BTC is on the verge of breaking to a daily higher high on the bounce if the bulls can see a push this morning. If we reject from here the daily will form a lower high and we will see a tightening pattern within the highlighted support and resistance lines. Important for the bulls to show up or we could stay in this range into tomorrow. Healthy consolidation...
Note the low of this consolidation does not HAVE to hold, that would just be ideal for bulls. Keep an eye on the ETHBTC chart as we are looking for some more short term clarity on who the leader is. There have been two instances in the last 24 hours where ETH has shown bulls to be a bit more explosive than BTC. Patient traders are waiting for more clarity on...
Currently watching healthy consolidation after the bull break yesterday morning. The 4 hour time frame is the most clear for watching this set up in my opinion. Bulls are within striking distance of the daily resistance to break for continuation and higher highs. If we break the low of this current consolidation, it will just prolong the amount of time in the 4...
BTC and LTC are being driven down by EMA 12 hourly resistance, and we will have to see a higher low and higher high for the bulls to have any hope of shifting momentum and forming a lower wick on the daily candle. Daily chart has pulled back more than 50% from the high of the bounce, same as BTC. We are back to the game of looking for a trend change on the...
ETH has multiple hourly inside bars about to break to determine short term direction. The pullback from the high of the bounce is still less than 50% while BTC and LTC are greater than 50% BTC is struggling with EMA 12 while ETH is showing relative strength and is 1 level up to EMA 26. We will still need BTC to change the hourly trend for the ETH bulls to give...
BTC has pulled back more than the bulls would like, giving back over 50% of the bounce. We continue with hourly lower highs and lower lows as long as EMA 12 is resistance driving the price down. Bulls must see an hourly higher low and higher highs to shift momentum back to bulls. Goal for bulls is to form a lower wick on the daily candle today, showing bulls...
We are now consolidation and as I write this, LTC playing role of lead bear at the low of consolidation while BTC and ETH have bounced from the lows a bit. We are looking for a daily higher low and the bulls best case is a bull flag that would need just a couple days of healthy consolidation. If we pull back more than $117 we will see best case for bulls turn...
ETH is currently holding up a bit better than BTC as the daily higher low pattern is still intact, where it has already been lost for BTC. We are clearly seeing consolidation and looking for a higher low on the daily for BTC, ETH has not given such clear signals that we are done this bullish move yet. Two scenarios are BTC forms a daily bull flag and looks for...
After 5 days in a row with higher lows on the bounce keeping the bulls in full control, that pattern has broken. This is not the daily consolidation we were looking for where a higher low is needed and a higher high to change the trend. So far the consolidation is healthy, increased bear volume with no lower wicks would be a red flag. Ideal scenario is for a...
While BTC and ETH continue higher lows and higher highs on the 4 hour chart over the past couple days, LTC continues to consolidate in a tightening range forming daily inside bars. We should see a break sometime in the next 24 hours from this range to indicate short term direction. It is also notable that LTC hit the daily EMA 12 resistance first and this could...
Bulls bought the dip last night and are back to hitting resistances in the upper $580s. Bulls trying to see another 4 hour higher high with the help of BTC breaking the tight 4 hour pattern as well. Bulls held EMA 4 hour support on the back test which is a good sign, but EMA12 daily resistance is being tested again today. We are cautious and looking for signs...
We have close to a double top, and higher lows continuing on the 4 hour chart. The bulls are still butting their heads against EMA 12 daily resistance. When we lose 4 hour higher lows, that is when we need the daily higher low to form vs. $7,058. Bulls held EMA support on the 4 hour time frame on consolidation which is a good sign, we just need a more...
Same setup as ETH while BTC has a 4 hour higher high. Forming a 4 hour inside bar and a daily inside bar in the current tight range. Bulls will need to break the high of this bounce attempt to catch up to BTC, but we are already hitting EMA 12 daily resistance. LTC continues to be the weakest of the 3 in my opinion, though not by much they are all in the same...
ETH has not formed a 4 hour higher low and higher high yet like BTC has. If we continue to pull back we will have a clear 4 hour equilibrium to watch for the rest of the day. Bulls have more work to do to see the 12 EMA cross 26 bullish like it currently is on BTC. Daily EMA resistance will be next if the bulls can clear the top of this bounce in the mid $580s....
BTC bulls have continuation on the bounce after setting a new support level and continuing the bounce. We now look to daily EMA 12 resistance to be tested, and the bulls MUST keep the 4 hour higher lows. EMA 12 is crossing 26 bullish on the 4 hour chart, which has not happened since the mid $8,000s. Posted on twitter yesterday about the dump to 15 min RSI 21...
LTC very similar to BTC on the 4 hour, keeping control of the bounce and holding EMA 12 and 26 support looking for the bull cross of these EMAs. We are not forming an inside bar on the 4 hour like BTC and ETH as the range has already tightened and broken. The price is currently close to the high of the bounce at this point. We will be looking for any clue if one...
ETH currently forming a 4 hour inside bar, trying to keep EMA support. We have a more clear higher low on the 4 hour than BTC so far, and bulls ideally want to hold this level as if it is lost so will be EMA support. We have a wide range between support and resistance at the top of this bull move, which we could trade within all day. Daily needs a solid green...
Bulls still keeping full control of the bounce at this point with EMA 12 support after it was rejecting the price on the way down. Currently forming a 4 hour inside bar to be watching this morning. Volume dropping off. We are watching EMA 12 resistance on the daily, and the need for a higher low and higher high to be confident our weekly higher low is set....