to be in both directions. If Bitcoin drops 5%, Ethereum might drop 10%. If Bitcoin jumps 5%, Ethereum might jump 20%. You know what I mean? So now it's not always, but it's a little bit more volatile and a little bit more high risk, high reward when you're trading it. So here we're basically watching the same thing for Ethereum. We're now back inside this channel. So basically the bottom of this channel is going to be support. That should be around that 1600 area for now. If we continue up, the only, the next resistance really is that 1720 area, right? So that 1720 area is going to be the next resistance. The channel break is probably going to be around that 17. It might be around the 1720 to 1750 area. It just depends when we get that, when we get that break. So if we look at this, a possible scenario here would be probably around the same time. Let's say April 1st happens. Look at that where it's exactly where that 1720 mark would be, which is this previous resistance, also previous support many times and another previous resistance. So it kind of makes sense that it's going to coincide with the previous resistance and support. It's also a Fibonacci level. As you guys can see here, it's that Fib level right there at 23.6% level. And it's also going to be where this trend line, the sending trend line on this channel is. So it's going to have to break all those levels in order to break through and continue up to previous highs, basically 1800, 1900, 2K, right? So if we say, if we use the same theory for the bull flag breakout, right? And we place where the breakout could potentially be, which would be right around here is where I'm putting all my breakouts currently, which is for April 1st. If we saw the breakout on April 1st, then our target given by the bull flag price target theory, once it continues up, it's going to be up to around that $2,200 area. So that's currently the levels that we're watching there for Ethereum. We're waiting to see if we can get that break around that 1720 area where there should be a lot of price action there. But once we get that break, we should shoot back up to around that at least 1850, you know, to 2000 with that price target being around 22 to 2250. All right, guys, so far we've covered the daily news. We've done both analysis on Bitcoin and Ethereum, including some price targets. If we get this bounce out and breakout from its current bull flag pattern. And now next, we're going to talk about some trade setups that we're going to be watching this weekend over the next three days, including today. So if you guys are enjoying this video, make sure that you are subscribed to the channel. Don't forget to turn on that notification bell and smash that like button guys. Let's get this video to over 100 likes. As always, if you have any questions about anything we're covering today, drop it in the comments. I'm always happy to answer those questions for you guys. So let's jump into some trade setups. All right, guys. So first off, we're starting off with Bitcoin of course. So this entry is going to be this first entry that we're going to be watching here is going to be above this Fibonacci level. Also, it's going to be up close basically with the descending channel. So we're going to be looking to buy above this channel probably on the breakout of this channel that 55 K area is going to be the number that we're watching. That's the first number we're watching. We want a breakout above 55 K. Obviously the time when it breaks out is going to also matter. So the number could kind of change depending how fast the price moves and what happens and when the time is. Because if we get it like right here, for example, this is just before 55 and the breakout here. This would be if the breakout happened in the next two days. Then we're talking about 56 K more or less as far as the breakout area here. But if we get a breakout at the end of the weekend or towards the beginning of next week, then we're watching this area right here where we have these two together. Regardless, 55 has been a big number. As you guys can see here, it's provided both support and resistances for Bitcoin. So that's going to be the first breakout that we're watching this weekend. If we do break out of 55 and continue up, then that next level we're watching is going to be right around this area right here where you've seen all this price action here. So that's right around that 57 57.5 area, possibly even 58. So we'll say 57.5 just to play right in the middle of those, but it's basically between 57 to 58. Remember guys that trading is never specific numbers is more like a range. So that's the range that we're going to be watching for that next breakout there above 57 above 58. So that kind of puts us right at 57.5. Of course, beyond that, we're watching the 60 K area where we've been rejected the last few times. And then beyond that, we're going to be looking at the previous all time high to enter above that. Now in the event that we continue, you know, just kind of consolidating maybe in this general area, what we're looking for here, what we're going to be watching for is entries at 52 K. 52 K is a number that we like there. So we're going to be watching for entries there, possibly even 52.5. That's a little bit riskier, but that's definitely also a possible entry there. And beyond that, then obviously that number is going to be right around here, which is $50,000. That's going to be that next level that we're watching. If it continued down and beyond that 50 $48,000 is that next level that we're watching for all of these. Obviously, the price has to dip in order to reach these. Remember that we don't enter trades on while the price is falling, we enter while the price is bouncing. So for example, if the price goes like this and it doesn't reach 50, but then it starts bouncing again, you're going to execute that entry at 52. So 52 would be your entry, right? And if it doesn't reach 52, then 55 is going to be your entry. So that's basically how we're looking to enter on bounces from support. In Ethereum, we're pretty much looking at the same thing here. That first entry here is at that 1,600 level, which is right around this range. So in the event that we're kind of doing this right here, that 1,600 level would be a good bounce entry there. Remember that we want a test and then a bounce up. That next level is going to be so I like 1650. The issue with 1650 is that it's kind of right in the middle of the range right now. But I still do like it because it is it's kind of in the middle. But I mean the middle will be right here in the middle of the channel. So it's still towards the bottom of the channel. So 1650 kind of where it's at right now is a possible entry. But that next that main breakout entry we're looking at is 1720. That's going to be that big number right there. That can take us out, you know, possibly back to 2k. So that's the level that we're watching there in the event that we do go lower. Then we're watching here 1560 and 1550. I don't think it'll go below that. But in the event that it did, those are the levels that we're watching. And that is a wrap for this week guys. We hit you guys with the news with you guys with some analysis. And now we hit you with some trade setups for this weekend that we're going to be watching. To hopefully make us all some profits. That's the whole idea of this guys is to not only give you the knowledge, but to show you guys exactly what we're watching to hopefully make all of us profits. So if you've enjoyed this video so far, make sure that you subscribe if you're not subscribed yet. Also make sure to smash that notification bell so that you guys are notified as soon as we're on. And smash that like button for us, man. We're trying to get over 100 likes again. You guys killed it on the previous video where we hit over 200 likes. So that 100 should be easy. So I hope you guys have an amazing weekend guys. I hope you guys make a lot and lots of profits. Next week I will be in Mexico. So Monday I'll be doing I'll be trying to figure out how I'm going to make my video. And then I'm pre recording some tutorials and then reviews for next week until I'm back on Friday to hit you guys with a brand new market analysis. So I will see you guys next week. As always, peace and love.