Dump to lower lows last night that has not resulted in much of a bounce at this point. Bulls are battling hourly EMA resistance, and if we see another leg up on the bounce we will be looking at 4 hour EMA 12 resistance. Everyone is looking for potential capitulation but these lazy bounces are an indication that is not the case yet. Better % opportunity on...
I do not often draw trend lines but the current channel is being respected very well as the resistance lines up with daily EMA resistance. We saw a bear trap last night with a break of support and instant bull move. The price has quickly made it back to a recent 4 hour lower high of resistance, as well as 4 hour EMA resistance. Bulls looking to form a 4 hour...
2nd video in 3 days where I have given a must hold level for the bulls that we were on the verge of breaking, but the bulls managed to hold. We now have another 4 hour higher low, and a continued tightening range. We will look for a clear break likely tomorrow, and the more upside the bulls can see here to give them space, the longer we can stay in the...
Bulls showed up overnight and have great positioning for today. VERY healthy hourly consolidation after the big move up shows me the bears were caught a bit off guard. Currently a low volume 4 hour inside bar, if we break it bearish that means we stay in the 4 hour Equilibrium longer. Hourly EMA levels are support and a bull break will result in a bullish 4...
We are clearly seeing "Defense bots" where the price hits a certain level in the $3,500s and the market buy bots kick in. This has happened 3 times now and the bounces are smaller every time. We are fading back towards support and being driven down by 4 hour EMA 12 resistance. Bulls have 0 momentum unless we get over these resistances. The bears are on offense...
Healthy low volume consolidation overnight as the bulls attempt a 4 hour higher low and continuation. We will need to see the trend change back to the bulls on the hourly for us to be confident in a 4 hour higher low. Potential it could be a slow day giving us a daily inside bar. No red flags for bulls on the bounce yet at this point but bulls still need to be...
BTC continues to see small bounces, leading to lower highs and rejections from 4 hour EMA resistances. The bulls held the low of the dump last night, though some exchanges like Bitfinex did not. The bears are extremely comfortable on the 4 hour time frame and have no reason to cover... yet we have seen 3 days of shorts covering. This leads to the possibility of...
What started as a potential 4 hour inverse head and shoulders has now formed an extra lower high and shaped up to be a clear equilibrium. Low volume consolidation as the bulls are looking to set another higher low this morning. This has resulted in multiple daily inside bars and tightening ranges as well. We will look for a volume spike and a break today. I...
With 4 hour EMA resistance looming, BTC bulls are looking for a 4 hour higher low and trend change to see the oversold bounce follow through on the daily. 4 hour Bull MACD crosses used to be a good signal earlier in the year for longer term oversold bounces to get some follow through. If we change the trend on the 4 hour chart we will zoom out to the daily and...
The bear break of the weekly pattern has magnified into a significant crash the last few days as we free fall through zones with a lack of support. The bears have complete control and RSI levels are meaningless. Bulls looking to buy need to wait for trend changes on the hourly which we have not seen in the last 2 days. Remember... IT CAN ALWAYS GO LOWER. Burn...
We had a bull move that was quickly smashed down by the bears, proving that without extreme oversold conditions, or a change in the daily/weekly trend, the bulls have little going for them. Make rules and stick to them "I will not trade crypto bullish until the daily trend changes in their favor" and Stick to it! Personally I believe this market right now is...
BTC is still in a 4 hour lower high pattern, but this current consolidation is healthy as the bulls look for a higher low to be established compared to the low of the dump. If we see a break of these two resistances, there is a lack of immediate resistance nearby and we will look for a daily lower high to then be set on the bounce. Potential for a daily inside...
BTC has broken bearish below a weekly support of $6,200 to see the lowest price in a month. The bears continue to have complete control and anything on the daily under $6,383 is a lower high. We will continue to be cautious as bulls, waiting for trend changes to eliminate lots of risk while giving up some reward. There are still Tether uncertainties in the air,...
We have a lower high and lower low now on the daily chart, with key weekly support $6,200. If the bulls can change the 4 hour trend we will be looking for a daily equilibrium to form. Break $6,200 and we are looking back towards $6,000 with the weekly chart shifting back towards bears. Bulls have been unable to close a 4 hour candle over EMA26 resistance since...
BTC bulls showed up to defend support after we broke to a lower low from the daily inside bar. The move broke the 4 hour lower highs, and now the bulls have their sights set on a higher low and higher high continuation of the attempted trend change. The daily chart is less clear to me after the bear break of support and upper wick currently on today's candle, so...
Significant move from the bears the last 2 days means that when we do have a daily higher low, the most likely scenario is then a lower high and daily equilibrium. We are rejecting from weekly EMA4 resistance again, and bears are trying to see increased volume today compared to yesterday showing further weakness. BCH is holding up the best while other major...
We currently are consolidating in a healthy way and testing hourly EMA support. When we break a support level on a certain time frame and do not get any follow through for the bears (after a solid move up for bulls) I zoom out and look for a bull flag on a longer term time frame. In this instance we saw an hourly lower high and lower low that currently has no...
BTC bulls made their move last night back to test the recent high of the bull break, but they were clearly rejected with a solid pullback that has yet to find a support level. The bulls are hoping the hourly uptrend can hold with a higher low here to give the bulls another shot. If we break the low of consolidation so far, we will look at more significant daily...