 Bitcoin spent all weekend long teasing us with a possible new all-time high break out. We went up as high as $61,500 on Friday and even hit $61,400 earlier this morning, but still no new all-time high. It's inevitable, right? There have also been a lot of bullish whispers with Coinbase set to IPO this week. That could be the catalyst that Bitcoin needs to not only break this 62K level, but to go up to its $70,000 level that we've been speaking about for the past couple weeks. But that's not all. There has also been talks about Walmart possibly coming into the crypto space. Oh yeah, and of course, I'm giving you guys some trade setups, all that and more coming up. Hey, what's up? Jay here and welcome to Bitcoin Daily bringing you guys the best tips, tutorials and ideas to help you become profitable and successful investors. The goal of this channel is to empower you guys with the knowledge and resources to put it all together and take you up to that next level. So if you guys are new here, make sure to smash that subscribe button, turn on the notification bell and smash the like button like it says something about your mama. So as you can see here guys, it has been a crazy week with Binance coin going up 54% over the last seven days and hitting a new high of $638. This of course coming after the news that this month Binance will be burning more coins therefore making it more scarce, therefore making the value of it go up. But believe it or not, Binance was not the winner in the last week. As you guys can see, XRP has come back to life yet again up over 60% in the last seven days. This is the highest that XRP has been since January of 2018, three years guys. The fear and greed index currently sits at 74 so not too much greed yet. So in market news, the five largest regulated US digital asset managers are currently holding over $46 billion in crypto and of course leading all of those is grayscale investments and then we have Pantera Capital Management, Bitwise Asset Management, Galaxy Digital and Wave Financial. These guys are making tons of profits. Bloomberg Intelligence said that Bitcoin is a caged bull and it's ready to escape $60,000. They said that Bitcoin supply is currently declining and demand continues rising. In other news, Galaxy has now put in an application to create a Bitcoin ETF. So now we've had multiple requests in for a Bitcoin ETF but none has still been approved so we're still waiting on that. That is going to be another Bitcoin catalyst once that gets approved. MicroStrategy is now paying the board of directors in Bitcoin instead of cash because cash is trash. They said going forward, non-employed directors will receive all fees for their service on the company's board in Bitcoin instead of cash. Like we've said before, on-chain data suggests that no bull market top at $60,000 because selling activity continues declining. In NFT news, Topps baseball card maker and the Major League Baseball Association will issue official NFTs. So I don't know if you guys have heard of NBA Top Shot. If you haven't, I will be dropping a tutorial on it tomorrow but now Topps baseball card maker is going to be issuing the same type of thing and basically selling cards online as NFTs and creating an entire market for the Major League Baseball. And last but not least, Binance allows users to trade tokenized stocked tokens starting with Tesla. Users will be able to purchase as little as 100th of a Tesla share with prices settled in Binance USD. These will be zero commission digital tokens that qualify holders for returns including dividends. So basically Binance has been killing it and now you see why its price has gone up to new all-time highs. Before we jump into the analysis, we have to cover these rumors about Walmart. So there have been whispers that Walmart might be putting a billion dollars worth of Bitcoin in their balance sheets. This would be revealed on its next quarterly earnings report. Walmart says it will report before market open on May 18th. So we still have a month and some change before this happens but this is definitely going to catch a lot of eyes and ears and a lot of people are going to be watching out for this. So Clancy Rogers is convinced although no purchase has been announced that Walmart's inevitable allocation to Bitcoin will jumpstart a ripple of hyper-Bitcoinization. Now what would this mean for Bitcoin? I would imagine that it would be like Tesla that at first they put Bitcoin in their balance sheet and then they started accepting Bitcoin as a form of payment. Walmart could do the same thing. If they put Bitcoin on their balance sheet then that next step would be accepting Bitcoin at their stores and they have over 11,000 stores. Remember that Walmart has been battling it out with Amazon trying to compete head to head. So maybe the edge that it's missing is accepting Bitcoin as a form of payment in their marketplace online. It might start off just on the marketplace and then they could roll it out to their stores. That's what I would imagine. This would be huge because now every average Joe is definitely going to hear about this because the average person has no idea what MicroStrategy is but everybody knows what Walmart is. So this could be the catalyst that takes Bitcoin beyond $100,000. For news like this I would expect nothing less. Alright so let's go over the trade recaps from the weekend from the trades that I gave you guys on Friday's video. So that first trade I gave you guys was that Bitcoin entry at $58,500. So you definitely had several opportunities here to enter at that $58,500. You had the first opportunity there actually on Friday. Then you had another opportunity here on Saturday. So you had two different opportunities to catch this $58,500 entry from Friday's video. And that ran up of course all the way to $61,500 or $61,400. If you had any of those trades and you used 10x leverage like we did you would have done around 50% profit on those trades. The second trade we gave you guys was that $60,000 entry. If you guys would have hit that $60,000 entry either here or here and wrote it up to the top you would have done around a 25% profit on those trades if you use 10x leverage. In Ethereum we told you guys we're entering trades above $2100. So if you guys were able to catch that trade that did about 23% profit if you wrote that to the top. If you didn't catch that one we gave you guys $2150 as that next number which would have been around there. If you would have caught that to the top you would have done around 11, 10 to 11% profits on there as well. We were using 5x leverage on those trades. So let's go ahead and jump into the Bitcoin chart and see what has developed since Friday. So on Friday we spoke about this flat top ascending triangle pattern that we were currently watching here on the daily and four hour charts. As you guys can see here on the daily we have been trying to break out. So we did break out of the bull flag. Remember we had this bull flag like that and we had this move up like that and we broke out of that. We spoke about that move on Friday it ended up happening on Saturday. So Friday it attempted it and went back down then Saturday it took off and we broke $60,000 but now we've come back down to test $60,000. So $60,000 is basically the top of this pattern of the flat top pattern that we've been watching that we spoke about. So what's going on here? Now this happens a lot a lot of times. There's always a breakout and then a retest. So we're just currently what we're doing we're retesting this. Now we need this daily candle to hold here as long as we can close this candle above the $60,000 level then that's kind of that retest. And then that can help us just continue up to retest that $62,000. If we zoom in a little bit here then we can see what's been going on on the four hour time frame. So you can see we broke out of it then we kind of came back down and then we've just been consolidating here in this range. So this is pretty much a retest a breakout retest and then now we need this to basically close above we need to close above $60,000. And that can help us continue to this upside to retest the previous all-time high which I believe is going to happen when Coinbase does its IPO. That's probably going to send a lot of bullish momentum and sentiment throughout the price. And I believe should shoot up Bitcoin to retest this previous all-time high and beyond. As you guys already know, we spoke about it in length on Friday. My target here is $70,000 for Bitcoin. So I'm still watching that $70,000 mark and I believe that currently we're retesting. We broke out of that flat top. We're retesting it and I'm looking for the continuation up here. So this is a good level to buy in here at the 60k level. We're just under it right now at 59.8. So we might see some more consolidation here before a continuation up. I see it continuing up. I don't see any reason why we would not go up this week, especially with the IPO from Coinbase coming this week. So if for any reason we were to drop, the level that we're looking at is going to be that 58k level. So that drop would come towards here. And then this is where we would retest that ascending line here. So that would be around here. It would probably drop more towards this side. So right around that 58,500 level, which is the exact level we gave you guys to enter on a breakout trade. Remember, gave you guys that exact level there that might, that could be a level that we retest if we were to get knocked down for any reason. I don't see a reason why we would go any lower than that on any type of pullback down here. So that's my view for this week on Bitcoin. Now, one other thing to note here for Bitcoin is that look at the Bitcoin dominance. We're currently at what is it? Two year lows. This is the lowest the dominance for Bitcoin has been in the last two years. So look at where we're at right now, 5560. Last time we were at this level was in April of 2019. So literally two years ago. Now with a move up, right? If Bitcoin does move up and breaks that all-time high and continues up, the dominance should skyrocket up again. If it doesn't, this is going to, as long as Bitcoin's price stays around this area or continues to grind slowly up and the dominance continues to grind slowly down, like it's been here. This is what sets off out-season, right? Out-coin season. This is why so many outcoins have been running. So this is good for outcoins. If it were to the dominance were to continue down or stay down, but the price stay kind of where it is or continue up. So this is why a lot of outcoins have been running up lately because the dominance is coming down. So what does Bitcoin dominance mean? When it comes down, it means that money is flowing out of Bitcoin and into other cryptocurrencies. And what happens when the Bitcoin dominance goes up? That means that money is flowing out of the other cryptocurrencies and into Bitcoin. So basically what this number represents is the percentage of the market that Bitcoin owns. So right now in the cryptocurrency market, Bitcoin owns 55.5% of the market, right? So half the money, over half the money in the market is in Bitcoin. Then the other 45% is in outcoins. That's why when the Bitcoin dominance goes down, outcoins go up. And when Bitcoin dominance goes up, outcoins go down. So a move in Bitcoin to new all-time highs will trigger for the dominance to possibly go up. And outcoins would probably go down for a short term. And then when Bitcoin began to consolidate again, like it has been the last couple days or weeks, then the dominance would probably go back down as money flows back out of Bitcoin into outcoins and outcoins would run again then. So it's just something to always keep in mind when looking at and analyzing the market is to know where the Bitcoin dominance is. So you can see where the money is right now at the moment. But remember, as soon as Bitcoin breaks up, that always triggers dominance to go up because people are gonna FOMO into Bitcoin. So they're gonna panic out of outcoins when they see their outs going down and they're gonna FOMO into Bitcoin when they see Bitcoins hitting new all-time highs. In Ethereum, we're pretty much seeing the same thing. We saw this big bull flag here. Remember, we spoke about this on Friday and then we saw the breakout here. So remember, I told you guys that my target for this bull flag breakout was up here and this is around that $2,480 to $2,500 area. So that area is my next target. Remember, my first target was right here around that $2,250 range. And we're almost there, guys. We've hit $2,200. We haven't hit this yet, but that's the first target. My next target, once we hit that, is now $2,500. Remember, we got these targets by calculating the size of the pole in these bull flags and then setting them where the breakout happened. So for this one right here, the breakout happened right here, which is why we put the pole there. We measured the bottom of this breakout to basically the top here and it gave us that price target. And then now we've done the same thing here. So that's our new price target that we're going to be watching here is going to be that $2,500 once we complete our previous target of $2,250. So as you guys can see here, we zoom into the four-hour chart. We had the clear breakout right there. That was around that $2,100 level, right? That's the exact price level that I gave you guys on Friday's video to enter on the breakout. And we've gone as high as $2,200, you know? Depending on what exchange you're on, we've gone up as high as $2,200. I know on Bybit, it's a little bit higher than that. But now we're consolidating again. So we went up new all-time high and now we're kind of consolidating kind of another, it was another little small bull flag here. And it looks like it got, it tried to break out here, got rejected. So we're back into this channel, but I'm expecting it is a mini bull flag. I'm not expecting this to go on for too long. So we should see some sort of tests again of this upper range. So this channel here, the top of the channel there is going to be 2150. So that's a possible level to look at for a breakout. And then of course, you know, we have to break above that. In another scenario, if we continue kind of like this, we could end up retesting this, which is right around that 2050 area. And that would be a retest of the channel that we were in previously. Like I said, in Bitcoin, that happens often after you break out of a channel. A lot of times the price could go back, retest it before continuing up. So that could be something we see, but I don't see it going much lower than that unless just something really bad happens. I don't know. I don't see any reason for Ethereum to go that low. All right, guys. So far we've caught up with the crypto news. We are getting prepared for that Coinbase IPO. As you guys know, then we did an analysis on both Bitcoin and Ethereum. So we more or less already know what we should be expecting from it this week. And now next, we're going to go ahead and cover some trade setups. I'm going to give you guys the exact trade setups that I'm going to be watching to make some profits. So if you guys are enjoying this so far, make sure to smash that like button on this video. If you have any questions, go ahead and ask them in the comments. I'm always happy to answer those. And if you guys are new here, if this is your first time or if this is your 100th time watching this video, but you haven't subscribed yet, make sure to smash that subscribe button and turn on the notification bell. All right. So the first thing that we're going to be looking at is Bitcoin. The first trade that we're looking at is going to be that 60K level. It has to be, right? We've seen there's been a lot of consolidation here. So you could do one of two things. You could either as soon as you're breaking that 60K level, jump in and manage your trade, right? Once you're in profit, I would say once you're about $100 into profit, jump into the trade and move up your stop losses, right? Start trailing tightly with your stop losses. And what this does, it prevents you from stopping out in a loss, you know, if it doesn't go all the way up. But on the con side, the pros and cons, right? The con is that it might stop you out in profit, but then continue higher and you're not going to get that, right? So your choices are to either do that or just have a wider stop. Now, if you want to have a wider stop here, you're probably going to have to have a stop below 59K possibly, which is right below here. You know, that's 59200. If you're trying to be loose with a stop loss, you have to be at least under 59500, right? And if you want to be extra loose, then you would be under 58, under this candle pretty much, which is around that 58500 level, right? What I would do if you were trying to do that, if you want to kind of DCA your way down, I would put a new order right around that 58, 59200 level and then another order around a 58500 level and kind of, you know, dollar cost average your way down. And then once it's back in profit, then you could take profits whenever you want. But yeah, I'm expecting this to, I'm expecting on Friday's video to be saying, I told you guys that we're going to hit new all-time highs, right? So hopefully I'm right. We'll see in a few days. The next entry that we're going to be looking at is of course above this new all-time high, right? So if we hit our previous all-time high, I'm sorry, I'm expecting momentum. I'm expecting people fomoing in, people that are trying to short, they're going to get, you know, it's going to get, their stop losses are going to get triggered. So we should see momentum here, which should lead a Bitcoin up, right? Now how high is hard to know. My overall target of course is 70, but we could make some pit stops on the way, right? We could stop at 63, 65 possibly. So it will have to wait and see. There's really no telling. My overall goal is 70K. And I know we'll make some pit stops on the way. On any pullbacks this week, then I'm looking at 58,500. Same level as Friday's trade. That's going to be the level that I'm looking at. Below that, I don't think we will go below that, but below that will probably be around that 57,500 range. In Ethereum, pretty much the same thing guys. I'm looking for a break above 2200, right? That's going to be my main trade. I'm willing to risk a little bit more around that two to three percent range. Now on the riskier side, there is 2150, which could possibly be the breakout above out of this bull flag, out of this channel right here, right? So that's going to be a little bit riskier. So for those trades, I'm only risking one percent or less on those trades and making sure to use low leverage, right? Now if we continue on this channel and we test that 2100 level like we did today, we actually touched 2100 today, I'm buying 2100. 21 is the bottom of this channel and it's somewhere where I am happy to buy. So that's pretty much it guys. I hope you guys enjoyed this video. If you have any questions on anything that we covered today, drop it in the comments. I'm always happy to answer those questions for you. If you guys are new here, make sure to hit that subscribe button and if you enjoyed this video, most important of all, smash the like button. Remember guys that on April 21st, I will be speaking at the Miami Crypto EXP event. It's going to be down here in South Florida in the Intercontinental Downtown Miami if you guys would like to attend. Just go ahead and come to the site expcrypto.io and you can buy your tickets. Make sure to use the code BitcoinDaily so that you guys get a discount on your tickets and then you will get to meet me and I will be holding a workshop for trading Bitcoin for beginners. Alrighty guys, have a wonderful Monday. Have a wonderful week. Let's make some profits as always. Peace and love.