 It has been a volatile week in the Bitcoin markets this week. This week, Bitcoin's price reached new all-time highs. This week, Bitcoin reached a new all-time high of $69,000. It's actually around $69,182. But we also reached a low of $62,000 on two different days, as you guys can see here. So it has definitely been a wild ride this week. Hopefully, you guys were able to survive the week and capitalize on this volatility. If your trades did not survive, then you're definitely going to want to stick around to the end of this video to see some possible trade setups that we will be watching over the weekend to hopefully make your money back. So let's go ahead and dive into today's analysis. All right, so currently we're sitting at about $64,000 on the day. Today, we've hit a high of around $65,500 and a low of $62,300. It's currently 6 p.m. Eastern Standard Time. So then daily close here will happen in approximately around 45 minutes from now. So that's definitely going to possibly bring in a little bit of volume, some possible volatility, usually for about 15 minutes or so. Sometimes, you know, more or less, it just depends since we're going into the weekend. I don't expect too much here at the close when the daily close and daily opens happens. That is one of those times where the price can move. Starting the week off with a basically 6% candle to the upside. We've spent the remainder of the week Tuesday, Wednesday, Thursday and Friday just dropping back down, retesting this previous support over here. That was previously over here a resistance. So that all correlates there together. As you guys can see, that is a strong support there, which is exactly where we bounced off two times in a row now. So that area right there, that's that $62,000 area, as you guys can see here. And basically what this looks like it's doing after a big move to the upside is just kind of retracing a bit. And it looks like it wants to just confirm the breakout and confirm the support there. So potentially it could even drop a little bit lower to around 61. That's where this right here is, which was a previous resistance, which is now would be a support. But of course, we're hoping that 62 holds here and we're able to just kind of bounce back up and continue on our merry little way, right? Looking at the daily, we're looking at the daily chart here. So looking at the daily here. Now we are seeing something a little bit interesting forming, right? So the first thing that we notice is over here, we were, of course, overbought at the time, which is when we set any all time high and when we're overbought, you know, price usually either goes down or consolidates. And that's exactly what happened there. We had a drop. We consolidated for a bit before this next move up. Now this is where things get a little bit tricky. We did move up and we set a new all time high, right? Now this is the issue here. Look at this high and this high. Look at this high and this high. It doesn't make sense, right? There's something not right because the price, although it did go higher than the previous price, the RSI did not go higher. It went lower. So what does that mean? That's called a bearish divergence. So what is a bearish divergence? When the RSI and the price action do not match, right? This means that sellers could possibly be getting exhausted. Means there's less momentum coming into the space at the time and on this move up. And usually it means that we have to correct, right? Now, this doesn't mean that it's going that that's what's going to happen 100 percent. But these are the signs of a possible correction at some point. If we look back in history just recently, really back in August when prices were going up, you see that we had set a high there and then continued the price continued upwards. But if you look back down here at the RSI, you see that we set a high there. But then the RSI went down. So again, this was not matching each other. The RSI was going down. The price were going up. That's a bearish divergence. So what happened at that point? Early September, we had this big drop off here, which again, it took the RSI way down and it kind of reset the RSI so that we can then continue to the upside, which we, of course, then did the rest is history. But right now we are it's looking like we're back at these crossroads. We set this high on October 20th and now we're currently sitting on November 12th and we are seeing some bearish divergence here. So we can just kind of take a measure here so that we see exactly how long that was just to get an idea. And it was about 39 days. So if we set up the same thing and let's set it for 39 days here, that would give us an estimated an estimated date of November 28th, which would be the end of the month. Now, of course, it's not going to be exactly like it was before. Sometimes this could happen much quicker or much slower. But overall, I'm just I want to bring it to your attention so that you guys are aware of what the charts are currently showing you on the daily time frame, right? Now, this is only the daily time frame. So on the weekly, which is the more accurate and a more long term signal, we're still good here, right? We're going up, the price is going up and we're not overbought as of this moment. So there we're good on the monthly. You guys can see over here that we're getting into that overbought territory. But we can be overbought for quite some time, as you guys can see here last time that we that we hit this range went all the way up to the 92 level. And currently we're sitting at about 73. So not really much to worry about. You'll see here also that last time we broke into overbought like we are right now. If we went from October 1st all the way to around April before we saw the drop. So we had a lot of time in this overbought area. So I'm not concerned on the monthly. I'm not concerned on the weekly. Right now the only concern is really on the daily. So that's that means that it's a short time frame signal means that any drop that we have, it won't be crazy, right? It's not going to be a huge drop and it won't be long term either. It could simply be something like we saw right here. If we follow the same path as we did last time, we're about halfway through it. So that means that there's still room for us to move up in price before we get any type of drop of that caliber. If we take a look at how far this drop ended up being it ended up being about a 25 percent correction where we went from a high of 52 949 to about a low of 39,500. Now, in the scenario that we were to see a drop like that, that would kind of put us around a 25 percent drop will put us around. So it actually puts us at $52,000. Now, of course, this would be saying that we already hit the the top of this current move up, right? So if we go up higher than this current high here, that drop could be, you know, less. So let's say that we moved up higher. Let's say we hit our target here. Remember our target that we set here we spoke about on Monday's video. This target was eighty eight thousand dollars. Let's say that before we get this potential drop that's, you know, towards the end of this month, we go parabolic and hit this target. In that event, then a 25 percent drop from there would be back down to about seventy thousand dollars. So I think that puts things into perspective, right? Because now a 25 percent drop at that point would just put us back to basically where our all time high currently is at. So that's not too bad at all. But a drop from where our current high is that would then put us back down to around fifty two thousand dollars. You will also notice another thing here that fifty two is actually right by where the Fibonacci level here. This this is a Fibonacci retracement level. This level right here is currently sitting at its it's over fifty two. It's not exactly at fifty two, but it's in that range. So this does not mean that for sure we're dropping or that we're dropping exactly to fifty two doesn't mean that we've topped out here. It does not mean that we we will not still head up and hit these targets up here. It just means that this is something that's currently popping up on the chart. This is usually a signal that, you know, either a correction is coming or some consolidation or consolidation period is coming. So I'm just giving you guys the heads up because I don't want you guys to get caught in over leveraged positions. When we're at all time highs, people usually get greedy. They over leverage, they risk more than they should and they end up getting liquidated. That's when we have massive, massive crashes. So now the next thing we're going to cover is some trade setups that I will personally be watching over this weekend to try to fill in some trades and hopefully make some profits. Remember that usually during the weekend there's low volume and it's usually on Sunday going into Monday when the futures market opens that we start getting some movement, some volatility, more volume in the markets. So right now the first breakout entry I'm going to be watching. 65 is a level of interest, but because we've had just so much consolidation in this range, you probably want to play a little bit safer and look for an entry above these candles, right? So that entry would be above $66,000. If we go beyond that, that next level that we might be looking for here is going to be 68 and 69. Of course, 69 being on top of its previous all time high. So that would be around 69, 200 for the breakout entry there, which should take us, I believe, above and beyond $70,000 at that point. If we see some movements to the downside, the first support is 62,000. So we will be using that level as a bounce back entry there. The next support is going to be 60,000 and the one after that is going to be 58. So the way we like to enter these, of course, is on the bounce back. So what that means that you don't want to try to you don't want to try to enter when it's dropping to that level. You want to look for a bounce back up and you want to enter when it crosses back over that price. So that's it, guys. Those are the trades that we are watching this week. Hopefully we can all make some profits. Thank you guys so much for watching this video. I hope you guys had an amazing week. I know it's kind of volatile, but still we've hit an all time high again this week, so I still feel pretty good about it. If you guys enjoyed this video, don't forget to smash the like button. Also, if you guys are not subscribed yet, don't forget to subscribe to the channel and turn on notifications. If you have any questions about anything that we covered in this video today, drop it in the comments. I hope you guys enjoyed it. I'll see you guys on Monday. Have a great weekend. As always, peace and love.