Slow bounce after the dump is trying to play out and you can just watch 1 time frame at a time with a sluggish EMA resistance test. First it was the 5 min, then 15 min, now we are on to the hourly. This is an example of sideways trading while hourly EMA resistances drop down, as opposed to bouncing back to those levels. This kind of "bounce" is becoming well...
I have been surprised by the resiliency of the bulls 2 of the last 3 mornings waking up, as 4 hour supports are not breaking. This is resulting in sideways daily consolidation, looking for weekend continuation. Watching GBTC for some potential clues today. ETHUSD is a potential bull flag on the daily, and we have not seen much profit taking at all in the space....
Very healthy low volume consolidation last night to set a 4 hour higher low of consolidation. BTC, ETH, LTC gave nice entries on 5 and 15 min oversold conditions. LTC and EOS are two names that have already seen clear continuation bull breaks, making them leaders. The question now is, do BTC and ETH see 4 hour continuation and follow, or are we set for a 4 hour...
Surprising lack of any real pullback overnight as we have mostly traded sideways. If we keep these two highlighted supports, bulls keep full control today. Lose these supports and we will zoom out to the 4 hour chart to look for the higher low and EMA 12 support. If we see continuation today to $4,000, the odds that the bulls are going to break to a weekly...
After the big bull day, we have not see any sign of convincing bulls since. We have consolidated for 5 days now and the attempt yesterday to bounce off EMA daily support was crushed back down. This is not a convincing bull move unless we see another leg up over $3,711, which will need to happen by this weekend. If it does not, we will continue to set lower...
BTC rejecting from downtrend resistance in the falling wedge, as well as daily EMA resistance. We are now back to testing the low of the dump, which lines up with the down trending support of this pattern. The bears still have complete control. In the video yesterday I highlighted some decent bull volume the last couple days that had caught my attention, and...
BTC is tight with a couple daily inside bars in a row. It is a bit of a choppy picture over the last week, on this weak bounce attempt. Currently watching a potential descending wedge on the daily, that would have to see a high volume daily candle for a bull break. We would have to see the most significant bull day in weeks if we were to see it follow through...
BTC is still in a weak bounce pattern, with daily EMA resistance. We have tests of our limited support incoming, as the bears continue to keep full control as long as daily EMA levels are resistance. We had a bull break on the 4 hour chart 2 days ago that had 0 follow through, and ended up breaking 4H supports. Names like LTC, TRX, BNB are trading in a more...
Bulls have established a higher low, and are trying to change the 4 hour and daily trends for the bulls. Keep daily EMA resistance in mind as well, which is sitting just above price level resistance, and slightly dropping daily. Nice defense by the bulls, the question is can they go on offense and get over daily EMA resistances. A weekly higher low will be set...
The 4 hour trend has changed with a higher low and higher high, but it was right into EMA resistance. The last 2 candles are currently not getting much follow through for bulls as we reject from EMA 12. If we are unable to turn it into support, we will have a daily inside bar to watch tomorrow. If the bulls are able to get over resistance, we zoom out to the...
The "zoom out" game serves well again, as the hourly bounce got some follow through we zoom out to the 4 hour and realize just a lower high was likely. After setting the lower high we faded back and got the new low on this consolidation. We remain in an area with a lack of support, just the lowest price we have seen $3,129. Bears continue to have full control...
Loss of supports after multiple daily rejections from EMA resistance. We are following through with the bear breaks from a couple weeks ago, after lots of sideways trading. There is a lack of support in this range for most names, as we look down to the lows. Names like ETH are getting hit much harder than BTC the last 12+ hours. short term oversold bounces look...
Bear break of the 4 hour higher low, but bulls attempting to buy the dip. We are remaining in a fairly tight range for the last 2 weeks, but bears keep the upper hand. Some names like LTC are holding up better than BTC, but without favorable correlation we dont expect them to get very far for the bulls. Bulls will have to break the 4 hour lower highs on BTC in...
BTC bulls holding strong after buying the bear break yesterday. Healthy 4 hourly consolidation, but the bulls now must see continuation today. If we break the high of the bull move up to this point, we will be back at daily EMA resistance. My personal criteria remains that the bulls must break the daily lower highs by breaking $3,766. A red flag for bulls...
This morning we had a break of the triple bottom of support, in a 2 minute flush that then led to bulls buying the dip and defending support. We are still watching 4 hour EMA resistance and lower highs for the bulls to prove they are going on offense to push the price up, rather than just defending support into further slow fading. It is very clear for days now...
We had a daily inside bar break only due to the time change roll over, But the details on the 4 hour show us we are just in one drawn out equilibrium. Possible we stay tight today if we see slow healthy consolidation for another higher low. Watching other major alt coins for potential signals and early indications. For example, if LTC or ETH break bullish...
Tightening ranges on daily inside bars are we look for a daily lower high to be set. With a bear break it will be set and we will have a new resistance level, the top of the bounce. With a bull break we will test daily EMA resistances and be patiently waiting for the lower high to be set. Bulls never got the 4 hour follow through with a higher low and higher...
BTC Bulls saw a break yesterday after days of weakness but have yet to see follow through on the 4 hour with a higher low and higher high. We need to see bulls follow through with this to zoom out to the daily and look for a lower high there. Still back testing and trying to cling on to 4 hour EMA support. As well as closing in on a 4 hour EMA 12 and 26 bull...