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...
We are watching the wide range between the Bitmex pump and the subsequent dump and likely to stay within it for a few days. Bulls have the hourly uptrend in their favor but we will need to see sustained 4 hour higher lows to climb to the recent high. Bulls need to make it over $7,000 to form a solid weekly equilibrium which we will look for a break of towards...
We are seeing lower highs and lower lows on the 4 hour chart as we approach the low of the dump for ETH. At this point the bears are very comfortable and have all the momentum. The bulls have to change the 4 hour trend, and have to break the high of this bounce so far for it to do anything for the reversal. Things are not looking good for the bulls right now...
So 9 ETFs were rejected, and the market did not dump as we anticipated it would not. At this point the bears still have control unless the bulls can set a 4 hour higher low and higher high, to bring the price back to the $6,700 range. While the bears are not getting the dump they wanted, they are also not seeing much pressure to be forced to cover. At this...
Very clearly, we are seeing the ETHBTC chart tank again as BTC heads to daily higher highs and ETH does not even come close. We are likely to stay within this daily tightening range for a while as it is wide, and the bulls are not doing much at all. I personally would consider this a no trade zone, and wait for a clear break which will have volume and volatility...
BTC saw a bull break last night where multiple 4 hour resistances were all taken out at the same time as speculated in the video. It was a very brief move with little follow through however, as we have been consolidating the entire night since then. The bulls are trying to hold the previous double top of resistance as support, but is on the verge of losing it....
BTC bulls have an impressive showing buying the dip and forming the daily higher low while keeping within striking distance of the recent daily lower high. ETH bulls have a lot more work to do to get into the same positioning after significant pullback the last couple days. We are likely to stay within the current daily range for a few days at least, and the...
As shorts continue to climb the bulls bought the bear break last night with some strength. We are seeing a solid bounce and a 4 hour lower high being set, keeping the downtrend intact, but the size of the bounce and the fact that the daily chart is already attempting a higher low is a good sign for the bulls. We are watching what consolidation looks like this...
Very similar setup to BTC on the 4 hour but a bit different which has led to both LTC and ETH breaking their daily inside bar bearish already. This increases the odds a bit that BTC will end up with a bear break but we are still watching close as a bull break in BTC could negate these bear breaks. The daily charts will need to form a higher low and break the top...
BTC 4 hour chart continues to tighten to the point where we know a break is coming. The daily inside bars will give us a guide on direction, but we need to see follow through and a volume spike on the break as well. Bears are still very comfortable and not going to have to cover anything without a bull break of resistance levels. This is the kind of day when...
ETH broke the 4 hour equilibrium bullish with BTC, but did not have the momentum to clear the next hurdle of resistance as well. They now both have double tops to be watching for the rest of the day. I personally dont like entries on consolidation right now due to the upper wick from daily EMA resistance on BTC but if I were a bull and had to make an entry it...
Currently very patient and waiting for the BTC bulls to prove strength by breaking the double top of resistance. We just broke a tightening 4 hour pattern bullish, but were unable to see the continuation needed to enter another leg up. The bears are still in control as long as we are rejecting from daily EMA resistance. The bulls can still form a 4 hour higher...
There is very little bull volume for BTC and ETH this morning as we see a bounce that is likely to set 4 hour lower highs for both names. Watching for the potential 4 hour equilibrium setup today that may result in a daily inside bar. Bears are waiting for an entry on the lower high and to use the previous high in the $305s as a stop level. I personally am back...
BTC saw a bull break yesterday but the consolidation was more significant than bulls would like to see. Because the pullback was significant, the most likely scenario is a bounce and lower high set on the 4 hour. There is also no bull volume whatsoever behind the 4 hour bounce. We will watch for this 4 hour equilibrium to give us direction today, and bears are...
Healthy low volume consolidation as the bulls look to form a 4 hour higher low. From there bulls will need confirmation of the trend change with a higher high. BTC is potentially facing a short squeeze which would be a big boost to ETH daily oversold bounce. I exited my position from 2 days ago in the $280s and will consider some bids to reload on this...
Things are getting INTERESTING, mostly due to the continual increasing shorts. They are opening the door to get squeezed and bulls can see this clearly. We still do have 4 hour lower highs and in order to see a squeeze we are going to need to see a 4300-500 move in 1 hour. Bulls still must remain protective trading counter trend, and this 4 hour consolidation...
ETH last night was at some of the most extreme oversold conditions we have seen in 14+ months. Hourly RSI single digits, 4 hour RSI 12, Daily RSI 17. We clearly have an influx of supply as ICO projects are dumping and adding to the panic. The bears have complete control but I personally would not dare enter a short down at these levels. There will be a sweet...