Bulls need a break of $310 for continuation as we head closer to Devcon3 Wednesday. Psychology of the cup and handle pattern is there, inability to break resistance, leading to healthy consolidation. The break of $310 will be confirmation of the breakout if this pattern is to follow through. Watching close for ETH to get some extra attention leading up to the...
BTC bulls see new all time highs yesterday, and form a solid base of support on hourly consolidation. We have a new clear higher low, and the bulls are making their way back up to all time highs. As long as these supports hold, the bulls maintain full control. We will be looking at psychological resistance levels $6400, $6500 if we see continuation. Always a...
It looks like lots of lines, but if you focus in you can see they clearly mark a tightening pattern of higher lows and lower highs. Correlated with ETH tightening range, we will look for a break of this pattern today to be marked with a spike in volume and volatility. Correlation has been to BTC and a bit of a weaker version, with less significant bull moves in...
This is the tightest sideways drawn out channel I can remember in ETH. Money in ETH the last couple days is stagnant money and while we are not seeing much downside, it is wasted profit opportunity in other names to just let funds sit still. We will watch for a bull break but ETH has been out of favor with the market for weeks aside from the short term bull spike...
Two rejections from resistance, and two bounces off support. The bulls still have control of the trend as long as this support level holds, and with a break of $6k we will be looking right back to all time highs. Break this support and the daily chart will be forming a lower high with the possibility of a head and shoulders reversal pattern we will highlight in...
LTC seeing higher lows and lower highs on the 4 hour in a tightening range. Still correlating to BTC moves but BTC is the leader and seeing bigger gains for the bulls. Watching for a break of this range sometime today to indicate direction and momentum heading into the weekend. Bulls have favor due to the clear reversal in trend for the BTC bulls. Current...
No action over the last couple dozen hours. Correlation to BTC has shifted as BTC broke bullish and ETH sat stagnant. Looking for a break of this channel this morning which will lead to some increased volume and volatility. Lots of price action around $300-305 so if bulls can get these levels as support they will be much more comfortable in the short term....
Bulls broke the downtrend yesterday with a higher low and higher high on the 4 hour time frame. We have been consolidating sideways all night with multiple 4 hour inside bars to watch for a break. We should see a break with the candle that will begin forming at 8 AM Eastern. (the next one) The daily chart has formed a bullish reversal hammer and is our new higher...
Bullish inverse correlation to BTC since the fork block hit last night. Big bull move hit a high and has been seeing healthy, higher low consolidation all night. The bulls can easily see a bull break and continuation from where we stand, but a loss of 15 min higher lows is a red flag. Significant gains from the low and big bullish reversal candle on the daily...
After the multiple rejections from $310 the bulls have formed higher lows to continue to stay within striking distance. Break $310 and the bulls will be back in full control. This chart was drawn on the 15 min time frame with uptrend support hitting the higher lows. All eyes are on ETH with the bulls showing up after 9 red days in a row. Bulls trying to follow...
After a bearish reaction to the fork block there was not an all out dump as we did not hit hourly oversold RSI levels. Bulls now have a higher low as they are trying to reverse the trend, and the range will tighten throughout the morning. Alts, ETH and LTC were the big winners as some money left BTC and flowed elsewhere. Watching today close for continuation of...
Bulls holding recent lows and seeing an hourly oversold bounce with a strong correlation to ETH this morning. We did not see 4 hour RSI levels hit oversold so we are cautious this could be a short term bounce before another leg down. Stop losses at break even as the bounce gets some breathing room is ideal for protection. While not as weak as ETH, the daily...
Extreme oversold 5, and 15 min levels, along with a low 20s hourly RSI made scaling in very easy in the mid to low $282s. Currently not convinced we have hit bottom for the day so locked in half profit on a $4 move and keeping the other half for potential continuation. ETHBTC pairing is looking to form a higher low on the 4 hour, and still in beat up conditions...
Bears have shifted momentum back in their favor with a break of higher low support. The 4 hour time frame has now formed a lower high and appears headed down to test the recent low of consolidation. Bulls need to be cautious as longer term time frames are not oversold meaning BTC has more downside potential from these levels. Bullish plays in much more oversold...
I usually use real bodies of candles for trend lines but in this instance it has to be wicks for this pattern. Clear lower highs and horizontal base of support as the range tightens and we wait for a clear break by this afternoon. Look for the BTC break of the 4 hour equilibrium to dictate the LTC break of this pattern. Bears have the upper hand and it is up to...
A clear bear break of $305 support has the bears in control of ETH. Least follow through out of the BIG 3 on the oversold bounce. $300 psychological support for the bulls to defend but $305 is a big level that keeps coming into play, and is currently being battled over. Bulls must form higher lows and higher highs on the hourly to change momentum in their favor....
BTC has been in a tight range at the top of the oversold bounce all night, seeing a tightening range set to break today. Look for a spike in volume and volatility when the break occurs. The 4 hour chart is currently forming a 2nd lower high after the all time high, and has us cautious as bulls at these levels. Look for the correlations in the BIG 3 to pick up...
Correlation to BTC has faded as we were the strongest bounce to start, but the inability to hit higher highs yet has allowed BTC bulls to catch up. Still lots of strength as we look for a 4 hour bull MACD cross, but inability to set a higher high here will warrant caution. Close eye on BTC as the correlation will likely be there for the bears if we begin to pull...