 So COVID has struck yet again. And of course, this resulted in a market meltdown at the wee hours of the morning. Bitcoin dropped to a new low of $53,500. And as we draw closer to what was supposed to be Moon November, remember, currently on the month were down over 11%. This just goes to show guys, no matter how good you're at analyzing charts and data and whatever else. There's zero way for one ever predict the market and for two to ever be able to predict any type of news event that could affect the market like we saw today. This is exactly why it's so, so important to mitigate your risk by practicing proper risk management. So today we're going to jump into the charts. We're going to take a look at what we could possibly expect as we go into the final few days of the month and as we prepare for the final month of 2021. So let's go ahead 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 take your wealth up to that next level. So if you guys are new to the channel, please subscribe, turn on notifications. If you guys enjoy this video, smash the like button. Let's try to get this video to 100 likes. And finally, if you have any questions or concern, drop it in the comments. So let's take a look at the charts. So let's start here with the monthly candles. As you guys can see, this is the bigger picture here on where we currently stand with Bitcoin right now. You can see that we've had the run up then back in April, we topped out. We dropped down to a low of 28,000 before starting our new run back to the upside currently at a all time high of around 69,000. And of course, currently this month we are down just over 11%. But there's still some time left in the month. We could still move back up. If we want to get to around break even, the break even price will be around 61,300. If we want to get in the green, we got to get above that price. Now it is possible and it probably would have happened 100% if we didn't get this news today. Yesterday we're back at 59,000 and teasing to get over 60k once again. Unfortunately overnight, we got this the news of the new COVID variant. And of course it sent us down to a new low for the month of 53,500. So now I do think depending and barring any other bad news that we bounce here. I don't see why we would continue going down. Of course, barring any other bad news. We can't control COVID type of news and events. But you can see here if you look all the way back to April that we're currently sitting at a support level. This is a strong support level here at this 53 to $52,000 range. Now this needs to hold. This is the important thing here. We spoke about this. I believe we spoke about this on Monday's video. This area here needs to hold if we drop below this area, if we lose that Fibonacci support there as well. Then we can start looking at lower levels. We can retest levels like 48,000 and possibly as low as $44,000 and $42,000. So it starts to get a little bit worrisome if we were to lose that level. But for now, we're still bullish. Remember, we spoke about a drop down to $52,000 to $53,000. It just it didn't happen. So we and we thought since we got the bounce back up yesterday, we're like, all right, like it's probably not going to happen at this point. I think we've already swept the lows and we might be moving forward now. But because of the news yesterday, we had to set new lows for this month and sweep the lows yet again, you know, put fear in people's hearts. And, you know, hopefully now we get that move back to the upside. If we look at the weekly chart here, you could kind of see the same thing. It zooms in in a little bit more for you, but you see the support we have here. And then you can also see what happens if we lose that support that that's a possibility of what could potentially happen if we were to lose the support, not saying that we're going to drop all the way down here to to these lows. But we can definitely if we lost the support, we could at least see maybe a candle like this. And this is a 20% drop or more of this candle right here to lower levels back down at the 48,000, 44, 45,000 area, you know, we might drop back down to these levels at 42,000. So we need to avoid that. And the way that we avoid it is, of course, by this support here holding up. So as long as that holds up, we're fine. We're good with this position. I think we were still bullish. We can still continue up higher and set up that new higher leg like we've been speaking about. But if that were to break down, then we'd have to reevaluate at that point and maybe start planning for either early crypto winter in a way that's never ever happened before or an extended bull run into next year, where we see a new top at some point next year. So those are pretty much the two scenarios from the two different perspectives right now that we're looking at. Again, this has never happened where we've gone into a bear market, you know, in November and December, there's always been a one more push up, one more blow off the top type of thing after Thanksgiving. So it would be the first time ever in the history of Bitcoin if we were to go into a bear market right now, which is why it leads me to believe that we're not going into a bear market yet. We still got that at least one more push to the upside. We just have to be patient here. So zooming into the daily chart here, you can see that we are at the bottom of support and we bounce basically perfectly on that bottom of it, right? And not only that, but there's some confluence right here. Look at this touch here. Look at this touch here and this touch here. This is an ascending support that started back in mid-July and anytime we've touched this since then, we've bounced back up. Last time that we actually touched this support, we had, we started, we began our new leg up to the new all-time high. And the time before that when we started this support here is actually when we had that move up. So can this mean now that we're about to get that new move up now coming in December like we've been talking about trying to predict? Hopefully so. This is why we keep saying this, even though there's panic in the market right now and even though we're down 11% on a month, we're down basically 8% today. It's not all bad news. There's still hope. There's still reason. There's still a lot of confluence that's pointing us to the upside. I think today was just one of those news-driven events that we just can't control. So I think that we've today was the worst of it as far as the news because from here on out, I'm expecting to possibly get news saying that there's vaccines that are already boosters or whatever it is that they're doing that works against this new variant as there has been for the Beta and for the Delta. So that's obviously the bullish side of it. The bearish side of it is if everyone starts going into lockdown and they can't figure out a vaccine and COVID rates spike and there's more deaths. And so obviously, you can make cases for both sides. You just have to be aware of both scenarios and plan for both scenarios. So for me, the plan is as long as we're holding above this level here, I am still following that same plan that I was telling you guys. I still expect that move up in December. Now, if we drop below 53, then we have to reevaluate. We have to make sure to stay out of trades and try to figure out what's going on. What's the next move and plan for that at that point. But that's so far how I'm watching this and what I'm looking at here in the charts. All right. So the last thing I want to share with you guys is this chart right here. As you guys can see here in this chart, even though it might be a little small, is that the past tops and bottoms have been within 48 days of Thanksgiving. So the Thanksgiving holiday appears to be close to major bull market peaks and bear market bottoms. So if you look here, that was the bottom and that was very close to Thanksgiving. You can see that we had a top here at Thanksgiving, another bottom within the Thanksgiving day, another top within Thanksgiving, another bottom within a few days within Thanksgiving. So each of these orange lines here represents Thanksgiving day. And you can see how close it's been with each top and bottom during each bull and bear cycle. So what is going to happen this time around is, of course, the question. The crazy thing is that five out of five major Bitcoin tops and bottoms have appeared within the 48 days of Thanksgiving. Four out of five of these same tops and bottoms have occurred within 24 days of Thanksgiving. Finally, two out of the five tops and bottoms appear to coincide within the holiday itself. In 2017, which was our previous bull cycle, 24 days following Thanksgiving that year, Bitcoin rallied 150% from $8,000 to $20,000 putting in the bull market peak. The following Thanksgiving in 2018, Thanksgiving was within just 24 days to the bear market bottom. So taking that data and saying, okay, what if this time it happens more or less around the same time and we see the bull market's peak 24 days after Thanksgiving, that would give us a date of December 19th. And that's actually really close to the date that I've been talking about, which was December 17th. And of course, if we had 150% rally, then that would put our price at around $144,000 per Bitcoin by December 19th. The only thing I can say about that, guys, is that I've seen it happen with my own eyes, a rally of that magnitude and that fast. And it's definitely a possibility, even though right now at this point, it might seem like it's impossible. So some trade setups here that we will be watching for is going to be probably the first one, I must say, above $55,000. Again, this is all going to be very risky due to it being a holiday. So there should be less volume than normal. Obviously today was a news event driven activity. So that's not gonna happen. I don't think again over the weekend, right now there's some fear and uncertainty in the market as well. So all this stuff makes it very risky to be in trades at this moment. So if you want to be in trades, if you are looking, if you don't mind taking that risk, I still say only risk about 1% or less in each of your trades. So above $55,000 would be my first area of entry, trying to catch and ride the bounce back up. And I'll be trying to ride that up to $60,000. If you guys want to be played safer, then you should probably be looking to enter above these prices up here. So that would pretty much make it either above 60, or if you want to play it even safer, you could buy just above all these. That's around $61,000. And of course, if we get above 61, that'll put us in the green for the month. I would love, love to see that happen in the next few days as we move into December because that'll give us some bullish momentum for December. And I think that would set us up for that rally to new all-time highs. That's it for today's video, guys. I hope you guys have had a wonderful week. If you guys celebrate Thanksgiving and happy Thanksgiving to you and your family, I am so grateful for every single one of you guys. We're now over 12,000 subscribers, and I just wanted to take this time out to say thank you to you guys. I wouldn't be doing this, and I wouldn't be able to do this without you guys, without your support, without you guys engaging with my videos and liking it and watching it, of course. So thank you guys so much. I am truly, truly grateful for every single one of you. If you guys enjoyed this video, make sure to smash the like button on it. We're trying to get over 100 likes on this video. If you guys are new to the channel, don't forget, of course, to subscribe, turn on the notifications, and if you have any questions about anything, as always, drop it in the comments. Have a great weekend, guys. I will see you guys on the next one. As always, peace and love.