Bulls have missed out while BTC and LTC see significant breakouts overnight. We have a double bottom at $462.10 and $462. This is now THE must hold level. Because it is such a clear support, there will be stops triggered if it breaks. Bulls are still within striking distance of all time highs, and hoping that profits will come this way if we see some BTC and LTC...
Tons of volatility last night but the bulls KEEP buying the dip. These 8% pullbacks in a matter of an hour or two are great for keeping us on our toes and reminding us to remain nimble. We will see a temporary top and pull back 10-20% pretty easily, but that top is not in yet. We are still watching 4 hour higher lows that have not broken yet to tell us we are...
The bulls have held strong overnight and are not seeing the same magnitude of consolidation as ETH. The bulls are looking for a break of the inside bar but if it is a bear break, due to the lower high set, we will look for an equilibrium here as well. The bulls are seeing a bit more correlation to BTC strength. A break to higher highs would give a clear...
The bulls are taking a breather while Bitcoin $10k steals attention this morning. ETH formed a lower high on the 4 hour and is now looking to form a higher low compared to $462.10. If this higher low forms, we will see a clear break this afternoon/evening from this tightening channel. Loss of the 4 hour higher lows will be the first red flag for daily...
Position entered before bed looking for a cup and handle breakout, with a tight stop below $9700. Fortunately the bulls broke out to higher highs, and followed through after a new 4 hour higher low. Look for the bulls to use up a lot of their buying power if we break $10k without a ton of follow through. As long as the 4 hour higher lows hold, the bulls are in...
Bull break from 4 hour consolidation as anticipated in the video last night. We saw a dump correlated with BTC and ETH this morning, and the bulls are trying to hold this as an hourly higher low. If we break these hourly inside bars bearish, it will increase the odds we enter more prolonged consolidation and I will be back to all cash from an $86.60 overnight...
Bulls saw continuation with a bull break from the 4 hour pattern highlighted in the video last night. The all time high did not see huge follow through as we had $500 resistance looming, and BTC saw a fast drop that correlated to other names ETH and LTC. The bulls still have full control and we are watching for a potential 4 hour bull MAC cross if the bulls keep...
After a bullish overnight run with continuation, we saw a quick flush dump that was quickly bought up. We are now tightening up on the 15 min chart with this dump low as a new key support to keep the bulls in full control. If we break to all time highs we will be looking to $10k and if this higher lows is lost on the hourly, we will look for healthy...
Consolidating for over 8 hours in the tight channel depicted in the chart on the hourly. With a bull break we will see a MACD cross with it. Note ETH has already broken consolidation bullish, and this is a potential laggard play to see some follow through. Overnight BTC and ETH have been the better names to be in for strength. LTC will see a new all time high...
After correlation to bTC picked up on the short term dump to oversold hourly (for BTC) the bulls have recovered by breaking the lower high pattern of the initial consolidation bounce attempt. Bulls have potential to test all time highs today and will be competing with BTC for attention. Break of $400 and we will be in longer term consolidation mode on the 4 hour...
After hourly oversold conditions, the bulls bounced over $400 to a complete recovery almost hitting new all time highs. Higher lows continue to form on the bounce on the hourly, keeping the bulls in full control. Dont be afraid to set a break even stop loss on these bounce plays for BTC Worst case you are out break even... best case you are in on the pullback...
LTC is fitting within a 4 hour higher low, lower high pattern the last couple days. We started recognizing this pattern forming when the bounce yesterday morning was unable to head to higher highs as we saw Bitcoin do. We will be looking for morning consolidation to stay within this pattern, and looking for a clear break tonight. Waiting patiently for the break...
We have been scouting this pattern ever since the bounce yesterday was unable to head to higher highs as we saw with bitcoin. The lower high after all that volatility signaled an equilibrium was likely coming. We now have a tightening range of higher lows and lower highs, and the pattern would dictate consolidation this morning to stay within it. The break of...
Bulls have been bouncing all night and staying strong with a 4 hour higher low. The potential bearish reversal head and should pattern stands out to me, but it will NOT be confirmed unless we break the neckline of support highlighted on the chart. The trend favors a new all time high today and the only way we need to be concerned of this potential reversal is if...
Hourly RSI got to oversold conditions with BTC correlation and saw a very significant $3+ bounce from these levels. Congrats to the bulls that continue to use indicators to profit and disregard FUD and emotion in those decisions. Ideal scenario would have been to get stopped out of trading positions and have all cash ready to feast on this extreme dip....
$15+ bounce for the bulls to feast on as we hit oversold 15 min RSI. We did not even see hourly oversold RSI as we were in such a strong position to start with, which is why timing BTC correlation for the bounce was key. We now clearly have $350s support and $370s resistance in a range. The higher low after the rejection in the mid $370s is forming an ascending...
Time and time again the bulls are racing to buy the dips on FUD events in this market. The stock market in 2017 has been doing the same time every time there is North Korea or Trump/Russian news. This is why we use technical analysis... ignore the emotion and play the same indicators we always do. Oversold hourly RSI when 15 min RSI is 20 or below has always been...
ETH has been consolidating since the big breakout to $370s where the bulls got ahead of themselves. The sell of for bulls to play BTC led to a higher low being established on the 4 hour chart, and we are now forming lower highs and higher lows. Look for a break in these tightening ranges by this afternoon/evening. Watch the LTC hourly equilibrium for potential...