BTC bulls ended the week with strength, and we are currently seeing healthy consolidation. We are watching EMA12 support on the 4 hour for a potential higher low. RSI levels are cooling off and resetting as we continue to see shorts cover. The size of the pullback at this point makes a 4 hour equilibrium the most likely setup into tomorrow. Continuing to keep...
BTC Bulls have had some momentum the last few days, but is currently seeing a bearish reversal daily candle. If the 4 hour uptrend is lost, we will look for a daily higher low to form. The current 4 hour consolidation is healthy so we are not likely to lose the uptrend over the next 12 hours. I will be interested in the bulls if we can see a break of daily...
More good news on the BTC front with South Korea opening up banks to work with crypto legally, but we continue to see no reaction to news events as we did for many months before we got into the tightening range. We are currently forming another hourly channel very similar to the one we just came from, which obviously resulted in the bear break. The burden of...
We are currently seeing a weak oversold bounce from the bulls on declining volume. The bulls did not make it to 4 hour EMA resistance before topping out. Watching for a 4 hour higher low to form and give us a tightening range into tomorrow. Bears have complete control as long as hourly and 4 hour EMAs remain resistance. Bears are using 4 hour lower highs for...
No use in posting the same chart over and over : )
We have now been in this channel for over 6 days. It is a 2% range and things are very contained. We have not seen BTC this contained and tight in a long time. Volume continues to drop off, and when the break occurs we will see a volume spike associated with it. Whenever this weekly chart clearly breaks with follow through, this $6,000 level will either be a...
BTC consolidating and trying to hold the low of the initial pullback after the Tether consolidation. I always try and find the clearest setup time frame and keep it simple on the day. For today, doing this I look at the hourly EMA resistance rejections the last dozen hours, and then see the 4 hour EMA resistance as well. So I say to myself "The bears are in...
BTC is still trading fairly sideways as we watch for the daily inside bar to break. EMA 12 support has been holding since the wildness 2 days ago and is currently being tested again this morning. Yesterday on coinbasepro there was some wild bot battle action with high volume, if you zoom in you can see it. Unusual for us to see this much volume on coinbasepro...
BTC bulls are slowly climbing a bit after the Tether situation has settled down. We are watching arbitrage slowly bring exchanges back in line with each other though there are still some discrepancies. I entered an initial position with the break of the hourly equilibrium from yesterday at $6,425 and will use the 4 hour higher lows as my stop. Daily inside bar...
Okay. Deep breaths. It is my understanding, that the fear in USDT capitulated with a race to the exit. To exit USDT people were buying crypto, and moving it off exchange. The buying of crypto led to huge surges in crypto prices on USDT exchanges. The selling of the moved crypto funds back into USD is leading to consolidation. I currently am charting USD and...
BTC trading mostly sideways on this bounce while the EMAs drop. the the past this kind of setup is almost as if the bears just wait for EMA resistance to make their next move. We are not close to making back the dump, and the bears are still comfortable. Lose the hourly higher low pattern and it will be the first signal the bears are back in control to head to...
BTC yesterday as highlighted in the video had the bears very comfortable with a worst case scenario of a 4 hour equilibrium. The bears came out on top and dropped the price to lower lows, leading to a dump and break of supports. We are now looking for a daily support level to form, but we have to continue to keep in mind that the bears have favor in this setup....
BTC Bulls need to show up this morning to set a higher low on the 4 hour chart after a handful of low volume healthy consolidation candles overnight. We are looking for a higher low and possible 4 hour equilibrium if the bull move is significant enough. Things are still very slow in the space as there was a lack of follow through on the bull move yesterday....
The daily chart continues to tighten on low volume as we know a break is imminent early this week. The bulls are trying to form a daily higher low, and a break of $6,585 would confirm our daily higher low is set. Note all short term time frames lower than the daily are a bit choppy, though the 4 hour can give us a bit more clarity for...
We are still seeing the bulls grind EMA 4 hour support, but they have to break the lower highs to see continuation and shift momentum. The bears continue to hold the upper paw as long as the lower highs remain. The daily chart continues to tighten and this weekend it will be worth watching other alt coins in daily equilibriums to see if we have any initial...
BTC saw a pump last night that only lasted about 10 minutes in terms of the significant part of the move. Since then we have consolidated for 9 hours giving some of the move back. This is still healthy consolidation on the 4 hour and even a potential bull flag. Bulls are trying to hold the back test of 4 hour EMA supports. We are still in a 4 hour lower high...
We saw a break of daily support last night, which has shifted the daily momentum. The bulls are pleased there was not any significant follow through on the break, but it is clear the bulls are struggling a bit. From here on most coins the bears have control as long as the 4 hour chart is setting lower highs. Step 1 is to change the 4 hour trend. We are fading...
BTC continues to tighten in the daily equilibrium as both bulls and bears remain patient. With a bull break we look to $7k and the weekly lower high of $7,400. With a bear break $6,000 should be tested. We are looking for a break either today or tomorrow and this morning the bears are starting with a bit of momentum. Multiple tops on the 4 hour show a rejection...