Healthy consolidation last night from overbought conditions have seen the bulls rally to establish new supports, cool off technicals, and remains close to all time highs. The volume has been very low for the BIG 3 overnight, so when we see volume uptick we will have to pay attention to the direction seeing the benefit. Watching for a 4 hour equilibrium pattern to...
The weakest of the BIG 3 right now as BTC is the clear leader, and ETH has more significant strength overnight. The bulls are still attempting to break a tightening range on the hourly and we also set a lower low on the hourly. Although it was not by much, ETH did not come close to setting a similar lower low. Still an inverse correlation to BTC to watch, and now...
Overnight we saw very slow action as the bulls continued to hold hourly supports, and climb back to the high of the bounce at $302.05. The bulls will need to continue to move up to try and follow through with the bounce off support in the mid $280s on the daily, as we keep an eye on the 4 hour MACD. Inverse relationship with BTC is still mostly intact, and we are...
BTC has been consolidating from a very significant bull run for the last dozen + hours and the bulls have managed to keep in control while building support. Because we are so close to all time highs, we will be watching for the bulls to show up later today unless we see a break of the short term hourly supports. If these supports break we know that 4 hour and...
After pulling back all yesterday from a breakout, the bulls are looking to hold $51.60 support and form a higher low just above it. With a bullish reversal doji forming on the 4 hour chart, it will be up to the bulls to confirm this reversal candle and try to see the trend change back in their favor this morning. The daily chart is still in a tightening pattern...
A solid $9 bounce off the $300 psychological support from oversold hourly conditions. We are establishing a higher low and watching the range tighten up in an equilibrium pattern. The bulls will have to break the low $309 resistance to shift momentum back in their favor after all the weakness yesterday. BTC is stealing attention due to the lack of resistance...
Bulls holding on to support in a tight sideways channel. If we form a lower high on the hourly and break the recent base of support we will see the 4 hour chart confirm further consolidation is coming. The 4 hour chart will need to consolidate as the bulls make their way towards all time highs and if we were to see continuation from here. We would look for a...
LTC has been the weakest correlation for bull strength with BTC the past couple days but is still benefiting from the bull strength. Higher lows and higher highs on the 4 hour time frame with the 4 hour Bull MACD cross following through after we saw the momentum shift. Very key $53 resistance approaching as the bulls look to confirm the daily reversal candle....
Very clear higher low and higher high on the 4 hour after the Bull MACD cross. Bulls in full control as we have a few resistances left before higher highs on the daily. Watching for hourly consolidation to form another higher low as there is lots of wiggle room where we stand. Correlation to BTC favoring ETH on this most recent leg up. Potential hourly bull flag...
We saw the hourly chart set a higher low and higher high, followed by continuation and the 4 hour chart bull MACD cross. The bulls are looking to confirm the daily bullish reversal candle today and are off to a great start. Watching for the hourly higher low pattern to maintain and keep the bulls in full control. A break to higher highs on the daily will not...
Hourly bulls must set a higher low and higher high to shift momentum after 3 days of the same weakness. Always watching the BTC correlation where we are seeing the strongest bounce attempt in days underway. Due to the strength of the bounce, we will look for a higher low to form on the consolidation, with the bulls attempting a higher high to change the trend....
After days of lower highs and lower lows, the bulls are trying to reverse the hourly trend with a strong bounce, healthy consolidation, higher low and higher high. We have not seen a clear change in this pattern yet, and the bounce for BTC this morning, affecting correlation, is the strongest we have seen in a few days. ETH appears in the middle of the road in...
BTC has been in a slow and steady downtrend with lower highs and lower lows for the last 3 days. With a significant bounce from the lows this morning, the bulls will be looking to form a higher low on consolidation and then break the lower highs to try and shift momentum. Currently holding $4015 daily higher low of consolidation, and looking for a bullish...
Bulls are breaking the correlation to a degree and trying to keep a higher low on the hourly chart as BTC heads to lower lows. $51.85 support just held and the bulls are trying to bounce from oversold short term conditions. The daily chart is an equilibrium pattern tightening up which is resulting in multiple weekly inside bars. We should see a clear break of...
With BTC duping we are pulling back, but not seeing anywhere near the same amount of weakness. Previous resistance is being back tested as support and the bulls are looking to form a higher low on the hourly chart. The correlation to BTC still matters but the bulls will be favored here as long as we have more supports and the least amount of bearish...
After breaking supports the 5 min RSI is approaching single digits and the 15 min RSI oversold as well. This is a short term bounce opportunity but as we keep setting lower highs and lower lows, we know we are still in consolidation mode controlled by the bears. The video last night highlighted the ease the bears were erasing hard work by the bulls, and 1 bear...
LTC has been weaker than BTC for days as the LTC/BTC chart shows, with many red 4 hour candles in oversold territory. This means that as the bears take over BTC the weakness in ETH and LTC will be magnified. The hourly RSI is already in oversold conditions and trying to bounce while BTC is not oversold on the hourly yet. We are in a very tight, low volume daily...
ETH had already set a lower low on the 4 hour consolidation before BTC had done the same overnight, so the bearish move is being magnified down due to correlation. The hourly RSI is oversold now though it is important to keep an eye on BTC which does not have an oversold hourly RSI just yet because if BTC continues down the correlation will likely continue...