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BTC Looking for a 4 hour HLBTC Bulls have had some momentum the last few days, but is currently seeing a bearish reversal daily candle. If the 4 hour uptrend is lost, we will look for a daily higher low to form. The current 4 hour consolidation is healthy so we are not likely to lose the uptrend over the next 12 hours. I will be interested in the bulls if we can see a break of daily lower highs. If the lower high pattern remains, the bears keep control. Changing the daily trend will begin to make the weekly chart interesting. $6,823 is the level for the weekly downtrend to break in my opinion, and for the space to get exciting for bulls again.
COINBASE:BTCUSD
by TheChartGuys
3
BTC Potential 4 hour Bear FlagAfter the dump yesterday the bounce has not been very impressive for the bulls. It is currently a potential bear flag on the 4 hour and even if the bulls can negate it and see bounce continuation, we still have 4 hour EMA resistance to deal with. The bulls backs are against the wall and the bears are eyeing the 3 key daily and weekly support levels all within the next $500 down. Bears are comfortably in their positions with no reasons to cover at this point, and bulls, like myself, are in no rush to enter positions. I would be surprised if we break all these supports this week, I think some further tight daily trading the next couple days is most likely, but we are in a scenario where we are close enough to support that the bears could make their move at any point. Bulls are patient and bears are confident has been the theme for the last couple months and that is where we find ourselves this morning.
COINBASE:BTCUSD
by TheChartGuys
5
BTC Bulls trying for a 4 hour higher lowBTC bulls trying for a 4 hour higher low and a break of the lower highs to change the trend and give indication our daily higher low has been set. The bulls still have control and it will be up to bears to rejection the price from $7,128 and see a lower low. Aggressive bulls can enter here and stop out below the currently low of 4 hour consolidation, and patient bulls are waiting for the daily chart to see if we get continuation or not. Bears can look to enter a loss of the 4 hour higher low attempt, or look to top fish the recent top in the low $7,000s The MOST patient are waiting on the weekly pattern to play out. Continue watching daily EMA support as that will have to hold to keep the daily uptrend. We are now in a scenario where the burden of proof is on the bears on the daily and 4 hour time frames.
COINBASE:BTCUSD
by TheChartGuys
7
BTC Bulls Making a MoveThings are getting INTERESTING, mostly due to the continual increasing shorts. They are opening the door to get squeezed and bulls can see this clearly. We still do have 4 hour lower highs and in order to see a squeeze we are going to need to see a 4300-500 move in 1 hour. Bulls still must remain protective trading counter trend, and this 4 hour consolidation to form a higher low needs to hold EMA support to remain very strong. Also watching for the first EMA 12 and 26 bull cross since the lower high at $8,500. If looking to enter on consolidation, a stop below wherever the 4 hour higher low forms is the safe play. Bears are no longer as comfortable as they used to be. Let's see if BTC can break the 4 hour lower highs.
COINBASE:BTCUSD
by TheChartGuys
6
ETH 4 hour EMA Brick Wall ETH continues a slow grind down with rejections from EMA resistances. Surprising to not see any bull break with the BTC bull break from last night. Bears remain in absolute control with a daily lower high pattern consistent and intact. Bulls are cautious even on a bull break of this pattern, as we are anticipating a BTC daily lower high to set early this week. Bears are also cautious down here as I personally would wait for some daily bounce before establishing any shorts at these levels. Remember the daily RSI levels got to the teens the last major daily dump we had before there was a significant bounce opportunity so RSI alone cannot be the sole factor we base trading decisions off of.
COINBASE:ETHUSD
by TheChartGuys
BTC Very Healthy Consolidation 4 hour RSI is cooling off as we see declining volume and multiple 4 hour inside bars break bullish to start the morning. I am not expecting continuation just yet, but this gives bulls more space to work with as they try and pull off a daily bull flag. Breaking the low of current consolidation will not be a big red flag for bulls as we can still see very healthy daily consolidation if that is the case. The number 1 thing bulls are watching is the amount of bear volume on any pullbacks. EMA 4 hour support is catching up and should be in play more later today. I currently have some re-load bids set if we do drop to lower lows, otherwise I am remaining patient. Bulls would be fine with a slow sideways low volume day today.
COINBASE:BTCUSD
by TheChartGuys
13
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KRAKEN:ETHUSD
by Quantamize
ETH dumping with BTCETH currently has huge bear volume and is the most oversold on the shorter term time frames I have ever seen. Looking for a morning bottom to be set shortly with an easy $50+ bounce. Still scaling in very slowly and patient as there are no BTC bounce signs yet. This is maximum fear to push the price to extreme levels, unlike anything those newer to the space have seen. I will be playing ETH on the bounce again, and watching BTC on bitfinex for a potential flush under $8,000
COINBASE:ETHUSD
by TheChartGuys
3
LTC Base of Support at $56Although it does not fit the exact definition, this pattern on the hourly is close to the descending triangle. We have a base of support at $56 after multiple holds of this level, with lower highs of bounces each time. Bulls have to break the lower highs to shift momentum in their favor, and a break of $56 should see stop losses trigger. Weakest of the big 3 the last couple days as ETH and BTC are testing resistances. No entries without bulls proving volume and momentum from here.
COINBASE:LTCUSD
by TheChartGuys