BTC rejected from resistance yesterday, leading to consolidation remaining in this tightening range.
Break is imminent within the next 24 hours and how this 4 hour pattern breaks will have significant implications on how the daily range breaks.
Bulls need to show up this morning and shift the hourly trend to form a 4 hour higher low.
Currently still in an ETH...
Ranges are tightening up and how this pattern breaks this morning will likely dictate direction on the day.
The bulls are still holding 4 hour EMA support, and the daily chart is still holding well for bulls.
If we bear break we will zoom out and look for the daily higher low to still need to be set.
Inside bar on the daily yesterday and another is possible for...
BTC bulls made a push last night that rejected from the high of this entire move by 1%.
What is notable is the bear break on the 4 hour chart with no follow through.
This is notable because there is a lack of price history support in that range, yet bulls bought the dip quickly.
The sooner the bulls erase this double top, the better for comfortability.
Last night we saw a flush with a significant amount of long positions being liquidated.
This crushed liquidity in the market and cleared out all orders within a 15% range.
Surprisingly the bounce on BTC was the best in terms of %, as we finally hit hourly oversold conditions for the first time since the bull move. Even 4 hour RSI was oversold at the low of the...
BTC Bulls still holding very strong day after day. Not only are many surprised we got to $8k, but now they are surprised how long we have held it.
The sideways tight action for BTC last night allowed for ETH Bulls to breakout to higher highs.
ETHBTC was at key weekly support and fueled the move higher.
LTCUSD bulls also showed up, but still lagging behind with...
BTC Bulls have seen some great 5 min oversold bounces for some flips.
We saw higher highs last night but only by about $150.
This shows us bull momentum is slowing a bit.
If we lose the 4 hour higher lows we will lose EMA 12 4 hour support with it.
A clue will be weaker 5 min oversold bounces and we will eventually see hourly oversold conditions, which will be...
Break imminent this morning from a range that has been tightening for the last dozen+ Hours.
With a bear break, the 4 hour uptrend will be in jeopardy and daily consolidation will be underway.
With a bull break, there is limited resistance back to the top of this bull move just under $7,600.
Personally remaining patient while we trade within the $800+ range...
So far only an initial reaction to Binance getting hacked for $40 Million.
Bulls did not even lose the 4 hour uptrend on the bearish reaction.
This speaks considerable amounts as to the resilient strength of the bulls in this market.
We are looking for a 4 hour lower high to be set on this bounce, and for a tightening range to form most of the day.
Bulls marching towards key $6,000 resistances after very healthy daily consolidation.
If we break the current lows of hourly consolidation, we will look to this 4 hour chart to look for a higher low.
All eyes set on the key $6,000 zone where many traders expect a rejection.
If we see a move over it by a couple hundred dollars I would expect FOMO to kick in to...
BTC has been a bit choppy on the 4 hour chart the last 2 days, but when zoomed out it is smooth and clear on the daily.
We are looking for a daily higher low and it would be ideal for bulls if it held EMA12 support.
Bulls have lots of space to work with on the daily and we will only see a red flag with high bear volume and a break of EMA supports.
Bulls in full control breaking to higher highs and heading right to the zone everyone is watching in the $6,000s.
Every time we head to higher highs, some bears waiting for a new low of year are converted.
Every time we head to higher highs, the odds shift a bit more to favor the bottom being in.
ETH and LTC have clearly formed weekly higher lows, while BTC has...
Further showing the bulls have digested the Bitfinex move, we have broken the $5,295 top of the bounce which was a key level for me as far as "proving it" goes.
Note things can still come up that are negative in this story but for now the bulls are back to having their sights on recent highs.
We just saw a 4 hour inside bar break bearish, meaning a higher low...
BTC bulls have impressively defended the pushes down to support, and this morning we are testing resistance.
Bulls need to get over 4 hour EMA resistance to be looking up at the tops of the bounce reactions.
During the last few days LTC and ETH had shown clear greater weakness than BTC, but yesterday that shifted.
LTC bulls have shown up in a big way as daily...
BTC Still trading sideways in reaction to the bearish Bitfinex news.
We have multiple daily inside bars breaking bearish on the daily but a lack of follow through so far.
We also have 4 hour EMA12 resistance as a guide keeping the price contained.
It is still impressive at this point that the bulls are holding above $5k on the back of some of the more bearish...
BTC had a very laggard reaction to the bearish Bitfinex news yesterday and I must be honest the carnage is better than I would have anticipated.
If the Bitcoin bulls can come out of this FUD holding $5k it will be a significant statement as to the resiliency of the bulls.
We have not even started weekly consolidation yet, we would have to break $4,900 to see it....
BTC bulls are starting their bounce attempt on the 4 hour time frame, which is keeping daily inside bars intact.
Bulls are still in control of the daily chart as long as EMA12 is support, which will be tested if we see in inside bar bear break.
If bulls control the morning we will likely have to wait until tomorrow for these ranges to break.
Hourly equilibrium highlighted in the video last night broke bull and forced some shorts to cover with bull buying to new levels.
The support/resistance levels listed here are from the hourly time frame.
Bulls just looking for a 4 hour higher low, and EMA 12 support.
It is fine to not be comfortable bullish but do not fight the trend! People were looking for a...
We have now seen two instances in the past couple days with a bear break of the 4 hour uptrend and no bear follow through to confirm a downtrend.
The daily chart for BTC has the psychology of a cup and handle pattern with the inability to break resistance and current bull flag.
My visual guide on the daily remains EMA12 support which will have to be lost as...