 It feels like just yesterday, everyone was panicking and Bitcoin's price was approaching $40,000, threatening to fall below it to lower levels. Uptober is officially underway and Bitcoin is already up about 12 to 13% on the month. So now the question becomes, are you guys ready for Bitcoin's next leg up? Let's dive 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 guys, the community with the knowledge and resources to take your wealth up to that next level. So if you guys are new here, don't forget to subscribe to the channel and turn on the notifications. Also, if you guys enjoyed this video, make sure to smash the like button. So let's dive into today's video. So on Friday's video, we gave you guys a few trade setups that we're going to review here that triggered. So the first trade setup that triggered was that $48,000 entry. So you can see that it actually triggered multiple times and it hit a high of around 3.1% using 10x leverage like we always do. That's a 31% profit on the biggest move that was made. And there was much smaller moves that you could have made profits on as well. If you guys are looking for a spot to trade with leverage, you can check out Bybit, which is the exchange that we use. We have our referral link in the description below if you want to support the channel and try out their services. So looking at the chart here, you can see that after Friday's move, we pretty much just kind of consolidated over Saturday and Sunday. There wasn't too much movement. Now yesterday, we did get a little bit more volume and volatility coming into the market like we usually do on Sundays. So you can see that we hit a high of $49,300 and a low of $47,156. Now today, volume of course picked up even more and we hit a high of $49,516 with a low of $46,939. So a pretty wide range for the day here. So we are still overall up on the day over 1% and you can see the pattern that's starting to form here. This is that very well known and loved bull flag pattern here. Now the other pattern that we're still seeing here is of course this head and shoulders pattern. We can take off this previous resistance line that we had here because we've have already broken out of it and we can see here the clear head and shoulders pattern. Now, of course, last time that we had this head and shoulders pattern, as you guys can see, this was a result, a huge drop. However, you can already see a difference in what's going on here. You can see that after the head and shoulders pattern, we had the straight drop there. And then if you look at the current head and shoulders pattern that we're watching, you will see that it started to drop, but we bounce right back up and we're trying to invalidate the pattern at this point. So your next question is, okay, so how do we invalidate the head and shoulders pattern? Now in order to invalidate this pattern, we have to break above the head. So the high of the head currently sits around $53,000. So that's the level that we will need to break in order to invalidate the head and shoulders pattern. Remember that the neck line is sitting here around that $44,000 zone and pretty much what's been holding us up is this $42,000 support level here. As you guys can see, it's been a very strong support, very strong resistance. It was also a previous all-time high. You can see here we got rejected there again, been rejected here, we've had it as support here. So this level has played a role many times in Bitcoin and it continues to play a role here as it held up that drop. And we've got it, we've received now a bounce from there. And now we're almost all the way back to $50,000. So of course, $50,000 is a very strong level here. So we've been rejected, you can see here and you can see here, which is how this head and shoulders pattern formed. And now we're once again at that $50,000 mark. So $50,000, it is also a resistance due to the Fibonacci level. You guys can see here, if we zoom out, we have a Fibonacci level here, the .236 level there. If you guys want to know more on how the Fibonacci levels work, you can go to the channel, click on playlist, scroll down to trading tutorials, and then scroll down to this one right here, how to trade using Fibonacci retracement, step-by-step beginner's guide. So if we pull up the moving averages, you guys can see that the Golden Cross is in play here, very bullish. And you can see that we broke on Friday above both moving averages. So very bullish stuff. So that means that we can now use these moving averages as support levels as well. So this moving average here is currently sitting around that $46, $47,000 zone. The next one is right at the $45,000 area. So those both will play roles as support at this point if we have any type of pullbacks here in the next few days or so. Next, if we pull up the volume shelves, you guys can see that in this area, there's a lot of transactions going on, both buying and selling. So we need to get above this and getting above it basically means around $50,000. Once we cross $50,000, you guys can see the drop off here and volume shelf. And there's really nothing more until this level here. So this is going to be the next resistance level. Once we get above 50, that should hold us. So we should kind of just grind straight through this level right here. So that would be all the way up to around $54,000 is where we can see some resistance coming in as far as these. And that builds up all the way back up to around $58,000. And once we get above that, then of course we have the $60,000 resistance, which has rejected us multiple times. And then it's basically all time highs from there. So we're a lot closer than you think at this point from getting back to our previous all time highs. So everyone's asking, do I think that Bitcoin can get back to its all time highs? Of course, I believe that it can get back to its all time highs and beyond, especially now during October, November and December, which is historically the most bullish month for Bitcoin and the entire cryptocurrency space. So I'm very bullish on it, especially now in October, November, December, usually it starts fizzling out a little bit, but there's usually still a push in December before Christmas. So seeing how this month is already starting is a great sign. And I think that we can definitely set new all time highs by the end of this year. I'm not saying that we're going to hit $100,000, but I do believe that we're going to get all time highs. Now, this is not guaranteed. Everything can change, things change at all times. So for now, I definitely believe so. I'm very bullish, unfortunately, I can't predict the future, so I can't tell you for certain. But what I can do is look back at history and try to make probabilities, try to try to make the best guesses possible on different scenarios that could happen. And history tells us that we will be bullish for the next couple of months. So strap in, get ready, new all time highs, hopefully coming soon. In a theorem, we didn't have any of our trade setups trigger over the weekend. As you guys can see, we're now reaching the top of that range where we spoke about. So we almost triggered. You can see that we went to a high of 34.91 yesterday. What we're waiting on is that break above 3500. That is our entry. That is our signal to enter a new trade on that breakout. Now there could be fake outs as you've seen over here, but that's what we're looking for at this point, or potentially some sort of pullback. So you guys already know as far as an analysis on this, it's following Bitcoin. So just follow Bitcoin's analysis and Ethereum will be following. Next, we're going to jump into the trade setups that we're going to be watching this week. If you guys are enjoying this video, make sure to subscribe to the channel. If you haven't done so yet, we finally reached 11,000 subscribers. Thank you guys so much. We really, really appreciate it. Also, don't forget to like the video. It helps us a ton with the YouTube analytics. It helps us get recommended to new viewers who haven't seen our videos before. So we can continue to spread the awareness and education of cryptocurrency. So let's jump into this week's trade setup. So we just spoke on Ethereum and told you guys that that break that we're looking for is above 3500. That is still true that the support entry is of course at 3200. So those are the two entries that we're looking for this week. In Bitcoin, we're currently sitting at 49,000. So that first support entry is back down at 48,000 and that breakout entry that we are watching for now, we will be watching like a hawk this week is of course a break above $50,000. On all of these, you could pretty much risk around 1-2% until we get a clear break above this previous high, which invalidates the head and shoulders pattern. I don't want to be risking more than 2% at this point. So 1-2% is what we will be risking on these trades. Alright guys, thank you so much for watching this video. Make sure that you guys are subscribed to the channel. Thank you again for 11K. We appreciate you and make sure to smash the like button on this video. If you have any questions about anything that we just covered, drop it in the comments. We love seeing you guys, your suggestions and your anything that you have to say really. We will see you guys on the next one. As always, peace and love. Let's make some profits.