 $50,000. This morning, Bitcoin went over $50,000 for the first time since May 15th. We hit a high of about $50,500 and currently we're consolidating within that price range. But what's been catching even more headlines over the weekend is some of these outcoins that have been going nuts. You can see here Cardano over the last seven days is up 36%. Binance Coin has been making a comeback back at $500 up 17% over the last seven days. And let's not forget Solana, which is up over 300% from its bottom. So today we're going to do things a little bit different. Apart from the analysis on Bitcoin, we're going to look at a few of our favorite outcoins. So let's not waste any more time and dive right 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 to that next level. So if you guys enjoy this video, don't forget to smash the like button on it. If you guys are new to the channel, make sure to subscribe and turn on the notification bell. So let's go ahead and dive into today's video. So the first thing that we will notice here is that the fear and greed index is all the way up to 79 and is now in extreme greed. So you'll notice this is the highest that we've been in three months since before May, right? And if we go to the yearly, this is the highest that we've been since right before the drop. Last time that we were at 79 was around April 15th, April 19th. So remember that that is mostly overall market sentiment. That means that the market is very bullish right now. People are buying people are starting to fomo in euphoria is starting to set in as well again. And then what happens with those things is that people begin to over leverage positions with margin and that's why then we could have potentially big drops if there's any type of fraud because people get over leveraged, they get careless and reckless with their trades and they end up blowing up their accounts. So guys, make sure to continue to practice proper risk management in any trades that you're currently taking from here on out and take profits. That's so important guys, take profits. Make sure that you're setting up a cash position in case that there's any other corrections, any other pullbacks, you want to be taking profits as the prices go up, always and building up that cash position here at Bitcoin Daily. We like to keep around 10 to 15% of our portfolio in cash ready and prepared for, you know, when that when there's a pullback or any corrections or anything like that, we have money on the side ready to jump in. Alright, so looking at the Bitcoin weekly chart here, you can see that we've had one, two, three, four, five green candles in a row and currently we are working on this six green candle here. We have reached the top of this trading range. Remember, we told you guys that once we broke above 42, the next top of the trading range was going to be between 48 to $50,000. Guess what guys, we broke above 42 and we are now at the top of that trading range. Now we do have to break above here to get into this next trading range, which is up here, right? Now this next trading range goes from 52, basically around 52,000 up to the previous all time high. So if we break above this, basically we have a shot at setting up a new all time high here. So that's going to be very big for us to break. So to get into this trading range, we basically need to get above 50. We got to stay there and get above 52, I would say as well. And that'll pretty much clear out the bottom of this range here and put us on a trajectory to, you know, revisit all these levels over here. So that's between 55,000 all the way up to $60,000. If we can break through that, because remember, we got rejected a lot there last time we were there. If we can break through that, then it's only a matter of time, in my opinion, before we reach this previous all time high at 65,000. And if we reach this previous all time high guys, we're probably going to set a new all time high. Now that new all time high could be anywhere between, I would say probably around 70 to 75,000. You know, who knows at that point, we're still a little bit away from there. It's not something that's going to happen overnight, but it is now back in our trajectory. It is now a scenario again, you know, something that we did not have back when, you know, we were at these prices down here. So zooming into the daily charts, you can see that we're kind of in this ascending channel, right? Where we've been kind of going up to the top of it, we got rejected, we came back down kind of tested the top of that channel there came back to the top of this channel, then, you know, went back down a bit. And now it looks like we're heading back to the top of that channel. So that top of the channel is a right around that $52,000 resistance range. So it kind of falls right in line with where our resistance is. And it is a possibility. So what would it look like if it touched the top of that channel and then dropped back down, it would be something like this where we kind of go up to like around that 52 range. And then, you know, something like this where I would say we would probably be looking at around 50,000 to 48,000 as that pullback support before it then, you know, continues up to probably, you know, somewhere around here, probably around 55,000 if we continue within this channel. Now, remember I know everybody is very, very excited to have 50k again. I'm expecting some consolidation here and potentially a continuation up as long as we can close above that $50,000 level and continue staying above it for the rest of this week here, then potentially be, you know, we are going to eventually get a pullback, you know, maybe around 52,000 back down to 50 back down to 48. Who knows exactly, but it'll be one of those levels. Remember that you're taking profits along the way because we are getting back into that overbought territory. And you know, whenever there's we're an overbought, there's typically some sort of pullback. So make sure you're not being greedy, you're taking profits. And remember that in September, we haven't had a green September month since 2017. Now, so not even last year, last year's bull run in September, it was a red month. So if we look back here at September of 2020, you will see that the market was actually down about 7.5%. If you look at September in 2019, right here, then you will see the market was down 13.5%. So it's just something to keep in mind as we go into September, as we finish off August, you'll see that August last year was a pretty bullish month and July was a very bullish month. So we had last year, we had a very bullish July, we had a somewhat bullish August, not as bullish as July, and then we had a down month in September. Now this is something that could be possible here. As you see, we had the three down months here that then July were up about 18%. So far in August, we're up about 19%. September could be one of those months where the market's a little bit slow, where we consolidate a little bit, or it could just be very bullish. I'm just going based off of history. The last few years since 2017, we have not had a bullish September. So I want to make sure that you guys are taking profits on these climbs to the upside so that when there is any type of pullbacks or consolidation, where prices might retrace a bit, you're ready with those profits to reinvest them into the market and make those profits, make you more profits. At the end of the day, whether you're bullish or bearish, we are market participants. And the best way that you're going to make money is if you're prepared for either case scenario, and if you're playing the market in both directions. We can see here that Ethereum is finally waking up a bit. Today has been outperforming Bitcoin. You can see that it's up about 2.5% compared to Bitcoin that's up about 0.25%. So right now, we're still kind of in the middle of No Man's Land here. It's kind of what I like to call it, where the price could honestly go in either direction. It has no real direction here. But as long as Bitcoin is bullish, I'm expecting Ethereum to also be bullish here. Now, what we're looking next for Ethereum is a breakout above this 3,500 level. I believe that once we break out above 3,500, we could see a run up like we saw previously up to those previous all-time highs. So that'll be around that. It'll be from 3,500. We could see a run up to around 4,000 till the possibly the all-time high, which is right around $4,400. Now, I'm going to run through a couple of our favorite outcoins here at Bitcoin Daily and just kind of take a look and see where it could possibly be headed. After that, then of course, we're going to talk about some trade setups for this week to hopefully make us awesome profits. So if you guys are enjoying all of this, make sure to smash that like button on this video. It helps us out a ton with the algorithm. And if you're new to the channel, don't forget to subscribe as we're working our way up to 11,000 subscribers. We're almost there guys. We're about 400 away. So let's go ahead and jump in. So the first coin that we're going to take a look at here is Cardano ADA. It's probably the most trending coin the last couple of days. And by the way, it just hit a new all-time high today at $3.02. So a lot of people have been asking us about this coin. So let's go ahead and take a look at why it's been going to the moon for the last few days, right? So the first thing is that Cardano is going to be getting listed on a new exchange in Japan, as you guys can see here on the 25th of August, so in about two days. And the other thing, which is probably the most bullish thing is the Alonzo hard fork. So there is a hard fork on Cardano the same way that Ethereum recently had a hard fork this month. Cardano will be having a hard fork next month in September. This hard fork will be paving the way for smart contract functionality. Finally, after what feels like years of waiting for this, it's finally coming to Cardano. So very bullish on the long term of Cardano, very bullish on the short term as well with the fork coming up. Now, what's even crazier here is that we predicted this exact to move up in June. So in June, which was the last time that we did an analysis on Cardano, and I believe we did this analysis on a live stream, we predicted that if we saw a breakout here, we would get a move up to $3. You can see that we had our target set there at that $3 mark, and it was an 88% move up, right? So we didn't get that breakout there. Instead, we got a break down, which eventually got the bounce. Now, when it got the bounce, it hit a hard target of $3. That's the target that we were projecting on a breakout here. Now, it took a lot longer than expected, but we did end up getting that breakout finally after what? June, July, August, right? So we were a little bit ahead of schedule with our projection, but it did finally come and hit our target of $3 here. Now, with the fork coming up, because it's still a few weeks away, we still do project Cardano to continue its rally up, possibly going up beyond that $3 mark, maybe up to $350 to $4 would be the targets there for us if we were to just kind of take a guess, looking at the numbers and using human psychology here. So one thing to keep an eye on though, remember that we are very, very oversold here. And last time we were this oversold, we saw a pullback here. So earlier this month, we went up to a high of 228. We saw a pullback to 187. And now we're heading back up. So just be aware that there could be a pullback, especially if the overall market begins to pull back. For example, Bitcoin in September, something like that, there could also be some sort of pullback in Cardano, which could take it back maybe to around 250 to 240 range here. So that's something to keep in mind if you're deciding to buy now, you know, it's hard. People are going to be asking, do I buy right now? It's hard to say to buy now when it's at all time highs. This is when you should be taking profits, not really buying. But if you like the project for long term, you could start to dollar cost average into Cardano at this point. And as a, you know, if there's any drops in, you know, add in more, again, you don't really want to be buying when it's at all time highs, you want to be buying, you know, when there's pullbacks in Binance Coin, you see that we finally got over this Fibonacci resistance level here, which was also in line with that 450 range. And we just were at the $500 range right now. So currently the top of this range is going to be right around 540. So 540 is a target here currently on this move for Binance Coin. If it continues up, we can see 540, we could potentially break above that. And if we do break above that, we could be seeing, you know, we test of the top of this range over here once we get in this, in this range, right? And that's around that $700 area. So that's something that we're going to be watching in BNB. In Polkadot, you'll see that currently it's struggling to get above this, but look at this run, guys. Look at this run straight up, right? So once we break above that, I expect it to continue up and start testing that $34 to $35 range. Once we break above that, then we could get into that next range up here. And if we break above that, then we can see the previous all-time highs here that we spoke about many times. And we actually hit last time when we projected it there as well. So that's what we're watching there in Polkadot. In Chainlink, you'll see that we did just break above that previous resistance Fibonacci level there. And we're now trading within this new range. So top of this range is going to be right around $32. So we're currently at $28. The top is $32. So it'll be good to buy right around that $27 range if there's any pullbacks, you know, with a price target of around $32. And if there's a breakout above $32, that's also an entry that you can look for there to write it up to that potential next target, which is around $37. And Litecoin finally making a run back up after bottoming out around that $100 range. So I hope you guys bought that dip because that was an incredible price to get into. It's almost doubled already from there. And we can see that we're currently at a resistance here right around that $188, $190 range. So once we break above that, it looks like we can run up to with a minor resistance at $200. But the top of this range is going to be more around that $220 area. So with a break above this resistance and a break above $200, that's what you can expect. You can be setting some entries maybe around $175 or set up an entry above $200 for that breakout to write it up to that $220 range. You can see Matic had this massive run up and then a massive retracement, almost like 100% retracement from where it started all the way up. But now it's catching some momentum as well, just like every other project at the moment. Currently it looks like it's just breaking above this resistance here. So you see that it had trouble there as well. So this is actually a pretty good area here to enter a trade, right around that $160 to $150 range, right? With your target going to be, it's probably going to be around $188 to $2 that first target, then the next target will be around $220. So you could also wait for $188, a break above that, or a break above $2 to enter with a little bit more momentum there. The top target here is going to be its previous all-time high, which was around $2.80. Last one we're going to look at, guys. XRP, as you guys know, it's still in that case against the SEEC. So until there's some sort of breakthrough in that, I don't think we're going to see any massive run-ups or massive movements, even though we did see this big jump here. But we're going to be limited to this previous all-time high here. However, entries above $132 seems like a good entry for resistance there, with a target of around $160, or you can buy back at pullbacks around that $110 area, $115 area, looking at a target of around $130 there. Now people keep asking, where do I think it's going to go until the case gets solved with the SEEC? It's going to be under a lot of pressure. People are going to be afraid of getting into this, so it's not going to pump very much. You could definitely pump up again to where it was over here, or possibly back to that $170 range over here. But once the case is solved or whatever happens with the case, if it goes in the favor of XRP, then it could be running up past these previous highs, and finally retesting its previous all-time high, which was around that $3 to $4 range. Okay guys, I lied. I'm going to do one more coin for you gambling degenerates that are in love with Dogecoin. Here, you can see that we had the massive 80% drop off from the Saturday night episode with Elon Musk. And now we're currently kind of consolidating there. You can see kind of a bull flag there right around that 30 cent area, right? So if we get this breakout above 30 cents, then I could see it hitting this target up here. You can see that it hit the target here last time when it broke to that level. That's going to be around 40 to 45 cents like it did previously, or it could go all the way up to 50 cents, because if it breaks above 45, 50 cents is really the top of that next range. Now, it still has a lot of work to do, and I don't know if it's going to get that hyped again, where it can run up to these previous highs, but I never thought it would go up to 75 cents, and it did. So I mean, it is a possibility. Again, I don't invest in Dogecoin. I do not have any money in Dogecoin, but for those of you who choose to do so, that's basically what I'm looking at right now. Alrighty guys, so this video has run a little bit longer since I added in all those outcoins. So let's do these trade setups really, really quickly for Bitcoin here. I'm of course, looking at entries above 50,000. At this point, I'm risking around 2% probably, and I'm looking for pullbacks at 48,000 for another around 2% risk there. And in Ethereum, I'm going to be looking for the breakout above 3,400 for about a 1% risk, breakout above 3,500 for about a 2% to 3% risk on that. And of course, if there's any pullbacks back to $3,000, I'm willing to risk about 2% to 3% on that as well. Thank you guys for sticking around. If you stuck around this long, make sure to smash that like button. It takes us a lot of effort and money to create these videos. So and it costs you $0 to just support the channel. So I appreciate it greatly. It helps us a ton. And if you're new here, don't forget to subscribe. We're posting videos weekly, multiple times a week. I'm trying to do five times a week. Sometimes we do a little bit less, but we're working on that as well. Thank you guys so much. Let's have a bullish green profitable week this week. I'll see you guys on the next video. As always, peace and love.