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BTC Bulls Regaining Momentum Potential 4 hour bull flag as the bulls are trying to confirm the 4 hour trend change after a significant bounce. After adding BTC and ETH yesterday morning on weakness, I exited half of both last night as I was unable to watch for 10 hours and was sitting on a 4 day maker in just 12-14 hours. I am currently still holding the 2nd halves of those positions and looking to exit on the loss of the 4 hour uptrend, which would indicate our daily lower high has been set. Bears are waiting for a loss of the hourly uptrend at the least. I expect to trade within the current set ranges into the weekend. Tightening ranges mean less aggressive trading as volume and volatility decrease.
COINBASE:BTCUSD
by TheChartGuys
1
BTC Bulls Need a 12H Higher LowCurrently a tight hourly range on BTC that has to break bullish for the chance at a 12H equilibrium. If the bulls pull it off, we could stay in this equilibrium for another 2 days. If unable to see follow through into the mid $11,000s, we will be looking for a bear break of $10,300. This would likely mean a break of $10,000 is coming and 4H oversold conditions. The two plays for bulls are to bottom fish $10,300 support, or to wait for a bear break oversold bounce. Bears are either entering using the hourly downtrend as a stop (not a trade I like for R/R) Or waiting for a 12H higher low to form, and scouting for an entry on its lower high. We should know which scenario is most likely much more clearly within 3 hours or so.
COINBASE:BTCUSD
by TheChartGuys
1
"XRP is undecided to go up. Could it go down?" by ThinkingAntsOkDaily Chart Explanation: - Price faced the top of the Descending Channel, but it showed weakness when trying to break it. - Price was rejected from this zone and is on the Descending Channel again. - Bearish Divergence on MACD could be anticipating a down move. - It is, again, in the Micro Triangle Structure. Which side do you think Ripple will break the Micro Triangle Structure? Which will be the next move? We will keep you updated!
BITFINEX:XRPUSD
by ThinkingAntsOk
5
BTC 4H Equilibrium Watch Congrats dip buyers, solid bounces off the lows. We did not get the $10k flush we were preparing for from the video, but the bounce has certainly been worth while to make even smaller positions significantly profitable. I personally will be exiting my position if we get 1 more leg up into the low $12,000s which was my visual target for the 4 hour equilibrium. From there we will look for a potential chance at a 4 hour higher low eventually, or just patiently waiting for the 4 hour Equilibrium to break. Make sure and check out the video even if it is just a review of what we were looking for, and why. www.youtube.com
COINBASE:BTCUSD
by TheChartGuys
6
BTC Potential Hourly Bull FlagCongrats bulls! BTC dominance is almost to the highs of December 2017. We are back in insanity mode and that means greed and emotions are running high. As I keep repeating... Do not short BTC while we are in a daily uptrend, and this daily uptrend is going to hold up a while. Tons of space of a daily higher low when we lose the 4 hour uptrend. We just had a 15 min equilibrium break bearish, and it led to a complete recovery from 5 min oversold conditions. It will be notable when we have a flush dump, some recovery and THEN hit a lower low... that has not happened in days. As always, check in with yourself. What emotions are you feeling? How are they potentially impacting your decisions? A 15 min. higher low and higher high in the next few hours would tell us the bulls are likely going for $13k.
COINBASE:BTCUSD
by TheChartGuys
17
BTC Bulls Keep 4 Hour Trend AliveThe BTC Bulls are keeping full control of this move and heading to higher highs. There is not much follow through on the new 2019 t this point, but with so many shorts piling in they continue to provide the fuel needed to see this continuation. Alts are being hit hard as the focus continues on BTC. LTC and ETH lost the 4 hour uptrend long ago. BTC weekly resistance after $11,775 is almost non existent, giving tons of space for bulls to work with. We have not seen a 4 hour higher low in over a day, and bulls looking to FOMO in are probably better off waiting for another 4 hour support to be found. I am currently just riding long positions with no shorter term positions re-established at this point. As I said in a recent video, shorts are betting off keeping the rule of thumb: "I will not short while we are in a daily uptrend"
COINBASE:BTCUSD
by TheChartGuys
2
Hey BAT, It's Been A While! BAT is one of the cryptocurrencies I've been covering over the last several months. It's also one of the coins I've successfully traded. One of my best calls to date is timing the breakout perfectly from 3700 all the way towards 10000. I don't trade too often (I mostly just enjoy analyzing the market because it's so interesting), but if you've been following me, you'll know that I traded in and out of BAT during that parabolic rise to increase my ETH. I did this alongside ENG, and successfully increased my ETH by 30%. I'm glad I took my profits and left those positions entirely, because since then BAT and ENG have performed poorly against ETH (and the entire market, for that matter). I prefer quality to quantity when it comes to short term trades. When you enter a trade, it's important to be able to differentiate between a long term trade and a short term trade, and commit to one or the other. Otherwise, you'll probably be left holding heavy bags. Anyway, in my last BAT analysis, I said it looked like it was very possible for it to head back towards the 3K sat area. This was because on the chart it did exactly what XLM did last fall - it broke out of its triangle and long term diagonal resistance (light blue and orange), only to be unable to sustain the higher ratio, resulting in a crash back down below the resistance level. This is objectively a bearish development in the chart. Here is the previous analysis where I suggested some further downside: The good thing is, BAT has been able to look healthy against the USD, maintaining above $0.30 and still performing better than a lot of other alts since January (300% up since the $0.10 bottom - its recent high was a 500% increase). Right now, it's just consolidating. This analysis is about the Bitcoin ratio, however. Here's the USD chart with a possible ascending triangle. It should be noted that a lot of alts are forming similar patterns, though some look objectively worse. This is a neutral post because I think BAT could go either way in the short term, against Bitcoin. Long term, BAT is clearly range bound. When I've talked about this to people who are bullish on BAT, they get annoyed...but this is just what the chart is showing us. It is a clear trader's coin until it starts showing some long term price appreciation. Due to this market behavior, there IS possibility for severe downside against BTC. If BAT follows in the footsteps of XLM, it could break down below the triangle resistance (light blue) and head all the way towards the 1K sat area - a zone it hasn't tested for quite some time. If BAT is truly a range-bound asset, and 1000 is the absolute bottom of the range, it really could test that zone before moving back up towards the top of the range (9000-10000). A lot of alts are currently either testing long term supports against Bitcoin or heading to new lows. Clearly the trend (for now) is that people are more ready to buy Bitcoin. It's not necessarily that people are selling alts for Bitcoin at this point. The large amount of money flowing into Bitcoin is just not flowing into alts at this time. Alts are slowly rising though, which is encouraging. If this trend is eventually going to move in favor of alts, I speculate that the first to move will be those in the top 10 (particularly XRP and ETH, as they have the most liquidity). Alts like BAT could take a little while longer. On the bullish side, BAT could continue to bounce here and head up towards the orange resistance (around 5200). If that falls, BAT could head all the way up again to test the top of the range. Still, BAT has been unable to sustain higher prices within the range. Until that changes, I don't see BAT as a long term play. This is not financial advice. Not even really a potential trade setup. Just an objective analysis on BAT, based on what I've been seeing. I want to continue keeping track of this one, because it can make some pretty predictable (and profitable) moves. This is for educational and speculative purposes only. -Victor Cobra
by VictorCobra
BTC 4 Hour Higher Lows are KeyNice Job by bulls to continue defending the 4 hour uptrend while most other names like ETH and LTC have lost the uptrend. Due to the notable lack of bull volume I personally am expecting a 4 hour lower high this morning and a potential equilbrium. Bulls continue to buy oversold conditions, this time it was the 15 minute time frame that formed our last 4 hour higher low. When we lose the 4 hour uptrend we will look for hourly oversold conditions to be a trade opportunity. Currently back to all cash in swing positions after the pullback last night. Entries continue to favor shorter term oversold conditions vs. buying bull breaks. When the 4 hour uptrend is lost we will zoom out to the daily and look for a higher low.
COINBASE:BTCUSD
by TheChartGuys
BTC Bulls Date with $10kExtremely bullish daily chart continuation, and clear 4 hour uptrend as a guide on this move. Bears are nowhere to be seen as the bulls continue to push higher. You may be asking, Who ois buying up here? A lot of the fuel for bulls is coming from shorts who keep trying to fight the trend, and keep having to cover in a fairly thin trading environment. If we reject from the $10k psychological barrier we will look for a daily higher low to form. I am still riding my ETH position from about 4-5 days ago and recently added LTC around $138 last night. Logic for LTC was very clear tight daily pattern, bullish sector, and ETH and BTC profits potentially looking for somewhere to go. My positions are using 4 hour up trends as my guide. Congrats bulls! Establish those game plans for locking in some profit
COINBASE:BTCUSD
by TheChartGuys
3
BTC Potential 4H Head and Shoulders PatternYesterday BTC broke the higher low every day pattern which had been intact over a week. This has us looking for healthy daily consolidation, and a daily higher low. If this head and shoulders breaks bearish, we will see a test of daily EMA12 support. If this pattern does not confirm, we will have a daily bull flag looking towards $10k. Patiently waiting for more information as to how much daily consolidation we are going to expect. LTC continues to have my attention as we rejected from resistance to remain in the daily equilibrium this morning.
COINBASE:BTCUSD
by TheChartGuys
1
BTC Bulls Fighting to Keep 4H EMA SupportBitcoin bulls are keeping up the strength with currently 9 days in a row with a higher low every day. When this pattern breaks we will look for healthy daily consolidation and a higher low. Bulls keep full control as long as this pattern is intact. 4H EMA support is lining up with this pattern, and when it is broken we will likely lose this EMA support as well. Still riding an ETH position and moving up stops as we go to lock in profit when our temporary tops are hit. FB getting lots of attention from its crypto launch, and very surprisingly the stock market is responding very well to it. Bulls in cash are waiting for a daily higher low to form to look for an entry. Hourly oversold conditions when looking for a daily higher low can also be a good signal to begin scaling in. Bears are waiting for the higher low every day pattern to break, to indicate a shift in momentum.
COINBASE:BTCUSD
by TheChartGuys
2
BTC 4 Hour Tightening RangeBTC bulls held the first test of 4 hour EMA support, but were unable to see continuation. This leaves us with a daily inside bar forming and tightening range. With a bull break we see higher highs and with a bear break we see daily consolidation looking for a higher low. Either way bulls are still keeping control of the trend for now and looking for more continuation on the weekly. Still in ETH and moving up stop losses as new support levels are formed. LTC had my top watch the next couple days with the clear tightening daily range and LTCBTC chart which is on watch for a 4 hour trend change.
COINBASE:BTCUSD
by TheChartGuys
1
BTC 4 Hour UptrendBulls keeping control as long as this uptrend remains intact. The 2D chart has the most clarity for me otherwise. We are watching for 3 scenarios: - Daily continuation - 2D Head and Shoulders Reversal for more weekly consolidation - 2D Lower high and equilibrium Knowing the frame work of the setups on the longer term time frame, the 4 hour chart can give us the clues and details to help determine which is the most likely scenario. I personally feel the equilibrium is most likely, but I am establishing some small positions in ETH which is looking for a daily higher low.
COINBASE:BTCUSD
by TheChartGuys
4
BTC 4H Break Likely Today Bulls currently have a bit of an upper hand in the pattern with the strength we see off each new support found. The range is tight enough that we can be looking for a break within the next 12 hours or so. The most important thing to see if we do break bull, will be continuation on the hourly or 4 hour time frame after the break occurs and we see the initial consolidation. Currently still in about half my LTC swing and slowly scaling out/ moving up stops. There have been some decent flips on 5 min oversold conditions during that bull run. Remember, buying bull breaks are higher risk in this market. I protect myself by quickly scaling out some position into profit to allow me to lower my break even price. Other bulls are buying consolidation and using 4 hour higher lows as stops.
COINBASE:BTCUSD
by TheChartGuys
1
BTC 4 Hour Equilibrium SetupWith the bear push this morning we are looking to form a 4 hour higher low at some point today and remain in the tightening daily range at least until tomorrow. This range is very important because it will give us a significant shift in the % odds the current weekly consolidation is done to head back to $9k vs. needing to head down to $7k. We also much look for follow through on the break whichever direction it occurs. If we bear break with no follow through, we will look bullish, and a bull break with no follow through will keep us cautious. Currently still in the LTC swing after taking some profit , which I will establish my new stop levels around once BTC gives us more, clear, tightening ranges. A waiting game for those in cash awaits!
COINBASE:BTCUSD
by TheChartGuys
BTC Some BEar Flags FormingCurrently we have a bear flag on the daily and a bear flag on the 4 hour chart. In this setup it is possible for both to confirm at the same time. Bulls are defending support, but are not doing much in terms of breaking resistance. With another leg down we will look to the futures gap in the upper $7,100s to fill. We will also look to weekly EMA12 support as a potential weekly higher low target as well. I am personally building a swing position in LTC as I like the LTCBTC chart as well as the consolidation so far. My first fills were last night in the 100-teens and I have lots of space and patience as the odds currently favor another leg down on BTC. Bears can use 4 hour resistance on 4 hour EMA resistance as a guide for stopping out, while looking for the daily support break to follow through.
COINBASE:BTCUSD
by TheChartGuys
1
BTC Double Bottom Bounce BTC bulls held the low of consolidation and are bouncing significantly. A few things to note for the broader setup: 1. Anything under $8,834 is a daily lower high 2. Weekly bull flags are forming and the burden of proof is on the bears to change that 3. This move is coming off the low and we will likely need a 4 hour higher low on consolidation today 4. LTC clear lead bull of the major 3 names as it is only 1-2% away from breaking the daily lower high Patience for bulls looking for entry. The play will be either an entry on 4 hour consolidation or more patience to wait and see if the daily chart is indeed just going to give us a lower high and continued weekly consolidation. IF the bulls were to form a weekly bull flag I believe there will be a decent amount of FOMO as MANY traders are holding out for low 7,000s or upper 6,000s. There are also bears waiting for the daily lower highs to make an entry.
COINBASE:BTCUSD
by TheChartGuys
5
BTC Bulls Looking for an Inverse H&SBulls have seen a very nice bounce from an oversold climax on the 4 hour chart. We are still in a 4 hour downtrend and with declining volume the bulls are losing some momentum. I believe in order to change the trend it will have to be an inverse head and shoulders. Remember if the 4 hour trend changes, we zoom out to the daily and look for a lower high on that time frame. Bears are looking to enter at EMA resistance for the 4 hour lower high. I personally had a solid BTC bid at $7,411 which missed by about $16. While it is a bummer, I lost $0 and I just sit back and wait for the next trade opportunity. Remember, there is ALWAYS another trade out there in one market or another.
COINBASE:BTCUSD
by TheChartGuys
4
BTC Bulls Trying for Bounce Follow ThroughYesterday the daily uptrend was lost on BTC indicating the start of weekly consolidation for the first time in a couple months. It was also the first time the 4 hour RSI had been that oversold since the $3,000s. This shows a shift in the market, where RSI levels on longer term time frames should be paid attention to more, as bulls are not longer in full control. The bounce attempt has been slow going, and it is up to the bulls to change the hourly trend from here to look for some follow through. Remember that if the trend change does not follow through, it means zoom out (to the weekly) and look for a potential flag. Bears have some proving to do, and lower lows are required for them to do so.
COINBASE:BTCUSD
by TheChartGuys
2
BTC 12H Equilibrium The most likely scenario from the video yesterday is playing out on BTC. Loss of the 4 hour higher lows was the indication a tightening range was likely. We are expecting a break Tuesday or Wednesday. Bulls want to hold EMA12 on the daily on a back test of support, which hourly oversold already bounced off. The weekly bearish reversal candle has us cautious of healthy weekly consolidation if the daily uptrend is lost. Currently all cash and waiting for a break of the tightening range. Due to the weekly candle, a bull break would only be a day trade for me personally.
COINBASE:BTCUSD
by TheChartGuys
2
BTC Tightening HourlySlowwww and steady recovery attempt from the bear attack yesterday. 1 by 1 we see EMA resistances grinded against and eventually surpassed as resistance. Now the battle is on for the hourly EMA12/26 resistance. Break it and we zoom out to the 4 hour EMA resistance. Notable that as of right now bulls are still holding the daily uptrend and daily EMA12 support. Bears will have to follow through with another leg down to convince bulls the temporary top is in and weekly consolidation is likely. Global slowdown fears with red markets around the entire world today, CNBC continues to talk about BTC as a "hedge". This is a good narrative for bulls as long as weakness in stocks continue.
COINBASE:BTCUSD
by TheChartGuys
4
BTC Bulls Still Buying DipsFirst we saw 5 min oversold RSI bounces, then 15 min, and now most recently it was hourly. This has lead to further lower lows on consolidation, but the first hourly oversold RSI since the breakout saw lots of bulls step in to be buyers. I expect to top out on this bounce shortly this morning and then consolidate for hourly higher lows. Bulls are still setting potential bull flags on the daily charts and looking for continuation today or tomorrow. Bulls looking for a position will be adding an hourly higher low and placing stops below the low of this pullback.
COINBASE:BTCUSD
by TheChartGuys
3