 So this week has been very relaxed compared to the previous two weeks in the market. There wasn't any fud in the market this week. Wow. We actually got a lot of bullish news that unfortunately had zero effect on the market and things were looking pretty decent of course until this morning when we had about a 7% to 8% sell off here fresh off that Bitcoin option expiration contracts. So what can we expect this weekend? That's where things get interesting. I have good news. I have bad news. Which one do you want to hear first? Okay, okay, the bad news it is. That's why you're tuned in, isn't it? So the bad news is that we broke down out of this pattern into what could be a bearish case scenario here where we retest some lower levels. We spoke about this on yesterday's live stream. But wait, the good news is that if you're still watching this, if you're watching this right now, that means you've survived a 60% drop. A historical 60% drop in the market. Most of your family and friends have probably sold by now as the hype has died out and you're still here. You my friend deserve a pat on the back for that. Let's jump right in. 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 as always is to empower you, the people with the knowledge and resources to take you up to that next level. So guys, make sure to smash the like button on this video. And if you guys are new here, don't forget to subscribe and turn on the notification bell. Guys, we are almost at 10,000 subscribers here. We're hoping to hit 10k next week. Remember that we're currently doing giveaways on Fridays like today. How do you enter the giveaway and when? It's easy. All you got to do is watch all our videos. You got to be subscribed to the channel. Of course, you have to comment on each video Monday through Friday. And at the end of all the videos, once we post all the videos, we will choose one winner for the week. So this week we're giving away $100 in Bitcoin. We're going to go through all these videos in the next few hours or possibly tomorrow and then we're going to choose a winner. All right, guys. So let's jump right into the news. So this week we got Ray Dalio, which is a billionaire hedge fund boss and he admitted that he has some Bitcoin. He also says that he'd rather have Bitcoin over government bonds and that basically inflation was coming and cash was trash. However, this was very bullish news. As you know, he used to be a Bitcoin skeptic. He also included that Bitcoin's biggest enemy was its success as the government is not just going to stand without doing anything about it. Check out these clips from Ray Dalio saying that he has Bitcoin from the consensus interview that he did. Who said he sacks Bitcoin? I think Bitcoin's greatest risk is its success. So in other news this week, we also got a report from Goldman Sachs where they project Coinbase stock will climb to $306 and that they look to DeFi and beyond and even said that they really liked Ethereum. So very interesting report that they do. I recommend you guys to definitely read it. It was a 54-page report. They even touched on subjects like Dogecoin and NFTs. So it's a very interesting report. Probably the biggest news of the week actually came from Elon Musk as he continues to try to repair his relationship with Bitcoin. He said that he sent out a tweet saying that he spoke with North American Bitcoin miners that they committed to publish current and planned renewable usage and to ask miners to do so. He also he ended up saying that it is potentially promising. Michael Saylor added on that that he was actually the one that hosted the meeting between Elon Musk and the leading Bitcoin miners in North America and that the miners agreed to form the Bitcoin mining council to promote energy usage transparency and accelerate sustainability initiatives worldwide. So on that news we actually got a nice little pump here. As you can see we ended up moving up about five and a half percent in the four hour candle here based on that tweet. Then we got our Kevin O'Leary here doubling down on the green Bitcoin. He's spoken about that before. We got some smaller news on more government officials officially owning crypto. Mark Cuban also continues to pump whatever coins he's invested in. Then some interesting news that we got here was that Apple is looking for crypto experience in alternative payments job post. So this would be very very bullish news if something happens where Apple obviously gets into crypto payments and this could be the beginning of that. So Apple has not yet made any public statements on this though. Then of course we got the news from PayPal that they are now going to be letting customers withdraw crypto from their wallets to different wallets. That is definitely some big news because before on PayPal you couldn't move your crypto. Now you will be able to move your crypto. We got another billionaire in the headlines this week as well with Carl Icon a billionaire and previous Bitcoin skeptic the second one this week right that now says that he wants to get into crypto in a big way when asked what does a big way mean he said between you know a billion a billion and a half dollars huge news and last but not least NFL legend and seven time champion Tom Brady is also now in Bitcoin. He said that he owned some Bitcoin and he started actually a NFT project. He has some sort of NFT project autograph or something like that. Not too sure but he says that he's also been talking a lot with his with some of his coaches on the team about crypto for the last six to nine months. All right guys now that we have caught up on all the news from this week let's go ahead and take a look at the chart see what is going on and why we could potentially test $28,000. So on yesterday's live stream we spoke and I pointed out currently what was going on in the chart here which was basically a bullish flag and a symmetrical triangle right so two different patterns they're going on or more or less the same pattern in one right and I said that if that we had to Bitcoin had to make a decision here and we had two different choices it had to either break out to the upside and that would have gave us a target price target of around $48,000 that was a bullish case scenario or it had to break down to the downside which would give us a price target of around $32,000. Now unfortunately we did get the break however it was to the downside so now we're watching for that bearish case scenario if we continue down here on this bearish case scenario we can see a price target between $32,000 all the way down to possibly $28,000 this red line right here so why is this $28,000 mark a spot because if you look back on history like we always do on this channel we love looking at history what happened in the past at the same areas if we look back that's where when we had this here in January going into February that's when we had that bounce that bounce happened right around that $28,000 mark that ended up being the low here 2800 and we could potentially retest this maybe even go a little bit lower to 28 flat just to scare everybody off guys you know you know the market loves to do that they love to get retail investors and retail traders out of the market they love to shake you out before it continues up right so that is a potential that we are facing here over the next few days over the weekend as you guys know there's there's less volume over the weekend so usually it's easier to move the price and you know in whichever direction these market makers want to take it so we have to be careful here over the weekend guys as it is currently a threat until something changes here however I do have a bullish case scenario for you guys so now that we've broke down from here we can pretty much remove this and now just kind of take a look at it for what it is now there's something interesting that's starting to pop out here on the four hour chart if you guys notice right here if you guys notice right here and if you guys notice right here what do you see here this is left shoulder head and right shoulder then you have basically this neckline right here so what does this mean this is potentially okay potentially a inverse head and shoulders pattern so remember before the breakdown once is when the breakdown was coming the way that we saw the breakdown coming and that we gave you guys this this uh bearish case scenario was because we showed you head and shoulders pattern right this was a head and shoulders pattern and that ended up triggering to the downside I told you guys if this pattern triggers we can expect a drop down to the thirty thousand dollar range and that's exactly what happened but now when we're looking at this we're looking at an inverse head and shoulders so what is a inverse head and shoulder well it's simple it's the opposite of a head and shoulders it's a head and shoulders pattern flipped upside down as you guys can see in this chart you have the shoulders the head the shoulder and then it's usually a breakout so you can see here an inverse head and shoulders pattern upon completion signals a bull market investors typically enter into a long position when the price rises above the resistance of the neckline so here's another example as you can see the neckline does not have to be just flat it could be going up and down to be ascending descending doesn't really matter you see the left shoulder head right shoulder and then a move up the move up is measured by the head to the neckline you can see the same thing here with a downtrend uh inverse head and shoulders then once it breaks above the neckline take off trend reversal and again here this one looks more like the one that we're currently seeing where it's a descending line where the neckline's a descending uh line like this left shoulder head and right shoulder so now if we come back to our charts here and we take a look at this that's exactly what we're currently seeing here we have a head we have a left shoulder we have a right shoulder so we have and then we have the neckline here right so this has the potential for reversal this is another reversal signal here right in order to reverse we have to break through this neckline so currently the neckline uh currently stands around $39,000 so it would basically be around above $40,000 I would say it would be the breakout however remember that we've seen several uh fakeouts where we've been rejected so it could fake out again so if you want to be a little bit safer stay around the 42k range um if you don't mind taking some risk then 40k is a good spot to enter if we measure the top of the head to the trend line and move it up to a potential breakout that would give us a breakout up to our round right around again guys 48,000 more or less so that actually gives us the same breakout that we had before let's remove this one this breakout was um out of the uh bull flag breakout um out of the symmetrical triangle this new breakout uh measurement here is from this inverse heading shoulders pattern that could shoot us back up and that gives us a target of around 48 to $50,000 all right guys so we gave you guys the bad news and the good news for the weekend what we're currently watching we gave you a bullish case scenario and we gave you a bearish case scenario as always so that you can be prepared regardless which way the market moves um you want to always have a plan doesn't matter which way your bias is you always want to want to be prepared for uh different case scenarios and uh try to make money regardless which way the market goes so i hope we've been able to help you today with this video we will be updating you guys on instagram on twitter if you guys are in our trade room of course we will be updating you on there as well so last thing guys since it is memorial weekend we will be doing a 25 discount for anyone that signs up to our trade room this weekend only so notice i put this at the end of the video so only those who tuned in to the end will get this code so all you got to do is go down to our description hit show more and click join our vip trading room once you hit that it will take you to this page this is a sign up page basically all you have to do is enter your email and your payment information before you hit pay make sure to hit this right here it will allow you to put in the code as you guys can see this is the code right here you just type that in exactly as it is right there i'm gonna give you guys a second to look at it and then hit apply this will give you guys the discount um instead of 6999 it will be 50 to 49 for your first initial month so you guys can try out the trade room all righty guys that's pretty much it that is a wrap for this week let's see what happens this weekend guys i will see you next weekend as always peace and love