BTC GDAX double top over the weekend kept the bulls in the daily tightening pattern. Weekly chart is looking set to give us a 2nd inside bar in a row. We will be looking for a higher low on the daily today or tomorrow, but short term gains for bulls unlikely to be significant until we breakout from this pattern. Up to bulls to prove themselves and shift momentum,...
Compare the daily charts of the big 3, we are all in equilibrium patterns, but: LTC is the closest to a bear break, BTC in the middle, ETH furthest. Even if LTC breaks bearish, if BTC holds in the pattern we must take this break with a grain of salt. Bulls need to see a bounce today to remain in the tightening pattern and give us a higher low on the...
We got the pullback I was hoping for the in the video for the daily pattern to get tighter, and levels more clear. We will now look for a daily higher low to form today, and hourly higher lows and higher highs will mean our daily higher low is likely in. I am still patiently waiting and will play ETH if we get a bull break on the daily as it still shows small...
We got the pullback I was looking for in the daily video yesterday, making the daily equilibrium pattern more clear. Bulls now have to form another higher low on the daily to get us to a "flex point" this weekend. Some bearish news overnight about a potential hack in Japan was a catalyst to help the pullback. Bulls need hourly higher lows and higher highs to be...
We could see the last couple days ETH as been a bit strong than BTC though certainly still correlated. We are looking for the daily lower high to be set, which would have us consolidating today and looking for a 4 hour higher low. We will look for this tightening daily pattern to break this weekend and give clear direction heading into February. The Weiss...
We have been trading around this anticipated equilibrium for days, and it looks like the daily lower high may be in. We will look for the 4 hour chart to form a higher low over the next 24 hours. From there we will have a very tight range expected to break this weekend. Many people are looking to the futures contracts to end tomorrow, and we could see people use...
LTC needs to break the 4 hour resistance from yesterday, but is further away from doing so comparative to BTC and ETH. Loss of hourly higher lows without breaking resistance is a red flag for the bulls. Looking for a move into the middle of the daily equilibrium range before a clear break of the daily pattern this weekend. All BTC analysis is very relative to...
4 Hour resistance to break today is $1,019 to see continuation from the daily higher low that formed. Losing the hourly higher low pattern would be a red flag this morning. Target for the bulls is the $1,050 area on the daily to get back to the middle of the range on the equilibrium pattern. Currently holding a half position and will exit on the loss of the...
Bulls formed a higher low on the 4 hour and saw a bullish MACD cross. If we break to a higher high on the 4 hour we will be back to the middle of the daily equilibrium that is forming. Losing the hourly higher low pattern from here will indicate our lower high on the daily is likely set. If bulls are unable to break the 4 hour resistance highlighted, by the end...
Still correlated to BTC and we have not formed a higher low on the daily yet as anticipated. I say overshadowed due to observations of hundreds of our members trading, and how interest is overwhelmingly on BTC and ETH on this pullback. Patiently waiting for 5, 15 min and hourly oversold RSI levels before scaling into this downtrend. 4 hourly lower highs and...
After positioning ourselves for the overnight bounce with a $1,030 target, the bulls fell just shy of this level. Exiting some position into strength, and then recognizing weakness allowed for a solid profitable trade, but not the daily follow through we were looking for. Bearish 5 and 15 min volume losing the uptrend was the red flag at Midnight for the bulls....
After what begin as a promising bounce yesterday afternoon, the bulls could not hold up overnight and we are back to lower lows on the 4 hour. We positioned ourselves for the potential of a daily higher low and thanks to the strength of the bulls allowed for profit or worst case break even stop losses. At this point hourly and 4 hour RSI are approaching oversold...
All eyes on BTC as we are pretty much a boat with no sails or engine, following the current led by BTC. Only news and increased volume can break this correlation. Scaling back bullish trading the last two days once the hourly uptrend was lost. Looking for a higher low on the daily to potentially be marked by hourly oversold RSI. Be more picky with RSI levels on...
BUT the correlation still stands and we are not likely to see that break at this point. This means ETH bulls are holding up slightly better than BTC, but will still pullback with it. This means BTC will continue to be our gauge of strength, and right now the bears have the upper hand. Not playing any bounces unless both 5 and 15 min RSI are oversold on BTC. We...
BTC has been in consolidation for two days, ever since the 15 min and then hourly lost the higher low pattern. Ideal day for the bulls would be a daily inside bar, but support is looking to be tested this morning, and odds favor bears. We will still be scouting for a daily higher low to form as we approach $10,000 if support breaks. I will not be trusting the...
Check out the live Video from yesterday to see why we were expecting a 4 hour higher low. Make or break day for BTC with the daily inside bar on watch. LTC will follow, and has seen more significant % movement on the dump and bounce due to the thinner order book. Yesterday the morning bulls tired out at 10 AM Eastern, watching to see if they are able to break...
As the Live video yesterday anticipated, we have seen the Big 3 form a higher low on the 4 hour time frame overnight. We are now looking to break the daily inside bar bullish over $1,100 the sooner the better. If we are unable to do so, and break the 4 hour higher low, it will be a significantly bearish sign. Watching to see if the US morning has the bulls show...
Watch the daily inside bar on the BIG 3 for key direction today. I drew out a "potential" head and shoulders bearish reversal pattern. This will play out 1 of two ways: 1.) We consolidate this morning and break the neck line, shifting momentum back to the bears. 2.) We break the higher of yesterday, break the daily inside bar, and see continuation of the bounce....