 What's up guys on Friday's video, even though the entire market was in extreme fear, we broke down a few different reasons and scenarios why we could see some sort of bounce back at the levels that we were at on Friday. So far, the bounce back is looking very nicely. As you guys can see here, we actually have a green candle this week so far, but we did set some new lows. We set a new low right below $40,000. It was actually at $39,650. So in today's video, we will also cover the Wycoff accumulation schematic. Like we spoke about on Friday's video, we expected that bounce here and that's exactly what's happened so far. So let's go ahead and jump right into today's video. All right, guys, so let's jump right into this Wycoff accumulation schematic. If you guys don't know what this is, I made a tutorial on this, which I will link here on the video as well. Basically, I explain exactly what the Wycoff schematics are and how they work, et cetera, et cetera. So far, the way that it is playing out, we have that bounce right here that we spoke about. We did set some new lows yesterday, I believe it was, at $39,588, $39,600, depends what exchanger we're on. Those levels will be a little bit different. And because we went that low, it did wipe out a lot of these orders that we had down here. So remember that we had this buy wall down here. So you'll see that the buy wall worked, right? It shot the price. As soon as the price came down here, it shot the price right back up. So it did break through for about a second. But that's about how long it was before the prices got shot right back up. And you see this candle here, kind of that pin bar candle that is a bullish candle, you know, possible reversal candle there, which leads us to today. Today we've had a pretty bullish day. We're up about two and a half percent. And of course, it had a lot to do with Jerome Powell's. He spoke today, he spoke about stable coins and the central bank stable coins that they want to bring out. And he said that that he believes that both coins could coexist. So that was pretty bullish and overall just the markets. He said, I believe he kind of said all the right things to calm investors down. And the markets overall were in the green today. Now, I believe tomorrow we have some inflation data that will be coming out. So we got to see what happens with that. So back to this accumulation schematic here, basically what we're expecting here. And if this were to play out the way it's supposed to, we would see a bounce back up over the next couple of weeks, putting us somewhere at the top here towards the end of January. And then we would expect some sort of rejection at that point that takes us back down to current levels here, kind of a one final retest before we can finally continue up and set up a new all time high. So if you go back in time to major in July, we see a very similar pattern here. And although I don't have it set up right now, this was very similar to that accumulation schematic where we had the big drop. Then we had a automatic relief rally. We had a test of support here, which is currently more or less where we are right now in the current schematic. And then we had the push back to the upside that took us back up here to around that 40 to $42,000 before getting rejected. And that's when we had the spring. So if you come back over here, it's very similar. This drop was a little bit faster, but we can still pump up here before then getting this spring down here. You'll see that the spring didn't just automatically run back up. It kind of went up and then it kind of grinded back down, tested these levels again here, and then it finally took off. So we could definitely see something like that. It doesn't. This is not going to play out exactly as drawn. Unfortunately, it's not that easy, but we should expect some type of thing like this. Now, if we zoom out to the weekly, you can see here that this is still intact. You'll see that we tested this lower support, but we're now getting that bullish pin bar, bullish hammer and getting that bounce back up. This is the same support that held over here. This is the sending support is the same one that held over here. So another thing I spoke about on Friday's video and I also spoke about it in my private group is the fractals that we are currently seeing here between this time period right here and this time period right here. If you look at it, it's basically the same thing just in a shorter amount of time. So to start it off, price went up, setting you all time high before having a pullback and it set a new low here as a support is setting you base, where then we continued to run up with after setting you all time highs. Then we got this massive, massive pullback and we never went below the support that was previously set. So now if we take a look at where we're currently at, we moved up. Then we had a pullback here. We set a new support here, which also happens to be the top of both of these ranges. Continued up, set up a new high and then again had another massive pullback here. Now using that same support that we set up here on the previous pullback earlier. Both times we had a flash crash. Both times we swept the flash crash lows. Both times so far we've been bouncing off the previously set support here. Both times we've used this ascending support here as another place to bounce as well. Currently, we're still there. And both times the RSI bounced around 42. Currently, we're getting that same type of bounce right around 42. So if you put this together with the Wycoff accumulation schematic, I think we can build a very strong case here where we should be seeing some sort of relief rally where we push back to the upside. Now, of course, it doesn't mean that we're just going to get this break out and move up to setting you all time highs right away. But we should be seeing something like this where we at least go up here and kind of stick in that area before then having that continuation up. Now, I'm not going to cover too much on the bearish case scenarios. I think you guys already know most of the case scenarios. I think most YouTubers at this point and most people on Twitter are very bearish and fearful and they're covering those for you. So you can probably check them out. Like I told you guys, as long as we stay above this range of 40 to $42,000, as long as we stay above these supports, I will continue to be bullish on Bitcoin. And I think that the overall trend is still intact and we can continue up from here and set up new all time highs at least one more time for trade setups. I'm kind of staying away from leveraged trades right now. I think now what the best thing to do right now is add to your long term positions in Bitcoin, Ethereum, any other projects that you really believe in that are on sale right now. Now's the time to add on to those positions. If we get above $45,000, I'll start looking for some leveraged trades again. But until then, I'm just adding on to my long term positions. I hope you guys have enjoyed this video. If you did, make sure to smash that like button. If you guys are new to the channel, don't forget to subscribe, turn on notifications and if you have any questions about anything that we covered today, of course, drop it in the comments. I'll see you guys on the next one. As always, peace and love.