 Bitcoin is on the move again Finally, we got a very very bullish weekly close here as you guys can see we close with that bullish hammer Which should create the momentum that is needed in order to set the runway for December to be One of the biggest months that we could possibly see this year on Friday's video We spoke about this 53k level and you can see that we tested it one last time yesterday and actually set a lower low at 53.3 before Continuing up higher and heading up to a high of around 57,500 yesterday after Touching that 53k one last time today. We've actually gone up as high as almost 59,000 We hit 58908 and I am definitely expecting a follow-through here this week So let's go ahead and dive into this week's analysis on what we can see as we finish out November and Start out December the final month of the year. Let's dive 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 is to empower you guys the community with the knowledge and resources to help you get up to that Next level, so if you guys are new to the channel, don't forget to subscribe Turn on the notifications if you guys enjoy this video smash that like button for me Let's try to hit 100 likes on this video last video. We got really close. We hit around 72 likes I think that we can definitely hit 100 Everybody just smash that like button and of course if you guys have any questions Just go ahead and drop it in the comments So on Friday one of the main trades that we gave you guys was that 55k entry So basically the way that you entered that was above on the break above $55,000 we were entering that trade if you guys were able to ride that up with 10x leverage like we use then You guys would have done around 70% profit on that one trade if you of course you wrote it up to the top If you sold let's say at 58,000 where it's currently sitting at right now You would have still done over 50% profit on that trade. So congrats to you guys Remember that if you guys want to trade with leverage we use by bit and you guys can check that out right down here in the Description just scroll down and you'll see right here is this trade on by bit with leverage You can use our referral link here for a bonus on your initial deposit Also, if you go to our playlist and go to trading tutorials You can see we have many different tutorials on how to trade on by the alright So if we pull up the monthly chart here as we come to a close for November You guys can see that we're currently down about 5% on a month in order to get into the green We would have to go up to about $61,300 that will put us around break even and maybe even into the green if we go above that which is a possibility Before the month ends we have one day left other than today to get there now I saw yesterday we went from 53,000 to 57,000 so we could definitely go from where we're at right now Which is around 58,000 and get up to around, you know Maybe sixty one sixty two thousand dollars. That is definitely a possibility So be prepared just in case that happens and we end the month very very strong and in the green Now if we zoom in a bit, you'll see that we have been trading within this channel here and we're currently down here at the bottom which is also this previous resistance over here which rejected us way over here in the summer and It's what's been our support here as we've gone higher and sent me all-time highs Currently we're sitting right in that area So that had confluence with this ascending support here that has hit on three different levels here Making it a very strong support area there along with this green support area here And it's basically telling us that we're going up to possibly this level right here Which is the top of the channel as you guys can see we've hit the top of this channel on several occasions now and I would imagine that we're Setting up to hit the top of the channel probably in December So we zoom in a little bit more to the daily here You can see exactly what that would look like here and the top of this channel actually puts us around that $87,000 range so that would look something like this I would imagine that we'd probably go up to or the previous high Maybe test and maybe get rejected from it one time before then breaking through and and of course It's just a projection here of what it could look like, you know Somewhat but things will definitely go way differently than what my projection here looks like we always it was this easy and this clean Unfortunately, it's not but we know that when Bitcoin decides to move it Moves if we know anything about Bitcoin's historical Parabolic moves, so that's what we will be probably counting on here to hit this 87,000 and beyond price target so I've shown you guys a couple different scenarios with a few different price targets and a lot of them have been within this Same exact range as you guys can see here with this one the projection here would be around it'll put us around 87,000 that's the top of this channel that we're currently trading within if we look at last week's analysis We made this projection based on the last time that we had a pullback Based on a bearish divergence that was on the chart Which is the same thing that we had that happened to us this time and this here gave us a target of around 85 83,000 dollars and if you guys want to look even further back this projection model We made back in August this one was based on the last time that the hash region Signaled a buy it gave us a run up of around 256% when that happened so we just kind of grabbed this we moved it over here and We projected the same type of moment that gave us a movement of around a hundred and one percent in a price target of around $92,000 so if you put all those projections together You shake it up and stir it a little bit. It kind of averages out to around 87,000 So there's a lot of confluence and a lot of pieces of the puzzle pointing to the same number So this is this is kind of our target if we get a move up here in Bitcoin for the end of the year Now they are definitely a lot of other scenarios out there and there's people that their price targets are you know $100,000 $200,000 even $300,000 I think plan B's projected price by the end of the year was 135 and a few other analysts that I follow are talking about around 200,000 using historical data, but we like to keep our price targets usually a little bit more conservative and then Revaluate once we hit that price target. So that kind of is what has worked out best for us in my experience So for the continuation to the upside here this week We need to break and close above this resistance here You guys can see that we've had this descending resistance here since back at the mid October that began We broke above it once already so once we broke above it We set a new all-time high and then we broke below it which took us all the way back down to 53 And now we're on the brink of breaking above it again So we definitely need to get that break above it and that should send us back up You'll see that we do of course need to break above the 50-day moving average as well That's currently sitting around $60,000 which also happens to be of course another Resistance there on the way So I think once we break those two levels Those are probably the most major levels that we need to break on the way back up then we'll have some minor resistances at sixty two thousand 65 and then of course our previous all-time high which is up here at sixty nine thousand dollars I don't think we will go back down this week unless there is some type of a news catalyst that pushes us back down with the Coronavirus maybe something gets worse in or whatever it may be that sends all the markets down then again our Support will lie down here at fifty three thousand as long as nothing like that happens I don't think prices go back down to fifty three. I think we've already set the lows We've swept the lows multiple times over now I think we are ready to go back up the RSI has been reset here and And you could even see that we've gotten a break here on the RSI. So so I'm definitely Expecting prices to continue to the upside this week. Remember our projection back about a week or two ago was for this next leg up to begin between the 26 and The first of December so that was this Friday that just passed all the way till December 1st as the window for us to begin the The beginning of the next leg up for Bitcoin to set some new highs So we're still within that time frame and I think that we will get it I think we might have even started it already Of course only time will tell if we continue up from now through Wednesday If we continue up then that pretty much Reassures us that we have begun the new leg up to the upside and we should prepare to see some New highs and what could possibly be the blow off the top the peak for Bitcoin's price this run So if you made it this far guys, don't forget to smash that like button We want to try to get a hundred likes on this video. That is our like go for the video last one 72 I think we could definitely hit our hundred if every single one of you smashed that like button if you guys are new to the channel Don't forget to subscribe turn on notifications and you have any questions based on anything that we've covered Don't forget to drop it in the comments next We're going to talk about some trade setups that we will be watching this week to try to make some profits So let's jump right into that. All right guys So the trade setups that we're going to be watching here. The first one is at $58,000 Mark, you can see that we're currently sitting on it right now Now this is an area of importance, which is why we could see some Consolidation here, but I do expect this to be the level that once we break above it and close above it for Prices to just kind of take off that next important level However, if you want to be a little bit more conservative and stay out of this possible Consolidation in this range if you can play the $60,000 area, but again, there's a lot of resistance there There could be fake outs or could be consolidation before Continuation up so then that final level will be above $62,000 as a break out So those are the three different areas for entry depending on your risk tolerance 58 60 and 62 I'll be looking to take trades at all those levels if we have any pullbacks for any reason, of course We're looking again at 55 K and 53 K as supports so you can use those levels as bounce back entries That's it for today guys I hope you guys enjoyed this video if you did don't forget to smash that like button We're trying to get to 100 likes on this video if you guys are new to the channel Don't forget to subscribe turn on notifications and if you have any questions drop it in the comments Hopefully we can all make some massive profits in this coming month and maybe enough profits to change Each one of our lives. I will try to help you guys make those profits and make those gains on this next run up All righty guys, that is it for today. I'll see you guys on the next one as always peace and love