 Happy Friday ladies and gentlemen in today's video We will be talking about the breakdown on this pattern that we've been watching closely this week We will touch on what that means for Bitcoin and what we could possibly expect over the weekend So without further ado, let's dive right in Hey, what's up Jay here and welcome to Bitcoin daily bring you guys the best tips tutorials and ideas to help you guys become profitable and successful investors the goal of this channel as always is to empower you guys the community with the Knowledge and resources to help you guys get up to that next level So if you're new to the channel, make sure to subscribe and turn on the notification bell If you've been here before you know what to do smash that like button if you have any questions drop it in the comments Let's dive right in so it's been a pretty Not too interesting week in the market as you can see we went up as high as 35 293 and Then we've been rejected every time basically you'll see for three days in a row We retested 35 got rejected retested 35 got rejected and then finally broke down from this Symmetrical triangle that we had here on the short term to the downside So with that it took us all the way down as low as 32,000 where we did find some minor support As you guys can see we bounced their multiple times before as some minor support We are currently bouncing back up today so far up around 2% So now all is not lost what we can do here we can still move the support here now to where the levels are currently at and See if this new story makes sense now, you know, we can See that the support is still here We still have these two lows and then the higher low here So as long not now the issue here is we need to set a higher high as long as we set a higher high then You know this pattern continues here if we do not set a higher high Then we'll probably get pushed down by this the same triangle that we just got pushed down from That's going to still be around that $35,000 area Remember that I said that we would see the move by the weekend and we did we got the breakdown Unfortunately now for this move here. We could expect a decision here probably by around Sunday or Monday So if we do continue to break down and we cannot hold here We can expect to continue down and we have that support at 32 We have another minor support at 31 and then the bigger support is of course down at 30 and the biggest Support area that we have currently is at 28. Remember, we do not want to see this price fall below 28 If we did fall below 28, we're falling into this next zone here in this zone The bottom of this range would be 20 to 18 thousand dollars. So we don't want to see that happen We want to make sure that we stay within this range. So that's what we're really watching for here But usually the thing is the longer we stay You know in a range here the more likely it is that we fall to the downside Because the current short-term market has been to the downside The probability is to the downside the longer that we stay within a range So we definitely need to break to the upside soon as you guys can saw here in the last few months We were just trading in this range trading in this range and eventually we broke down and now we're trading in this range Right, we need to break out of here very very soon or again We're risking dropping losing this support and dropping into this range Which would definitely put us in a bear market and we could probably spend Possibly the rest of the year down here. So we definitely don't want to see that so we need to get this break above 35k Now what to expect this weekend again, we're just have to wait here I believe we're gonna stay here in this current range right here that we're trading in below 35 With the low around 32 until we get a decision on which way Bitcoin wants to go now the past couple of Weekends we've had pretty much green weekends. So hopefully we can see the same thing this weekend Remember that we had the gray scale unlocking event It's the biggest unlocking event ever in the history of a gray scale unlocks Which could bring volatility into the market next week and probably the week after that the big event is On July 18th. That's gonna be the biggest day of unlocking I recommend you guys watch this video that we dropped yesterday is a video about 10 minutes long And we break down everything in depth on what Bitcoin has done in the past when there's been these events over the last Six months. So with that, we should definitely be expecting some volatility next week, which We kind of need it in the market. There has been very very low volatility here lately in order to make a move Up we definitely need volatility to the upside now, you know with the volatility We could go to the downside But we'll just have to wait and see next week now Let's talk about a couple trade setups for the short term and for the long term that I will be looking at if the price Reaches these points over the weekend But first I want to tell you guys a little bit about the sponsor of today's video lady capital Litty capital is a Swiss private equity focusing on litigation finance They are tokenizing its shares onto the blockchain the digital shares called Litty tokens are asset backed by Investment impending careful selected legal cases these KYC required tokens allow any Investor to engage in the high-performing litigation Finance market previously only available to elite investors Litty token holders have shareholder rights and access to dividends 80% of profit distributed will be paid out in dividends the tokens launched yesterday So you can now purchase Litty tokens at Litty capital comm alright guys So for short-term trade setups basically we're watching this one level this weekend, which is 35k 35k has been a big Resistance here. It's been a support as well when we've been above it and it is a Fibonacci level So you can play this level One of two ways right or you can play it to the both ways is up to you However, you want to treat it you can either Long it when the price breaks above it or you can short it when the price breaks above and drops back down So because we've been rejected so many times here It is kind of a good idea to try to enter a short position If you see the price goes above it and gets rejected back down once it gets rejected and you see the price fall back below 35 you can enter a short position again I'm using very small risk on these under 1% per trade because there's really no Direction yet right but we can take some small scalp trades and earn a little bit of profits while doing so So that's the level we're gonna be watching for both long setups and short setups now for long-term Entries for dollar cost averaging. I know there's many of you doing that out there. We're entering We have entry orders set up at 30,000 and at in the 28,000 area. Remember guys Don't set them up exactly at 30,000 anywhere in a 30,000 range is fine The same thing anywhere below 29,000 is fine as well And those are definitely two good spots to dollar cost average if the price were to fall that low last but not least As far as the Wycoff accumulation pattern that we have been following here for the last two months You can see that it's still intact. We still have the spring here with the test of this support down here we have the move up we've been setting the higher lows and We're still on this support here. So we still we're still it's still intact the pattern still intact We need that move up remember I told you we need a higher high that higher high target would be around thirty eight thousand dollars before a Probably a pullback down to thirty six thirty five and then a continuation up to forty to forty two So if this pattern plays out, that's pretty much what needs to happen And that's what would confirm this pattern here into phase D And then eventually phase E would be a break of forty two K So again, we just have to continue to let it develop and and continue reassessing every time we get, you know We give it some time. So let's see what happens with that. We'll update you guys again on Monday. That is it for today guys Thank you guys so much for watching this video Don't forget to smash that like button guys It helps us a ton with the YouTube algorithm and it only takes a second to do it takes us a couple hours to get these videos together It takes you a one or two seconds to smash the like button while watching this video if you guys are new to the channel Don't forget to subscribe guys turn on the notification bell as well So you're notified as soon as we post the videos. Thank you guys so much have an amazing weekend Hopefully we can all make some profits again. I will see you on Monday as always peace and love