Litepay hype has worn off and we are seeing more prolonged consolidation comparatively because of it. The 4 hour chart is forming a low bull volume, lower high, and will have to form higher lows and higher highs to shift momentum back in favor of the bulls. The daily chart has been consolidating 2 days longer than BTC has. I personally will be focusing on BTC...
Solid night for the bulls seeing a few hundred dollar bounce from the current consolidation low. Because we previously lost the 4 hour higher lows, we will be looking for a lower high to be set on this move. How the bulls/bears respond from there will be very telling. If we see 4 hour consolidation, a higher low, and then continuation back to $11,044 it will...
LTC is a step ahead of ETH and BTC on the daily consolidation. This is the pattern we are looking to form on the other names with a lower high being set and consolidation to find a higher low on the daily. Potential for LTC to give us the first break as it has been consolidating 2 days ahead of the others. The break of daily equilibriums will give the most...
Loss of the 4 hour higher lows is pretty contained and not leading to a dump at this point, but the momentum has shifted to the bears with this break. Looking for a daily tightening pattern with our lower high being set. Daily bulls will be looking for a higher low as we head into the weekend. Unless we see increasing bear volume, we will be looking for a...
BTC bulls still holding 4 hour higher low on GDAX but it has been lost on Bitfinex. This increases the chances that GDAX will see a laggard bear break and follow, as ETH has already lost its higher low as well. Losing this support will increase odds of a daily equilibrium, with a daily lower high being set. Anticipating ranges to tighten on the daily as we...
Looking at the daily and 4 hour charts, the setup for the big 3 is very similar but it is as if LTC broke bullish first. The daily higher low and bounce is more developed, and the 4 hour EMA cross of 12 and 26 period occurred first. Seeing healthy consolidation but there will be more short term resistances on the hourly for the bulls to break. Looking for the...
Highlighted potential 4 hour cup and handle setup from the video last night saw some follow through with a break correlating to BTC. BTC holding up a bit stronger on the breakout,but we are seeing the 4 hour EMA 12 and 26 cross. Loss of the current hourly consolidation low will be a short term consolidation red flag giving us a lower high and lower low. Bulls...
The 4 hour setup highlighted in the late night video followed through, breaking to higher highs. We also saw a 4 hour cross of EMA 12 and 26, which last occurred at the bottom of the current daily dump low. Bulls holding hourly EMA supports on consolidation as well. Watching for a lower high to be set on the daily, for an equilibrium pattern to form. Bulls in...
ETH has been the laggard bull and lead bear for the last week+ getting to oversold 4 hour RSI while BTC and LTC have not. After playing a bounce last night $835 to $855, patiently waiting for another entry signal. Bottom fishing play for the double bottom would stop out with a break of $817. Bears in control as long as hourly lower highs and lower lows continue....
We are in a pattern of lower highs and lower lows on the 4 hour chart which tells us we are consolidating on the daily. Bulls will have to see hourly higher lows and higher highs first in an attempt to change momentum back to bulls with a bullish reversal candle on the daily. Watching oversold RSI levels for bounce opportunities, but being sure to watch the same...
BTC had bounced off daily and 4 hour support holding the higher lows last night, But after rejecting from $10,900 we are down to lower lows and broke support by a small amount. As long as hourly lower highs and lower lows continue, the bears control the trend of consolidation. We will be looking for a daily higher low to have formed once the hourly shifts back...
The lines on this chart show the lower highs and higher lows of the tightening range forming on ETH. We will see a break within a couple hours and it will dictate momentum for the rest of the day. Watching BTC as a potential leader for this move, and for correlation clues as always. ETH was by far the most beat up name on the dump yesterday with longer term RSI...
Hourly inside bars to watch for LTC this morning. The hourly chart has tightened overnight and will see a clear break within the next few hours. This break will indicate momentum for the rest of the day. We will either be looking towards hourly oversold RSI levels if we drop to lower lows, or we will look for a break of the top of this bounce for some bullish...
BTc Hourly inside bars forming as the bulls are trying to establish a higher low and higher high on the hourly. This would lead to continuation on the bounce from the dump last night, which has not seen much follow through. We are not consolidating on the 4 hour and daily chart, and we will anticipate a higher low to form on the daily. In order for the bears to...
As highlighted in the video yesterday, LTC was in a very tight 4 hour pattern, and when the break occurs we knew all traders would see the bull signals. The volume poured in and our alert system was firing off price shear alerts at the start of the breakout in the mid to upper $220s. Big time follow through for the bulls and now we have some very clear...
Still playing laggard, BTC and LTC continue to higher highs overnight while ETH is stuck in the mud. Still watching the potential 4 hour bearish reversal head and shoulders pattern highlighted in the video yesterday. We would have to see a break of the neckline at $909 for this pattern to be confirmed. Still keeping an eye out for a laggard play with attention...
Higher lows on the 4 hour remain after we broke the double top in a cup and handle formation. The next major daily resistance is $11,700 from the last bounce attempt on the daily chart. The bulls have been extremely impressive ever since we broke $90.90 on the daily for the higher high. There are no signs of weakness and no 4 hour lower highs and lower lows....
Bull break of lower highs, then bear break of higher lows. ETH being tossed like a rag doll amidst the correlations of BTC. Personally have not traded ETH in days or weeks as BTC and LTC have been giving better opportunities. I would not be surprised to see ETH bulls gain favor at some point in the coming week, as we usually see attention shift after a major...