Over the last 17 days, 15 of them have seen a lower high compared to the previous day for BTC. With that fact it is pretty impressive we are still holding up within the tightening pattern, but bulls must show up and regain a 4 and 12 hour uptrend if they hope to remain in this pattern through this week. We are slowly fading back down to our recent low, which has...
Bulls need a 4 hour trend change to be looking for the daily higher low. If we get it today or tomorrow we will look to stay within this daily range until weekend. While we remain in this tightening range, Alts continue to have some slack to make their own moves. ETH and LTC continue to have goo weeks, and today we are watching to see if LTC can play laggard and...
BTC sideways trading as volume continues to decrease. Break is imminent today or tomorrow which will tell us either: 1.) Our daily lower high is set 2.) Our daily lower high has not been set We will still expect to stay within the broader equilibrium a bit longer even after the daily inside bars breaks. While trading sideways, some of the alt coins continue to...
Bulls changed the 4 hour trend to give us a clear higher low, and the daily range continues to tighten. We will look for the daily lower high to be set when the 4 hour uptrend is lost. It is currently consolidating and looking for a higher low. ETHBTC and LTCBTC have been consolidating on the daily looking for a higher low to try and eventually change the daily...
Weakness continues in BTC as we do not have any indication of a daily higher low being set yet. 4 hour EMA resistance continues to reject the price, but the bears are not getting much follow through to the lower lows. BTC bears are using 4 hour EMA resistance as a guide. Volatility in general is likely to shrink the next week or two in my opinion. ETH, LTC and...
BTC continues to tighten from the range set yesterday. We have EMA resistance on the 4 hour, and bulls are currently trying to hold the higher low of support and stay within this range through the morning. We must see a bull break for our daily higher low to be set. While we have traded within this range, LTC moved to a higher high, while ETH remained in a...
BTC pulling back to lower lows on this consolidation, which is getting to a point where bulls need to show up and change the 4 hour trend. This would give us a daily higher low that we were patiently waiting for on the move up. Still watching LTC and ETH gain some relative strength vs. BTC and that is where my interest has shifted in the shirt term. I am still...
Daily inside bar bull break and continuation for the bulls, shifting sights to resistance $10,953. The pattern of a higher low every day for the last 8 days remains intact, but we still do not have a clear trend change on the daily with a higher low and continuation. Get over $11k and our focus shifts to key weekly lower high resistance of $12,300. Bulls are...
A few flushes overnight for the 5 and 15 min RSI to get oversold again, with each time resulting in some bounce. This shows us the bulls are keeping control and there are dip buyers stepping in. Expecting a daily inside bar to form today and if it does, how it breaks tomorrow will indicate if this move has topped out and daily consolidation is underway... or the...
A very impressive day yesterday for the bulls, creating tons of space above key $9k support, and increasing odds significantly that when this move does top out, a daily higher low will likely form. Note the daily trend change will still be needed for the complete shift in momentum back to the bulls, with a clear daily higher low and higher high. Anything under...
Overnight the BTC bulls held the low of the dump and broke the high of the 4 hour resistance. We have not seen much follow through yet as we are testing 4 hour EMA resistances. If we get over those levels we will use the daily to be watching for a lower high to form. The bullish play in this range is either bottom fishing $9,000 or waiting for a daily trend...
After a break of short term resistance with no follow through, we are heading back down to test recent daily supports. If these levels hold we will remain in a tightening range for the week. This could be a bullish scenario for some alt coins as sideways bitcoin allows for altcoins to trade on their own without significant correlations. If support breaks we will...
The break in the tightening daily range happened when it was expected as far as timing goes, and favored the bulls in a quick, high volume move. One thing missing... follow through. Look at the move on the 5 min chart. The vast majority of the price action and volume was on one 5 minute candle. We went from $10,116 to 10,680 in 25 minutes, and never saw a higher...
BTC Daily chart continues to tighten so not much to update at this point. Bulls changed the 4 hour trend but saw no follow through, which normally means zoom out and look for a daily bear flag. The odds have a slight favor for bears where we currently stand, so a bit more follow through over $10,255 would be needed to even out the probabilities. If we see a...
The fear index is crushed as the bulls battle to hold the daily equilibrium and try and form a higher low heading into the weekend. If bulls fail we will likely head to daily oversold conditions and a $9,000 test. If they are able to hold we will likely see a break of the range Saturday or Sunday. Still all cash and patiently waiting for the tightening range to...
Loss of the 4 hour uptrend was the first indication, followed by a 4H lower high and lower low... into a solid dump. These were the indications the daily lower high had been set, and it sure feels like the bears have had an easier time than the bulls as we work through this tightening daily range. I would expect a higher low compared to $9,470 at least...
Consolidation on BTC and a loss of the 4 hour support. If we break the pattern of a higher low every day, our daily lower high in the tightening range will be set. The break in this pattern will likely be what leads me to take the rest of my BTC position off and patiently wait all cash for a break of the tightening range. Still keeping an eye on the tightening...
After the first 3 days of the bounce started shaping up as a potential bear flag, the bulls are breathing a sign of relief for the bounce follow through that is making the daily equilibrium more likely. Bulls are looking for one more push to the low $11,000s to get to the midway point within the range. Watching the 4 hour uptrend to see how long the bulls can...