 We are finally back above $48,000 after being in the red for the majority of the week as we expected on Monday's video. Actually, we're about to break $49,000 during this video, so by the time you watch this, we might be above $49,000 at that point. If Bitcoin's price today can close, its daily candle above $48,000 is going to flip that big resistance into a big support and then after that, it's only a matter of time before we hit $50,000 and beyond. Prices are moving very quickly, so let's go ahead and not waste any more time and jump into today's analysis. Hey, what's up? Jay here. 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 guys, the community, with the knowledge and resources to take your wealth up to that next level. So if you guys are new here, don't forget to subscribe to the channel and turn on the notification bell. If you guys enjoy this video and you want to help out the channel, smash that like button. Let's dive into today's analysis. Alrighty guys, so as you can see today, we are green across the market. Everything pretty much is green today and green for the past seven days really, even though this week we started out in the red. Basically everything has bounced back up from where it started and beyond. You'll see there's a few coins here that have been on massive run-ups here. Cardano is up 27% in the last seven days. XRP is up 25%. Doge is up 20%. Polkadot 29%. Guys, look at Solana. 68% in the last week, guys. That is insane. If you go here, you'll see Luna up 70% as well. And a few others like Avax is actually up six figures on the week, over 100%. You will see that the fear and greed index is now over 70% and we are officially back in greed mode. When last month we were at extreme fear, look at that. It was a 10% and now this month we're at a 70%. It has been a very epic month so far. Alrighty guys, you already know that we started this week off pretty much in the red. We had one, two, three, four red days in a row. Then the fifth day kind of had a flat day. This is what's considered a doji candle in decisive indecision, right? And then we had a big green day yesterday. We moved up about 4.5% and today we're up about another 4.5%. So the lows this week so far have been 43,933. With the high being today, we just set a high of $49,040 guys. These are levels that we have not seen. Let's see what's the last time we saw this. Back on May guys, May 15th more or less was the last time that we saw these prices. I am very excited to be back here. It's felt like forever, right? And I hope you guys are as excited as I am. I hope you guys have also been were buying the dip during this whole thing here. We were screaming from mountaintops to buy the dip that the bullhorn was not over. I hope you guys listened and bought and built up those long-term portfolios because that is paying off right now. So the big question is where do we go from here? So the big number that we've broken above today is $48,000. As you guys know, that's kind of where we've been stuck, right? We got rejected here at $48,000 and it took us all the way back down to $43,000. Almost retested $42,000 and $42,000 was a possibility to retest. Now, because we didn't go all the way back to $42,000, you will see that we've kept this going. So we had the high, the higher lows, then we had another high, another higher low. And now we have set yet another high here, a higher high again. And hopefully a higher low once it's all set and done. So where do we go from here? So obviously we need to close above $48,000. If we close above $48,000, then it's a confirmation that we have flipped $48,000 from resistance to support. That gives us a very, very good support there to hold us from dropping back down to that $42,000 level. And it just continues pushing away those any bearish case scenarios and bringing in all the bullish case scenarios here. So the next level that we're looking at to break is $50,000, guys. If you look here, you will see that $50,000 is in line with this Fibonacci level. Now, a few things about this, $150,000 is a big psychological number. But there's really not that much resistance there. If you guys remember last time we broke through it, look at that. The break was pretty clean where we had issues was at $48,000. Once we got through $50,000, it was basically a run up straight to $58,000 before we saw any type of pullback. And we could possibly see something just like that. Remember, guys, I told you guys, I was saying it for probably the past two months. Once we broke above $42,000, that we were going to run up to $48,000. $48,000 was my target once we broke above $42,000. Look at what happened. We broke above $42,000 and we ran up straight to $48,000 before we got any type of real pullback here. So I'm expecting kind of something similar once we break above $50,000. If we get that break above $50,000, I'm expecting it to run. That first resistance is going to be around $52,000. The next one around $55,000 and then probably $58,000 will be. $58,000 to $60,000 is really my main target once we break above $50,000. Because there's not a lot of resistance as you can see last time that we broke up it above $50,000. You'll see that when we broke up here, we ran straight up to $58,000. Then we fell below it. Once we broke above $50,000 again, we ran up to what was it, $62,000. And then we fell back to $50,000. And then once we had that bounce there on $50,000, that's when we set our all-time high here at $65,000. So I'm expecting once we break above $50,000, we could legit run up to around $58,000 to $60,000. Within maybe even by the end of this month, really. Now, September's are usually kind of bearish. So we have to be wary as this month closes and September comes around. If you guys remember last year, September was a bearish month for us after a very nice run up in July and August. We could potentially see something like that again, especially because we're up so much right now. All indicators are very bullish and they could be getting exhausted once we break above and run up to, like to say, we run up above $50,000. Indicators are going to be overbought at that point and might be exhausted. We might need some sort of pullback at that point back to $50,000, back to $48,000. And we could see something maybe in September, early September, where the market pulls back a bit and we kind of consolidate for a bit. And then after September for the fourth quarter, I think, you know, October, November, December could be very bullish months. The same way they were last year that I think could take us back to new all-time highs. So that's kind of, you know, the scenario I currently have in mind. But obviously in crypto guys, there's no way to ever really know what's going to happen. You just kind of got to play day by day and see what happens, see what develops and then make decisions based off of that. So right now you see we're actually over $49,000 at the moment, guys. If there's any pullbacks again, $48,000 is going to be, should be playing that support below that. We're looking at $45,000 to $44,000 again as those supports. But remember, it's still kind of in the middle of the range. The bottom of this training range that we're currently in is $42,000. The top of the range is going to be $50,000. So that's the range where we could literally just range within this. And, you know, that's perfectly normal, perfectly healthy. So you just got to be careful here. Make sure that any trades that you're taking use lower leverage or lower risk or lower amount. And make sure that you're taking them properly using proper risk management, et cetera, et cetera. So remember that Wycoff schematic? Well, I think we can officially say that after that drop, we were in that accumulation schematic. As you can see, we went through all the phases pretty much perfectly, right? And we had our phase D, which was the signs of strength here. We had the last point of support here and guys blast off above these levels into phase E, which is exactly what's supposed to happen in this schematic. So currently in phase E is basically very, very bullish in the schematic. And I'm expecting continuations to the upside. If this is something you've been following, you know, this is pointing to it. All price actions pointing to it. Indicators are pointing to it. Golden Cross is coming now. So yeah, we are on the way back up to possibly retest those previous all-time hunts. In Ethereum, you will notice it's a little bit, it's a little, it's lagging a bit, right? I mean, it's still moving. You see yesterday we ran up about five and a half percent, but today we're only, we're lagging Bitcoin a bit. We're only up about two to three percent while Bitcoin's up about four percent, right? So it's lagging behind just a bit. Now we do have a resistance here that 3300 level or we got rejected at last time. So that's definitely playing a role there. But usually Ethereum lags behind a little bit. That's perfectly normal as especially when Bitcoin dominance is going up. If Bitcoin dominance was going down, then Ethereum will probably be up a lot more. But because Bitcoin dominance is going up, plus Bitcoin price is going up, you know, some of the outcoins are not going to move as much during this time. Now they will still move and probably catch up on their movement. Eventually, once Bitcoin dominance drops has like a red day and Bitcoin just kind of chills, it'll probably catch up at that point. But right now it's just kind of, it is green on the day is just a lagging just a little bit today. Now we're still expecting our targets hasn't changed really here. Our target is still that $3,500 level. That's kind of what we're expecting. Remember, we told you guys that we were buying dips here at 3,000. That was where we were, where we were looking for entries there. So if you guys use that $3,000 entry there this week for a leveraged entry, you could have easily made what it's 11%. If you use 10x leverage, that's over 100% profit on that move. If you guys took that from Monday's video. So easy 100% profit trade there. You guys took that congratulations. You know that the other trade that we're looking at here was above 3350. So we did not hit that one from Monday's video. So our target here this weekend, we're aiming for a breakout here above that previous high that we set here to hit our target here of $3,500. If there's any pullbacks you already know, we're playing this $3,000 level. I hope you guys are enjoying this video so far. If you are, make sure to smash that like button guys. If you're not subscribed to the channel, which many of you watching right now are not. As I can see it in the analytics on YouTube, don't forget to subscribe. Don't forget to turn on the notification bell as well. Now let's jump into some trade setups to make you guys and ourselves as well. Some profits over the weekend. Let's jump in. So in Bitcoin, we're going to try to keep this as simple as possible. Right. The main breakout entry where we are watching here over this weekend is above $50,000. If we get a breakout above $50,000. Now, what does that mean Jay? What does the breakout above $50,000 mean? It means the price goes over $50,000. It means exactly what it says, right? Above $50,000, we're entering a trade. That means that we're setting up trades around $50,025,000, $50,050,000, whatever. Anywhere in that range, as long as it's above $50,000, below $50,100. Usually it's $100 range, right? So we're anywhere in that range, wherever your heart desires, right? That's where we're setting up our entries to trigger as soon as the prices break that level. Now on any pullbacks, we're going to of course be watching this $48,000 level for a bounce back entry. Jay, what does a bounce back entry mean? Guys, it's very simple. Bounce back, right? So just think about the name. It means that we're going to enter on a bounce back and not on a drop, right? So if we're entering on a drop, then we're entering when the price just drops to $48,000. And we would enter. Now, what's the issue with that? The issue with that is that the price could drop down to $48,000 and continue to drop down, right? So if you're entering on drops, guess what? You're probably going to get stopped out a lot. Now, what's a higher probability? What has a higher win rate? A bounce back entry. So what does a bounce back mean? It means that it drops below $48,000 and bounces back above $48,000. On the bounce back, hence the name, that's when we enter the trade at $48,000. In Ethereum, we're still going to be watching that breakout entry above $3350. So that's the first one we're watching. $3300 is a possible level, but I'm not taking it. I'm taking it. I think that one's a little bit riskier. Look, if you would have entered here at $3300, you would have been stopped out. So we're not taking those entries. We're looking for $3350 above that. So $3355 or anything like that is fine. And then the main breakout that we're looking for where we're going to be risking a lot more is going to be that $3,500 range. So that $3,500 level, we're going to be risking probably around 3% on that trade. On $3350, we're only risking 1% on that trade. Now, on any pullbacks, the only levels we're really interested in here is $3,000. So we will do bounce back entries into $3,000 just like we did all week here. And that's basically it for Ethereum and Bitcoin this weekend. I hope you guys have enjoyed this video. If you did, don't forget to smash that like button. Don't forget to subscribe to the channel if you're new here and you haven't done it yet. Also turn on the notification bell so you guys don't miss these videos and these trade setups, these tutorials, the news, the live streams, everything guys. We give you guys so much. So make sure that you are subscribed and you're liking the videos. If you have any questions, drop it in the comments. We're always happy to answer your questions. We're always happy to hear you guys out on whatever thoughts you have. If you like it or you don't like it, it's cool. Alrighty guys, that's pretty much it for us today. I hope you guys make some profits this weekend with these trades. Hopefully you guys made some profits this week with Monday's trades. I will see you guys on Monday. Have a great weekend. Be safe. And as always, peace and love.