 Did you buy the dip on Monday like we told you to if you did Congratulations You smart you loyal if you didn't You guys missed out on some crazy profits today We're doing a recap from the week Including the trades that we gave you guys for free on a Monday and now I know I know you guys are a little bit worried About the weekend sell-off even including today's sell-off So we got some good news and some bad news for you guys as we look at the charts today We're gonna tell you exactly what the charts are showing us and then guess what guys we're gonna give you guys More trade setups for this weekend that we are personally going to be looking at to possibly Be taking if the setup becomes a reality So stay tuned till the end so you can see exactly what we're seeing in the charts right now in Bitcoin any theorem and then stay tuned For some trade setups for this weekend. Let's dive right in Hey, what's up guys Jay here and welcome to Bitcoin daily bringing you guys the best tips tutorials and trade ideas to help you guys become successful and profitable traders the goal of this channel is to empower you guys with the resources and Knowledge to help you guys get to that next level So make sure to subscribe like and share this video guys hit the notification bell So you guys are notified as soon as we post these videos because sometimes we share some trades and you don't want to miss out on these Profits, trust me So the first thing that we're touching on today is a recap from the trades that we gave you guys on Monday remember we give you guys trades every single Monday and every single Friday Monday is for the week and then Friday is for the weekend. So let's dive right in guys So the first trade that we gave you guys on Monday was that Bitcoin trade and this was the exact trade that we gave you guys Are you ready? So the trader was a breakout entry above? 35,000 right so let's look for 35,000 here This was a Monday right here when everything was down here, right? You saw that we were down at the 30s We also spoke about that 30,000 entry But I think after the video was up it didn't touch 30 again So that the only entry for Bitcoin at that point was 35k and look at this guys Look at this breakout. Look at this beautiful breakout right above Soon as it broke through this 35k level look at 35k right here soon as it broke through there Boom it just took off. Look at that. So this ran up all the way as high as what was the high on this one? 40,163 dollars. So if you guys took this trade from 35k and wrote it up to 40k You guys made a hundred and forty two percent profit if you use 10x leverage like we do So congrats on that. Even if you use 5x leverage, you still made half of that. That's over 70% profit Amazing trade guys. The next trade that we took was in Ethereum We told you guys that we were entering at 1k whenever it tested 1,000 and as you guys can see tested 1,000 a few times here So we were able to enter that trade and wrote it all the way up to what was the high here 12,055 dollars guys if you wrote this from 1,000 to 1250 you guys made did a hundred and twenty five percent Profits using 5x leverage And then the second entry if you did not catch the thousand dollar entry We gave you guys a second entry, which was the breakout entry, right? This second entry was on this breakout right here guys. We called this breakout right here that if it broke 1100 We would enter a trade and that wrote up all the way to 1250 and that one and that one was 68% profits if you use 5x leverage and if you entered at 1100 guys so congrats on anybody that took those trades Congratulations. Congrats to these guys right here who have taken some of our trades from our videos and made some profits on them As you guys can see congratulations to all of you guys now if you miss these trades There's no need to cry because guess what today? There will be more trades that we're giving you guys for free for the weekend. Tell me who does this right? All right guys, so the first thing that we're looking at is Bitcoin here We just kind of want to get an idea of where we are as far as chart patterns and what we can expect so the first thing here is You know when we bounced here on Monday, we kind of wrote up a bit We formed a bull flag here, and then we had that bull flag breakout as you guys can see And then we formed kind of another bull flag, right? But as you guys can see look at his drop right here, and that's currently where we're at. So we formed another bull flag, but we Broke down from the bull flag, right? So this is a situation now now that we've broke down from that bull flag We're currently on this support right here, which is 35,000. I mentioned this on Instagram guys earlier today While this was dropping. I told you guys that this was the support we're looking at now How do I know how did I know that this was a support? Right? So The first thing is this is a Fibonacci level, right? This is a 38.2% Fibonacci level. So that's the first thing I looked at So I knew instantly this was an area of interest Second thing was If you look over here, you know, if you look back on history, you can look back here price action, right? There's a resistance if you look right here. There's a lot of consolidation. That means there's a lot of price action there If you look right here consolidation, if you look here a lot of resistance It will support the resistance and so then you know, then it broke out and then now that it's coming back down Boom, it is now support again. So that combined with the Fibonacci level told me that this was clearly an area of interest where People would try to hold the price up, right? So now is this good or bad that we're currently going down So the first thing is as long as we hold here and we close And we close above this area, right? Then we're fine because look what's happening right now This was the low, right? Then then we printed a higher low and then this would be a higher low So we'd be printing From this low a higher high higher low higher high higher low So the next step would be Higher high right so we would need this to bounce up here and we'll form another higher high then I would expect Dropped here. This will be a higher low and then break out. That's currently One scenario that could happen, right now if we were to continue down, right? We have to we have to look at we have to look at it from every aspect We have to look at it from every case scenario, right? So if we were to continue down the next support is right here now This is that would be the 50% Fibonacci zone and as you can see There there's price action here price action here price action here So this would definitely be another area where I'm watching for price action, right? I know that there would be some sort of price action here Buyers would be coming in now would it be enough to hold the price up? We don't know yet, right? That's kind of the same thing is here. We're waiting to see what happens Now the last support if we were to drop from there Then we'd be testing back where we tested on last week, right that 30,000 range Which also happens to be the 61.8 Fibonacci level, which is also known as the golden ratio Now we're going to talk a little bit about the bearish case for this, right? What we're watching is that we made a top here. This is a new all-time high And we which we got rejected and dumped down to 30k, right? Now we bounced at 30k But if we drop right which we're doing right now if we continue down what could happen here is this Right. So what what does this mean? This means we went from the high To a low right to a lower high to a lower low So that would mean that from here we'd be expected to bounce around this 28k range Then we probably bounce up, you know kind of around around it could be anywhere between 30 Then we could bounce up anywhere between 30 to Um, you know, maybe up to 35 This whole this whole range here. We we'd be able to bounce into and then possibly drop down to around 24 25k And that would set up another lower high and another lower low And this can kind of continue this way all the way down To I would I would think around 20k. I would I wouldn't think that That they would let 20k get violated, right? But this is something just just putting this idea out there for you guys because remember this could go either way Um, we are bullish right now and we are in a bull trend, right? If we switch over to the weekly you guys can see that we're still in oversold territory Now the thing with the rsi being an oversold territory like it is right here Is that it can stay in oversold territory for For a pretty long time as you guys can see the weekly rsi has been In oversold territory it crossed over in october So october november december January, you know what I mean? So we've been in oversold territory for about four months now, right through four months So if we look back at 2016 17 Whenever the rsi was oversold on the weekly eventually it had to come back down as you guys can see right So for it to come back down the price also had to go down Then as you guys can see here went back oversold and boom we went back down, right? Now the good news is you saw how many times we were oversold and then dropped back down in 2017 While this is only the first time that we're In oversold territory during this bull run. So we don't necessarily need to drop So instead of that big drop, we might just kind of do this right here, right? Where we stay below this descending resistance, but above 30k Now what you guys have to remember at the end of the day Bitcoin does whatever it wants to do, right? It doesn't always play by the rules and it doesn't always play by the technical analysis We just might not have Uh movements this month like we did back in december and november because we were so oversold right now, right? So we got a the price just has to cool off a bit It might have to just chill before Taking off or it could just be like I don't care if I'm oversold. I'm just gonna go all the way to 50, you know I mean So taking a look at ethereum you guys can see Very similar patterns to bitcoin as it is very very correlated with bitcoin guys big picture We're gonna take off, right? Now what we're seeing right now on the chart you guys see a current bull flag right there We've just kind of been in this range Um, you know, we've con we've gone under it a few times, but we're mostly within this range right here If we drop below this current support right here, which is that 1100 uh area Then we're looking at basically the 50 cent support here. Um, which is also around the um the thousand dollar mark, right? And then the golden ratio is going to be down here around $950 which is kind of more or less where it went to last time last time I went down To about $900 almost so we're kind of seeing the same thing here, you know We we topped up here Then we dropped and then from the low right here. Um, we've had a higher high Higher low higher high And if we are able to hold here, then we're going to have a higher low So from here if we get this bounce, we should definitely go at least back up to here Which is around that 1300 to 1350 dollar range um for another higher high um, then you can expect a Higher low priority right around here, which is around 1200 And then um, I'd want to see if we can finally test that all time high Now the bearish case scenario is a little bit different, but it's the same thing as bitcoin We had this high then we had uh this low now we have a lower high And we could possibly have a lower low All right guys next we're going to go over some trade setups that we're watching for this weekend um, we're going to give you guys, uh some entries that we're looking at and uh, Hopefully we're able to make you guys profits Guys, if you haven't done so yet make sure to hit that subscribe button and hit the like button Also drop a comment. Let us know what you think where the price might go. What are your thoughts and opinions? We always appreciate everyone's different opinions. We like to see where everyone's heads at Subscribe subscribe subscribe and like the videos So this this first trade is obvious, but risky, right? So that 35 k area is kind of where you would want to enter which we're currently at right now um, however The stop you would have to use is under the low of the day, which is right here So you're going to need about a $1,000 stop Um, so in order for this trade to make sense You would need at least a $2,000 reward Now if you look at the chart, you see that the next resistance wouldn't be up to around 37,000 Um, and if we're using this descending resistance here, it's up around 38,000 This trade all depends on personal risk tolerance Um, if you can tolerate a $1,000 drop and stop out and that still be less than like 4 percent of your portfolio overall As long as you position it in that way Then it makes sense for you to take that trade If not, then I would not take this trade the next trade I'd be looking at would be probably above this current candle right here That's right around 36,400 or so So you could possibly play the 36.5 or you could just go ahead and play the 37 Now the issue with 37 is that right around 37.7 0.8 0.6 This zone right here. There's an area of resistance. That's why I don't really like that 37 You could still play but you just have to make sure that you're taking profits around 37.5 Because you have resistance right up ahead, right? So on ethereum kind of the same thing We're watching here watching these same Fibonacci levels So I'm looking to take an entry around that 1100 range, right? Which is right on this support I would like a bounce. I would like to see kind of a bounce just like it did here and a pick back up The second entry I'd be looking at would probably be above this 1200 Fibonacci level I'd be using that with a with a top of it looks like there's this going to be resistance up here at 1250 And the next resistance is probably around 1300 That is it guys. I hope you guys have enjoyed this video If you feel like you've received some value from this content then go ahead and subscribe to the channel and hit that like Make sure to turn on that notification bell as well It has been a great week guys Every single video that we have put out has got over 1000 views for the first time on this channel So I want to take this time to tell all of you. Thank you. I appreciate you Till next time guys. Happy friday. Enjoy your weekends. Be safe as always peace and love See you guys on monday