 Death to the symmetrical triangle pattern that we were watching in Bitcoin or is it? So we're planning on doing an outcoin price analysis on today's video But due to Bitcoins drop today when we requested what outcoins you guys wanted to see a bunch of people were requesting Bitcoin So instead of doing the outcoin video today We're gonna go ahead and cover Bitcoin because as you know all outcoins follow Bitcoin So Bitcoin is the most important coin right so today We're covering Bitcoin's price movements, and then tomorrow we will do the outcoin price analysis So keep sending in your request for the outcoins that you want to see in tomorrow's video We will cover five different coins whichever are the top five that are requested You can also request the coins that you want to see in tomorrow's video in the comments below Also, you will want to stay tuned till the end in this video Because we will cover some possible trade setups for you guys to make some profits if we get this bounce Hey, what's up Jay here? 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 resources and Knowledge to help you get to that next level so make sure to subscribe like share this video also turn on that Notification Bell so that you guys are notified as soon as we post new videos every day All righty guys, so let's jump right in guys a lot of you are worried about what is currently going on here So let me go ahead and let's just jump right into these details into these charts So the first thing is Bitcoin broke the Symmetrical triangle that we were following right so this was a break here as you can see we changed up the lines a bit So we've been looking over this chart and trying to find a different possible scenarios Different possible supports and this is currently what we got so we're looking at Bitcoin in the daily chart and even though the Shorter term symmetrical triangle was broken There is a longer term support in play here as you guys can see here We have the support that kind of started down here Then we had a second touch here We had a third touch here and then currently we're on the fourth touch, right? So this makes it a pretty powerful support here and it might go back even further This is just where I just decided to start drawing it from there I wanted to I was trying to connect the dots at from there You know what I mean at that point another thing that we're also watching that caught our eye here is this pattern right here So basically the impulse move up and then this right here. So as you guys know, this is a Bull flag pattern where we have the big impulse move up then we have consolidation Solidation within the bull flag, right? So that's another pattern that's currently in play as you guys can see for the most part It's been respecting both the top as you guys see two touches here Basically a third touch there and the bottom as you guys can see it was a kind of broke it when we had that big Push down but then hopped right back into it and it's been respecting the lines ever since so that's the other thing That we're watching that's a bull flag, which is a bullish pattern Then if we go ahead and jump into the four hour and zoom in a bit as you guys can see here on the four hour chart We got basically denied here and here, which is what's currently sent us down, right? So that right there is a twenty three point six percent Fibonacci zone That's currently where we haven't been able to get over So we spoke about this level on the bounce here that we needed to get past this level We spoke about that on Monday and as you guys can see we tried right, but we couldn't get past it The other thing that we had we had a second resistance here basically, which was this Descending resistance line, right that started up up here Then we got rejected there got rejected there and this is basically the fourth rejection here So that's another line that we have at play here That's currently also you know the sellers coming in at every time it gets there But this is a bullish sign right here as you guys can see so we dropped below this this support That was basically holding us up this whole time and held us up during the weekend But it did not hold us up here today So as soon as we broke that support we of course got a bunch of sellers come in Which is what pushed the price down so far. So basically went to a low of thirty three three three three Right, so I guess they they really wanted to see those threes But what's been the theme of this entire cycle is by the dick So as you guys can see this is a very bullish pin bar setting up here on the four-hour chart And and you can see buyers are coming back in now You have to be careful because we're not out of the woodworks yet, right? This could be what's called a dead cat bounce Which is when the price tries to push up a little bit and there's not enough So there's not enough buyers and then sellers just push it down lower than before right So so it will go something like this where it gets pushed down Then there's a little bounce and then it continues down Basically, this would be the next support there, right? So we're watching for that where the test will probably be is right here around that 35k range So we need a push on this price. We need a push back above this 35k So then we can possibly hold that 35k that Fibonacci level as a support here and Possibly be able to test the top of this once again, which is right above right there around that 37.7 Thousand range so in this scenario that we don't that we're not able to break this and that we do continue down The next support here that we're watching is the point five 50% Fibonacci level. That's right at that 32.7 point eight range Then the next one below that is this one right here, which is right at that 30k range That's the sixty one point eight percent Fibonacci level. That's also which is happens to be the golden ratio, right? That's also where we've got a bought up right here when we had this the push down We got bought up here last week when we had the push down as well So that's gonna be a very very strong support there, which is and it's also of course the $30,000 mark, which is a huge and major Psychological whole number. That's currently what I'm expecting Then if it continues down and we end up pushing below this remember we have this what could be a Bull flag here, right? So if this is indeed a bull flag and respects this support This could be of something else that plays out It would be something like this so the price could kind of go around here, right? If we have a bounce here, then we know for sure that It's respecting those lines and we have a possible bull flag setting up But this is on the longer term So because you have to zoom out a bit to the daily to kind of really see this pattern now Remember that the longer term patterns are always better than shorter term patterns, but they do take longer to develop So that's why we we usually focus on the four-hour pattern, right? So if this support here holds then we're we're basically going to bounce right up to this one right here to this resistance Which is 35k if we could break above there Then I see no reason why we shouldn't push back up to this range to basically yesterday's highs So which would be around that area is kind of where I would believe that that we could push up to but again This is a gonna be very very strong resistance as you guys can see we've been rejected and Rejected there twice already We were also rejected there, but we were able to push above that at that point So that's the level that you should be watching. Okay, very important So the last thing is the bearish case scenario that we spoke about on Friday's video as you guys can see here This was the all-time highs then we had a lower high lower high lower high and It's kind of you know, it's been following this Resistance this descending resistance right here, right? So the good news is we haven't made a lower low yet, right? So in order to make a lower low we'd have to break through this support and Basically break down here and that will lead us back to that 27k range around here. Alrighty guys I know you guys are worried, but hopefully you have your finding value and getting some value from this video today And hopefully I can now give you guys some trade setups that will make you guys Profits in you know the coming hours coming days whatever it may be So guys make sure to subscribe if you have not done so yet Make sure to hit that like button if you're getting value from this content and make sure to turn on that notification bell It helps us all a ton to continue spreading this crypto adoption. So let's get into some trades All righty guys So let's go ahead and talk about some possible trade setups that we can take if we see a bounce here So the main trade setup that I'm currently watching will be right in this area that 34k area Possibly 34 and a half 34.5k. So that's one area. I'm looking at we're currently above 34 and 34.5 But if we were to test it again It's a possible entry that you can take on a bounce up the next one If we don't you know, we don't head back to 34k Then the next one is that 35k area, which is this look at this right here. Look at all this price action All this price action price action, right? So it's obviously a Very very big area of interest. There's also the Fibonacci level. It's off also the halfway point to 230k and 240k so it's a big number. It's a big psychological number people like the number fives as well So above on a break above 35k that will be the safest trade to take the 34k one is More high risk I would say because you're right Literally right on the line and there's not much space here, you know for it to go You could just you could take an entry at 34 get rejected at 35 and then drop down, right? I mean you'll make a little bit of profits, but the safer bet is this 35k entry So if we see a bounce above 35k then that's a breakout entry that you guys can take and I mean this could go all the way up Basically to this resistance right here, which is around a 37 000 area, right? So so the 35k entry could take us up to about 36 to 37 000 So that's the main entry that I will be watching for today And the rest of this week now if we do drop in the scenario that we do continue to drop here We will be watching of course this area right here, which is the 50 fib level, right? And that's going to be right around that 37 to 33 000 area So what I would like to see here in order for me to take a trade is a test if we dropped below this Which hopefully we don't but in the you have to be ready for both case scenarios In the event that we do drop, right? I would be watching for a bounce back Now when it bounces back is when I'd be looking to enter right at that 33 000 mark, right? So uh, usually the way drops work, it'll drop below it and then come back up, right? So on the way back up is kind of where I would make my order right there And try to write that up possibly back up to 35 k area So that's the setup that I'd be looking at if we continue down And of course if we continue below that then the golden ratio 61.8 percent Which is also 30 k that will be my next area to looking to buy and the same thing Just kind of looking for a test and a bounce and I want to I want to enter once I see that bounce So that is pretty much it guys. Um, that's currently what we're watching right now on the charts I know some of you are a little a little scared. You might have bought, you know towards the 40 k area a long term This these moves don't matter guys. This is normal consolidation We're in oversold territory still on the weekly chart So that's something you have to keep in mind and we're just currently consolidating, you know a december november December we had huge moves guys you got to keep that in mind and and bitcoin is still currently up year to date So right now we're just just kind of waiting being patient and taking whatever trades come to us So, uh, there's no reason to panic. There's no reason to sell We're holding strong and we are buying the dips. We recommend you guys also buy the dips Thank you guys for watching this video. I appreciate all of you as always Make sure to hit that subscribe button make sure to like the video Make sure to turn on the notification bell and share this video We want to spread this knowledge of crypto To the masses right we want crypto We believe that crypto will hit 50k in the coming months and uh, we believe that during this bull run this bull cycle We could hit beyond 50 000 as well. Thank you guys If you stayed to the end make sure to drop a comment and let us know Um, what outcoin you guys would want to see on tomorrow's video And we will do a price analysis on the top five outcoins requested Stay safe guys. Don't panic. Just hold and as always peace and love