 Bitcoin has now been rejected three times from that 60k level. As you guys can see here on this chart, the price continues to trend down as it respects this descending trend line. Today we're talking about this weekend's price action snooze fest. Then we're going over what we're watching on the charts right now. And finally, of course, we're going to end this video with some trade setups that we're going to be watching over this week. So stay tuned guys, you don't want to miss this video. 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 traders. The goal of this channel is to empower you guys with the knowledge and resources to help you get to that next level. So if you guys are new here, make sure to hit that subscribe button. Make sure to smash the like button and make sure to turn on notification bell so that you guys are notified as soon as we post a video five times a week. So the first thing that we're going to talk about today guys is that recap from this snooze fest weekend. So not really not much went on this weekend in Bitcoin. We gave you guys basically from what we gave you guys on Friday's video, one entry triggered those are very small move though. It was the 57.5 K entry. So that would have been more or less right around here and that went ended up going up to about 58500 that would have been around 17% more or less on that move. If you guys entered that you guys would have probably stopped out at least one time here. As you guys can see, we had a pretty big drop right there. So yeah, you would have probably ended up just about break even or a little bit in profit if you would have took this trade and stopped out that one time and then took profit up here. You would have pretty much had a small profit. That move in total would have been around 17% if you use 10X leverage for Ethereum. Pretty much the same thing here. We had the entry we saw here was a 1760 bounce, which would have been right around here between these two candles and that ended up going up to about 1800. This is one about to 1810 or something. So that would have been around a 11% profit if you were able to catch that and it did hit twice. So you would have been able to enter it there and you would have been able to enter it again right here again. So you could have taken profit on that twice. And right now it just hit that same spot again. So guess what we're doing, guys? We're entering that same trade again right now, what we just did. So hopefully we make profits by the end of this video. All right, guys. So let's go ahead and jump into the charts and let's take a look at what is going on right now, what's gone on over the weekend. As you guys can see, on Friday, we spoke about being at this resistance right here. So we said that we needed to either we're either going to see a breakout to the upside, which would have broke out of this 60K range, which you can see here. That's where we got rejected. Or if we would have broke out, we could we would have gone and, you know, tested this previous all-time high, then saw probably some sort of consolidation back down to retest the top of this and then continuation up. But what we saw instead was that rejection right at that 60K level. And of course, we got pushed down lower. So we also broke below this Fibonacci level that we're watching here. That was at 23.6% level. We broke under that and that's currently where we're sitting. So you can see after we broke under that, we've kind of been struggling to get back on top of it. As you can see here, we've been rejected a few times there. And right now we're just kind of sitting in the middle of nowhere here. So there's really no support here. There's we have the resistance right here. And we have the descending resistance as well. So that's something that we're watching for right now. So if we continue down here, then that next support level is going to be that 55K area, which is where we saw support here. We saw support here, saw support here, saw support here. So we've seen support a lot at that level. And we've also seen resistance a lot at that level. So that's definitely going to be a place of interest. There should be a lot of buying coming in, a lot of support coming in. If we were to dump back down to those levels, as you can see, we almost hit it over the weekend, but we only went down to what was at 55, 400. And then we bounced right back up. So that's currently the next support level that we're going to be watching here. As far as for resistance, now this resistance is going to get stronger because the descending line is also going to be here with this resistance as well. So in order to break out, we're going to have to get through not only the Fibonacci level resistance, but now we also have to get through this descending line that's now meeting with this Fibonacci level. Right? So if we can get a break to the upside above this, we should be able to test this 60K level one more time and hopefully be able to break that level now that we got rid of the descending line. So something that we could possibly see is a break. If we see the break to the upside is to break that test that this again, possibly get rejected again. But if we can keep a we can test the top of this, basically the top of this channel and then continue up, then we might see the continuation up where we test retest this previous high. So that's one possibility once one case scenario there. But as you guys always know, there's a million different case scenarios. So we just got to kind of prepare for all the case scenarios, right? So that's what we will do at the end of this video. We're going to prepare you guys with different levels and different trades depending on what it is that happens throughout the week. So overall, we zoom out of the chart and the chart still looking very bullish. As you guys can see here, this is where we broke out of this falling wedge, which took us to the new all time high. And this is where we're at now. As you guys can see, this is a bullish pattern right here. This is a bull flag after an impulse move up. You know, we're trading within a range. We're just consolidating within that channel right now. So that is a bullish move, guys. You guys could also see that we printed it higher high than we printed a lower than we printed higher high than we printed a lower high. So as long as we continue on this path, we are good guys. Everything looks healthy. Market looks healthy. We're in the neutral here on the daily on the weekly we are. Let's see where we're at on the weekly right now. So on the weekly, we are still in overbought territory, but it's been coming down as you guys can see. So that might be why we're seeing so much consolidation right now. And so little volatility at the moment because we it's just kind of trying to get and trying to reset itself back into that neutral area. As you guys see, we've been overbought for quite some time now since October. And this is the lowest we've been. Basically, we came down this low. You can see in February, we came down on those during that falling wedge. And now we're just kind of going down again. And as you guys know, we spoke about this last time we had. We do see here a bearish divergence on the weekly. But however, on the weekly charts, remember that it takes a lot longer for things to happen. So it's just something to keep in mind. But, you know, you can't just trade based off of the weekly patterns because those are very long term and that that could stay that way for a long period of time. So if we were to continue in this channel, this is pretty much the trend right here, right? This is pretty much the channel. If we were to get rejected and go to the bottom of this channel, where the bottom could take us is back to that 52 K area, 52 to 50,000. So it would depend when the time is very important as far as where we would go, depending when we would go down here. It would be right around that 52 K, you know, possibly 50 K area if we were to continue down like this on this channel. Now, if we break up the move to the upside that we could expect what we'd have to do is measure this impulse move, right? So if we measure this impulse move here, you know, when when measuring, we're trying to predict where the breakout is going to go on on a bull flag. You basically measure this pole, the move of the pole, right? So from the bottom of this move to the top, that kind of puts it that what we would put that, let's say we broke out if we broke out here, for example, that would put our target right at 72,000 around that 72,500 dollar mark for its next big move. So what does that mean? That means that if we were to break out from this bull flag, this next move, you see how there is this big impulse move right here, where it went from here all the way up to here. Basically, if we measure that and put it at where this would break out. Now, I'm just estimating that this is where the breakout would be, but the breakout could be here, could be here, could be here. You know what I mean? So depending where that breakout is, is where that next price target would be. So in the event that the breakout was here, our target would be around that 72,500 levels, 73,000 level, right? If we grab this and let's move it over here. Now that kind of changes our price level to around 72,000. If we move it down here, now that again, changes our price level to around 70,000. You know, so so it all depends where that breakout ends up happening. Once that breakout happens, you know, according to the whole, the theory of bull flags, the next impulse move up after a breakout would be above the same move of this previous impulse move right here, right? So that would give us basically a move up to $70,000 and beyond. So it just depends at this point, it depends where we see and where we get this breakout. So that's currently what we're watching for so that then we can try to come up with our next price prediction for Bitcoin. A breakout from this bull pattern is a scenario that could take us up to that 70 to 75 K area. In Ethereum, we have more of the same guys. Basically, as you guys know, Ethereum is very correlated with Bitcoin itself. So depending what Bitcoin does is basically what Ethereum is going to also do. So again, on Friday's video, we spoke about, remember, we said X marks the spot where we said that this trend line, this channel was meeting up with this descending line. And, you know, we had it was maker break at that point for Ethereum. We had to either break through this and continue up in this channel, right? Or we're going to go down and fall to the bottom of this channel. So we ended up getting rejected there. You know, it looks like it really tried to break out. But when Bitcoin got rejected at 60, then Ethereum also got rejected there, which led us all the way back down to the current levels that we're at right now. So you could also see that we got pushed under the this channel right here that we were using. And now it looks like we might be we might have that channel there as a resistance and guess what what's happening again? Another X marks the spot scenario, right, where we have two different trend lines running into each other at the same time. So we basically have a double resistance here. So that's something that we're watching this week for the next few hours really today to see if we're going to be able to break through this this trend line right here and continue up or if we're going to get rejected and possibly retest these areas right here. So these are that those 1720 to 1730 areas that we've spoken about several times, as you guys can see there. So same thing here, guys, if we measure the move, the total move of Ethereum here from the bottom of the move to the top of this move, right? And then we move it to where the possible breakout could occur. This would give us the level a possible level to possible prediction, right? So if we go ahead and draw that out and put it over here and let's say that the breakout would come at some point the next day or two, then our target here would be possibly $2,300 for Ethereum. Now, if that breakout happened, let's say closer to over here, let's draw this channel a little further down, then that would put our target around that 2250 to basically around 2200 range, right? And of course, the lower you go on this for the breakout and the lower that target would be. So all we can do right now is just kind of wait it out. See when the breakout occurs and then we can play that price target and set up different trades going up. Now, if it continues down, then we need to look for the supports and set up different trades for a bounce back up, right? Because eventually there will be that bounce back up. It's only a matter of time here. So the current supports that we're watching is this level right here that we've told you guys several times at 1720 to 1730 area. We really like that area there for a bounce. As you guys can see, we've had a lot of support there. We've had a lot of bounces and we've also we also have that Fibonacci level there. If we were to break below that, then that next level that we would be watching is basically this level right here, which is at 38.2% Fibonacci level, which is just around at 1530, 1520. I'll say 1520 to 1550 area, right? That's going to be that next level, as you guys can see, there's been price action there, a lot of price action there. So that would be that next level that we're going to be watching if for any reason we went, you know, lower down than we are currently. I hope you guys are enjoying this video so far. So far we've covered the recap of the weekend. We've did an analysis on both Bitcoin and Ethereum. Next, OK, next, we're going to cover some trade setups that we're going to be watching different levels that we're going to be watching basically our watch list for this week. So these are the trade setups. This is a watch list that we're going to be using this week to take trades for ourselves and for our team. If you guys have been enjoying this video so far, make sure to hit that subscribe button. Don't forget to also smash the like. Let's get this video up to 100 likes. And of course, do not forget to turn on that notification bell so that you guys are notified as soon as we post these new videos because a lot of these videos have trade setups in them and you don't want to miss these. All right, so let's jump right in. All right, so let's start it off with Bitcoin. The first level that we're going to be watching here this week. First of all, we need to see a break above fifty seven five hundred. Right. We got to see a break above there in order to continue up. That is a resistance level, as you guys can see here. Now, the thing with this is there's also resistance. Real close by because we have that descending level coming down on us now. So we don't want to we no longer want to take that fifty seven thousand five hundred level entry. We're leaning more towards that fifty eight thousand dollar level as an entry. And if you want to be safe, then you can use that fifty eight thousand five hundred level that should be a little bit safer because that's pretty much if we reach above that level, there should be a lot more volume and momentum to the upside at that point. But you can take that fifty eight K level entry as well. However, it's a little bit riskier because it could be fake out. So we might not have enough momentum and volume yet at that point. So it's up to you which one you want to take, depending on your risk tolerance. But those are the two levels that we're watching as we try to break this resistance barrier that we're currently facing above that. Then that next level, of course, is going to be sixty K. If we can break above that sixty K level, we should hopefully see a retest of this previous all time high at sixty two thousand. So that's going to be the next level we're watching. And then, of course, above that, we're watching sixty two K for a breakout above that for new all time highs. Now, unfortunately, the market does not only move up, so we have to prepare for case scenarios where we move lower and look for entries in that case. Right. So if we continue down the first entry that we're looking for is, of course, fifty five thousand. So that's going to be right around this Fibonacci level right here where we've seen we've had a whole lot of support there previously. So it is a level where I'm expecting buyers to come back in and defend that level. So that's that first area that I'm watching for a bounce entry. If we were to go below that for any reason, then the next level I'm looking at is fifty two K and below that is fifty K and fifty two to fifty K. It's already that would be the bottom of this channel here. So as you guys can see, that's the bottom of the channel. So that's in the event that this week we got completely rejected up here and tested the bottom of this channel before heading back up, right? We'd be using fifty K and fifty two as that those support entries there. In Ethereum, as you guys know, it is very correlated with Bitcoin. So you have to be careful when taking these entries because you also want to want to be watching Bitcoin and seeing where Bitcoin support is at that time. Now, Ethereum has been holding up pretty good overall, even with Bitcoin, you know, dropping, it did make it drop here. But basically the first level that we're watching for a breakout here, we're still watching that 1800 level, but we're going to be risking only a small amount here, you know, because, as I said, there's two with two different resistances here, plus there's a third resistance if you count the fact that 1800 is a whole number. So people will be taking profits there at 1800. Anyone who's been buying these dips here are probably going to be taking profits there at 1800, just like they did previously. Remember last time that we dropped down here when we got to 1800, there was a whole lot of consolidation because everybody was anyone that that bought those dips was taking profits there. So that's the level that we're going to be watching for our first entry right above 1800, if we continue up beyond that 1820 is that next level. But again, it's still pretty risky. We saw a lot of consolidation there, but now that that level is kind of cleared out a bit, it's it's a little bit better now to hit that level. So I'd be I'm watching that level is now back into my trading plan, that 1820 level, and then above that, of course, we're watching 1850. That's that next level. And if we are, if we are to break above this previous high here, that's going to be the next another entry and then above 1900, of course. If we were to drop to the downside and possibly test this Fibonacci level here, that next entry there is that 1720 to 1730 range. If we were to drop deeper for any reason, then I'm looking at the bottom of this channel here, right? And this next Fibonacci level here. So that's right around that 1530 to 1560 range where we could possibly see a bounce at that point. If for any reason, we were to head down this way. All righty, guys, so those are the trade setups that we are going to be watching this week, depending on what the price does from here. You know, we might change things up and down, but right now today, that's what's on our watch list. That's what we're watching. And that's those are the trades that we're taking right now at this moment. For these day trades, remember that we use Bybit. And if you guys are interested in signing up for an account on Bybit to trade with leverage like we do, then you can just go down to our description on this video and click where it says trade on Bybit with leverage. So that is pretty much it for us, guys. I hope you guys have enjoyed this video. If you did, make sure to hit that subscribe button, guys, make sure to smash that like button as well and turn on that notification bell if you guys have any, any questions at all about anything that we've covered in this video, drop it in the comments. We're always happy to answer your questions if we have the answers for them. Thank you guys so much for tuning in. I will see you guys on the next video. As always, peace and love.