 $62,000. The new all-time high for Bitcoin. However, soon after we saw a lot of exchange inflow, meaning that whales were dumping back on the market like they usually like to do on Sundays going into Mondays. So now the question is, are the lows of the week in or is there further downside? Will we see $60,000 again this week? All that and more coming up. 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 traders. The goal of this channel is to empower you guys with the knowledge and resources to take you up to that next level. So if you guys are new here, make sure to hit that subscribe button and turn on the notification bell. Also guys, make sure to hit that like button. And if you have a question about anything that we're covering today, drop it in the comments. Alrighty guys. So it was a wild, wild weekend. Right after we put up that video on Friday, basically we took off. We broke above that all-time high. I hope you guys caught that trade because I definitely gave you guys an entry for this trade. And we set a new all-time high up at $62,000 for Bitcoin. Let's go ahead and take a look at the trades that we gave you, right? So the first trade that I gave you guys on Friday's video for the weekend was a breakout above 50, what was the breakout above $58,500, which was right this more or less around there, right? And you see the clear breakout there with a whole lot of volume. And that basically ran us up all the way above 60K, right to $62,000. If you guys would have entered that trade using the 10X leverage like we do, you would have done 60% profit on that trade. In Ethereum, we had more of the same. Remember, we spoke about this on Friday's video, guys. I told you guys this was a bull flag and it was preparing for a move to the upside, right? We compared this side to this side right here and I said I expected a similar break like it did here. And guess what happened there, guys? We saw the same exact breakout. Now, we didn't go all the way to 2K, but we ran up to about 1950-ish that area right there. So if you guys would have taken our $1800 entry there, you would have done about 38.5% profits if you guys use 5X leverage like we did. Alright, if you guys missed Mondays or Fridays trade setups that we gave you guys in the videos, do not worry because today is Monday. And guess what? What do we do on Mondays, guys? We give new trade setups for the week. So let's go ahead and jump right in. So let's go ahead and take a look at the market. As you guys can see, today everything is pretty much red. There's not really much that screen. We do see Vechain over here up 20% today, but it's only up 23 on the week. And then we see Cosmo-Adam as well up. But for the most part, everything is red today. Bitcoin is down about 6% in the last 24 hours, but it's up over 10% in the last seven days. So of course we had a big dump last night. As you guys can see after we hit this new all-time high, we set a new all-time high at $62,000. There was a lot of profit taking there, which led us back down to that 55 to 54K range. So if we pull up our tool right here to see how far that rejection went, that was about a 12% drop from the all-time high, which was about $7,400 or so at the bottom of this drop. Right now we've seen a bounce back up and we're currently around 11% down from that all-time high. Right now we've seen a rebound and we're up to about only a 9% drop now from that all-time high. So we've gained a little bit of it back. Now last night around 12.40am Eastern Standard Time, we did update our trade group that there was a lot of inflow into the Gemini exchange and that there was definitely downside risk from well dumping. If you look at the time here, we're more or less right around that $60,000 range at the time of that. So you guys can see here around 12am we're still up on the top part of this. I believe when I checked the price of Bitcoin we're at that $60,300 level and soon after that remember these are four hour candles. So soon after I sent that is when we had this huge drop off all the way down to that $54,000 range. So this candle was between 12am to 4am. This was between 4am to 8am. So there was a huge drop off during that period and then after that we've been just kind of holding there. As you guys can see we're at the exact support basically that we saw here. You can see there we had that support there and remember the bottom of this range right here that's exactly where we dumped down to. So that is a support there. Remember $55,000 range that's going to be a good support for Bitcoin that needs to hold. If we were to fall below $55,000 then the next level that we're looking at it's probably around the Fibonacci level here. So as you guys can see this level here there is a whole lot of price action on those levels. So that would be the next range that we're looking for for support and if we continued down below that we could see a test of $50,000 to $48,000 range. So how did I see this inflow coming into the exchanges from Wales before prior to this dump? Well it's pretty simple. I was following and I always follow CryptoQuant. They're basically a analytics company that follows all the analytics and tracks all analytics for Bitcoin and one of the more precise thing that it's been following that's kind of been able to somewhat predict whenever there's going to be a dump is the all the all exchanges inflow right. So what does inflow mean? That means when the amount of Bitcoin transferred to all exchange wallets right so that's coming out of private wallets into an exchange wallet. So now why does this information matter because when the Bitcoin is in a private wallet that means that they're just holding and they're not looking to trade it. When they bring it out of their private wallet into the exchange wallet that means that they could be cashing out taking profits trading it for other things and stuff like that. So as you know Gemini is you can connect your bank account to it and they also provide solutions for institutional investors. So whenever there's a lot of Bitcoin transferred into a Gemini wallet it's definitely a cause for concern and as you can see when that happened when that transfer happened we were still at that $60,000 range which is exactly where I notified my team and soon after that is when we saw the big dump off down to $55,000 $54,000. So that was as you guys can see here a 10% drop after that signal. Now it doesn't mean that this will always happen and this will always be accurate but it's been pretty accurate as far as whenever there's been a big notification here as far as a big inflow into the exchange. So you see the inflow there you see an inflow here on March 6th and there was a small dump off there you see another inflow here March 4th right before the dump off as well. So it's been it's given you up basically in heads up before any type of pullback in the last couple months or so which is why we've been using it just to kind of give people a heads up whenever we see it or whenever we come across it. So do I think this is a bearish case scenario for Bitcoin? Absolutely not. Guys we just hit all-time highs there's no reason to panic this is a pullback as you guys can see we were oversold here anyways and this resets the RSI back into neutral territory. If we look at the daily you see that we set this new high now you know surpassing the previous one so we've completely crawled back after we gave you guys the reversal signal. Remember guys we gave you guys a reversal signal out of this pattern a few months ago I'm sorry a few weeks ago and just like we said guys it took us all the way back to new all-time highs not only did it take us back to all-time highs but it took us back almost perfectly to what our target was. So remember we gave you guys this target right here remember this the way that we got that was that was the range of the bottom of Bitcoin here and the top of its peak and then we simply moved that that over here and that's the exact number that it gave us which is pretty accurate right. So we told you we put we placed that at the breakout level and this is the target that it gave us which was almost 100 accurate right which is insane it gave us 61,000 it was around 61,800 right and we ran up to 62,000 and got that's when we got rejected so that was pretty scary accurate if you asked me. Now we just got to wait and see what happens with this pullback when it comes to day trading it's it's always a little bit riskier when there's pullbacks like this so if you're day trading anything make sure that you have that you're managing your risk you don't want to be putting too much risk on these on these bounces because they could be traps. So like we said the support here is going to be right around that 55k area which is exactly where we bounced and then that next support is going to be back down at this Fibonacci level which is right at that 52k area. In Ethereum we're pretty much right back to where we were on Friday so it gave us a little reset but remember we told you guys to be patient here that this was a bull flag and that we were expecting a breakout sooner or later to just be patient and that's exactly what we got there. So that was a beautiful beautiful bounce off this support and breakout of a bull flag which ran us up all the way to 1950 almost got us back to that 2k level. As you guys can see here it was almost the same exact pattern that we told you guys and it played out perfectly right. We got the breakout the exact breakout that we spoke about boom boom so we got and it got rejected almost at the same spot. The only difference was that it continued up because at you know during this time Bitcoin didn't pull back yet. This time Bitcoin pulled back a little bit earlier so that's why we got this part of it before but we should be testing it again because I think we're still early in this move as long as Bitcoin holds and doesn't pull back further then we should be going up to 2k. You can see here that we pulled right back to the same support where we bounced off last time. So that's definitely a good spot to buy here that's that 23.6% Fibonacci zone there so it's looking good everything's looking good here above this level right here so that's at 1720 to 1730 range. That was also if you guys bought on that pullback amazing buy because that's that's the spot right there that you wanted to buy on the pullback. Remember we gave you these ranges on Friday as well for any pullbacks we wanted to enter there at 1720 to 1730 and ride that up to the 1800 level. So of course guys not as much info is needed in ethereum because as you guys know it's mostly correlated with Bitcoin whatever Bitcoin does ethereum is going to do so we don't need to you know do a super deep dive into ethereum but next we're going to talk about the trade setups that we're going to be watching this week. I recommend you guys to pay attention and write these down guys because the past couple months we've been hitting almost every single trade setups that we've given you guys so I know that's what you guys are probably waiting for so let's jump right in before jumping into it make sure that you guys are subscribed to the channel make sure that you're smashing that like button and if you have any questions about anything that we're covering today drop it in the comments we're always happy to help you guys out. Alright guys so the first thing we're going to look at is Bitcoin as always the first thing that we're watching here is for this pullback entry the only entry that we're watching that we really want here is at 55k level so it did hit that earlier if it hits it again if you see something like this again where we go just under 55k and then bounce right back over it that's where you guys want to buy that's what we're looking we're looking for that entry right there for some sort of test of the of these lows and you know a shot back up that's what we want to buy we want to enter that bounce back above 55k so the next entry from there is going to be probably above I would say that 58k so 57k you can use it as an entry I'd be only risking about 1% or less if I'm entering there 58k is going to be a little bit safer but again it's it's still kind of risky because it as you guys can see it was the previous all-time high and so we had some price action there so the safest might be just above that all-time high so above $58,500 that's probably going to be the the safest bounce to play so you can set up your entries above that 58,500 level if we break that again we can expect to see 60k again if we break 60k again we can expect to see 62 so that's basically the entries that I'm looking at there above 58,500 above 60 and above 62 those are going to be the three different breakout entries that I'll be using and I'll be entering and then for the support entry I'm looking at that 55k entry if we were to go lower for any reason than 52k is that next number that I'm watching guess what we're gonna do any theorem guys guess just take a guess we gave you this this exact same setup last week Monday and last week Friday and they both hit so why are we gonna try to reinvent the wheel let's stick to what works and what works is that entry above 1800 yes we've had two fakeouts here recently but I'm still going to use this entry this entry if we finally get the breakout above this 1800 level look at what could happen look at this look at this big beautiful juicy green candle of profits all the way up to 1900 right so I am definitely taking this entry above 1800 the next entry would probably be above 1880 around there and any support so if we're looking and we see more pullbacks here we're using the remember the same entries as here guys we're using the 1720 to 1730 area for a support entry we want to catch that on the bounce back up not on the drop down and that's pretty much it that's simple enough right so I hope you guys have enjoyed this video today I know it's been a crazy few days we had the super pump up to new all-time highs and then we had a big dump off pullback I mean it's only a 12% pullback right that's not that serious we see way we have seen way worse than that this run already so I'm not too worried about it guys it's kind of brought us back into the neutral territory and this pullback is needed to continue up so make sure that you guys are subscribed to the channel make sure to smash that like button for me and if you have any questions about anything that we just went over drop it in the comments it's a new week there's new profits to make this week so let's go ahead and get that money guys I'll see you in tomorrow's video as always peace and love