PRICE ACTION Actions that break from trend are always worth paying attention to... The 4H chart has been showing a divergence in RSI action compared to price; as price has been forming lower highs against a flat ( actually – slightly up ) RSI peak. As price as come back up to test the trendline again; RSI has failed to touch the top of its trend. This suggests...
PRICE ACTION Yesterday, we noticed that price did not fall to complete the descending channel in RSI. Actions that break from trend are always worth paying attention to... Since then, price has moved back above the $5150 range and is now up testing the $5350 and the 4H has set a higher high on the RSI. The setup I really care about is on the daily chart though....
PRICE ACTION Continuing to ignore what other markets are doing, and marching to the beat of its own drums – LTC is offering up a few mixed signals here... Starting on the 4H chart, we can see that price bounce off the $75 support (likely helped by the 28D MA @ $73.65 currently); and RSI has been slowly forming higher lows. If nothing happens on the bullish side...
PRICE ACTION BIG reduction in ETH margin long positions! 24 hours ago, ETH longs were almost 2.4x an average day’s volume; and they are currently down 10%; most likely through stop loss activations through the push down to $155. On the 4H chart; RSI is again coming up to test its resistance and the price action is currently looking for resistance around the...
PRICE ACTION As expected, the 4H chart rejected off the resistance on the RSI and broke back below the $5150 zone; retesting the bullish support of $5k. Somewhat interestingly though; price did not track back down to the bottom of the RSI channel; instead rallying off the price action – although volume is insanely low. Looking at the 5m chart; we can see RSI...
PRICE ACTION After spending most of the last 24 hours testing a consolidated range of 175-180; price broke slightly upwards at the start of the new day; and is currently teasing the possibility of a new local high point. The 1D chart has slightly cooled off; however, is still overbought with RSI currently at 73. With less than 1/2 a day of volume on the short...
PRICE ACTION The weekly chart closed with a relatively stock red body ( body larger than wicks ); which is somewhat counter to the indecision shown by the BTCUSD charts. This is likely due to Ethereum being closer to overhead resistance which was able to push down and restrict price earlier in the week. Looking at the lower timeframes; it appears that the 4H...
PRICE ACTION Leading into the weekend; the position was simple. Hold the short position until the price breaches the descending line. Rolling into the new week; we have a very important question to analyse: Is the trend about to fail? So, let’s have a look at the trends... There is no doubt the end of the week closed reasonably with an almost 7% movement in...
PRICE ACTION Starting with the 4H chart; we see that RSI has moved back to test the top of the descending channel; and the price movement above $5150 has lacked any kind of volume as all. Leading on from here, the 5m chart has been printed lower highs on the RSI over the last 24 hours; and again – outside of a small number of impulse candles – volume has been...
PRICE ACTION Hopefully, you caught this move when price was at $90+ and have been short for the last week days. If you are in this situation follow the below: Remain short until price breaches the descending trend on the 4H chart. This will give enough flexibility to account for any low liquidity volatility through the weekend. If you didn’t catch a short...
PRICE ACTION As price settles around $165; the volatility on the 5m chart has been consistently moving between 162-167 suggesting that the is not a huge amount of liquidity at the spot price. The daily candle closed very indecisive, so it will be interesting to see how the activity progresses through the weekend. The last several weekends have been bullish; so...
PRICE ACTION After a nice consolidation period; it looks like a weak sell off was attempted but quickly bought up by the bulls. The 4H “flag” looks well overextended compared to the height of the prior movement – so it looks like another leg down would need to come organically rather than through a further impulsive move. Price is in the middle of the post...
PRICE ACTION LTC closed below the bearish threshold in a big way; down over 10% at time of publishing. Unless a lot of bullish capital comes in over the next 90 minutes; the current price also invalidates the hidden bullish divergence that was forming on the 4H chart. Looking at the 1W chart, it shows that this $75-$80 range was supportive for a few weeks back...
PRICE ACTION ETH is probably the most fully developed example of the change in market sentiment since the start of April’s bullish rally. The 1D candle that closed yesterday showed incredible indecision; and when the new daily candle started; the bears immediately filled the downside wick. The current 4H candle has wicked below the 168 support; however, this...
PRICE ACTION BTC bulls attempted to push the price through the $5300 resistance; however, it appears that there was not enough bullish liquidity and the market thinned out. This resulted in a price drop of almost 7% and – importantly – a break of the rising trend line. $5100 should provide some level of support; although it could just as quickly fall apart as...
PRICE ACTION LTC, which is normally a leader in this cycle, is sitting – waiting – for someone else to make a decision. After a strong 2.88% bounce on the 4H chart, most of that move has fallen away over the last 20 hours, due to a lack of volume. The 1D chart is, however, showing a green candle which should excite bulls after most of this week being bearish....
PRICE ACTION BTC has remained in the lower half of its rising pattern as $5250 continues to be resistive. Looking at the 1D chart, the indecision candle was followed by a red daily close; although volume has been weak on both sides. Over the last 24 hours; the 5m chart shows price has ranged between 5150-5300 and RSI has predominantly been below 50. Factor this...
PRICE ACTION ETH has been bouncing between 175-185 over the last 24 hours as it struggles to find fresh capital to continue to push higher. With 3 of the 4 monitored time frames leaning bearish; and the 1D closing with a long upper shadow (almost a gravestone doji...) the market should be looking nervous. Looking at the 5m chart; we have seen lower highs formed...