Hourly Bull equilibrium breaks. Now we need EMA 12 and 26 as support on the hourly Entered from scaling in, 1/3 position in the low $160s, had orders in the mid to low $150s, and cash waiting as well. Added on the hourly equilibrium bull break, taking some small profit here and letting the trade ride a bit longer. I am taking this strategy due to BTC 4 hour...
BTC Bulls still not seeing a strong bounce. We MUST break bullish from this pattern for some bounce follow through. Bull MACD is ready to go on the hourly, but we STILL have hourly EMA 12 and 26 resistances to get over. 4 hour RSI still 21 and forming an inside bar as the bulls look to prove themselves this morning. I am personally in a partial LTC position and...
ETH is pulling back from just under key resistance, same as LTC and BTC. If we see another red hourly candlestick, we will likely see this hourly equilibrium tighten all morning. RSI levels are reset to the point that we need to be cautious of the possibility of another leg down as well. If all cash, patiently waiting for this pattern to develop is ideal this...
We are currently in an hourly equilibrium with a lower high being set this morning. If we continue to consolidate, we could stay in this range for most of the day. RSI levels have cooled off enough that bear breaks are just as likely as a bull break to me personally. I have been trading LTC on this dump/ bounce and will look to re-enter if we see a bull...
The bounce continues to attempt to play out with a lower high potentially being set this morning. Currently watching hourly inside bars but LTC and ETH have already broken them bearish. The 4 hour RSI has cooled off from oversold and a bear break is possible as well. We could stay in this tightening pattern all day, which means patience if not already in a...
ETH had a double low at $780 and $786 that has broken bearish on the daily, leaving little support below. BTC still a major correlation factor, but ETH has been more bearish for weeks. 4 hour RSI is the most beat up of the big 3 and trying to form a bullish reversal candle now. Watching EMA12 hourly resistance on bounce attempts. I personally would look to play...
After 11 red 4 hour candles in a row, the bulls are finally forming a bullish reversal candle from oversold conditions. Consistent EMA 12 hourly resistance rejections every bounce attempt yesterday. The bulls will have to gain this level as support to see any bounce follow through. Bears have complete control of the current trend though there are opportunities...
With many failed oversold bounce attempts yesterday, the bulls are struggling to gain any traction. The follow through on bounces is not there even when we do see a higher low and higher high. 4 hour RSI got right down to 30, and the hourly RSI has been in the 20s often the last 24 hours. Bulls will not see anything more than a quick flip until EMA 12 on the...
ETH bears making it easy as we have now been in a lower high and lower low pattern for days. The last little double top yesterday was a "top fishing" opportunity for bears that would exit if the lower highs break. BTC rejecting from the bounce high and pulling back is adding to the downward pressure as 4 hour lower highs and lows continue. We will look for a...
Correlation to BTC and the rejection of BTC from the bounce high is leading to a bear break on LTC. $200 is the next must hold level and you can see on the chart the spike in volume we were looking for, to associate with the break. The $200 level can keep the bulls in the fight but the % odds will shift to favor the bears even more if it were to break. Watching...
The bears are back in full force after the bulls fell about $130 shy of $11,775 top of the bounce resistance. The first indication that "Things had changed" was when the 15 min RSI did not bounce right off 30 as it had done a half dozen times in as many days. The RSI lingered under 15 min which showed us sentiment was shifting. Now with 15 min and hourly RSI...
ETH bulls have been lagging for what feels like weeks at this point, and comparing the 4 hour charts of the big 3 it is clear to see. We are currently the only name still in a 4 hour downtrend, though bulls are on the verge of breaking this resistance. The ETHBTC daily chart is right on the verge of oversold and something to keep an eye on. The daily chart has...
The daily chart continues to tighten, with the declining volume a common indication of this pattern. We will look for a volume spike when we get the break from the range. Bulls want to see a break of the daily lower high $217.20 coincide with BTC breaking $11,775 for bullish correlation and momentum. A break of the 4 hour higher lows will not ruin the daily...
Bulls are in control of the 4 hour chart as long as $11,044 support holds, highlighted in the live video yesterday. Currently trying to form a 4 hour bull flag for continuation to key resistance, the top of the bounce at this point. A break of $11,775 any time in the next 24 hours will be a sigh of relief for the bulls. 15 min RSI hitting just above or below 30...
Daily inside bar currently forming in the middle of a clear equilibrium pattern. LTC has been a laggard to BTC lead bull the last few days as the Litepay momentum has worn off and the price settles in to its range. We will be looking for a break of this daily equilibrium and a bear break of $200 would be signal #1 of the bears gaining control on the daily. If...
After 3, 4 hour inside bars have broken bearish, we are now in consolidation again. The bulls are much weaker than BTC as on this chart, BTC has already broken the highest drawn resistance line. The 4 hour ETHBTC chart is trying to see an oversold bounce, but that may mean that ETH just pulls back less than BTC on this consolidation. ETH bulls will need some...
The 4 hour inside bar bear break is the indication of consolidation. Ideal for the bulls would be a bull flag before continuation. Patient for at least the 15 min chart to begin forming higher lows and higher highs to show the first signs of the shift back to bull momentum. The only red flag for the bulls would be a significant pullback on the 4 hour, then a...
ETH has not broke a resistance level (at $873) that BTC bulls already have. This has BTC breaking hourly lower highs, but ETH has not done so yet. Bulls will need a 4 hour higher low and higher high to be convincing that the bulls are taking back over momentum and headed to test the recent high on the daily. We will look for this higher low of consolidation to...