 What a week in the market after a week bearish start to the week closing below $30,000 for the first time since Literally January 1st guys. So the market was definitely panicking on Tuesday but then we got a big bullish bounce on Wednesday as you can see here in this move It was a 7.8 percent move up and this came off the B word conference That was featuring of course the one and only Elon Musk Jack Dorsey and Kathy Wood as a disgust Bitcoin for over an hour So ever since then the market's pretty much been in Indecision, they don't know which way to go now and now we got to see What can we expect throughout the weekend now is it going to be a bearish weekend is gonna be bullish We're gonna talk about We're gonna highlight some of the stuff discussed in the B word conference and do an analysis and see if there's any trades That we can look to take this weekend to make some profits. So stay tuned guys Let's go ahead and dive into today's analysis Hey, what's up J 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 the community with the knowledge and Resources to help you take yourself and your wealth to that next level So make sure to subscribe to the channel if you're new here and turn on a notification bell Also, don't forget to smash the like button as it helps us a ton It takes us hours to make these videos and what takes you a couple seconds to hit the like button All right, so let's go ahead and jump into today's video So the first big main thing that happened this week was the B word conference So this was a live conference where they had a lot of different topics a lot of different speakers But the headliners of this event was of course Kathy Wood Jack Dorsey and Elon Musk So Kathy Wood is one of the earliest Wall Street investors to get into crypto And has been through enough market cycles to have a nuanced understanding of the space She revived one of her long-standing themes of Bitcoin's roles based monetary policy Especially relevant now as central banks operate on Unbounded monetary policy. She also touched on recent inflationary concerns specifically arts belief that deflationary concerns are likely to emerge in the long term Twitter and Square CEO Jack Dorsey has been a consistent ally to Bitcoin Dorsey highlighted a few of his projects dedicated to a more decentralized future including squares upcoming self-custody hardware wallet and the blue sky a project to develop an open and decentralized social media platform and of course the controversial Elon Musk his Contributions to the discussion garnered mixed reactions from the community most notably was his admission that outside of Tesla and SpaceX shares Bitcoin is his biggest investment Additionally his now famous statement. I pump, but I don't dump was backed by his revelation that SpaceX in addition to Tesla Holds Bitcoin. He affirmed that the three have never sold their Bitcoin holdings and have no plans on selling He also went on to say that Tesla should probably be accepting Bitcoin as a form of payment Sometime soon. So although in the long run, that's all Definitely very very bullish for Bitcoin and the entire crypto market I know a lot of you are still worried about where the market currently is right now Whether we're in a bull or bear market and where it's going next So let's go ahead and take a look at where we are today and what we could possibly expect this weekend So you can see that everything's pretty much flat on the day, right? It's not really too much as a few coins that are down, you know very small But everything's pretty much flat Bitcoin's pretty much flat in the last seven days as well The fear and greed index is currently at 23. So, you know, nothing has really changed there Now if we take a look here at the at the chart You'll see that we are now at the top of this channel where we've been kind of Descending down, right? So we still don't know if we're in a Descending channel or a falling wedge regardless though. We're at the top of the current channel You'll see that early in the week We almost hit that bottom of the channel, but we did get a bounce up before we got to the bottom And now we're currently sitting at the top. So in order to get above this We need some we're gonna need some momentum We're gonna need some volume and we're gonna need something to push the price up So that breakout point is probably gonna be around $33,000 is what it looks like right now. So if we get above 33,000 you can expect a push up to 34 to 35 $1000 and we test this level up here Which as you guys already know we tested many times over the past month So this Fibonacci level continues to hold remember the six one eight level in the Fibonacci is Considered the golden ratio So it's the biggest level in the Fibonacci sequence So that's currently where what we have here as support and it's what has held us up here You know at that 28,000 level that has not let the price get beyond that for now So although it's holding it doesn't mean it's going to hold forever We need to get some movement up and out of this channel If not, it's only a matter of time before we we you know end up breaking down and Just kind of free falling down here, right? so like we said before if we were to fall beyond 30 and You know beyond this Fibonacci level that $28,000 level There's really no volume here There's no no points of interest all the way to around that $24,000 level so that would be the next volume shelf So it's pretty much, you know, we drop from here. We're pretty much falling all the way down here That's 24,000 and if we go beyond that then what the next Points of interest and shelf volumes are over here at the $20,000 mark So that's why we need these levels to hold up here because if we fall beyond them It's going to get very ugly and scary very quickly So so far we are holding but we need movement to the upside guys if we don't get it That's what we're looking at if we do get that movement to the upside Then like I said that 35,000 is going to be again That resistance that we need to get through beyond that will be around 38,000 And then of course 40 to 42,000 remember I've been saying this for the last few months $42,000 is the line in the sand Which turns us from bearish back to bullish if we can get above it As long as we remain below it. We're still bearish At the end of the day guys in the last 12 months bitcoin is still up over 100 Year to date we're still up over 11 percent And you know, this is a long-term game guys, you know, this is just for a short term is what we're watching right now And what people are afraid of right now But if you believe in the long-term potential of bitcoin and cryptocurrency This is a time to be entering into the market adding funds dollar cost averaging your way in Because you have to think in terms of the next five years not in terms of the next day in the next week Next month. So just keep that in mind trade setups that I'm going to be watching over the weekend is a break above 33,000 for a long position and I'll also also be watching a breakdown below 32,000 for a short position On bitcoin as well. So over 33 is going to be a long position under 32 will be a short position And I'll be I'll be taking profits very aggressively on both of those trades So that's pretty much it for this video today guys Make sure to smash that like button if you enjoyed this video If you're new to the channel, don't forget to subscribe and turn on the notification bell I hope you guys have a wonderful friday and wonderful overall weekend. I hope we all get to make some profits That's pretty much it guys. I'll see you guys on monday as always peace and love