 What is going on ladies and gentlemen welcome back to Bitcoin daily for another video today is Friday October 30th. Happy Halloween to everybody We're gonna do today a market analysis on a basically a recap of the week what happened over the week what we're looking at over the weekend and What we might expect next week. We're gonna look at the Since this weekend is the closing of this month's candle. We're gonna look at that and You know, let's see. Let's see what we got going on. Let's see what's been going on with the with the price Before we do any of that though, as you guys know, please hit that subscription button hit that subscribe Smash it punch a hole in it. We're trying to get to two thousand followers by the end of this year We're about at about 1850 currently. I believe We're so close guys Also, make sure that you're answering that question of the day and dropping it in the comments and hitting that like if we get to 30 likes we're giving away a free membership to our trading room for one month Anything else anything else? Oh, yeah, last thing there's a second time we record this video because the first one I have my screen. I have my face covering the entire screen just like this and then I completely forgot so I Drank a bunch of coffee and now I'm gonna do it again. So let's get right in guys First things first. Let me make sure my face is not in the way. There we go. You see how I'm not in the way Perfect. I already completed my first task of the video second task Let's take a look at what's been going on here today as you guys can see Bitcoin has been trading pretty much flat Is that down? 0.34% on the day, but it's been kind of bouncing around a little bit Ethereum down 2.2% today down to the 382 level. It is a actually one of the supports We've spoken about on Monday's a video XRP is down to 23 cents almost 3% Bitcoin cash down 3.2% chain link down 2.8% Binance down 5.6% like when down 3% so a lot of red in the market today, right? basically Almost everything dread in the market And you see the market cap overall down 0.85% today So it's been a slow day, you know Fridays are usual usually sell-offs Because people don't want to hold over the weekend or you know, who knows what happens, right? So As you know, you know when the weekends come there's a lower volume. So that's another reason why people sell on Fridays But let's go ahead and take a look at what's going on here as we're closing this month's candle If we look at the candle for this month, it means zoom in a bit here so that you don't see all the other nonsense So if we look at that, we will see that This month in October we opened up at 10778 dollars, right? The high that we hit this month is 13,854 dollars the low that we hit was 10,374 dollars and now we're currently trading at $13,549 which is if you would have opened if you would have bought one full Bitcoin on October 1st, right? You would have bought it at 10778 dollars and right now you would be up 25% or 2,770 dollars That's what you would be up if you bought on October 1st. So not bad for a month, right? It is one of the best months. We've had recently As you guys can see last month. We were actually down 7% The month before that which is August. We were up 2% And in the month that we had that was really good prior to this one was July where we went up 24% So we're up 25% this month. We're definitely blowing July out of the water here Another thing to note if we do end up closing here if there's nothing crazy that happens, right? This is the highest closing since look at this since December 2017 This is when to December 2017 is when Bitcoin hit $20,000, right? This is the highest we've closed since then look at this look at all the candles We can't even see most of these candles So this is our highest closing as long as Bitcoin as long as we stay in this range Which I believe we will over the weekend. We'll over the what next 24 hours We will have the second highest closing And we're on track to have the highest closing if we can get above that 14,000 level next month so Do you got what do you guys think do you guys think that we're gonna hit 20k this year? What do you guys think we have what two months left? Question of the day do you guys think we're gonna hit 20k this year? I want to hear your answers I want to hear your thoughts. I want to hear your reasoning on why That is a question of the day for today now. Let's zoom in and See You know, what's been going on here on the weekly so if you look at the weekly we've had four weeks in a row of Just beautiful green candles, right? Let's zoom into the daily and if you look at this daily chart What do you guys notice? What is this here? What is this pattern right here called? We speak about this literally like we've been speaking about this pattern like every week at least once a week, right? So this right here is a bull flag pattern. So what is a bull flag pattern? It is when there is an impulse move Then there's a consolidation period and Then there's a continuation. So because it's up, right? The move went up. So the big move was up then cost the consolidation now we're in the consolidation period and then The probability for this pattern is a continuation in the direction in its initial direction So because the direction was up After this consolidation period the expected move is up, right? You guys can see the same pattern here. We moved up. We consolidated. We continued up. So The probability and the edge Whenever this pattern pops up is to be bullish on it, which is why it's called a bull flag if this was turned upside down and it was the opposite of this then it would be considered a bear flag and The prop the higher the higher probability trade would be to the downside So then you'd be playing the shorts right to try to make money on the price going down So because of the long-term trend, which is up the pattern, which is up Which where we're going? We're trading up, right? We don't want to trade against a trend You know, you never want to counter trade the trend that is just a losing game So yeah, so let's Make it easier for ourselves and let's play where the trend is going the trend is your friend till the end Right. That is a saying for a reason and it rhymes for a reason, right? so let's jump into The nitty-gritty here. Let's zoom in a bit and let's really look at what's been going on here. So we pointed out this Divergence here, right where we had a lower high higher high and the price action But the momentum indicator or the RSI Showed us that a higher high to lower high in this same time period so because there was a disagreement between the price action and the momentum We knew that something had to change there was something off with the price Because they were not they should be correlated at all times, right when they're not correlated when they're in Disagreement and going in opposite directions There's usually a change coming Something has to happen usually either a consolidation period a pullback a Retracement, you know, like something is gonna happen. So because this was a bearish Divergence meaning that this was going down while price action was going up That means bearish divergence That means that it is likely for a pullback or retracement likely for the price to correct and go down So that's exactly what we saw here remember we spoke about this bearish divergence last week and we spoke about this on Monday and Just like we spoke about it. There was a pullback here, right? and you see this ascending Support right here and notice how the price has been touching the support and respecting it, right? So it's stayed within the support only one time did it really close under it and it bounced right back above it So that could that's an interesting play For you guys to try to buy at this support. Let me make it a little bit longer here So it looks like the this support is currently around that 13 300 level right right just under 13 300 So depending, you know, where if we test it again It is an interesting area Where you can buy right? So that is a support that we're looking at Ideally the way we would want to trade it is if it goes under like it did here And then when it starts going back up that we see a break above it That's ideally what we want to buy we don't want to really buy when it's breaking down like this Because we don't know how low it's gonna go it could stop like this right here or it can go as far as it as this one went down here, right? So because of that we we don't necessarily want to buy it on the drop we want to buy it on the bounce so Look make sure to draw the same support on your charts and look at it when it's dropping and When when you see it popping back up above that support That's where I would trigger a buy and enter a trade So that's one trade setup right there My next trade setup that I have that I'm looking at is this buy zone right here. So let me stretch this out a bit So this is the 13,000 level right? This is where we spoke about that I Want to buy this is where I'm looking for a retracement by this is where we hit one of our buys right here So one of our trades did hit here as you guys can see we're able to buy here. We stopped out Then when it bounced back up, we're able to jump back in We took some profits at 13,200 then when it dropped back or it dropped right back down to our buy area We bought again, and we wrote it up taking profits along the way of course because what do we do guys? We always take profits Now Right now what we're doing we're waiting on another you know We're waiting either for it to drop back down to the support and pop back up over it This is sending support or for it to drop down to our 13,000 level now before it gets here There is a lot of supports down You know while you go down so the first support that we're looking at is 13,400 now We're not buying the support actively for a trade But it is this is more of a scalp than a trade than a day trade really because it it could go so fast So what what you will want to do is kind of the same idea you want it you want to try to catch it you want it to test it Go just underneath it and then pop back above it and when it pops back up above it That's where you want to be buying you want to buy the the bounce you don't want to buy the drop right because if you buy The drop you're probably gonna get stopped out. That's just usually how it works Look at this drop if you would have if you would have tried to buy that 13,400 level you would have probably stopped out Right, but if you would have waited for it to go down and then for it to come back up You would have bought that breakout and you would have been able to grab profits right there at 13,600 So that's why we're always looking to buy the bounce not to drop So that's the first one now the second support that we're looking at is gonna be around this 13,300 level because of the ascending support now So this is another trade setup and you want to trade it the same way You don't want to you don't want to try to catch that falling knife, right? You don't want to try to catch that drop you want to catch the bounce back up above it And then after that we have 13,200 you want to play it the same way because you don't you didn't want to catch this Look how far down this one this one all the way down to 13 119 so if you would have had like a $50 Stop loss and you would enter that 13 to you would have stopped out And then if you didn't buy back in on the break back above you would have missed out on the trade and you have a losing trade So what you want to do is you want it to test it? But you want to buy it when it's bouncing back above it So that would have been the winning trade there and And then after that the last support that we're looking at is at 13,000 level So this is the ideal level that we would want to enter 13,000 is the strongest support out of all of these So this would have the highest trade Probability so a hundred percent try to catch that 13,000 if we do test it one more time If not, those are the other trade setups that we're looking at If we're looking for a breakout the only breakout that I'm really buying right now is probably above 14,000 Anything above this there's just so much resistance in in these areas that I don't want to You know, I don't want to use any breakout entries up here. It's just it's not enough For me to want to enter Not enough reward for the risk, right? So I'm looking for a test back down here to enter if not I'm looking for a break of 14k then I'll enter that could probably lead to 15k So those are the setups that we're looking at over the weekend for Bitcoin We're gonna take a look at the other coins as some of the other ones But as always remember Bitcoin runs the market Bitcoin is a king. That's why we do such in-depth Analysis on Bitcoin's price and everything we just kind of go over it, you know Giving you different trade setups, but the analysis does not it's not as important on the other coins And it is on Bitcoin because the market moves however Bitcoin moves. Okay, so Ethereum If you look at Ethereum right now is exactly right in our buy zone Remember how I told you guys you don't want to buy this drop you want to buy the bounce So this is actually in the perfect area To enter right now you want to take this trade There's a trade you want to take you want to take it as close to 380 as possible But this is definitely a trade you want to enter you want to take As close to 380 as possible, but you want to catch that bounce like that boom So if we're entering here, then we're taking profits at around 390. So we're taking about We're gonna risk if we're entering at 380 We're gonna we're okay risking about five between two fifty to five dollars Depending on how much risk you want to take and then our first target is 390 So we have a ten dollar reward. That's so if you're risking two fifty for ten then you're getting one to four odds and if you're doing Five dollars if you're risking five dollars to win ten then you're getting one to two odds So so it just depends, you know, what odds you would rather have You can set up your stops tighter as far as Breakouts Probably not really looking for a breakout if I was trading a breakout here I'd be looking at the 390 level above 390 or above 400 those are two breakout entries that I'd be looking at But right now the main entry is 380 targets at 390 and 400 and then you can buy above 400 with your targets being 410 and 420 So that's what we're looking at in Ethereum. Let's look at Bitcoin cash Bitcoin cash is kind of on the same thing The so the support here is 260 And you see it went under it and now it's bouncing back above So this is actually a good time as well just like Ethereum to jump back in it You want you'd want to be Entering as you know around here that to 60 range and then your targets are 370 375 and 380 those would be your three targets Litecoin kind of in the same spot, right? We'd be looking to enter around here above fifty four dollars as you can see it's played as a support here That fifty four dollar range Previously when we when it's tested it so you could be looking to enter here at 54 with your targets being 56 58 and 60 being your three targets XRP XRP is in the same spot You want to look to enter above 24 cents with your targets being 2450 and 25 cents probably you're gonna be your your two targets and Then 2550 that 2550 area Excuse me Chainlink let's see what we got in chain link chain link the ideal entry that we've spoken about a bunch of times Is that $10 range right but if we don't make it down there then you're looking to buy at this $11 support with your targets being pretty much every 50 cents right so you want to you want to take profits at 1150 at 12 1250 13 etc with your Breakout being above $13 would be your breakout entry Tezzels has dropped a lot I wouldn't be buying any supports here I'd be looking to buy an entry above $2 as a breakout entry. That's the only entry I'd be looking at for Tezzels Neo kind of the same thing Neo drop has dropped a lot I'd be looking to probably enter above $16 breakout entry. That's the only entry. I'm really Interested in here Not really looking for any other entry. We do see that it's oversold over here though So it should pop up back above this But under $16. I just have no interest in it and Last let's do Cardano See where Cardano's at Cardano's kind of the same spot, you know, it's just dropping it's oversold But it continues to drop that means momentum is just way down here right now, right? It's not a lot of momentum So I'd be looking for a jump above probably 800 sats in order for a breakout entry here That's pretty much it I always like to look at doge just for fun see what it's been doing as you guys can see it's currently not doing much So I'm not looking to enter if I do enter it would probably be above this 25 satsoshi mark But yeah, it's not much going on with with doge right now That's pretty much it guys. I think we covered everything As you guys know I we did the question of the day if you're looking for the question of the day in the back of the In the back of the video if you just skipped over to the back ha got you it's not in the end of the video It's somewhere else look for it So just go ahead and look for that question of the day Answer the question drop it in the comments hit that subscribe hit that like tell your mom your dad your brother your sister Grandma whoever it is. Tell them all about this page. Tell them all about this channel Tell them to follow me because they want to trust me. They want to follow me That's basically it if you do all those things not only will you win a free membership? But you will become a crypto millionaire just like everyone else That started early, right? All right guys, that is about it. I've had a lot of coffee. So I'm just rambling on I will see you guys on Monday probably I will try to do a live stream on Sunday night I'll let you guys know on Instagram if I do end up doing that if not I will see you guys Monday for another market analysis and We will review what the market did while we were gone. All right guys as always peace and love