 What is going on ladies and gentlemen and welcome back to another Bitcoin daily video in today's video we're talking about a recap of what happened over the weekend we're gonna do an analysis on Bitcoin and come up with some trade setups for this week guys make sure that you like and subscribe guys hit that notification bell and drop a comment let us know if you've been in this bull run and if you guys are interested in using the exchange that we use we use by bit and in the description we have a link where you guys can sign up through that and you'll be able to get some rewards on your initial deposit up to around $100 or more so without further ado let's jump right in guys Alrighty ladies and gents my name is Jay and welcome back to another Bitcoin daily video before we start and we jump into the nitty gritty let's take a look at the recap from the trade setups that we from Friday's video So the first trade setup that we that we spoke about was that Bitcoin breakout entry which was at 23,300 and if you entered that that ran all the way up to 24,300 guys which was a new all time high which if you would have used 10X leverage you would have made about a 43% profit on that move insane guys the next entry which happened earlier today this morning was the support entry that we spoke about on Friday's video so that was we spoke about if we saw a pullback that we were going to buy at 22,300 that was the support entry we were looking at if you entered at that at the support entry this morning that ran up all the way to 23,300 for a plus 45% profit and the last one was the Ethereum breakout entry which ran from $655 to $670 which would have been around 11% profit guys so make sure to watch this full video so that you don't miss out on more profits guys we've been hitting all of these trade setups that we've been speaking about and you know mentioning in the videos every time we mention a trade setup is for a reason it's because it's a level that we're watching and it's a possible entry you know what I mean so if you've been taking those trade setups and making profits congratulations guys so let's jump right into this chart guys so this is the Bitcoin chart as you guys can see we had this massive not massive but we had this small pullback today I'm sure everybody's freaking out a little bit you know anytime they see red in the chart you know they get a little a little scared so let's talk about it right so what we're watching right here what we're looking at right here if you if we look at the longer term you know of this pattern you see that we're still in this channel right here right so we had bounced all the way up this was a big impulse move from last week and then we had this bull flag setup which we entered on that breakout boom we hit new all-time highs and then we kind of consolidated there a bit we had this rejection from the all-time highs back down here to the bottom to these lows from this bull flag right so these are previous lows from the previous range so right now what we're watching are these two ranges we're watching the bottom of this previous range right here which as you guys can see we had a bounce there and then we're watching the top of this range so this is basically the all-time high range this is currently where we're trading right so we're trading between these lows and these highs so that's what we're watching right now if we break below these lows though that next level we're looking at is around that 21,600 which is this Fibonacci level I was going to say Fibonacci level right here right and then that next level is the 23.6% Fibonacci level which is 20,800 around there right 20,600 to 800 range so that's currently what we're watching that's what's on our radar right now now one thing to note here guys we have we've had a bearish divergence right so you can see that the price has been going up up and up we've been setting up higher highs but the RSI over here momentum indicator has been going down right so we've spoken about this several times on several videos and we made a tutorial on how to spot divergences and how to trade divergences so hopefully you guys have paid attention and know exactly what this means so whenever there's a divergence on the chart it means that the price and the momentum are not in agreement so usually that means one a pullback to consolidation right because they have to get back in agreement as you guys can see here we have that high which is this high but then look at this look at this low when there's another high right so it's not making sense it's not cooperating it's not in agreement so whenever there's anything like that that means that there has to be something has to change within the price action so that it gets back in agreement so that that's a possibility as to why we saw this big drop here because of this right here right so that's that's one of the possibilities as to why that happens and another thing obviously we're at all time highs so there's going to be sellers up here right so right now what we're what we're watching is either a breakout back to that upside that's obviously a trade that we're that we're looking at a breakout to that upside and a breakout to that upside then we're looking at basically 25k right then we're watching this level right here which you probably can't see because my face is in the way but that level right there right so that 25k level is that next level that we're going to be watching if we were to break out of here right so but right now for the moment this is this is what I'm seeing right we have the bearish divergence so we need probably some sort of pullback which is already happening we have this pullback right here and then we need the RSI and the price action to get back in agreement so we could possibly see a bounce at these levels here right so we saw a bounce right here we could see another bounce if we if we go test these levels again that 22,300 level is a very important level if we break past that level then we can possibly come down lower to 22,000 which is right there or to this Fibonacci this first Fibonacci retracement level which is around 21,600 so if we were to break under 22,300 that's kind of that 22k is going to be that first test and then 21,600 that second if that doesn't hold we can continue lower to this retracement zone which is around 20,800 and then that final one which is around 20,000 that would be the biggest support that we have and I'm hoping we don't fall below that because we fall below that then we could be going you know as far as this right here that 61.8% which is around 19,000 right and then we have that 78 which is around 18 and just basically a full retracement down here from takeoff which is around 17 so that's currently what we're watching right now in Bitcoin now so for trade setups that we're looking for it's going to be back here at this 22,300 range so same setup from from Friday's video what we want to see is the same thing that happened here right we want to see the price go down and then bounce back up so we want to buy on the bounce we don't want to buy on the fall right because if you buy when it's falling and then it just keeps falling you're going to stop right out or if you don't use a stop you're going to have a big loss but if you wait for it to fall and then buy as it bounces back now you have it's a higher probability trade so that's the first trade that we're looking at we're looking for this right here the second trade that we're looking at we're probably going to be watching for a breakout above that 23,000 zone if we get if we like the same way we saw right here if we see it go back above 23k then we're looking at a breakout entry there to try to see if we can write it back to the top of this range which is around right here which is back to the all time highs right so you see how we've been in this range bounce we got rejected came down went back up got rejected again now we came down again now we're looking you know for this bounce back up and that could possibly retest the all time highs one more time or break the all time high and go directly to that 25 range right so that's what we're watching right now in Bitcoin those are the setups we're watching and of course beyond 23k then we're looking at a breakout above that all time high and 24k it's a big nice big whole number but there's a lot of consolidation there that's pretty much it guys we're only today we're only covering Bitcoin because it took so long to cover it and because of course Bitcoin is a king of all coins right so whatever Bitcoin does everything else is going to follow but I will tell you that for Ethereum the main level that you should be watching is 620 that is the main level you should be watching there as you guys can see we fell below it and you see I have it highlighted because that's the main level I'm looking at and we're currently getting rejected by it but that's the level that we're looking at for any type of entries there any theorem if we drop back down 600 will be that next entry level and then it will be this right here which is around that 580 range as you guys can see a lot of consolidation there that's it for today guys thank you so much for watching this video we got over 500 views and 31 likes guys make sure to continue to smash that like button guys make sure to continue to subscribe to the channel we're up over 2300 subscribers now guys our goal our next goal is 5000 subscribers guys so let's continue this let's keep it up man I appreciate everybody it's been one hell of a year alright guys thank you so much I will see you in tomorrow's video as always peace and love I'm out