 Bitcoin finally closed for the first time above $50,000 over the weekend. This puts us on track to hit our price target of around $55,000. Ethereum has also been on the tear, hitting $4,000 for the first time since May's drop last week. We are now only 11% away from the previous all-time highs set in April. And Bitcoin is only around 25% away from those same all-time highs. So let's go ahead and dive into today's analysis. 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 guys, the community, with the knowledge and resources to take your wealth up to that next level. So if you guys are new here, don't forget to subscribe. And if you enjoy this video or any of the videos on this channel, make sure to smash that like button. Let's go ahead and jump into today's video. So with another month in the books, you can see that in August, we had another green month, guys. We were up around 13.5% for Bitcoin. And so far, we've had a good start to the month of September, even though historical data suggests that September is usually the worst performing months, not just for crypto, but for the markets overall. So far in Bitcoin, we're up about 9.5% as we're actually hitting 52,000 right now. If we zoom out to the weeklies, you can see that basically since mid July, we have been green. We had one, two, three, four, five green candles in a row. And we had a basically a flat week where we really didn't go anywhere. And then last week, we closed up another 5.5% and and then so far today, you know, not much movement as of yet today is a holiday in the United States. So there's not going to be a lot of volume from the US today, maybe tomorrow, when everyone's back into the markets, we'll see a lot more volume, but I don't expect too much volume today. All right. Now, looking at the daily, you will see that we are still writing this channel here, guys. You see that this ascending channel ascending support here, we've been able to use it to bounce off of it and continue this bullish price action to the upside. You'll see that we continuously just kind of rode up that ascending support there and popped up over this Fibonacci level and the $50,000 level and a lot of different resistance levels that we had there. So now we're pretty much, if we can get above 52, 52 is that next minor resistance. We're pretty much have free reign up to about 54 to $55,000. You will also notice that we are almost about to get this golden cross. So remember, the golden cross is when the 250-day moving averages cross and you can see that they're getting closer and closer. At this point, it is only a matter of time. If we kind of draw a continuation of the direction that the two moving crosses are heading in, you'll see that it gives us about a four days. It basically is saying that this week we will get that cross and the cross right now just with this prediction that we drew, it gives us the 10th of this month as the day that we could potentially where they might meet. So we would get the cross basically maybe the next day. So basically the projection right now for this golden cross, which is of course a very bullish signal is for around September 10th or so. So it's definitely it would be at the end of this week. So that's something that we will, of course, be watching as that is always a very, very bullish signal. If we pull up the volume shelves here, you will see that across this, like we've been speaking about, you know, once we get above this 50K, this, the interest just drops. There's a gap in open interest here. So that's why we're expecting very similar to when we saw this gap right here that we just kind of grind it up over the next few weeks. We're kind of expecting the same thing here where we will inevitably grind through this rather quickly and get up to that 55 to $56,000 range. The big resistance, the next big resistance after 55 is going to be 58. And then after 58, there is a drop off. But remember, there's a lot of resistance at $60,000 where we've been rejected multiple times there. So currently, what we're watching here is we just want $50,000 level to hold, right? We just want this level to hold as long as that holds, you know, we have a lot of support there. So remember, 50,000 is now flipped from resistance into support. It's a big psychological level overall. We have the Fibonacci retracement level here. We have the ascending support here as well. So we have a lot of support in this area here at 50,000. I don't think we go below it, but there could be, you know, maybe a one time wick off below it to kind of stop people out before getting the next leg up. You know, Bitcoin loves to do that. So in the event that we go below it, that will be the reason that I believe we go below it. But, you know, unless there's some very bearish news, I don't see a reason why we would drop back down below that level at this point in time. Moving forward this week, I'm expecting the prices to continue to grind up and potentially we see the top of this channel here at some point soon. So the top of that channel was currently right around. It would be right around that $58,000 level, which is another resistance level after we get through 52 and 55. So remember, currently, the minor resistance is at 52, a break above 52 should lead us up to around that 55 range where we could kind of bounce around a little bit before a continuation up to 58, the 58 to 60,000 levels. And then a break above 60, you know, pretty much we can see that previous all time high being tested at that point. So we're very close to that. I'm not going to say it's going to happen this week because we still do need to get through a lot of areas here of interest, but we're only 25 percent, a 25 percent move away. It is a potential to see that happen this month, or at least half of that around a 12 and a half percent move further up this month. And then in the fourth quarter in October, then have that, you know, start shooting for that previous all time high. And I believe we set, if we continue in this trajectory, we set new all time highs October, November, December. What those prices are, who knows, it could be anywhere between seventy, seventy five thousand dollars, potentially a hundred thousand will be the higher the top end of that move. So, you know, it's still a toss up on where that could take us that leg up that next leg up. But that's currently what we're watching as of now. And as more develops, we have, we could have a better idea of what to expect. In a theorem, we've seen this massive, massive move since the 20th of July. So in the in the last about month and a half, we've had a move of around one hundred and thirty five percent, guys. So you more than doubled your money if you were buying at the at the Lowe's here in July, even if you bought at the Lowe's back in June or at the Lowe's back in May. So if you were buying the dip, guys, all those entries there have already doubled up. That's why we continue to tell you guys throughout that time to buy the dip. So if you bought the dip, congratulations, guys. You see here that we finally broke that level that we spoke about. Remember, we spoke about thirty five hundred as our favorite level for that next entry while we got that break. You guys can see why it was a level that we're watching, right? As soon as we broke through that, we got a eleven percent candle to the upside and we've just been grinding up. So we broke through thirty five hundred and we basically went straight to four thousand dollars. We hit a high of four thousand thirty five dollars. And we've been consolidating ever since. And I expect a continuation once we break above four thousand. I'm expecting the prices to retest those previous all-time highs. I'm definitely very bullish on Ethereum. I expected to continue up and set up new all-time highs. Remember that Ethereum coins are now being burned daily. Hourly every minute, really. So that scarcity is starting to come into play. There's still that next update, Ethereum 2.0 coming next year. It's only a matter of time for Ethereum to just take off and and, you know, possibly hit that ten thousand and beyond prices. Now that we've broken through this level here, you can see that this next price range is the bottom of the range of the trading range. Here's thirty five hundred. The top of the range is going to be that forty four hundred previous all-time high. So guys, it's only a matter of time here before we break those all-time highs. It's, you know, it's basically a ten percent move away. Ethereum does that in one day, usually. So don't be surprised, guys, if we get look at this move here. This move was eleven percent. Don't be surprised that we see a test of that all-time high, you know, on that next leg up. We spoke about this on Monday's video, guys. We we we called Monday's video, Ethereum's next leg up. And that's exactly what we got here as soon as right after that. Let me see the thirty first was on Tuesday. So we posted the video on the thirty first. You can see that we tested thirty five hundred. And then on September 1st, we had take off. We got the next leg up here that we spoke about on Monday's video. So hopefully you guys watch that video, paid attention and, you know, just made some trades here because if you guys did very easy profits, you could have definitely done about two hundred percent on that move or so because we had a six percent move and eleven percent move. So easy two hundred percent trade there. If you guys use ten X leverage, right? All right, guys, so let's go ahead. And now that we've analyzed both Bitcoin and Ethereum, let's take a look at some possible trade setups that we're going to be watching this week to make some profits. If you guys watched Monday's videos, you guys made profits on our trade setups. So our trade setups on Monday's video was a break above fifty thousand dollars. You guys can see we're at fifty one seven and we hit a high of fifty two seventy one. So yeah, guys, we that was a massive move up from Monday's video on that trade setup. So let's talk about today's trade setup in Bitcoin. If you guys are enjoying this video, don't forget to smash that like button. If you guys are new to the channel, then subscribe and turn on the notification bell so that you guys are notified as soon as we post these new videos with new analysis, new trade setups and tutorials that we post all the time. So don't forget to do that. So let's go ahead and talk about the trade setup that we're watching this week. So the main trade setup that we're watching here is that break above fifty two hundred. You can see that it already broke fifty two hundred here, but it got rejected. So we got pushed back down. We're going to continue to play that level, guys, above fifty two hundred. We want to take trades there because there's the potential for it to ride out to fifty four to fifty five thousand dollars, which is our price target here. And then that next target is going to be fifty eight thousand. So big potential there. The same way there is potential for the fifty thousand dollar break to hit fifty two. Now that fifty two break, there's potential work to hit fifty five thousand dollars. So that's the trade we're looking for. If there's any pullbacks here, then of course, the level that we're going to be playing is fifty thousand dollars. As you guys already know, in the beginning of the video, we told you it is a big support area. So that's where we will be looking for some bounce entries in a theorem. Right now, the level that we're going to play is pretty simple, guys. Four thousand dollars. The break above four thousand could lead us all the way back to the previous all time highs at forty four hundred dollars. So that's the breakout entries that we're looking at. If there's any pullbacks, the first pullback entry is going to be down here at thirty eight hundred dollars. That next one will probably be around thirty five to thirty six hundred dollars. So those are the two pullback entries that we're looking at. And then the breakout, of course, above four thousand. And we're going to just try to ride it out to the top here, our target of forty four hundred and beyond. That is pretty much it, guys. We've covered everything that we wanted to talk about in today's video. And we gave you guys a trade set up for this week. So hopefully you guys watch the entire video and wrote down those trade setups, set those trades up, those entries up so that if they hit, you can make some profits with us. Thank you guys so much. I will see you guys all on the next video. Have a great week, guys. As always, peace and love.