 Ladies and gentlemen, Bitcoin is not dead. Bitcoin is up 9% today as it regains back some of its losses from the past week. Today, I am showing you guys what looks like a possible breakout pattern that is on its way. Will this pattern possibly lead us back to 60K or will we see sub 50K levels again? 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 guys become profitable and successful investors. The goal of this channel is to empower you guys with the knowledge and resources to take you up to that next level. So make sure to smash that like button and if you guys are new here, make sure to subscribe and turn on the notification bell. So all the bears came out last week with a bunch of fud and you guys, a lot of you almost let them take you down. Remember that misery loves company and all these bears have been missing out on profits. So a lot of people were fearful about the market. As you can see, if you even take a look here at the fear and greed index, it's currently at a 27, which is categorized as fear. But I swooped in like a superhero and told you guys that it was looking like we were due for a bounce and I gave you guys a trade setup that I was watching over the weekend. So that trade setup was that 52K entry. As you guys can see, this is more or less where it happened and it went all the way up to about 54K and just kind of gave it a little kiss. If you guys entered this trade with 10X leverage like we did, you would have done about 36% profits. So during the times when prices are going down, it's always best to zoom out. Like we always say, when in doubt, just zoom out. So looking back here at the chart that I showed you guys literally the day before this dump off, this is no longer a question mark and we can get rid of that. You can now see that we had a drop off just like we did all the previous months following this, the last one, two, three, four, five months in a row. Now let's notice one more thing here. Do you guys see the pattern that I'm looking at? Is it obvious? All right, let me point it out. Look at this green candle, big green candle, right? Big green candle, big green candle, big green candle. Basically, if you guys look at the past four months, every time a big green candle showed up on the chart after a dump off, that signaled a reversal from its lows to new highs. So guess what guys, here we are again. We had the dump off just like we did the second half of every single month for the past five months and now we've had a big green candle. It's up currently, we're almost at 10% for the day. Last month we had a 7% candle. Before that we had about 10% candle as well. Before that we had a 10% candle as well. Over here we had a 7% candle. So you guys see the pattern that I'm looking at now. Remember, before we pointed out the pattern of these drop offs, the second half of every month, and now we're seeing another similar pattern. Same thing that's happened. We have these big green candles that show up at the end of all of these drops. So does this big green daily candle signify that the lows are in and that we're reversing and going up to new all-time highs is now the question. All right, now a second thing we wanna show you guys. As you guys can see here, if you look on the RSI, you will notice that this has been the lowest the RSI has gone on the daily chart since, look at this guys. Since March of 2020 before we took off. So after that happened in March where the RSI was just in super oversold territory. As you guys can see, it was just a takeoff from there. Then the next time that we hit close to that level was back in September. And as you guys know, in September after that happened, we took off as well. And then guess what guys? Now, once again, the RSI has hit the lowest level since the March 2020 pandemic happened. So this has reset the RSI for Bitcoin, giving it room now to set up new higher highs. Looking at the weekly chart, the RSI for the first time in this run is out of the overbought territory and has reset itself. It's back around that 60 range. Now we still have this bearish divergence here with the price and the RSI. But this might have helped it possibly reset a bit, giving us more room to the upside. And now if we take a look at the daily chart here, we'll notice yet another thing that happened pretty recently ago. Do you guys remember back in February when we had this huge dump off? Well, look at that pattern. And now look at this pattern. History likes to rhyme, guys. And now look at this big green candle and look at this big green candle. Now, if I just grab this here and move it closer, where it's touching more of these up here, right? Now it looks a lot more like this pattern right here and this looks, it's starting to look a whole lot more like a Bitcoin breakout out of a falling wedge. But like, Jay, bro, what's a falling wedge, bro? What does that even mean? So a falling wedge is a reversal pattern. Some studies suggest that a wedge pattern will break out towards a reversal, a bullish breakout for falling wedges and a bearish breakout for rising wedges, more often than two thirds of the time with a falling wedge being more reliable indicator than a rising wedge. So guys, that is yet another reason to call the bottom here for this drop and to confidently say that I think that the bottom is in and we should be going up to new highs. There's just a lot of things in confluence right now, which all points in the same direction. Now, of course, none of this is ever 100%. We still need to wait and see what the price does and see where this candle ends up closing. For Ethereum, it has pretty much just shrugged off that entire move last week. After that dump, it went down about 21%. Bitcoin was down about 27, but after this moved down, it moved up and set up a new all-time high at 2646 before going back down and testing yet again this Fibonacci zone here that we've spoken about multiple times there. So this area was definitely a great buy area there. We spoke about that level. And as you can see, that's where the price just continued to bounce. Now, Ethereum is basically just on its way back up and I believe it's just gonna hit new all-time highs as well, especially if Bitcoin continues to move up. If we cross that 55 to 56 area, which will lead us probably to 58 to 60 area, Ethereum's just also gonna be moving on up. As you guys already know, the Bitcoin dominance chart has been just going down. It's been a downtrend on the dominance chart. So what does that mean for Bitcoin? It doesn't really mean much for Bitcoin. What it really means is that outcoins are currently outperforming Bitcoin. So outcoins like Ethereum, for example, are going to be outperforming Bitcoin as long as this continues down. Bitcoin dominance down means that outcoin dominance is up. So you guys can see on this chart right here that we had posted a bull flag, then we saw the breakout, set a new all-time high, then we came back down and now we tested the top of that bull flag and we're on our way back up. So I believe that this is going to continue its way up, possibly the $3,000. Remember that last time we put our price prediction, it was right around that $2,700 area. So I believe we're definitely gonna hit that 2,700 area soon. And then we're gonna continue upwards to 3K for Ethereum. I hope you guys are enjoying this video. We've covered the trade recap from the weekend. I show you guys the patterns for Bitcoin that are pointing up for not only Bitcoin but for the rest of the market. And we spoke about Ethereum. Now we're gonna jump into some trade setups that we're going to be watching this week. If you guys are enjoying this video so far, make sure to smash that like button. If you guys are new here, if it's your first time, make sure to subscribe to the channel and don't forget to turn on that notification bell. Alrighty guys, let's jump into some trades. So the first level that we're looking at in Bitcoin is definitely gonna be that 55K area. As you guys can see, we're already at 54K. Not we would have told you that level because that level is right on this Fibonacci level right here. So if we can continue to push up and break that 55K level, that is an area of interest that I'm looking for because that can definitely lead us right up to around that 56 to 57K range. That second breakout that I'm gonna be watching for this week is above this range right here. As you guys can see, there's been a lot of price action here because there's also a Fibonacci level there. So that's gonna be right above the $57,000 mark. So we're gonna be watching 55K, 57K and then the last one is $60,000. Those are the three areas we're watching for breakouts. Now on a break down, we're looking back at that 52K area and that 48K area. We're gonna leave 50 alone. We're not interested in it. We wanna see a bounce back up above 52 or a bounce at 48. Those are the two areas we're gonna be watching if for some reason we get rejected and go back down. In Ethereum, you already know the first level that we're watching of course is going to be that 2,500 area which we're currently above it right now. But if we go and test back under it, we're okay with taking some bounce entries there at 2,500. Now, if we continue up, then that next breakout level is gonna be above 2,600. The second breakout level is gonna be above its previous all-time high, which was 2,650. So those are the two breakout entries that we're going to be watching in Ethereum this week. That is it for us today, guys. I hope you guys have enjoyed this video. If you did, make sure to smash that like button, guys. Make sure that if you're not subscribed onto the channel yet to hit the subscribe and turn on the post notification bell so that you guys are alerted every time we post up new videos. I hope you guys listened and bought the dip like I did. Now let's get prepared and start making these profits on the way back up. Thank you guys so much. I will see you on tomorrow's video. As always, peace and love.