BTC broke the $6k mark for lower lows and is in the range of our lowest price since all time highs in the $5,700s. We currently have a bounce that looks like a 4 hour bear flag, cooling off short term RSI levels. The hourly EMA 12 resistance is rejecting the price, keeping the bears in control. Shorts continue to climb anticipating a break of $5,900 today to...
ETH continues a slow grind down with rejections from EMA resistances. Surprising to not see any bull break with the BTC bull break from last night. Bears remain in absolute control with a daily lower high pattern consistent and intact. Bulls are cautious even on a bull break of this pattern, as we are anticipating a BTC daily lower high to set early this week....
BTC bulls broke resistance and confirmed the 4 hour inverse head and shoulders pattern we have been watching for the last couple days. We did not get a ton of follow through but the 15 min RSI was very overbought and the hourly RSI broke 70 on the initial bull reaction. We will now need to keep 4 hour higher lows and higher highs and 4 hour EMA supports for the...
Coinbase went down last night for BTC trading and has still not opened up again, which is going to frustrate lots of bulls who have watched the price drop $300 from the top of the bull move. I was a bit fortunate and exited half of my position when the first 15 min higher low was lost, and the 2nd half is waiting for the daily inside bars to play out. The daily...
Weak bounce attempt on the 4 hour is currently forming another potential bear flag. The volume for the bulls continues to decrease as there is no reason for bulls to get excited nor bears to cover short positions. Daily inside bar potentially forming today and we should see a spike in volume this morning on the hourly to give us an idea who will continue to...
As described in the video, bulls still have a long way to go for a daily bounce to take place. We need to set a clear 4 hour lower high once this bounce tops out, and then consolidate for a healthy higher low. Any increasing bear volume on the hourly, or inability to get over hourly or 4 hour EMA will keep the bears in control. RSI levels are cooling off that...
Bulls crushed after a clear bear entry on the break of the 4 hour equilibrium yesterday. Huge fast profit for bears on that dump and ETH is now looking down at the $360 low which is an important support. The weekly bear flags with follow through were the initial red flags for the bulls and the bear break of the daily equilibrium started the waterfall drop. We...
Bears still have full control as bulls are struggling with 15 min EMA resistance. If we break the lower highs, we zoom out and watch hourly EMA resistance. Best case for the bulls, we still are likely to form a 4 hour lower high on this bounce attempt and continue the pattern of 4 hour lower highs which has been intact since $8,000+. Patient bulls are just...
ETH has been forming a tightening pattern on the 4 hour for 2 days now, much long than BTC. Recognizing this pattern forming and knowing a higher low would be needed was a partial clue for yesterday that BTC was not going to see much follow through to lower lows. Now the entire sector is getting tight and we can look for potential clue if we see ETH break first,...
After dropping down to a lower low yesterday with little follow through, we have a battle to try and establish support. Previous resistance in the low $6,800 range is currently acting as support. Looking for a potential 4 hour lower high to be set this morning and for the range to continue to tighten. We should get to a point where a bull break will clear EMA...
ETH is holding up better than BTC and patiently waiting for a real bounce to get going. ETH bulls want to see the 4 hour lower highs break on BTC so ETH can follow along. Looking for a break of this equilibrium later this evening, but note that a break without clear direction from BTC should be taken with a grain of salt. We must see BTC go in the same direction...
BTC continues to reject from 4 hour EMA resistance, which keeps the bears in control and confident. There is no reason for shorts to cover if bulls cannot get over this resistance. This also ensure we just continue to set lower highs on every bounce attempt. Looking for the potential for a 4 hour equilibrium setting up this morning if the low of the pullback to...
ETH has broken a key support level and confirmed the weekly bear flag we have been eyeing for a few weeks. The good news for bulls is we did not see many stops trigger under this level. There was a solid bounce from the low to the tune of 3%, but BTC keeps just forming 4 hour lower highs. With BTC consolidating, and the sector already sharing a bearish...
BTC keeps seeing weak bounces to cool off RSI levels and allow for another leg down. We must be cautious as the current 4 hour chart can easily be another bear flag. I only just had my bids start filling under $7,300 so with the bounce I pull the remaining bids and drop them down a bit lower. After 6 red days in a row we are looking for a bounce to give a...
ETH continues to be a lead bear in terms of having the bears in control of most time frames. 4 hour this is very clear with lower highs consistently, with bounces that do not even reach EMA resistance. Only hope for the bulls in the short term is a higher low and break of $424.61. We will see some shorts cover when this trend breaks, otherwise there is no...
Yesterday we had a bear trap where we broke to a lower low, and instantly the bulls aggressively bought to get the bounce underway. We rejected from EMA resistance which is recent videos I have suggested as an area bears look for re-entry when RSI cools off. Now the bulls must form a higher low on the 4 hour to either give an equilibrium or try and see bounce...
ETH solid bounce from more extreme RSI levels than BTC. We have also seen less consolidation on this move so the current hourly chart is more favorable to ETH. Bulls are attempting an hourly bull flag to form a higher low and see continuation. Even if accomplished, we will still be looking for a 4 hour lower high to be set. Potential bullish reversal candle on...
BTC is seeing a weak bounce with the hourly rejecting from EMA resistance and the 4 hour RSI still in the mid 20s. Bulls have to form an hourly higher low and see a break through the top of this bounce for continuation. I scaled into two positions last night, 1st avg. $7,550 then I set sell orders upper 7500 to mid 7600 follow by more buy orders in case we break...