After a big day yesterday, we are seeing healthy consolidation cooling off RSI levels and allowing EMA supports to catch up. Note the 4 hour RSI was one of the highest points in history in the 90s after we saw the last leg up last night. This is very notable as even at all time highs we did not see the RSI do that. we will now look for a base of support and...
Very healthy consolidation as we look to EMA 4 hour supports if we see further pullback. Only red flags will be increased bear volume. This setup is ALL about BTC and clear $6,800 resistances, so attention should be there just as much as ETH. When bulls show up for the resistance test it will be fast and out of nowhere. Expecting a test sometime within the next...
Slow and steady pull back, no red flags of bear volume, EMA support on the hourly being tested. Even if we consolidate like this for the next day or two the bulls are still very close to resistance and bulls can make their move any minute. Lots of bulls are looking to add on consolidation just based on our group alone. EMA 4 hour support if we pull back to...
Bulls have some nice momentum to start the morning after a 4 hour bull flag is confirmed. Bulls have short term momentum as long as the 4 hour uptrend is intact. If we lose the 4 hour trend, we look for our daily lower high, and equilibrium to form. 4 hour RSI levels for ETH and BTC make it unlikely bulls are able to just head up and break the daily lower highs,...
BTC Bulls confirming a 4 hour bulls flag and hitting the $6,500s target where we were visually looking for a daily lower high to form. It is still a possibility to confirm the drawn bullish reversal inverted head and shoulders, but it is not the likely scenario in my opinion. The reason for this is because the 4 hour RSI is already 70, and we still need 5% to...
ETH bulls are following the BTC lead with a bounce and attempt at a daily higher low to stay in a tightening range. The 4 hour chart needs to give us a clear higher low and higher high to be confident the daily support has been set. A higher low and higher high will also get us over EMA resistance on the 4 hour currently stiffing the bounce. It is important for...
BTC had a bear break to lower lows confirming another bear flag but with 4 hour RSI in the low 20s, bulls bought the dip for a solid bounce. We are looking for a daily higher low and equilibrium to form, and with a higher low and higher high on the 4 hour, we will be confident it has been set. The current consolidation on the 4 hour is a potential bull flag, but...
ETH has more cushion because the last bounce was more significant. This means while BTC is dropping to lower lows, ETH has yet to break the bottom of this dump yet. Momentum still favors the odds to break this level until we see BTC make some kind of move that shows bulls buying the dip. ETH Bulls need to be cautious as we are much close to the must hold daily...
Not surprising to see another leg down as the last bounce attempt rejected 5 times from the top of the bounce. The bounce just cooled off hourly and 4 hour RSI to give space for further downside. EMA resistance on the 4 hour will be key for the bulls to look to shift momentum back in their favor. Scouting for a daily higher low to form and give us a tightening...
Battle for EMA hourly resistance for ETH and BTC this morning. Get over these levels and we will zoom out to 4 hour EMA resistance which are closer to ETH than BTC currently. Very weak bounce at this point and the bulls will have to grind higher all day. Note hourly and 4 hour RSI has cooled off enough to potentially allow for another leg down. We have to see...
Grinding hourly EMA resistance and trying to see the first bounce in a long time. Bulls are building a base of support but there is little conviction for any bounce follow through. RSI on the hourly and 4 hour have cooled off overnight which does open up the potential of another leg down. If bulls get over hourly EMA resistance, we zoom out to the 4 hour and...
ETH is dumping harder than BTC this morning as the sector pulls back after one last $6,800 rejection. 4 hour RSI is oversold and hourly RSI is under 20 as we see an attempt at an oversold bounce this morning. Hourly EMA resistance is an area shorts are waiting to enter or re-enter. See BTC analysis for the daily pattern that MUST break bullish for any kind of...
BTC had one last push for the bulls yesterday just after the video posted, that lasted all of about 4 minutes before a clear rejection for the 6th time in the last 2 weeks from the low $6,800s and a complete turn around to a break of 4 hour support. This led to a very bearish overnight dump to oversold conditions on most time frames. We are currently still...
Healthy consolidation overnight with no red flags as the bulls for BTC and ETH both test EMA 4 hour support. 4 hour inside bar bear break was a signal further consolidation was coming. Bulls need to change the trend back to the bulls on the hourly for our 4 hour support to be set. Bulls still need to clearly get over daily EMA resistance for bulls to be...
Healthy consolidation since the last bull break, as the bulls look for their new base of support. Bulls will have to break the clear 4 hour lower highs to be convinced the new support has been set. Bulls are also holding EMA daily support and looking to maintain through a bull cross. There has been a bull spike the last couple days just after 8 AM Eastern, but...
The double bottom at support is giving shape to a descending triangle pattern. Lower highs and a horizontal line of support are the trademarks of this pattern. If we see just another lower high on this small bounce attempt, the range will continue to tighten. We are on the verge of a bearish cross of 4 hour EMA 12 and 26. Essentially bears still have short...
Bulls are holding 4 hour support but also have a short term double top of resistance to watch. Clear range of support and resistance short term to be watching. Daily consolidation at this point is very healthy and bears would need a clear leg down to gain short term control fully. We have seen a couple pumps at 9:15 AM Eastern (less than 2 hours). Not enough to...
Tons of fake outs and wicks on BTC. Not as many on ETH and other names. Very clear pattern to be watching with no fake outs at this point. Looking for a break of this 4 hour tightening range sometime today to indicate continuation of the bounce or daily consolidation. Traders being patient and waiting for breaks if not already in positions, but must be cautious...