 So everybody wants to buy the dip until the dip actually happens Happy bloody Monday ladies and gentlemen days like today is when money gets transferred over from the Impatient to the patient. I am glad to finally see all the bears Finally out of hibernation for the first time in how long and of course they show up with their typical I called this short ha ha. I'm the best trader ever ha ha Bitcoin is dead. I told you bro Hey, what's up guys Jay here and welcome to Bitcoin daily bringing you guys the best tips tutorials and ideas to help You guys become a profitable and successful trader on this channel We typically cover market analysis trade ideas and tutorials on how to trade to help you guys reach that next level So make sure to subscribe like and share this video guys as we continue to push this community and Continue to push the adoption of crypto currencies in the future So the first thing that we're covering today is a recap of the trades that we gave you guys on Friday. All right guys if I can direct your attention to the little green box right here We will speak about the bigger box soon. I promise so on Friday We gave you guys two trades one entry was on a 41,000 breakout The second entry was on a dip to around 38 to 39,000 So first we're gonna talk about the 41k breakout entry as you guys can see it did happen here You guys can see right here this candle We had a breakout there and we had the same breakout again here on that candle Hold on that was a messed up circle on that candle which reached ended up reaching around 41,500 So if you guys were able to take that trade, hopefully you guys Took some profits along the way and use your trail stops We did as you guys can see here in our trade room We did take this trade and we were able to take some profits on it It was only a 12% profit, but 12% is 12% You know so that second entry was the 38k entry So we spoke about a dip if there was a dip to the bottom of this channel Remember we spoke about the bottom of the channel right here So you guys saw the the dip to the bottom of this channel and then you saw the jump up So we took a dip remember how we said we like to enter these positions on the bounce back up Not while it's dipping so it dipped and then when it bounced back up on this candle right here We were we're able to take an entry at 38k as you guys can see here on the signal in our trade room we We signaled the 38k entry on the bounce back up and we were able to take profits here on at that 39k range for a thousand dollar. It was a thousand dollar move which ended up resulted in a 26.3% profit if you were able to take profits towards the top there If not, you at least took profits somewhere before hopefully before the way down So that was another profitable trade that we took over the weekend here The big move that we're happy to catch for you guys was on ethereum So on ethereum, we told you guys a break of 1250 We were entering that trade right so that break was right at this box as you guys can see It was right above these candles right here and then we broke exactly as we spoke about there And we ran up all the way to about 1350 right at 1350 was where the rejection was so that move ended up being a 40% profit if you use 5x leverage on it And if you're able to sell at the top if you sold anywhere in between you still made some good profits on it So now with that out the way, let's go ahead and talk about these red boxes here that I've drawn on the chart So I made a post yesterday pointing out this this weekly cycle That's been going on for the last one two three four weeks. So for about the past month or so We've had this same exact cycle every Sunday and Monday every time that we've gone from Sunday to Monday It's been typical up to see a sell-off at some point during one or either both those days or one of those two days So on so this Sunday we had a 5% drop-off from a high of 41,527 to a low of 34,900 and then today we had a we've had a 14% drop-off so far To a low of 33,377 now everybody's panicking a bit because it's bigger than our prior drops Our our drop last Monday was a 3% drop It is what it ended up being but prior to that it was a bigger drop the same thing with the week before that We had a drop that Sunday The week before that we had a drop that Sunday and Monday So we've had drops every single weekend on either Sunday or Monday or on both days It's been a pattern for the past month And this is something we made a post about this on Instagram. We spoke about this in our trade room so it was it was something that was expected and Obviously the amount we don't know what the amount is, you know, I Think that now as more and more retail traders are entering the space their Introducing more volatility into the space as well Because retail traders at the end of the day are the ones who panic when there's a move or some sort of correction Because they don't understand the market. So if you notice after every single drop-off we the price went right back up There you go drop off price went up drop off price went up drop off price went up and This this is this week's drop-off. So We're expecting a bounce here. If you notice here, we bounced right here, which is what? Boom that's sixty one point eight percent. That's that's the golden ratio in Fibonacci, right? So that's a very very big area where we should see a lot of price actions in both directions But we should definitely be seeing a lot of buyers there as you guys can see not only is that the golden ratio right there But that's the 30,000 mark. What does that mean? That's a huge market psychological number 30,000 is a huge whole number That means a lot of buyers are gonna be coming back in at 30k as you guys can see right now 30k is the low on this drop and we saw a bounce So all of this is connected these guys can see it's connected to the sixty one point eight percent level connected to the huge Psychological number so this is a huge number that we're watching right now to hold here, right now Of course, there's no sure thing in trading. There's no sure things investing You're just trying to find the most profitable setup possible where the probabilities are in your favor That's what you're doing when you're a trader you're there's never gonna be a 100% guaranteed trade, right? But because I understand market psychology, I understand Fibonacci levels I understand retracement I entered a small position here at that 30k level and For my long-term investments because I know that that's a high Probability setup that and there's a high chance that Bitcoin is going to bounce at $30,000 now in the event that Bitcoin does not bounce at 30 and we continue lower than the next level that we're looking at is right here that 78.6% Fibonacci retracement level which as you guys can see was also right here where we had a bounce last week during the drop-off Which is around that 27 to 28 thousand dollar range and it's also last week's weekly lows So there will be a lot of buyers coming into the market right here So that's something else that you guys should be prepared for that's something else that we're watching if if the price We're to continue down This is where we're going to continue to a dollar cost average as I've we've spoken about a lot And we're gonna continue adding to our long-term positions now when trading in these conditions You have to be very very careful because There's a lot of volatility going on right now and it could jump either way very very fast and it could liquidate your position Or stop you out very fast So if you're entering anything you should probably be make sure a hundred percent you should be using a stop loss Number two is be aware of where your liquidation price is if for any reason your stop doesn't hit or the price moves Before your your stop is set up number three You should probably not be trading with leverage right now because these dips are the opportunities to add to your long-term Investment so that's what we've currently been doing We've been adding to our long-term investments that we don't trade we just hold in these conditions You got to be patient guys you don't have to be in every single move in both directions You just got to be patient and wait for your shot You got to be like a sniper in these conditions got to be just just waiting for that one trade pop it Take your profits boom move out you know I mean alright So looking at a theorem you can kind of see the same thing right here any theorem the same thing guys A lot of volatility on Sunday and Monday remember it's very correlated with Bitcoin So it kind of more or less follows its price action So although we're currently down about 19% today don't forget that year-to-date a theorem is up 36% guys You can see right here year-to-date a theorem is up 36% and they'll pass year. It's up 391 percent It's easy to forget in times like these high short sellers So here we're looking at the same thing a theorem drop down to this 61.8% Fibonacci level you can see the bounce right here and currently it's just broke back up and above a Thousand which is also happens to be above this 0.5 Fibonacci level which also happens to coincide with that $1,000 mark guys. So as you guys know 1,000 is a very big whole number in the market, you know when it comes to market psychology people love that number So I definitely like this trade here at 1,000 for long-term positions This was the other that 68.1% Fibonacci level was the other place for entry for long-term positions And it's only a matter of time guys before we get right back to where we were and test these these all-time highs This is all part of the normal market guys. Look how oversold we were there So we're basically just kind of resetting that those RSI's and getting back into normal territory here as you guys can see there All righty guys up next we got what you've all been waiting for trade setups for the week If you guys are enjoying this video if you're finding value in this video Make sure to subscribe guys make sure to hit that like button and share it Make sure to also turn on those post notifications so that every time we post up a new video You're notified and you able to catch those trades because sometimes these trades happen fast, you know what I mean All right guys saw on Bitcoin. This is what we're gonna be watching this week. These are the entries are gonna be looking at The next few days so the first thing is if we go back down We're watching very closely this 61.8% Fibonacci level Alright, that's Right in line with this support here where we had that bounce last time. It's also in line with 30k Okay, so all that's grouped there together So it gives us a good reason to look for a high probability long setup There gives us a good reason to Expect a lot of buyers coming in there and to expect a bounce, right? So of course the way we're entering it. We're not trying to catch it the drop We're trying to catch the bounce guys always where remember anytime. We're looking at support entries We're never entering on on a drop like this. We're entering once it bounces back up So that's the first entry that we're looking at this week if we go back down to test it As you guys can see we've already tested it in the in the event that we go back down and test it again We'll be looking for a bounce back up and that's a trade that we would buy, okay? The second entry here that I would tell you guys is a little bit of a safer play So this would be a breakout entry I would look to enter a breakout entry above 35k which is just around Above this candle right here. This is also the 38.2 percent Fibonacci level So so we like that level there 35k is also a big whole number So it is definitely a good spot for a breakout entry for anyone looking for that any theorem very similar guys We will be looking for entries testing this 61.8 percent Fibonacci level remember that guys that is the golden ratio And that is where most of retracement's like to bounce So we're playing that level as you guys can see there's a bounce there and then on this one We're going to play the 0.5 or the 50% Fibonacci level, which you can you guys can see here It was a support and resistance here and you guys can see here There was a bounce there and now we're currently testing it as resistance. So on this one I like that $1,000 entry. It's also that big whole number as I told you guys earlier So I like that plus it's on a Fibonacci level plus It's it's proven to be a lot of of of buyers and sellers in that area So that breakout entry that we're going to be looking for any theorem is going to be that 38.2 percent Fibonacci level which also coincides with that 1100 a Theorem level and as you guys can see there's a lot of price action there. So that's definitely another spot I'm going to use as you can see there are there were bounces there before and there's been a lot of price action on Over here and over here. So I will be using that as an entry as a breakout entry there It's also right above this candle right here. So I like that So that'll be the next breakout entry that we're looking at this week and from there We expect a test of this Fibonacci level right here, which is the 23.6 percent which is also that twenty twelve hundred level and We expect to test this yearly high and Then we expect to test the all-time high here for a theorem. So that's what we're watching any theorem this week That wraps up today's video guys. I hope you guys enjoyed it I hope you guys took down notes and wrote these trade setups down so that you can guys can possibly take these trade setups This week and make some profits when we get that bounce back up Tomorrow we're going to be talking a little bit about how to buy the dip in Situations like this. We're gonna talk about the proper way to do it and and we'll dive more into that So stay tuned for that guys stay strong hold those positions hold that Bitcoin and We'll be back with you guys tomorrow as always peace and love