 What's going on YouTube it is Bitcoin Jay again with another video today's video today We are going over the we're doing market analysis going over exact positions where we're looking for entries Where we're looking to build our traded setups with entries where we're looking to take profit where we're looking to set our stops and You know where we're looking to short if it comes to that so we go over Bitcoin we go over What else Ethereum Bitcoin cash light coin? Ripple chain link Tezos Neo Bitcoin futures we go over everything So check it out guys enjoy make sure to answer the question today leave it in the comment follow subscribe like love everything pace We are way zoomed in right now. This is an hourly chart. Let's zoom out to the daily See how that changes Let's zoom out to the monthly real quick So if you guys know me, you know, I like to do top-down analysis So I start from The monthly while the monthly is kind of big. I just kind of like to get an idea of the monthly where it's at Then I go to weekly and then I go I go to smaller time frames But look at this monthly candle super red Look at this Rejection right here. This is last year And then we're getting the similar rejection right here right now So And we're still good If we get a line When we draw support Kind of gives us gives us an idea if we continue on this ascending trend line Gives us an idea that if we were to drop This could be an area where we would have support so this is The $8,000 range if we break if we broke down under this Ascending range though ascending support line Then we could be looking at a drop down to this these levels right here not not the pandemic levels because this right here was Because of the pandemic But these right here This is the six thousand to seven thousand range Let's go to the weeklies. So right now. This is the weekly There's a weekly chart here. I Can't zoom in no more So the weekly So when I when I say the weekly chart that means that every single candle is One week's time. So this is what the price did in one week. Yeah, I understand So every candle equals one week So that's what we're looking at right now. And as you can see here It is where we took off in July and then this is where we got stuck in August So we got which was is a top of the Fibonacci, which is twelve thousand five hundred So there's a Fibonacci tool that I use if you look a little a Little bit back you see that we took off here We kind of got stuck here for a little bit and then we took off again And now we're being rejected. So last time we didn't have a rejection This big as big as it's the one we currently having right now The reason that we're having such a big rejection here the 12,000 level is a very very strong level Because we were rejected last year at the same level So you see 12,000 right here last year look at last year June July July We got rejected down and then we came back up in August We got rejected again in August and then that's when we when we shot all the way back down Until about November in November. We kind of just consolidated We started a new year off trending up until corona Virus hit and then that's when we have this huge red candles. There's when everything was going down So that's just what causes this is fear and uncertainty So when people have fear and uncertainty then They go to cash and that's why prices on everything goes down because the whole stock market was down from Doesn't matter where you were the the market was down Everything went down because when there's a crisis people go to cash instead of Instead of What do you call it of being in invested in stuff? so So yeah, so currently we're in this We got rejected we topped out at twelve thousand five hundred We went as low as what was the low here? 9817 9811 so 9811 is the low from this drop here If we zoom in a bit to the daily so now we're into date. We're looking at the daily chart so You know how the last one was a weekly chart meaning that each candle was equaled one week now the daily chart every single candle represents One day so it gives us a breakdown of what's happened every single day green means up red means down So you can see here. We have just been consolidating here after this big drop And you can see the two levels that that are marked here Both these levels right here. This is where we've been consolidating and ranging Now we have the last few days we did range up a bit And it's also the wicks have gotten a little bit smaller. We did try to break back out here on What was this yesterday? The third the 13th. Yeah yesterday. We tried to break out a bit But we got rejected back down So we're still being rejected by this Fibonacci level, which is the point six one eight level You see how we keep getting rejected on this line every single day. So that's a very strong level there We basically Need to break out of here to get to this next level then we have to then we'll have this level right here Which is a point five Then we can go up to the next one and so forth So all of these are going to be barriers on our way back up And then the bottom is going to be support so If you look at the pattern itself the pattern is a bear flag now what a bear flag means it's basically when there's a big drop in the market in the Asset or whatever it is that you're looking at Whatever currency you're looking at when there's a big drop and then consolidation happens after so big drop consolidation and then usually The the so if you're gonna play the probabilities the probabilities after a big drop in Consolidation is a continuation of this big drop. So it's usually the way it plays out usually is is a big move Consolidation big move. So if you look down here, if we look at what happened back here We had look at these big move then we had consolidation and Then big move up again Then you could even zoom in further in and you'll see those same things happening over and over and over Because these moves were up It can because the big move was up then the consolidation happened then the continuation of the big move right here So big impulse move consolidation big impulse move Consolidation and it broke down. So that shows you that just because it's it's this pattern This was see this one right here was a bull flag So the probability was that I was gonna Consolidate and then I was gonna continue up But we didn't we because we met a big resistance level, which is a 12,000 mark and we didn't have enough buying We didn't have enough buyers to get through it So we got pushed back down and and now we had a big move down now we're consolidating here So we continue consolidating here and we continue this pattern then We would break through here and we would probably break down and to to this area here See where all this consolidation happened. We would break back down to that area So if we broke down under this level right here, which is gonna this is gonna be the next support Which is around 92 to between 9,000 to 9,200 So that's the next point of consolidation. That's our next supports if we break down Through these levels now if we break up then we're looking at like I told you guys each one of these zones here are gonna be a resistance And then the major major one is a 12,000 number. That's gonna be the biggest one So that is If you're holding Bitcoin And it goes back up to 12,000 I recommend selling as close to 12,000 as possible and then Setting buy orders above 12,000 so and I would set by orders above this high actually so above 12,500 above 12,508 probably So you could sell at 12,000 because if we get rejected again Then you could buy at a lower price like right now right now you could buy a 10,000 if you just sold at 12 That's a two thousand dollars two thousand dollars you would have saved So if you if you buy again, then it goes back up now you're making more money You know what I mean, but that that goes more into trading and you have to have more of an understanding of what you're doing If you're doing that if you don't have too much of an understanding on trading Then I just recommend leaving the money in for long-term purposes and just not going in and out of trades If you want to learn how to trade And you want to practice then practice with a small amount Leave the majority of your money in Bitcoin and just take about like five percent of your total capital and practice day trading with that You guys you don't want to use all your capital because then More times than not you end up losing money hmm So yeah, so that's pretty much what what we're looking at here if we zoom in to the four-hour chart We just kind of see the same thing So now a four-hour chart means every candle represents a four-hour time period Let's continue This Let's switch back to the daily charts So this is a daily what's happening here. We talked about The pattern we talked about What we're seeing in the long the long term and the shorter term The supports and resistance Now if I'm looking for an entry If I'm looking for an entry or if I'm looking for a day trade here I'm looking to enter you see you see down here this support right here. So this is the 9800 zone you see how they touched right here So these are the entries that you want to take if you want to go long Like if you want to if you're predicting the price to go up or if you're trading the range So if you're trying to trade this range right here, what's what's been going on then up here You want to sell and down here you want to buy? Another way to play it is break out So you want to if it breaks out then you can buy like they say breaks out of this range Then you you enter along and and then the idea is that it hits this up here, which is 10,800 Now what happens sometimes when you're playing break out so that you have to be prepared for is that you have fake outs See these all here Boom one two three four five six. These are all fake outs It like pretended like those gonna break out it started breaking out and then it just dropped again Like it got rejected instantly So that's why you always have to have a plan you have to know where you're gonna exit if you do enter the trade So you minimize your losses. So a trade that I took this weekend. I entered on the break of 10,500 on Saturday, I believe it was what days today today Sunday. So Saturday night probably Saturday and afternoon I don't know sometimes Saturday And it broke out and you see how it went up to 10,583 but then it dropped it got rejected So I exited the trade I didn't take this loss right here and now it's currently at 10,300 So if I'm looking to enter I The sweet spot is down here The second best support to enter at is gonna be these the end of these candles The reason this is a support right here is Because of the number 10,000 10,000 is a whole number. Remember when it comes to whole numbers, we've talked about this I talk about this all the time. It's it's a psychological support people like whole numbers They just like to buy at whole numbers or a sell at whole numbers. It's it's psychological It's it's part of the humans in trading So 10,000 is the next the second best support entry And then after that 10,200 is the next best support entry So if you're looking for support entry is down here the night 9800 zone 10,000 zone and 10,200 Now the higher up you go in this, you know how it's going up and down the higher up you take a trade the riskier it is And the more likely you are to get stopped out So that's what you have to be careful if you're taking trades up here Now looking for a breakout I like the trade above 10,500 I would I I'm entering trades above 10,500 even though there is a fake out. I'm still taking it again I'm taking the trade above and then I'm keeping a stop loss under 10,500 so if it fakes out and it goes back under then I'm stopping out and I'm fine with taking like putting like a $50 to a hundred dollar stop loss and My my targets are basically gonna be 10,600 10,800 or you could do 10,600 700 800 Those could be your three targets because up here is gonna be resistance So you want to be taking most of your profits here And you want to be if it does break above 10,800 you want to do another Breakout entry up there and so you re-enter above the resistance So the idea is to sell at or before this resistance and then buy again Enter a brand new breakout trade above the resistance All right, so Ethereum Looking at Ethereum. We have basically a very similar pattern here. So remember the the Bear flag pattern I told you guys about with Bitcoin. We have the same pattern with Ethereum So it's a bear flag and then consolidating now It has been trending up a little bit more and it's actually kind of been writing this moving average It did drop below it here Which was today today, I think it's down 5% There's a 50-day moving average on the daily And then this is a 20-day moving average here 20 day. So it looks like we ran into the 20-day moving average We ran into a previous support resistance zone here, which is around the 380 mark So it looks like 380 If you guys look at that mark See 380 So you guys can see here 380 Gave it issues here like it took some consolidating here before it broke out above that 380 mark to 400 Which is another resistance remember whole numbers So look how each candle represents one full day. So look how many times we got we just consolidated in between Uh three, what is this this one's 400 to 380 so 380 here was support Remember support resistance turns into support once it breaks above it and Then we finally broke out when we broke out we went all the way to what 440 Yep So we hit 440 then we got 440 was a resistance We came back down to 400 which is it well actually we came back down to 380 Look at look at this right here. We dropped straight down to 380 the support where it's at right now then we took back off to What was it for? 488 was the high so we almost made it to 500 which was our target in our trade group because we entered the trade above We entered a few trades here But then we got rejected all the way back down now. We're back at this 380 zone. So this 380 area It's definitely a good area to enter a breakout trade, so I'm looking to enter Let me see. What is the high here 380? So I'm looking to enter above 380 and My first target is 390 Second target 400 my 400 is also resistant So we'll probably bounce around at 400 and I have Another entry set above 400 So that's how we'll play it for the long if I'm looking to to go long if I'm looking to go short then You're gonna be using 380 the 380 is resistance to enter So you'll you'll want to enter around as close to 380 as possible to short it Or let it go above 380 and then wait for it to go down if it gets rejected back down under 380 Then you enter a short here Yeah, it's about it. I think as far as a short I guess the only other way I'd enter a short I do a breakout short around 350 so under 350 I'd enter a short and Then the targets are gonna be 330 330 310 300 other three targets here If you're entering a short So it all depends what happens here It depends more what happens with Bitcoin So if this if the flag the bear flag does play out and it just continues and then drops, you know continues down Then that's a that's a short you can enter because if we break down and if we break under 300 We could see these levels over here again. This is a support So this is 250 So we could definitely touch 250 again if we break under 300 So that's those are the plays I'd be doing in Ethereum just depends which way you want to play it, but the three remember the 380 Price range is the main thing you want to look at and You want to use that number to figure out your entry and the next number you want to use to figure out your entry is 350 so 380 and 350 of the two numbers you want to Build basically build your entries around Let's take a look at Bitcoin cash Bitcoin cash kind of the same thing we have the the big drops and Consolidation and it this has like very very little movement here So it's been consolidating and it's gotten pretty tight. So I'm kind of playing this the same way I'll be playing all of these the same way The breakout here is 230 The support is 220 so for this range for this small little range that it's plain So you'll be using 220 you want to enter as close to 220 as possible For a long entry or you want to use that 220 if it breaks under that 220 zone If it breaks under this low to start to look to enter a short The support is 200 the support is going to be 200 here And if you're going up If you're entering at 220 your target are 230 is the first one I would also take some profits at 235 and then profits at 240 Because 240 to 250 is going to be a resistance See right here So it'll have to break through there Remember when you guys are looking for targets and entries and support resistance Always look back on its history what it's done before at the same price levels because it always reacts the same not always but For the most part It's likely to react the same because a lot of people are watching these same levels So a lot of people are like, you know, they see this they're like hmm last time it was here at 220 look what happened it took off. So, you know, maybe it's gonna do it again So people are gonna buy here at 220 and if enough people buy Then This is what could happen just an idea So you have to be ready regardless of in which direction it goes Let's look at like coin Like coin a little bit more of the same We have basically this is called the Bart pattern I don't know if you guys ever heard of the Bart pattern You can kind of see it in all of these See see how this right here Like if you just look at this outline it looks like Bart Bart Simpson's head Like this is his head his hair, you know, he has spiky hair and then this is the back of his head So it's called the Bart pattern It's actually happens a lot in in crypto if you look at all everything right now, although Everything's gonna have the Bart pattern right now Bart pattern Who's heard of the Bart pattern before you guys are heard of it like Bart pattern trading Name for its resemblance to the cartoon characters hairstyle that pattern traces and upward swing Someone even or spiky sideways trading followed by a swift drop. So if you look at images Haha, look at look at this This see Bart Simpson You'll see you'll see it a lot in trading So you'll see it a lot That's called the Bart pattern. All right, so so let's continue So we saw a light coin light coin same thing guys For entries, let's see. So if I'm looking at enter light coin the levels that I'm looking at is $50 the very obvious one 52 so it looks like 50 to 52 So a resistance zone here, right and then the bottom We're looking at 45 to 46 So 45 to 46 range, so we're at 47 right now. We're not far from this bottom of the range right now If I'm looking for a trade to enter in light coin, I'm probably looking to enter above See probably looking to enter above $52 to go long. So that's a long entry breakout. This is called a breakout trade Above 52 I would enter a long Targets would be 55 56 well the 55 Probably 60 Yeah, 55 60 and And 64 55 16 64 so Hmm. So if you have a $5 reward That means that you want to take about Your risk you're gonna want to have it up under About a $2 risk you take about $2 risk. So have your entry like under $50 It breaks down under 50 then you want to get out and If you're looking to enter on support, it's just I don't really like the support but the support would be around here $46 The 45 to $46 is support So you'll be looking to enter here and your first Your first Profit would be $50. That's $5. So if you enter around 46 I say enter 46 you would set your stop below $45 gives you $1 stop. It gives you $4 Rewards so you're risking $1 to make $4. That's a 4 to 1 risk risk reward ratio It's a good trade to take and if you're looking at the short side You want to be shorting under $45. So if it breaks $45 if it goes under it, you're gonna short it You're gonna be looking to take profit at $42 at $40 at 40 and it looks like at 38 so You're basically if you're entering under 45 Your first profit is $32 So I don't like I don't really like it. I mean you can let's say you enter at $44.75 They have $2.75 reward and You've set a stop above 45 So you can set a stop like 50 cents stop or something like that. So I mean I guess it makes sense Yeah, you can take that that gives you the right odds to play it Right at risk reward odds You always want to make sure that that the plan makes sense Where you're entering and when you're stopping out and where you're taking profit You want to make sure your risk reward always makes sense So if your risk reward is 4 to 1 for example Like so if you if you're risking $1 to make $4 Then that means even if you lose You know Three out of four trades you're still breaking even So you only need to be 25 per unit. You only need to be right 25 percent at a time just to break even You know what I mean? And the same thing if you're if you're all there three to one You only need to be right 33 percent of the time to break even So as long as you're you're able to be right half the time you should be profitable That's why you always use proper risk reward XRP Let me zoom out of XRP real quick. See what's been going on here. Not too much Yeah, man XRP Kind of the same thing Let's zoom back in to the daily chart Working at the same pattern the impulse move down and solidation as We wait for its next move as it decides in which direction which direction it wants to go So we're we're hoping that it bounces back up But remember all of these are right now are correlated with Bitcoin. So These patterns are the same exact pattern as Bitcoin. So if you're looking for a trade on ripple wait, this is That was like coin if you're looking for a trade on ripple you can see here another part pattern So ripple if you're looking to short The entries is on a break of 23 cents if you're looking to enter The entry is around 2024 23 and a half to 24 cents Now I wouldn't even enter 24 cents 23 and a half to 24 cents is your entry or from 23 cents to 24 cents really Because if you enter at 24 your stop still has to be below 23 and Then you're looking at 25 cents as your first Target, so the closer you can enter the 23 cents the better We're looking for a breakout then above 25 cents You can enter and sell below 25 cents So if it goes above you enter the trade if it drops back below you want to you want to close your trade and try it again Because taking small losses doesn't matter guys Don't let the small lot small losses phase you or make you make you emotional about your trade. Keep taking a trade link chain link Chain link we spoke about several times as Well, remember I told you guys not to buy up here I don't know if you guys saw that video or we're here during that live stream, but I told you guys Do not buy when those up here And this is why It's gone all the way down So now we're back to levels where we can enter Ideally you want to you want to enter at $10 So it didn't reach that $10 mark If you guys saw one of my previous videos, I had called that that mark out If you're looking to go to enter up you want to basically enter above $13, but look all these fake outs So maybe a little bit above 13 above 1350s where I would look for a breakout entry If you're looking to short Then $13 is where you want to short And have a stop above 1350 Or you could do a breakout short It would have to be around $10 below $10 it goes under $10 you can short it You got us your first cell Gonna be around here in 925 first target your first take profit target Um, but I don't I don't know many people selling chain link like shorting it But just in case anyone does want to look at Tezos Tezos a lot more the same It's just been trending down it is now at a support here the support it looks like 240 ish Let me see 220 to 240 looks like a support and then 250 was 250 Yeah Yeah, so around 240 the 250 is a support so you can enter here using the this low here as A stop so under 230 you have us you'll have a stop loss. Well, actually You probably you see these levels right here. They went all the way down to 220 So yeah, if you're entering Tezos for any reason your stop has to be below 220, which is these lows over here So if you're entering at 250 You want to basically a 30 cent stop your target is 280 is your first target You're entering to fish that third. That's also 30 cents. That's a one-to-one risk reward So not really I wouldn't enter at 250. I would try it maybe 240 240 then you're risking 20 cents For 40 cents that gives you a two-to-one risk reward ratio. So that's a trade that I'd be interested in taking I wouldn't enter at 250 though and you could do a breakout trade also above Mmm, you would have to enter above 280 for breakout and have a stop below 280 your first target $3 Slick at Neo Niels been going up man. Any of you guys trade Neo Neo Neo is actually back up To the point to the hide where it dropped from So Niels of it is an interesting coin right now 20 cents is actual a support where you can enter for Neo With your stop your stop's gonna be about 75 cents actually your stop you might as well just give it a whole dollar Your first target is 22 so like that'll give you a two-to-one risk reward second target 23 So it's not a bad. It's not a bad trade to take. It's only a two-to-one, but It's it's actually looking pretty solid There's a pattern from where it dropped It's recovered already So it's pretty strong. I like this trade I might consider taking taking this Neo trade in our VIP group. Look at Bitcoin futures so If you guys watched my YouTube video, I talked about this Gap right here. See how there's a gap here 11-14 so they already opened again for this week So we'll see how there's no gap here Well here between the 24th and 27th there is a gap because the price went up So a lot of times what happens in trading gaps get need to get filled before we can continue up So a lot of people Technical analysts are saying that the reason the price is currently going back down is because we need to fill this gap So the gap is that 9600 so That's one level that we have to pay attention to because we could fill that gap that might be the reason why we're currently dropping and Maybe once we touch this gap once we fill it. We might bounce back up so just Something for you guys to keep in mind and Anyone else who's been in here lurking like CV time appreciate you guys It is very well appreciated that you decide to spend your evening with me or your morning wherever you are in the world I'm not sure where you guys are But where I am it is 140 a.m. Right now and I've been up since like 9 o'clock So I'm pretty tired and I got to be up and I had to be up in six hours Or less what time of the yeah, I got to be up in six hours guys to trade the stock market. So Peace and love guys See you on the next What's up guys? It is time for the question of the day Hi guys as you guys know question of the day every video We will have a random question about something in the video the question will always be in a random area of the video Like it is now Find the question and find the answer in the video post your comment You post your answer in the comments for a chance to win a free months membership to our trading room Winners will be picked randomly once the video receives over 30 likes guys that number changes as we grow So good luck. Here we go guys. You ready? Question of the day is what is your favorite setup for a trade entry from today's market analysis? So go ahead and drop a comment with your answer to that question And that is pretty much it guys. Thanks