 Nine days in a row of green candles on the Bitcoin chart, something that we have not seen since probably around the 2017 bull run. In today's video, we're going to be taking a look at the Bitcoin chart and try to see what we could possibly expect this weekend. Then, of course, like we always do on Friday, we will be taking a look for some trade setups to hopefully make some profit this weekend. So let's not waste any more time and let's 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 community, with the knowledge and resources to take your wealth to that next level. So if you guys are new to this channel, don't forget to subscribe and turn on the notification bell. If you guys have been here before, if you're enjoying this video, smash that like button to help us out with the YouTube algorithm. So let's dive into the analysis. So on Monday, we gave you guys a few different trade setups to take during this week and they hit for profits, guys. So the first trade setup that we gave you guys was that breakout trade above 40K. As you guys can see there, it broke out here for about a 1.3% move up. If you use leverage like we did, we use 10X leverage. That's about a 13% profit on that move. Now that was a smaller move. If you use our bounce entry on 38,000, like we told you guys in the event of a pullback, as we expected, then you would have been able to enter this 38K breakout entry here and write it up to basically $41,000, guys. That there was about a 7.5% move or with 10X leverage, that would have been around a 75% profit on that trade. So we had two very successful trades there and if you guys were active enough, you could have definitely scout that 40K entry multiple times over and made some nice profits over the week. Now, if you guys took our Ethereum trade entries, you guys would have been able to enter at that 2200 bounce back entry. You were to enter at 2200 and being able to write it all the way up to 2450 for about 11.25% profit with 10X leverage. That's 112.5% profit on that one trade if you were able to enter that with 10X. So if you miss these trades, do not worry, guys. We will have some new trade setups that we will be watching and taking this weekend for you guys. So let's jump right into the analysis today. So as you guys can see, this week has been an incredibly bullish week here and not only this week, but basically starting back on the 21st of July, which was last Wednesday and running all the way up until yesterday, we've had nine green days in a row, which is incredible, right? So we are down a little bit on the day. As you guys can see, we're down about 2% for Bitcoin and this pullback is mostly due to Binance being shut down for crypto derivatives trading in Europe and again, Binance being banned in Malaysia and given 14 days notice to shut down operations. So that news has pushed the prices down a bit during the early parts of the day and we went as low as 38,000 through 29. So 38,000, that minor support did hold there and we've been getting a bounce back so far. We're at 39,000. We're gonna see if we can continue this green streak here by the end of this candle here, which would be in about five hours. So in order for this candle to turn green, we would have to close above $40,018 here to continue this streak and have 10 days in a row, which I don't even know when is the last time that that happened to be honest. So what am I expecting here? So the first thing here is obviously we're still not past this main resistance. You've been talking about this and hitting on this over and over and we're going to continue to do so until something changes or something happens, right? So 42,000 is the level that we're watching still until we get above that. Then we can still drop down back down here, which is at $35,000 range and is that Fibonacci support there. We could possibly even test this descending, what used to be the descending resistance. We could test that as a support there and that would be around the $32,000 range at this point. So that's why we have to be careful with this and we need to break up and above this range so that we can head upwards and pretty much scratch out all the bearish scenarios where we're dropping back down to $35,000, $32,000 and possibly even $28,000. So some more resistance that we have here. You'll see that this 100-day moving average is actually right there on top of that $40,000 range. So that's also playing a part in why we've been struggling here at $40,000. We need to get above it and close above this, the $40,000 mark and that 100-day moving average there so that we can have a chance at heading up towards this major $42,000 level. Now you'll see that there's a cross here and if we zoom out a bit here on the chart, you'll see that this downward resistance started back up here at the all-time high, then we got rejected when we tried to bounce back up and it's basically been holding ever since. So it is a resistance that we have to break and it's starting to make sense because it falls in line with the Fibonacci level. It's falling in line with the 100-day moving average. It's falling in line with past all-time highs and past major levels like this $42,000. If we pull up these volume shelves here, you'll see that there's still a lot of volume here but as soon as we're able to get over this $41,000 range around that 41-42 range, you'll see, you'll notice that that's the last area where there's a lot of volume, right? That meaning a lot of buying and selling. Once you get over this one right here, this bar, you'll notice this huge drop-off, right? This is, look at this gap, guys. This gap comes from basically around 41-42 range all the way to that 46.5, 47-48, 46-48,000 range. Now, what does this mean? This means that it will be easier for Bitcoin to move. Once it gets over 42,000, the move should be directly up to around 46-48,000 dollars because that's when the next major volume comes into play. Over here, there's not a lot of interest there. So we should be able to literally gap up through this area once we get above 42,000 because there's just so little volume there, right? So there's not going to be a lot of resistance in these areas. That's why I am expecting as soon as we break above 42,000 for the price to rock it up to around 46-48,000 dollars. And then at that point, we'll be trading within this range here. Now, if we look at Ethereum, we have a very similar story where at the resistance, we have the same 100-day moving average as well there with the resistance and this area up here is again a previous all-time high. So we need a break above $2,500 to basically, once we get that break, we're going to run up, right? Now, how do I know that we're going to run up once we get a break above that? Well, first of all, look at the last time that we broke that level. Last time we broke 2,500, look at these candles. We literally had a run up all the way to $3,500 before we got any type of selling pressure, right? So history tells us that there's a gap here. So how can we confirm that there's a gap there? Well, let's pull up those volume shelves. Now, looking at these same volume shelves, you'll see that once we get above 2,500, the volume and interest there begins to decline. So there's going to be less selling pressure, less transactions in that area, meaning that it's just easier for the price to move. And look at this, once we get above around 2,900, let's say 2,800, really, to 3,000, look at this, guys, look at this right here. There's nothing, look at this drop-off. There's nothing in that area. There's literally nothing here. So once we get above this one here, I definitely expect the price to shoot right up to $3,500. And it could literally happen that quickly. We just need to get through all this area right here. Once we get through it, we should have basically a straight shot to $3,500. Now, do I think that could happen? Well, not this weekend, but I definitely do see it possibly happening between the next week or two. Because remember, on August 4th, we have the update coming. I'm expecting some bullish momentum here in Ethereum with that update. And it's only a matter of time. We could possibly break above this area this weekend and then be able to ride up here and break beyond that in the next week as we get that update. And as that bullish momentum and bullish news just continues to come out for Ethereum there. So that's definitely what I am watching right now. All right, so we've done an analysis on both Bitcoin and Ethereum. Now let's jump into some trade setups. But before we do, go ahead and smash that like button for me. It helps the channel a ton and I appreciate it. I put a lot of hours of work and money into this and I do it all for free, guys. So I'd appreciate you guys if you could take a couple seconds to like this video. All right, so trade setups that I am going to be watching this weekend. So I am not going to be using the $40,000 entry anymore because there's just, there's a lot going on there, right? So I'm going to just be skipping up to the $42,000 entry. That's going to be the first entry and the major entry that I'm aiming for. Same as I said, Monday I'll be shooting for three to 4% risk on the trade if it breaks above $42,000. So that's on the high end of your position sizing. That's basically how confident I am on that trade once we break $42,000. Another possible, but a little bit more risky trade is above $41,000. Now the reason why is because that would be the high above this candle right here. So a break of that could potentially lead to the break of 42. So that's definitely a trade that you want to be taking. Now for this one, I'm only risking 1% of my capital on this trade because I am not as confident in it. And then finally the last trade that I will be looking to take this weekend in Bitcoin is the same $38,000 bounce entry. So if we get a pullback under $38,000, I'll be looking on the bounce back entry to enter as soon as it bounces right back over that $38,000 mark. And I'll enter it the same way I enter these like a breakout trade. Anything lower than that, I'm just not expecting and refuse to put that kind of negative energy into the universe. In Ethereum, yesterday was very, very bullish. It was more bullish than Bitcoin actually. I am expecting a lot of bullish movement coming up to August 4th. So this weekend, we could possibly see some more bullish movement up here in Ethereum. So the first trade that I'm going to be watching here is a break of probably 2,400 is the first one I'm taking a look at. I'm only risking 1% on this one, but the main one I'm going to be watching is a break above 2,500. On this one, again, I'm going to be risking around 3% to 4% on that trade because I am a lot more confident in it. If we get any pullbacks here, then I'm looking at the same range that we jumped in last time for the pullback, $2,200. I will be looking for the same thing that happened here, basically a pullback underneath 22. And then as soon as we get a bounce back above 22, that's when my trade will trigger and I will enter the trade there. So that is a wrap, guys. I hope you guys enjoyed this video. If you did, make sure to smash the like button. If you guys are new to the channel, don't forget to subscribe and turn on the notification bell. And if you have any questions about anything that we covered in today's video, drop it in the comments. Thank you guys so much. Hopefully we all make some profit this weekend and the prices go up into the moon. I will see you guys on Monday. As always, peace and love.