 Welcome to October ladies and gentlemen where the candles are green the bears aren't ever seen and the profits are of what we dream. In today's video we will say our farewells to September and our hello to October so let's not waste any more time and dive right into today's analysis. 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 the community with the knowledge and resources to get you guys up to that next level. So if you guys are new here don't forget to subscribe, turn on notifications and like the video. So it is only right to start off the month with of course the monthly chart. This is what we do every month when we end a month and start a new month. We look back at what happened and what's to come. So you can see here the September candle ended up being red after two months of green candles. Of course before that we had the three months of red candles starting in April all the way down to June. So you guys can see here that September we opened up at $47,120 and we ended up closing the month at $43,829. So that was a drop overall of about 7% in September for Bitcoin. If we look at the overall total market cap here you see the same exact thing here. You see that we were down about 7% on the month of September but do not worry guys because in October we are already up 8.5% in total market cap. In Bitcoin we're already up over 9% today in Bitcoin. We opened up the month at $43,825 and we're currently sitting at around $48,000 guys. So remember in August we made a video talking about how September could be a down month. Remember we can never predict these things we just take historical data and then you know give it to you guys and try to come up with probabilities for the future right. So in August we told you guys September could be a down month. What happened it was a down month. Now during September we told you guys in October it is very high probability that it is a up month. Now we don't know today's only the first day so we can't say that it's going that it is a up month yet but so far it is a great start as we're up over 9% on the day on the first of October. If we look at the levels here you can see that after this we hit the top over here at that $65,000 we dropped all the way to this Fibonacci level here which held that's right around that $28,000 range. You can see how that held for three months straight. So we were testing that for three months before heading back up and then you can see that the level that we're at right now that we've been getting rejected by is right here and that is that $50,000 area. You can see that we've had a test of $50,000 we got rejected back down to the bottom of this range. Remember we always trade in ranges right now our range is between $42,000 to $50,000. So this is the range and that's exactly where we've been for the last three months. So although we had a test below $42,000 for the month of September we ended up overall closing above it which is of course bullish and it's all bullish for me. I believe now in October, up October we could and should be seeing a retest of $50,000 and beyond. If we look at the monthly candlesticks here you can see that we've been setting up higher highs and higher lows right higher high higher low higher high higher low. So you can see that since June we've had higher highs and higher lows. So we expect that trend to continue if this would let me draw a straight line which unfortunately it doesn't it makes me draw this ridiculous looking line. We would be expecting Bitcoin to at least go up to around $55,000 this month. So as you guys look at this squiggly channel you can see that the highs have been at the top of this range every time and the lows have been at the bottom. So if we continue to look there then we can say that the low for this month will be currently where we are or at least above this low right here which it was around that $40,000 range and the high could be around that $55,000 range and that could go up to you know potentially beyond that you know around 56 57 and if we get lucky $60,000. If we look back here at our historical data of September October November and December you can see that September has been historically the most bearish month for Bitcoin since it was since it's been tracked right and October and November has historically been the most bullish months in Bitcoin. So when you put this data together along with this data together showing that we're getting higher highs and that we're in a ascending channel to the upside it all points to the same story that we should be seeing prices go up higher this month and for the rest of the fourth quarter into December. Now how high can we go? That we can't say there's no way to ever actually know that or and be able to predict that we can just kind of look at you know what's happened before and what could happen in the future. You can see here last October we went up 28% last November we went up 42% and last December we went up 47%. So not saying that that's going to happen again because those were really really big rises in Bitcoin from a much smaller amount of value but if we were to move that you can see that in those three months Bitcoin went up over 170% last year. If we grab this and move it at its current price and say that Bitcoin would do the same thing that it did last year as far as movement. Now you'll see that now it's not 170%. Now it would be around 42% of a move because of the price difference. So that would kind of put us right back at our previous all-time highs right here at that 62 to $65,000 range and I really believe that if we get back to the previous all-time highs that we're probably going to break it. So you know although this is showing a 42% move I think that we can definitely see a move beyond 42% into at least a 70 to 80 thousand dollar range. If we get some big catalyst type of news where there's another big company that's adding Bitcoin to its balance sheets, Tesla picking Bitcoin back up, things like that then I definitely could see Bitcoin hitting $100,000 by the end of this year. It is not out of reach. It is still a long shot but it is not out of reach. If we take a look here at Ethereum you can see that it's pretty much the same chart. Ethereum for the most part follows Bitcoin. So that's something that we have to always kind of keep in mind. Ethereum for the most part follows Bitcoin and then every now and then it deviates away from it and either moves up really big or moves lower but usually it's when it deviates away from Bitcoin is because it's moving up a little bit more while Bitcoin kind of stands still. Now you can see that Ethereum on the month of September was down about 12 and a half percent. Like I always tell you guys Ethereum's movement is always going to exaggerate whatever Bitcoin's movement is. So Bitcoin was down about six and a half seven percent last month. Ethereum is down 12 and a half percent and if you notice right now Ethereum and Bitcoin are both around the same as far as movement on today. So that means that Ethereum is actually lagging a little bit behind although it's up about 10 percent today. It's actually lagging a bit behind because it should be up more in the range of 12 to 15 percent usually when there's a big move. Now because what I think is because the move is so big in Bitcoin today some of that Bitcoin domination some of that Bitcoin dominance is going back into Bitcoin and Bitcoin dominance has gone up today of about a half percentage. So some of that money is flowing out of Ethereum and into Bitcoin which is why Ethereum's move although it's up a little bit more than Bitcoin itself. It's about half a percent only on Bitcoin versus usually it exaggerated at a much more rapid pace. So expect Ethereum to definitely catch up in that aspect. I think maybe when we get back to around thirty five hundred we could pop up beyond thirty five hundred rather quickly and maybe retest this level up here which was at forty four thousand dollar range and and we could hit we could definitely hit a theorems all time high before we hit Bitcoin's previous all time high. So I fully expect if we break above fifty thousand dollars in Bitcoin I fully expect for a theorem to be breaking at that same point probably be breaking about five thousand dollars. All right. So next let's go ahead and look at some trade setups that we will be watching over the weekend to make some profits. Now that we're in October we're expecting prices to go up. What trades are we going to be taking to make profits over the next couple days. Let's dive in and take a look before we do that. Make sure that if you guys are new to the channel to subscribe and turn on those notifications and like this video if you've made it this far. It only takes a second to do so go ahead and smash that like button right now. All right. So as you guys can see here this is the chart that we looked at on Monday's video where we showed you guys the head and shoulders and we had this descending resistance line which we were having we had lower highs and lower low and we finally today validated that lower highs lower lows and we broke over we broke out of this resistance line which is why we got such a good breakout here where we also liquidated a lot of short positions which is why the breakout in the move happened so rapidly. So remember the trade that we gave you guys on Monday's video was forty two thousand dollars guys if you guys entered at forty two thousand on that break back above it and wrote it to where we currently are right now that's a fourteen percent move guys and if you use ten X leverage like we do that's a hundred and forty percent profit on that trade. I hope you guys took that trade. Today's trade where we are looking for forty eight thousand as the first entry here. Now you can see that we're basically at forty eight thousand and while we're recording this is probably going to break above forty eight thousand as we're watching it right now we just hit forty eight thousand. So I imagine that we could be consolidating in this range a little bit though. So you have to be careful we don't want to risk too much here not yet. You can see over here we had a lot of consolidation in that range. You can see over here we also had a lot of consolidation in that range and over here yet again. So we're only risking a little bit here but that is that first breakout that we're looking to take here at forty eight thousand. You know we're going to keep the the stop losses probably probably pretty close. We don't want to we don't want to take big losses on this. So we're risking one percent. Our stop losses are only a few hundred dollars below probably. And then the next entry here that we're looking for and our target from the forty eight thousand dollar entry is of course fifty thousand and our next entry is going to be above fifty thousand dollars. So we see prices go up. We are entering there as we go above it right now you guys can see we're sitting at forty eight thousand. This is the perfect entry here. So this is a perfect time to enter. We've already signaled it in our trade room. So if you guys are in our trade room you already have this trade setup. If you guys are interested in the trade room you can go below. Look at the description. There is a link there that you can click and it will take you to the sign up for our discord group. Now if prices were to come back down because we had a very big move there is the potential that we come back and retest the bottom over here of this resistance line and turn it into support. That next bounce back entry would be above forty five thousand dollars. So if you saw anything like this when it bounced back up we are entering forty five thousand dollars. In a theorem you see the same thing. We basically had the same head and shoulders set up. We had the descending resistance. We got the breakout. We had the lower highs lower lows. We inner validated that pattern. So now we're waiting to try to get back up here to invalidate this head and shoulders pattern. Now the trade setup that we gave you guys on Monday's video was an entry above three thousand dollars. If you guys took that entry that's up about 10 percent. That's a if you use 10x leverage like we do that's a hundred percent profit on that trade guys. Congrats to those of you who took it and anyone who took this one the bounce back entry at twenty eight hundred dollars. That went up seventeen percent from the twenty eight hundred dollar mark about seventeen and a half percent with 10x leverage. That's a hundred and seventy five percent profits on that trade. If you took that guys congrats as well. So let's jump into the trade setups that we will be taking today. Dips provide opportunity guys when there's dips instead of being scared you should be setting up these trades to make profits on the way back up. So the first entry that we're watching is of course thirty two hundred. We would like to see not that we would like to see the prices go down. But if the prices were to pull back when we get a bounce back over thirty two hundred that's when we would be looking for entries there. The very next entry is going to be here above this Fibonacci level. You can see that last time we broke above there which was that thirty five hundred area. We had this big eleven percent candle on the daily. So we will be looking for something like that again this weekend a break above thirty five hundred. We are entering trades there. And of course if we were to fall back down to the three thousand level we are looking for bounce back entries at that level yet again. So that's pretty much it for us guys. We've covered everything we wanted to touch on. Hopefully you guys enjoyed this video. If you did don't forget to smash the like button. If you're new to the channel don't forget to subscribe. Turn on the notification. It helps us a ton and it helps you guys make some profits too on videos like this one. So I hope you guys have a great weekend. We will see you guys on Monday. As always peace and love.