 Bitcoin has just set new highs over the weekend when's the last time we saw these prices you would have to look way Back all the way over here right before the crash on May 12th for the last time that we actually saw $57,000 on Bitcoin. Damn. How long has that been? Let's see one two three four four five months since we've seen Bitcoin at these prices six months really if you include May because it happened on May 12th and we're in October 11 So what is next for Bitcoin? Where are we going from here? What are the next resistance levels because guys? We're almost at that level where we're gonna hit the previous all-time highs We're gonna look into all of this this week and see what we can expect From Bitcoin for the next few days. Let's go ahead and dive in to today's video 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 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 If you enjoy this video, make sure and smash that like button for us. Let's dive in to today's video So first off, let's go ahead and look back at the trade setups that we gave you guys on Friday's video And see how they performed. So the trade that triggered over this weekend was that $55,000 entries. So the idea here was to enter on the break out above 55k because it was an important level in Bitcoin. So you'll see that on Saturday We went up as high as fifty five thousand six hundred and then yesterday. We went as high as fifty six thousand six ninety one before going lower again today, we opened up at fifty four thousand seven twenty five and that went up as high as fifty 7875 so there's definitely been opportunity to take multiple trades in this in the last few days But if you just bought that breakout that initial breakout and just held it and up to the top It would have been around a fifty two percent Profits on that trade if you use 10x leverage like we always do and if you just opened it and you're holding it right now Then you'd still be up thirty six percent on that trade Remember that we use by bit to trade with leverage if you guys are interested in using by bit We have our referral link in the description which helps the channel So let's go ahead and take a look at what we can expect for this week and see if we can find some trade setups All right, so currently sitting at fifty seven thousand dollars here So if we zoom out and check back on history Remember our favorite thing to do here is looking back in history Seeing what Bitcoin did previous times when we were at the same price level So if we go back in history back to February of this year You will see that we topped out at fifty eight thousand five hundred dollars Before having a small pullback here that eventually led to the rally all the way up and set a new high here About sixty two thousand dollars at the time But you'll see that we had a lot of things going on in this level here You'll notice it there. You'll notice we have the rejection here You'll notice all the consolidation there And if we move over to April and May you will notice again a lot of consolidation within the same exact range So we can definitely say here that this range that we're currently trading within is a very important range for Bitcoin if we pull up the volume shelves here, you will see that we gapped up through here So remember we spoke about that gap and look at this green candle that we got here when we moved through that So that's basically a one-day candle remember We said that if we broke above this fifty thousand dollar range, which we got faked out that one time here But this time we did not get the fake out this time We actually broke through and we said that there was that the volume fell off drastically here So we expected a big run-up to around the fifty eight thousand area because that's really when the volume comes back in So now here at the current prices that we're at you will see that this is the peak amount of volume here You'll see that this is there's more volume there that there was here and that there was down here So this is the most buying and selling area for Bitcoin right now Which is why when you look back in history You will see that there was a bunch of times where Bitcoin had trouble getting past that area and there was so much consolidation there a Lot of people are buying and selling so maybe some of some of the wells are selling here A lot of retail it might be jumping in with the FOMO coming in We don't know exactly who it is that's buying and selling But what we do know based on this is that there's a lot of volume there So we could possibly expect some consolidation here now. What happens when we break above this area Well, look how the volume drops off again if we can break above that fifty eight thousand dollars our Next resistance is sixty thousand but sixty thousand although it has been a resistance. That's rejected us rejected us multiple times You will see that the volume is nowhere near as much at Sixty thousand which is basically right here then it is where we currently are right now Which is at that fifty eight thousand dollar area So I'm expecting if we can break above this shelf for the prices to just go back up and retest that sixty five thousand dollar area and if we break above Sixty thousand I can pretty much say that we're going to set new all-time highs at that point now, of course prices Don't just go up guys There's always some sort of pullbacks and again if you look back on history We'll see that we had pullbacks in this exact area the lowest of the pullbacks went all the way back to that $42,000 area, which is exactly where this breakout started So do I think that we can return to forty two thousand dollars right now? No, I don't think so the reason why is because I believe just like we were doing here We're going to be setting new higher highs and higher lows So if you see here before this there is a higher high and a higher low higher high higher low higher high Low and so forth and one last higher high there before we switched that trend up So what are we currently doing right now? We set up a higher high higher low higher high Higher low and I'm expecting we already have the higher high So when we do get the pullback, which it's going to eventually happen at some point We should be setting up a higher low now working that higher low B That could be probably somewhere around that fifty thousand dollar range is where I would expect it if we did fall 50 then 48 would be the next area that I would think we would get the support for the bounce on that higher low The reason why is because remember forty eight thousand is a very big support and resistance area Yes, you can see that we've had a lot of consolidation there just like we've had at 58,000 and we're also going to be right there with that Fibonacci level and we're gonna have the moving averages there And if we also pull up the volume shelf, you can see that the volume picks right back up there after this gap right here So when we do get the eventual pullback, that's kind of the level that I would be expecting to see a bounce To set up a new higher low before setting up a new higher high So what trade setups are we watching for and looking for this week? So the main trade setup that we're watching here is a break above fifty eight thousand dollars So that's going to be the the first trade that we're looking for of course We would love to see volume with it But if we get any type of pullback, then that's when we're looking back at the first level which is around here that $55,000 so that would be a bounce entry remember so if we get something like this We're looking to enter on the bounce not on the drop And if we were to pull back any lower than fifty thousand dollars is where we would be Looking for our next bounce back entry now if we do break fifty eight thousand this week and Continue up our next breakout entry would be sixty thousand dollars And we'd be looking to ride that up to possibly between sixty two to sixty five thousand dollars and Beyond of course beyond sixty five is a new all-time high that is it for today's video guys I hope you guys enjoyed this video if you guys have any questions about anything that we covered in today's video Don't forget to drop it in the comments I'm always happy to answer those comments for you guys if you guys are new to this channel Don't forget to subscribe don't forget to turn on the notifications and if you guys enjoyed this video Go ahead and smash that like button for us. It helps us out a ton. Have a good one guys I will see you guys on the next video as always peace and love