So far only an initial reaction to Binance getting hacked for $40 Million. Bulls did not even lose the 4 hour uptrend on the bearish reaction. This speaks considerable amounts as to the resilient strength of the bulls in this market. We are looking for a 4 hour lower high to be set on this bounce, and for a tightening range to form most of the day. A bear...
Bulls marching towards key $6,000 resistances after very healthy daily consolidation. If we break the current lows of hourly consolidation, we will look to this 4 hour chart to look for a higher low. All eyes set on the key $6,000 zone where many traders expect a rejection. If we see a move over it by a couple hundred dollars I would expect FOMO to kick in to...
BTC has been a bit choppy on the 4 hour chart the last 2 days, but when zoomed out it is smooth and clear on the daily. We are looking for a daily higher low and it would be ideal for bulls if it held EMA12 support. Bulls have lots of space to work with on the daily and we will only see a red flag with high bear volume and a break of EMA supports. BTC bounced...
Bulls in full control breaking to higher highs and heading right to the zone everyone is watching in the $6,000s. Every time we head to higher highs, some bears waiting for a new low of year are converted. Every time we head to higher highs, the odds shift a bit more to favor the bottom being in. ETH and LTC have clearly formed weekly higher lows, while BTC has...
Further showing the bulls have digested the Bitfinex move, we have broken the $5,295 top of the bounce which was a key level for me as far as "proving it" goes. Note things can still come up that are negative in this story but for now the bulls are back to having their sights on recent highs. We just saw a 4 hour inside bar break bearish, meaning a higher low...
BTC bulls have impressively defended the pushes down to support, and this morning we are testing resistance. Bulls need to get over 4 hour EMA resistance to be looking up at the tops of the bounce reactions. During the last few days LTC and ETH had shown clear greater weakness than BTC, but yesterday that shifted. LTC bulls have shown up in a big way as daily...
BTC Still trading sideways in reaction to the bearish Bitfinex news. We have multiple daily inside bars breaking bearish on the daily but a lack of follow through so far. We also have 4 hour EMA12 resistance as a guide keeping the price contained. It is still impressive at this point that the bulls are holding above $5k on the back of some of the more bearish...
BTC had a very laggard reaction to the bearish Bitfinex news yesterday and I must be honest the carnage is better than I would have anticipated. If the Bitcoin bulls can come out of this FUD holding $5k it will be a significant statement as to the resiliency of the bulls. We have not even started weekly consolidation yet, we would have to break $4,900 to see it....
BTC bulls are starting their bounce attempt on the 4 hour time frame, which is keeping daily inside bars intact. Bulls are still in control of the daily chart as long as EMA12 is support, which will be tested if we see in inside bar bear break. If bulls control the morning we will likely have to wait until tomorrow for these ranges to break. Watching for...
Hourly equilibrium highlighted in the video last night broke bull and forced some shorts to cover with bull buying to new levels. The support/resistance levels listed here are from the hourly time frame. Bulls just looking for a 4 hour higher low, and EMA 12 support. It is fine to not be comfortable bullish but do not fight the trend! People were looking for a...
We have now seen two instances in the past couple days with a bear break of the 4 hour uptrend and no bear follow through to confirm a downtrend. The daily chart for BTC has the psychology of a cup and handle pattern with the inability to break resistance and current bull flag. My visual guide on the daily remains EMA12 support which will have to be lost as...
BTC bulls keeping full control after the bull break during yesterday's video. We ended up seeing a bit more continuation before consolidation overnight. Very healthy pullback at this point and even if the 4 hour higher low is not set, there is plenty of space above 4 hour EMA support. Bulls have full control at this point and bears will most likely make an...
BTC Bulls bought the dip after a dump many are attributing to a barrons article: www.zerohedge.com We are looking for a 4 hour lower high to be set this morning and for ranges to continue to tighten. We have 5 days within the current range highlighted on the chart, and I am patiently waiting for a break of this range before taking any more trades. With a bull...
BTC bulls made some significant follow through on the resistance break during the live stream yesterday. Now we have set a double top and started consolidation. Back test of 4 hour EMA support this morning as the bulls look for a healthy higher low. ETH and LTC were laggards to the bull move on BTC but now we are seeing more significant consolidation with 5 and...
After dropping to a lower low, bulls bounced back to the original tops and are currently trying to break the lower high pattern. On the daily chart this is currently seen as a bullish reversal candle off EMA12 support. Bulls are hoping for a strong close of this candle, but keep in mind we will need a 4H higher low and HH to change the trend back to bulls. LTC...
Bull break last night but only 1 resistance level and we do not have a volume spike and follow through. This is keeping the bulls in control with the higher lows intact, but it is not convincing yet for daily continuation. Bulls continue to impress holding up this long after the original break out has occurred however. Also liking the 4 hour equilibrium on LTC...
Bulls are keeping EMA 12 support on the hourly but if this pattern breaks bear it will be lost. Currently all cash and patiently waiting. ETH is also in a 4 hour equilibrium, while LTC has pulled back significantly looking for the daily higher low to be set. With a bull break we will be looking at $5,400 resistance on BTC. Bulls are just now bouncing off...
Bulls saw a continuation break last night to higher highs, though not by a large amount. Using the 4 hour EMA 12 support which has been holding for 20 candlesticks, or 80 hours as support. ETH strength in favor over LTC now for me personally in the short term, and I flipped it yesterday. Continuing to use BTC as a guide, I exited when the 5 min BTC uptrend was...