 What's going on ladies and gentlemen and welcome back to Bitcoin daily in today's video we are doing a full market analysis on what's been going on throughout the week what's going on with Bitcoin right now what trade setups we're looking at for the weekend and we're going to do a recap of what happened throughout the week. So before we begin as always make sure to like and subscribe hit that notification bell and drop a comment. Let us know what you think of these videos. Let us know if you have any other ideas or any special requests on videos that you would like for us to make. We're always happy to hear those ideas and make some videos to help you guys out. So let's jump right in y'all. So it is Friday today the December 4th guys 2020. It is almost the end of the year. Bitcoin is at all time highs and we're just patiently waiting here for this new all time high right. So let's look at coin market cap like we always do and just kind of take a look at a few numbers here. So the first thing that we're looking at is that market cap as you guys can see it is currently at five hundred and fifty six billion dollars. And Bitcoin's dominance is currently at sixty two point eight percent. All right. If you go down here and look at what's been going on in the market you'll see that we're currently down about two and a half percent today. But over the last seven days we're up about ten percent. Same thing with theorem down about five percent on the day over the last seven days up twelve point seven percent. XRP is down ten percent today. So that's a big follow today. But it's pretty much flat on the week. Light coin down seven percent today but it's up 17 on the week. Bitcoin cash down to today up six on the week. Chain link down seven today up three and a half for the week. Cardano up down seven today but it's up ten on the week. Polkadot down five but it's up seven on the week and Binance. How did Binance make its way up here right. So let's jump into the charts y'all see what we're looking at here. What we got for this weekend. So as you guys can see we're still just consolidating in this range. We have the same pattern that we've been looking at right. So we have this this big impulse move up and then we have this consolidation here. So we're just kind of waiting here. You know I know a lot of people are waiting for something to happen here. But if you look at this pattern it's a bull flag right. So we have the impulse move up and then the consolidation after right with with lower volume and all that. We have a descending resistance zone up here. And you know we're just kind of bouncing around here. So pretty much right now we're just kind of waiting you know it's just a waiting game. I do believe we're going to break this in. And I think that this bull flag is going to lead is what's going to lead us to the break of this all time high. So we just got to be patient because there is a lot of sellers here. There's a lot of resistance. So we just got to keep fighting through that for now until we have enough momentum to break up. So once we break up then we should probably shoot up to 21. I would imagine since there's really you know this is just kind of open ground here once we get up there above 20. So so that's just kind of what we're watching right now what we're waiting for for the weekend. We're basically looking at this range that we're trading within and trying to catch something you know either the bottom of the range or breakout right. So let's let's hear. Let's see let's get the range. Let's draw the range here. No I don't want this. So basically I'm looking to enter here probably trades within this current range where it's at between 800 to about 700 right. So that's kind of where we're looking. Let's draw that there. Right. So we want to we want to really look at the bottom of this range here and try to figure out where you know we want to enter. So basically you see that we've tested this down here several times. We've been down here one two three four five six seven eight nine ten right. So we have a lot of candles that have been bouncing here. So we know this is a pretty strong support. Now what we want to do here is kind of buy in this in this general area right. So the way I like to buy is I like to buy once it's tested the support and then it's kind of bounced back up. So that's kind of what we've been watching here. We want to see a bounce here. We don't want to see this continue down if it continues down. It's not really something we want to get into because it's just it's not it's not going to have that momentum we want. So we want to see this bounce back up here on that bounce up. That's what we're looking to get in. So the way I'm playing it right now is just how it is right here. It tests it's tested this range and then now it's bouncing back up. So I want to get in currently pretty much where it's at right now at that 18800 range right. 18.8 K that's kind of the range I'm looking to enter and I do have an active trade right now. So my stop is probably going to be around the bottom of this range. So currently this is at 600. I'll probably put it more towards here that 700 range right. So that's where I'll have my stop loss. And if we break through that then I'm either waiting to for it to bounce back up into this range and then look for entry opportunity within this range again on the bounce up or I'm looking down here at these right. So I'll be interested in these to see if these holds here 18.5 and you know the low has been basically 18.1 here and then you of course have 18000. So that's kind of what we're going to be watching here this weekend. As you guys know over the weekends is there's not always a lot of volume a lot of volume but over the last few weeks we've had a lot of volumes on on Friday nights. Saturday and through Sunday. So so we're definitely taking trades and we're looking to make some profits here over the weekend. So the first trade that we're looking at here is this 18.8000 trade right. So we're looking to take entries here and write it up. The first target here is definitely 19000. So that gives you a $200 profit on your first target. So you can have either a $50 to $100 stop loss. We're using $100 stop loss. So as you can see you know we have a two to one risk reward on that first that first area where we're taking profits. That next area is probably going to be we'll be looking at the 19 one to 19 two range. So it just depends how how when it breaks through how it acts if it continues up really strong or if it starts struggling that we will take some profits before it goes back under 19 one. And if it does continue up so we take 19 two then that next range is going to be like that 19 four to 19 five range which is also this descending resistance here. So we'd be looking to basically take profits right around this range right. It'll be 19 four to 19 five will be looking to take profits within there. And then if we break through this then we're looking at 19 seven through 19 eight basically so we want to have the majority of profits by the time we get to this area of 19 eight. Because of the strong rejections here at 20 K right. So that's kind of how we're playing this position right now. Our other entry that we're looking at would be basically I would want to see a break of this right so it would probably be a break above this right here. So this is 19 thousand six thirty two. So it'll be 19 six thirty two will be a break above that. Now the thing with this that you do have a lot of resistance up here. So that's why I'm not playing that break too big. If I do set entries here they're going to be a lot a lot tighter and smaller positions with low leverage. And then I'll be looking to take profits every hundred dollars. So that means that my stop loss will be around fifty dollars. I'll be looking to take profits you know at 19 seven 19 eight etc. So so yeah and then my third and last entry here is going to be above 20 K. So that's the ultimate one if we get this breakout all the way to 20 and above 20 then I'll be selling all my positions. Once we break above 20 then I'll be re-entering with new fresh positions there because I expect a momentum to just continue taking that up. So that's how we're playing Bitcoin over this weekend. And for now you see this position that we entered in that eight that 18 eight area you see that that's kind of going up right now. So if you want once you guys watch this video if we're still in that range definitely look to take entries there. So let's go ahead and move on to the next one. Ethereum as you guys can see is Ethereum has a very very similar pattern basically the same pattern here. We have the impulse move up then we have rejection and consolidation here at the highs and we're just looking for a breakout. So the pattern you see this is a bull flag and it's the same basically the same pattern here. We're within this pennant going up and down just consolidating here on lower on lower volume. So we're looking kind of the same type of entry here. We're looking to enter around that between that 580 to 585 zone and it's currently at 581. So this is current currently an entry you see here that it went all the way down to 556 and a bounce back up. That's kind of what we're looking for for entries here. Our first take profit area here is going to probably be around that 590 range. So that means we have about a $5 stop or if you want that first take profit range to be 600 then you could have a $10 stop. So it just depends on your risk tolerance how much risk you're willing to take on this position. We're fine with taking that $10 risk and you know just holding till 600 and then that'll be our original position. Then our next target here will be 610 and then 620 and then above this 625 range. We're looking to take fresh positions or you could also do it above 620 but we've had some fake outs already. We've had two fake ups above that possibly three. So if you want the safest entry breakout entry here then above 625 that'll be a fresh high and that's something that you guys can enter. So then that's basically our two entries. You can also use the 600 as an entry but there's so much consolidation there. We're not taking that entry. We're not using 600 anymore. We're looking for a fresh breakout or looking to buy down here at this 580 zone. If we continue down then we have this 50 day moving average right here which is this yellow one. It's right at around that 560 range and then after that 550 is definitely another support and then 540 and then probably down to 520. So right now for the weekend we're looking at the 580. We'll be looking at the 600 and 620 trades basically. So we're watching these now. You can see right now they're happening right now as we go over these. So we just kind of got to kind of wait and see what happens. We definitely want to enter on those bounces though and you know go from there. So let's move that out the way. All right let's take a look at Bitcoin Cash. As you guys can see not much has really gone on after that drop. Once we had this drop here is just kind of consolidated here right and it hasn't really. It's been indecisive hasn't really chosen a direction to go in. So if we were looking to for a trade to enter here we're probably looking at this 580 at its 280 range. I'm sorry 280 range as a support entry here. But again we want to see it tested and we want to see a bounce. We don't want to just buy it as it falls down and then that next entry will be above 300 above this 300 range. It's going to be the next that next breakout entry and then above 320 is that next next breakout entry for Bitcoin Cash. So those are the plays out that we're looking at 280. And if it were to drop below 280 then 260 to 255 zone is that next support that you can play if it were to make that kind of a drop. But other than that this 280 and then above 300 is the entries that we're looking at and we're watching Bitcoin Cash. Like coin as you guys can see like coins pretty much replicating the same pattern as Bitcoin any theorem right now. As you see money has been flowing out of the market as a recent. So what we're watching right now is this $80 range right. So this $80 is a there is some resistance here. So we expect buyers to possibly come in here we're at 81 right now. So we would like to see a test of this and it's also where the 50 day moving averages. We would like to see a test of that 80 and that 50 day moving average if it up if it holds up and it bounces right back up. That's where we're looking to take entries. So that $80 mark is where we're looking to take entries with like coin and that next area is probably going to be above these highs right. So the high here was 94. So we probably take something above we'd be willing to take something above 90. You just have to be wary of these fake outs up here. So maybe a safer play will be like 92 or the safest place going to be probably above 94. So it's just up to you and depending dependent on your risk tolerance and how much risk you're willing to take. But yeah once once it breaks through there then that first target is 100 and I expect a lot of sellers to come in over here. So you have to be ready to to be selling I would be selling on the way up and then have new orders above that 100 range. So that's kind of what we're looking at for Litecoin XRP. As you guys can see we're kind of looking at the same thing here. We had this huge take off and then we've had a pullback and consolidation right. So here we had today we had a pretty big drop here. It dropped all the way down to almost it dropped to about that 55 cent range as currently where we're at right now. So I mean this 55 cent range is a possible entry. I haven't taken any entries here on it that next range that you could enter on is above 60. So if I see a bounce here and I see it heading back up and above 60 then it's possibly something I might consider entering. However right now if we look at this at the current you know bull flag pennant that we're watching here we are currently at the bottom of this range right. So this 55 cent range is not only the bottom of this range that we've been tracking here but it's also a pretty even number. So it it could be a good support here. So we like to see is kind of a drop how it's done here and bounce right back up and over it. That's an entry that you could definitely take here at 55. And then I'd be looking to take profit at 60 and above 60 you could be looking to take a fresh new entries if we continue above that. Then you have to be careful here on that 62 to 64 range because that's where this descending resistance currently is. So then after that you'd be looking at 70 cents a 70 cent breakout for an entry if it works to continue up. So those are the trade setups we're looking at for XRP Ripple right now. Next we got Chainlink Chainlink not much going on right now. It's dropping we've dropped below that $13 mark which was a support. So I'm expecting a drop probably to that $1250 to $12 range as you guys can see here $1250. Look at all the price action there and $12 price action there. So that's the range where I'd be looking to enter on a support entry and then for a breakout I'm looking for a bounce above this $13 right. So a bounce back above $13 that's a possible entry and then you're taking profits every 50 cents with Chainlink. So $1350 $12 I mean $1350 $14 $1450 $15. Alright so that's what we're looking at there with Chainlink Tezels not much going on. It is coming back to this $220 area where we've pointed out before. So $220 is where we look for a support entry here for a breakout probably above this high here this past high here. So above $255 is where we'd be looking for an entry there on a breakout. For Neo let's see Neo has it has been slowly grinding up so it has been posting what looks like lower highs and higher highs. So here we're currently at $1750 we'll probably be looking for an entry above these highs at this moment. There's really no other entry here that I like probably looking above $20 for that entry. So that's the only entry I'm looking at in Neo an entry above $20 for a breakout entry. If we do continue pulling back then maybe the $17 to $1650 area could be a possible entry there. But I don't think that we'll be entering that. Let's take a look here at Bitcoin Futures. As you guys remember we had this drop off last week when the market closed which kind of looks like what's happening today right with the market overall. It's not this crazy but we have kind of a sell off here a Friday sell off which we had the same type of Friday sell off on last week. And then you know we took off so that's why I'm saying that we could get some you know a push up but we have to keep in mind that we have this gap here. So remember we spoke about this gap and I said that Bitcoin likes filling these gaps when when they're you know in here. So remember on Monday I said that we might have to fill this gap in order to continue up. So it's definitely a possibility not saying that something that will happen but just something to keep in mind as we continue over the weekend. And that's pretty much it guys I think we covered the majority of the stuff we wanted to cover here today for this weekend. So that's kind of the trade setups that we're watching over the weekend and that we'll be looking to enter and some of them that we've entered already. So the last two weekends in a row the last two videos we've done on Fridays we've hit on 100% of our trade setups that we that we spoke about on Friday. They hit they've hit 100% on all of them for the past two weekends. We're going to make it three weeks in a row. I just told you guys all the entries that we're looking at here. Let's see how they work out and we'll do a recap on them on Monday. So that's pretty much it guys. We'll do a question of the day today. The question of the day is what are the entries for Bitcoin that we're looking at this weekend. And that's pretty much it guys make sure to hit that follow guys make sure to subscribe make sure to like this video. And hit that notification bell answer that question of the day put it in the comments and then make sure to hit that like so that once we get that 20 20 likes on this video. It will trigger that giveaway that we do which is one free month in our trade group which is a $70 value. So that's pretty much it guys. Thank you so much. I hope you guys have an amazing weekend and you make amazing profits. As always peace and love.