 Bitcoin rebounds over $40,000 today after painting a bullish hammer on the weekly charts. Today, we say goodbye to February, the month of love. And it was kind of a good month in the crypto space overall. As long as we stay above $38,492, we will be printing the first green candle we have seen since all the way back in October feels like ages ago. So are we now officially due for a run up in crypto? Well, if we look any time that there's multiple red months, we usually get a little run back to the upside. Now, the only time it's not true is when we are really in a bear market like back in 2018 and 2019. However, slow down there, cowboy. We still have a huge war going on out in Ukraine with sanctions flying left and right. Those sanctions have actually played a part in why Bitcoin is bullish. Earlier this month, Ukraine passed a bill making Bitcoin and cryptocurrency legal in Ukraine. And a few days ago, they started accepting cryptocurrencies as a form of donations for the war. They have now received close to $20 million in donations in cryptocurrency, including a $10 million donation from Binance. Us here at Bitcoin Daily, of course, continue to wish for a peaceful resolution sooner rather than later, and we will continue to keep all those people in that area or involved in the conflict in our prayers. So today, we're taking a look at this roller coaster of a weekend in the Bitcoin market, and then we will look for the next possible moves that we could see this weekend, depending on the developing events. We will also, of course, cover the exact trade setups that we're currently watching right now to try to make some profits this week. Let's go ahead and dive into today's analysis. So with all the sanctions going on and Bitcoin volumes spiking in Russia and Ukraine, Bitcoin's price today is up almost 10 percent. The move today has put us back on track to possibly retest that $42,000 resistance area and the highs that we hit earlier this month around that $45,000 range before, of course, everything that happened with the war, which sent the prices back down to those sub $38,000 levels. So on Friday's video, we told you guys that there were two trades that we're basically watching to enter. That first trade was on a break above $40,000. You guys can see that we did get a small move above 40,000, but we instantly got rejected back down to 39,000. So if you did not trail aggressively and take profits aggressively, you probably got stopped out at a loss. But that's OK, because the next trade that we told you guys that we were looking to take was a short position below $38,000. If you caught that short position from 38 down to 37, that was about a two and a half percent move down if you use 10 X leverage like we do, then that would have been a 26 percent profit on the trade. And of course, if you caught the short trade that we also spoke about on a rejection from $40,000, that would have been about a seven and a half percent move down using 10 X leverage. That's a 75 percent profit on that move. For those wondering how we take short trades, we trade on Bybit.com. Bybit.com is a derivatives exchange where you can take either long orders or short orders. We have made many different tutorials on how to use Bybit and how to use leverage. So if you guys are interested in trading on Bybit, you can check out these tutorials and the link to sign up for Bybit is in the description below. They currently have an initial deposit promotion where you can earn up to thirty five hundred dollars in bonuses on your initial deposit if you use my link below. Now, if we break above $42,000, there's a very big chance that we can retest this forty five K area. However, if we do not break the $42,000 area, then what I'm thinking that we most probably see here is some consolidation between the forty two to forty thousand dollars. You can see that last time we got to forty two, it looked almost identical with an eleven and a half percent green candle. The next day we just kind of consolidated under forty two. And then after that, we went all the way up to a high of forty five thousand eight fifty five. So if we look over right now, we can see that we have a candle here of about eleven percent up today. We're sitting right under that forty two thousand dollar range. If we pop above it, I can expect something like this where we just kind of run up retest that forty five thousand dollar range again. I think this time if we break above it, as long as there's no big fud or anything crazy in the news, then we can make the original move that I spoke about last time when we were over here in this area where there's a huge drop off here, so there's a big gap up opportunity here where price could go from forty two thousand all the way up to this forty eight thousand dollar range. The only reason that this didn't happen last time was because of all of the fear going into the possible war and it basically tanked the entire market at that point. When wars happen, historically, prices decline before the war. And then during the war and post war prices usually bounce back to the upside. So I am definitely holding here and I'm definitely expecting prices to continue to rise. Now, if for any reason we get a move back down, a pull back to the downside, then the support levels that we're going to be watching here is, of course, forty thousand dollars is going to be a big level there. If we lose that, then we could retest these bottoms down here, which is sitting around that thirty six to thirty seven thirty eight thousand dollars. And then, of course, this long term support that we've had here and way back here, we could also retest that that's sitting down around thirty six thirty seven thousand dollars. There's a lot of confidence support there in that area. As long as we hold above that area, then we have the opportunity to continue to the upside and set up some higher highs. All right, guys, next we're going to jump into my exact trade setups that I'm currently going to be watching right now and throughout this week. But before I show you guys these trade setups, do me a solid. The only thing I ask is that you guys subscribe to the channel. If you guys want to stay updated with trading, crypto passive income opportunities or just want to stay up to date on the latest market trends in the crypto space, I upload a video almost every single day about these topics, so please smash that subscribe button so that you never miss another opportunity to make money in crypto. In addition to that, I answer every single DM that I get on Instagram. And I also answer every comment that you guys leave on my YouTube channel. So feel free to leave a comment below if you guys have any questions. I also have a free discord for the community that you can join with like-minded individuals. The link is in the description below. All right, guys, so these are the exact trade setups that we will be taking, that we're looking for next right now. So the first trade setup is $42,000. I want to see the price break above this level. And that's where it will trigger my long position order. Like I told you guys before, I think with a break above 42, it could lead us back to where we were before and possibly even beyond that. Now, if you see a break over 42, but for some reason, something happens and we get dropped back below 42, that's an option for you to take a short entry at. But if you want to keep it simple, only play the breakout above 42. Now, the next area that we will be looking for a trade is at $40,000. Now, at $40,000, you can play it one of two ways. If you think price will be bouncing, then you can take a long entry as close to 40,000 as possible, basically, or on a break below it and then a break back above 40,000. You want to enter on the bounce back above it. However, if for any reason there is news that's negative for the price, then you can take a short entry below $40,000. Now, the decision on which way to go with this is based on one, how you think and how you feel the price might go and two, what is going on in the market at the time. This is all going to be event driven price action. So depending on what's going on throughout the week is how you should be looking for these trades. Now, with all that being said, if you want to know exactly which trades I am looking to take in real time every single day, you need to get into my mentorship trading program. In this group, I share every single trade that I take with my complete trading plan, entry, stop loss, take profit, all of it. I teach you guys how to trade the right way, how to trade with leverage, how to trade with the right position size and the right risk. So you never have to worry about blowing your account again. In addition to that, I also post crypto passive income opportunities, NFT projects and much, much more. Now there are limited spots available because there's so many people that are trying to get in, but I only have enough time to work with a certain amount. So if you guys are interested, go to the link in the description below. I'm telling you guys, crypto is a once in a generation opportunity. And the way that it is right now, the easy opportunities to make life changing money at the moment will not last forever. So please, if you guys are interested and want to take advantage of this opportunity, sign up in the link in the description below. If not, then I suggest that you check out the next two videos that come up on your screen because those are the videos that YouTube thinks that you should watch next. Thank you guys so much for watching. Have a great week. As always, peace and love.