After a daily inside bar bear break, and loss of 4 hour higher lows, we are now seeing daily consolidation on BTC. We are back testing EMA support, and so far the bulls are buying the hourly oversold RSI dip from the support break. We have to be cautious as there is a lack of support in this area. Bulls need to change the hourly trend to be looking for our daily...
After some time on the defense and BTC bulls holding supports, we finally see some offense. Significant bull break on the daily over $6,580 to bring us to the middle of the weekly range. This is going to make the next few weeks VERY interesting. The move from crypto to MJ was very clear last year, and the potential for a clear move back from MJ to crypto may...
This is the range I am watching today for short term action on BTC. The bulls MUST see a break to continue proving themselves as the bears remain comfortable on all longer term time frames. The 4 hour, daily and weekly are all still forming lower highs. With a bear break we will continue to erase that little bounce from yesterday, and we will be right back to...
After the dump yesterday the bounce has not been very impressive for the bulls. It is currently a potential bear flag on the 4 hour and even if the bulls can negate it and see bounce continuation, we still have 4 hour EMA resistance to deal with. The bulls backs are against the wall and the bears are eyeing the 3 key daily and weekly support levels all within...
Bulls have been buying the dips the last couple days but not seeing a lot of follow through on any continuation attempts. This gives us a clear 4 hour equilibrium with a double bottom at 6,411 as well. With a bear break, we will likely have seen our daily lower high which will be a bit disappointing for the bulls not getting to the mid-way point of the weekly...
After the 4 hour equilibrium bull break, we are seeing follow through and a clear hourly uptrend. As long as these hourly higher lows hold, the bulls have full control of the bounce. Lose the hourly higher lows and we zoom out to the 4 hour chart to look for a higher low to form. Bulls need to get back to the $6,700s to get to the middle of the weekly...
BTC bulls broke the daily inside bar bullish, but did not hold up for very long. In the video yesterday I discussed the hourly would show a red flag if the bulls could not keep the uptrend after the bull break. The first red flag was the lack of follow through breaking this level... this means bulls are not setting stop buys and bears are not covering their...
After a very clear dump, taking out all kinds of supports and immediately shifting the sentiment in the crypto markets the bears are in full control. We are seeing a mirror image on the hourly time frame with EMA resistance and a lack of any follow through. To be blunt with the bulls this is a significant blow to the % chance that we see a bull break on the...
Just flipped BTC bullish mid writing this up, scaled in under $7k and scaled out over $7k for a little win to start the day. We are seeing all kinds of stop losses trigger as the initial dump took out 3 of the 4 hour higher lows at once. Hourly RSI plummeted to the teens and 4 hour RSI got right to 31. We are clearly seeing a momentum shift going on while the...
BTC is still in the same pattern highlighted in the video 12+ hours ago. We have made a bit of a bull break and bit of a bear break as well with 0 follow through in either direction. This has kept us tight, knowing that a break is imminent this morning either losing 4 hour higher lows, or breaking $7,340 for continuation. The daily and weekly bulls are looking...
BTC bulls trying for a 4 hour higher low and a break of the lower highs to change the trend and give indication our daily higher low has been set. The bulls still have control and it will be up to bears to rejection the price from $7,128 and see a lower low. Aggressive bulls can enter here and stop out below the currently low of 4 hour consolidation, and...
BTC is seeing a 4 hour lower high and lower low pattern as the bulls try and form a daily higher low. As I have said in the video, I believe our weekly lower high will be marked by a daily higher low... inability to see higher highs (lower high) and then a loss of daily higher lows with a break of support. There are no red flags for the current consolidation...
BTC bulls have done a great job holding up after the breakout over $7,000 but it may be time for healthy consolidation. We established a 4 hour higher low and then rejected from continuation with almost a double top and a big upper wick. If we lose the 4 hour higher low we can still see healthy daily consolidation, and we are watching daily EMA support catching...
The bulls broke on BTC to higher highs and continued tightening weekly equilibrium, which has resulted in ETH breaking the tight 5 day range with a volume spike... BUT it is still crystal clear just how far behind BTC we currently are trading as the bulls are not even close to breaking the high of the initial bounce, which BTC broke many days ago. This tells me...
Note this is a Bitfinex chart unintentional from usual Coinbase. Congrats bulls on the break over the high of the Bitmex spike. We are now in an area without a lot of clear resistance, but we are also looking for a lower high on the weekly to be set in the next week or two. This is a beautiful setup on the weekly. I personally am trading small and cautious and...
ETH has been very tight for the last 5 days staying within the highlighted range as the volume continues to drop off as well. We are looking for a clear break and volume spike either today or tomorrow to see a break of this range. The bears still have full control on the daily, and will have to get over EMA resistance to see any kind of follow through on a bull...
BTC has been forming a 4 hour equilibrium for a day at this point and is likely to see a volume spike and break of this range shortly. We already got a small bull break on coinbase for the bulls but no follow through so far. With a bull break we look to the top of the bitmex move, and with a bear break we look back to $6,400s. People ask why do we consider the...
ETH clearly remains weaker than BTC with the beats still in control of the ETHBTC chart. We are currently essentially forming a handful of 4 hour inside bars in a row, on declining volume. We will see a volume spike and a break in these tightening patterns this morning, but I will not look for much follow through unless BTC volatility picks up as well. I...