 So we didn't get much volatility over the weekend but we did still get that drop that we were expecting going into the weekend. So the good news is that the 30k level here has held which is probably what we're most worried about. The bad news is that we're still at risk of falling below and dropping and losing that 30k level unless we see a convincing bounce very soon. So let's not waste any more time and dive right into today's analysis. 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 the people with knowledge and resources to take you up to that next level. So if you enjoyed this video don't forget to smash that like button and if you're new to the channel subscribe and turn on the notification bell. Alright so you guys will see that the market is pretty much red everywhere today in the last 24 hours the biggest losers are Thorchin and Amp. The biggest winner here is Dash which is up almost 15% in the last 24 hours. On the fear and greed index you'll see that we're still at 24 which is still extreme fear. If we look at the heat map for today you will see that we are swimming in a sea of blood with one lone green island which is Ethereum Classic. Why is Ethereum Classic the only green coin today? Who knows moving on. So you will see that over the weekend we didn't really get much volatility. We stayed basically between 31 to 32k and then today this morning is when we got that drop that we've been expecting basically right since last week. So you'll see that we're down currently about 3.4% on the day currently we have about five and a half more hours left on this daily candle before the new one and we're currently down to $30,000. So this is good and bad it's good because we didn't lose 30k but it's bad because we're at 30k right. The longer we stay down here the longer that we risk possibly losing it. Now we're still pretty much in no man's land here right. We're literally right in the middle of this channel here. So we need to see a move if we don't see a move up we might be testing the bottom of this channel here which is around that $28,000 level which is something that I don't want to see because the more that we continue to test the bottom of this channel the more likely that we might fall below it. You'll see that here at 30k is the last shelf of volume and after that there's a huge drop off. There really is no more big areas of interest to probably around $24,000. So that's why we need 30k to hold here. If we fall below it there's no telling how low we could go it could possibly be 24,000 so you know we need this to hold here. If not that's basically what we will be facing. As far as patterns go not really any any patterns to point out currently we're still in the same thing that we were watching before. This could be taken as either a descending channel or a falling wedge. We have to continue to let it develop to see what it ends up being. Now the one good thing that we do have going for us is that we do have some bullish divergence here on the daily. As you guys can see the RSI was this was the low for the RSI and it's basically been making higher highs and higher lows ever since. So we have a pattern basically going up while the price has had a pattern going down. So that is definitely bullish divergence on the charts and you already know bullish divergence means there could be a move up coming soon. It could be a point of price exhaustion to the current move which is currently down. It could be a hint of a coming reversal at some point. So you know it it's definitely bullish. The thing is you know it could still take time. It could still continue lower even though we do have the bullish divergence. So that's something that we will be watching here. In Ethereum we're pretty much seeing the same thing here just mainly following Bitcoin's price action. We do have the upgrade coming on August 4th so we will be keeping an eye here on Ethereum. You'll see that we lost that support here which was at $2,000 area and we've had trouble getting back above it. So that's definitely something that we're watching here. Now one thing to definitely note here is that there's a lot of interest here at this price. Right. You see these the volume shelves here. This is between basically that 1800 to 1700 area. It's been also a previous support in the past here as you can see many times over and when we've lost that support we've had basically big moves down. So if we were to lose this support we could expect possibly a move back down to around 1400 but as long as we hold this support which I think we will depending but of course it all goes back to Bitcoin right depending on what happens with Bitcoin over the course of this week. As long as we hold this then we should be going back above 2,000 as we approach August 4th for the upgrade and possibly revisit levels up here which is around that $2,500 area. So basically we just got to get through these next two weeks and after that I believe we have a bullish outlook on Ethereum. So what are we personally doing here right now in the market? So 30,000 like we told you guys on Friday's video is a great level for your dollar cost averaging. So if your dollar cost averaging for your long-term portfolio 30,000 range where we're currently are right now it's the perfect spot to add to your DCA strategy. If we go lower that next number is 28,000 is where we will be adding some more into our DCA and below that we're probably looking around 24,000 to add again. Now for short-term leverage trades remember we told you guys $32,000 you know we wanted to see a test of 32,000 and if it got rejected and dropped back under that's where we're taking short-term short trades for Bitcoin and if you took that you're definitely made some nice profits today. We're going to be looking at that same exact number we're still taking short around 32k if we can bounce back up to that. If not we will be opening new short positions if Bitcoin's price falls under 30k and if we fall under 28k those are the trades that we will be watching over the week and that's pretty much it guys you know right now we're just kind of sitting and you know waiting kind of boring I know the last two months have been very boring in the market unfortunately you know I know some people are getting anxious and maybe nervous guys you just gotta wait it out man time is gonna do its thing eventually the prices will move back up stay patient continue building your portfolios continue to learn you should be using this downtime to really get your knowledge up really get your skills up so that the next time we step prices start moving a lot you're ready to take advantage and capitalize on those opportunities so just because we have some downtime right now does not mean you should just be sitting back and not doing anything this is what we did between 2018 to 2020 last year and we were able to capitalize like never before in this bull run that we had you know all the way down from 4,000 all the way up to a high of $65,000 so these are the moments in time where you could change your life in the future for the better your future self will thank you if you take that time and you put that time in right now thank you guys so much for watching this video I will see you on the next one as always peace and love