 Bitcoin has gone up as high as 18% over the last two days. This is coming off of another Elon Musk tweet, unfortunately, but at least this time, it is a bullish one. Cointelegraph tweeted an article that was criticizing Elon Musk for alleged Bitcoin pump and dump. As you guys know, Elon Musk is very, very active on Twitter, and he replied to that tweet saying that this is inaccurate. Tesla only sold 10% of holdings to confirm Bitcoin could be liquidated easily without moving the market. He went on to say that when there's confirmation of reasonable around 50% clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions. Of course, it's got a bunch of different replies from all sorts of different people, including myself. So my question to Elon is basically where are the banks and the gold mining when it comes to clean energy? Why is it that Bitcoin is the only one being graded on this specific scale and standard? If being green and clean energy is the case and standard for Tesla, then shouldn't they stop taking bank wires and ACH payments from banks? Because they use way more energy and they're way less efficient. And I understand that they're trying to set a new standard as they move forward with something new with new technology, but come on, bro. In other news, billionaire hedge fund manager Paul Tudor Jones also made headlines today, he said that he wants 5% Bitcoin allocation to his portfolio. He brought up inflation concerns and said, quote, the only thing that I know for certain is I want to have 5% in gold, 5% in Bitcoin, 5% in cash and 5% in commodities. So with all this bullish news is Bitcoin finally prepared to break out of here and head higher. Let's talk about that today. 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, the community with the knowledge and resources to take you up to that next level. So guys, make sure to smash that like button and if it's your first time here, make sure to subscribe to the channel and turn on the notification bell. What a difference a week can make guys. Just a week ago, we were all the way down here. We have broken down from this triangle and we went as low as $31,000. We're talking about possibly going even lower to retest that previous $30,000 to $28,000 maybe and beyond that. We really didn't know which way we're going after that. So this week it's already a different narrative and story here. We've got the El Salvador legal tender news on the ninth of last week, which was a 12% move. Then we kind of bounced around and yesterday we got the tweet from Elon Musk that gave us another about 10% move and today we got Paul Tudor Jones, which gave us has helped us get to about another two to 3% move to the green side. Now we're still facing a resistance here and we're still facing this Bitcoin death cross here as well. Shorts are still at levels not seen since March of 2020 when the pandemic hit. But I'm going to tell you why this is a good thing and I hope it goes higher. So the first thing here when looking at the chart that pops out here is that we finally broke this descending triangle here. It was a descending resistance and we broke to the upside here and closed our candle above it. So that was a confirmation of the break when we closed here. And then today we've continued up and not only just gone up, but we broke above $40,000 for the first time since around what May before we started heading lower. So those are two of the key resistance levels that we spoke about last week. Guys, we were speaking about this having to break out of the descending triangle. We spoke about the big $40,000 psychological number. And then we spoke about the last level. Remember $42,000, which is a previous all-time high. It is where the moving averages are. It is a Fibonacci level. They're just so much going on there, guys. We've been rejected from it multiple times over. So this is where a lot, a lot of price action is going to occur. I've been saying for probably the last month or so, I've been saying that if we can get above $42,000, guys, then we can possibly shoot straight up to $50,000. And that's why I spoke about the Bitcoin shorts being at all-time highs, guys. Guys, what this here means is that we could potentially have one of the biggest short squeezes we've ever seen in Bitcoin. And a short squeeze at this point would probably happen above $42,000. Now, what that would do is that we're going to get a cascade, basically, of short positions being liquidated and closed and stopped out of trades, which would mean that they would have to go back along into Bitcoin, which in turn would push the prices higher and higher. So that's where we could get candles like this as big as anywhere between, I would say, 10% to 20% daily candle is something that we could see if we were to do that. If you look right now from the bottom where we were last week to where we currently are, we've moved 32%. So that's been a 32% jump up from that bottom to the highs that we've hit since then. And if we break above $42,000, guys, I believe that we could potentially go all the way up to 50, which would be around another 18% jump up in the Bitcoin price. Now, guys, if that happens, that would take us out of this. That would take us out of the backdoor possibility of going back down to $30,000 and possibly testing levels below as low as $17,000 to $18,000. And that would put us on a trajectory to possibly retest the $60,000 level and previous all-time highs at $65,000. And what I believe is that it will get us to my prediction of Bitcoin being at $100,000 by the end of this year. Another thing that's popping up on the chart that I pointed out on Wednesday's live stream here, if you guys can see, we had a bullish divergence here on the RSI. Now, remember, bullish divergence is when the RSI is going up and setting up higher highs and higher lows. And the price action is going in the opposite direction, setting up lower lows and lower highs. So that is a bullish divergence. And that is another signal for a reversal. Now, of course, we cannot forget that we're still here about to face that Bitcoin death cross. If you guys want more information on exactly what the Bitcoin death cross is, you guys can check out this video here, Bitcoin death cross explained where I go over exactly what has happened historically with Bitcoin death crosses. And if you guys want more information on what a lot of us are thinking at this point, which means a bear trap, you guys can check out Friday's video where we spoke to another analyst and he broke down how historically in Bitcoin, a lot of times a Bitcoin death cross could be a fake out signal. So if that story ends up becoming true, that aligns with our current price moment, it aligns with the current amount of Bitcoin shorts that are setting up right now. And they're basically setting themselves up at this point to get squeezed and get liquidated and take huge losses, guys. So it's all kind of lining up at this point where we could see a huge move in that can catapult us up back above $50,000 in in the next coming days or possibly weeks. So one thing to look at here that I want to point out, remember our Wycoff method explanation video here where we spoke about both Wycoff accumulations and Wycoff distributions, we pointed out two different case scenarios that was currently on the chart for Bitcoin. And if we take a look at the accumulation case scenario that we showed you guys here, you can see that it's been almost following it to the T. So when I made that video, I said that we were currently in phase C here where we were in basically what's called the spring that shoots the price up after retesting the selling climax price. Now we didn't go that low, but we did go pretty low and then kind of took off just like the spring, right? So that would currently put us in phase D of the Wycoff accumulation schematic. And you can see here where we kind of go up a bit and then drop down a little bit less. So that would be the last point of support here. And then as you guys can see, we moved up again today and kind of went back down a little bit. We did test this right here. That's been the main resistance. As you guys can see here, we've been rejected from there here. We've got rejected from there again. And then here we're at it again. It looks like we're setting up another last point of support here before continuing up. Now if we test the top of this resistance here, which would be $42,000, that would be a show of strength in the phase D. And then phase E, of course, would be the takeoff. All right, guys. So I know everybody's very excited about the sentiment kind of changing here as we continue and see what further develops this week. So let's go ahead and talk about some trade setups that we're going to be watching this week to take if the price continues on in this trend here. If you guys are enjoying this video so far, make sure to smash that like button, guys. If you're new to the channel, don't forget to subscribe and turn on the notification bell. If you guys are ready to squeeze these shorts, let's go ahead and all smash that like button at the same time to squeeze their necks. Let's do it on three, guys. One, two, three, boom. Alrighty, guys. Now that we're all squeezing these shorts by the neck, let's go ahead and talk about the trade setups that we're going to be watching this week to try to make some profits here. So the trade that we've actually been taking today already, we've already made some profits today on this trade was that $40,000 entry. So you see that we're currently just under $40,000. We're going to be reusing this $40,000 entry and writing it up. We're looking to take profits around $40.5,000, you know, as close to $41,000 as possible. And then that next entry, and this is the one that we're going to go ham on. We're going to go hard on this one. Usually also on the $40,000 entry, we're only risking about 1% or less of our capital. But if we get above $42,000, I have so much belief and conviction in this trade. I'm going to be going up around 4% to 5% risk on a breakout to the upside above $42,000 because that's how much I believe in that trade, guys. Now, like I said, you have to be prepared for some volatility here because there could be wicks in both direction. You know, just set up a stop loss. If you get stopped out, set up the trade again and keep taking that trade. I'm telling you guys, it's going to take off. That's going to lead us to much higher prices here once we can start liquidating and start squeezing those shorts. So that's it, guys. Those are the two trades that we're looking at this week. If there's anything else, we'll update you guys throughout the week. Make sure to follow us on Instagram and Twitter. You can find the links for all of that in the description. Thank you guys so much for watching this video, guys. Make sure that you smash the like button. Make sure that you subscribe to the channel and turn on the notification bell, guys. Bitcoin is looking up here finally for the first time in about a month. So we're super excited to hopefully get back on track to making some profits for you guys. Alrighty, guys. That is it for us. Have a beautiful Monday. We will see you guys tomorrow. As always, peace and love.