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BTC Daily EQ Can't get much tighterThe daily chart continues to tighten on low volume as we know a break is imminent early this week. The bulls are trying to form a daily higher low, and a break of $6,585 would confirm our daily higher low is set. Note all short term time frames lower than the daily are a bit choppy, though the 4 hour can give us a bit more clarity for levels. __________________________________________ Just as I was typing this bulls broke this $6,585 level. We now have our clear daily higher low at $6,492. This gives us a daily range now of $149 set to break shortly. Both bulls and bears are setting stop orders for when this range breaks.
COINBASE:BTCUSD
by TheChartGuys
1
BTC Bulls Still Need Follow Through We are still seeing the bulls grind EMA 4 hour support, but they have to break the lower highs to see continuation and shift momentum. The bears continue to hold the upper paw as long as the lower highs remain. The daily chart continues to tighten and this weekend it will be worth watching other alt coins in daily equilibriums to see if we have any initial movers for clues. As the video yesterday alluded to, we are likely to see things get very tight and boring just before a volume and volatility spike. We must stay vigilant for this reason! I will look to set a potential stop buy order if we get another clear daily lower high.
COINBASE:BTCUSD
by TheChartGuys
2
BTC Scouting 4 Hour Higher LowBTC saw a pump last night that only lasted about 10 minutes in terms of the significant part of the move. Since then we have consolidated for 9 hours giving some of the move back. This is still healthy consolidation on the 4 hour and even a potential bull flag. Bulls are trying to hold the back test of 4 hour EMA supports. We are still in a 4 hour lower high pattern but the bulls are saving the tightening daily chart. As described in the video yesterday the current BTC setup on the daily is a bit of a grey area, while names like ETH and XRP have a much more clear daily equilibrium. I personally am still viewing this as a daily equilibrium due to the patterns of those other names. Bulls need another leg up to change trends on the 4 hour chart.
COINBASE:BTCUSD
by TheChartGuys
10
#LTC - Litecoin Trade - CoinbaseLitecoin is making an uptick today though not quite beating out the prior day candle, but i'm going to take a bet and enter around $59. We just broke over the 20 day moving average, a bullish sign and he BB% has been trending up the past week. The average true range sits around $4 and the volatility is low at this point, so the swings will not be to great. My aim is the upper band around $64 which if the momentum continues could be about 2 days until i look to profit. My stop sits around $54 in case of a breakdown.
COINBASE:LTCUSDLong
by UnknownUnicorn2091450
2
#ETH - Ethereum Trade - CoinbaseEthereum is showing some signs of life today with about an even bullish candle to the prior day. Price has recently pulled over the 20 day average, a bullish sign, and may break the prior day opening. BB% has been trending upwards over the past week overall as well, another good sign. Average true range is low in volatility and sits around $18. My aim is the upper band which is around $249, and with the average true range if bullish momentum continues i can hit my target probably in about 2 days. My stop is down near $202 in case of a breakdown.
COINBASE:ETHUSDLong
by UnknownUnicorn2091450
#ETC - Ethereum Classic Trade - CoinbaseA small bullish candle is forming just about to engulf the prior day candle. I enter around 11.12 though we are two cents below the 20 day moving average. I believe we will see continued support here as the BB% still has an upward trend. Average true range shows low volatility with an average daily move of 58 cents. I aim for the top band around 11.80, so if the momentum continues i may see my target in about 2 days i'm guessing. My stop is set near 10.44 again if we see a breakdown in trades. This is a little more risky as we have not moved over the 20 day average, but since the overall trend has been up the past week i'm giving it a shot.
COINBASE:ETCUSDLong
by UnknownUnicorn2091450
#BTC - Bitcoin Trade - CoinbaseWe have a small bullish candle forming today that has engulfed the previous days candle. We find ourselves moving above to 20 day moving average which is another bullish sign. BB& also has a sharp tick up and the history has shown higher lows on this indicator showing there has been some decent sustained upward movement over the past week or so. I entered at $6551, aiming for top band which sits around $6788. Average true range is around $205 so the overall volatility is still low and been declining but if I get the average move I could see the top band hit within two days if the buying pressure continues. I'm still bullish at the moment as long as the daily price remains above the 20 day average. I have a stop set around $6305 if there is a breakdown.
COINBASE:BTCUSDLong
by UnknownUnicorn2091450
#BCH - Bitcoin Cash Trade - CoinbaseI entered today around $532 dollars as we see a positive candle forming and is still above the 20 day average. The BB% overall has been on a positive incline even after the recent correction. Volatility overall is still low, so the move will not be to grand at this time. The average true range is around 49.60 meaning that the average swing in either direction at the moment. My aim is the top bollinger band which will or can change over time, so when the BB% mark passes into overbought territory is when I plan to take profit. I may add to the position if the price falls and holds above the 20 day moving average. My Stop is around $480.00 if the trade falls apart.
COINBASE:BCHUSDLong
by UnknownUnicorn2091450
BTC Bears with Short Term ControlWe saw a break of daily support last night, which has shifted the daily momentum. The bulls are pleased there was not any significant follow through on the break, but it is clear the bulls are struggling a bit. From here on most coins the bears have control as long as the 4 hour chart is setting lower highs. Step 1 is to change the 4 hour trend. We are fading closer and closer to key support $6,106 on BTC and a battle at $6,000 is looming. Bears are in comfortable positions where they can exit if the 4 hour trend changes and they give themselves the possibility for a break down under $6,000. We will likely not see many shorts cover without seeing the daily resistances break for the bulls. Personally all cash and patiently waiting for the daily and weekly charts to give more clear signals.
COINBASE:BTCUSD
by TheChartGuys
6
BTC Clear Daily EquilibriumBTC continues to tighten in the daily equilibrium as both bulls and bears remain patient. With a bull break we look to $7k and the weekly lower high of $7,400. With a bear break $6,000 should be tested. We are looking for a break either today or tomorrow and this morning the bears are starting with a bit of momentum. Multiple tops on the 4 hour show a rejection from resistance at $6,640 which led to the shift in momentum. If we break the daily EQ bearish we will lose the higher lows on the daily which will result in a new weekly lower high being set. Every day that goes by we get closer to the weekly pattern breaking, and now is the time to be paying very close attention because all the action can come out of nowhere one day.
COINBASE:BTCUSD
by TheChartGuys
14
#LTC - Litecoin Long Term ReviewLitecoin has officially entered a critical level. I love bollinger bands and I feel they work very well for crypto, so we see watch the 20 month average, which we sit just above right now. As with most coins, it has been a long term drop from their all time highs. We hope to see support at the 20 period average which were only two dollars over it at the moment, though the last few weeks have been good for the coin. The weekly chart has been grim, well below the 20 week average. the last three weeks have been good, but unless we see a break over $80, and sustained, Litecoin will have a long term bearish outlook.
COINBASE:LTCUSD
by UnknownUnicorn2091450
#BTC - Bitcoin Long Term ReviewWe see a lot of charts showing the daily outlook of Bitcoin, but not many people are talking about the long term. We say the coin is bullish or bearish, for right now I am still bullish on Bitcoin, just believe we are still in a long term correction. Since the all time high, every month has either been lower than the next, or equal. Many short term opportunities out there but the long term outlook has been bleak. Why am I still bullish on Bitcoin? We are still above the 20 month moving average. Right now that average is under $4900, and we have been holding pretty strong above the 6k mark for the last few months, but volatility is on a sharp decline. This tells me that trading is slowing a bit but anyone who knows bollinger bands as volatility starts to drop its a sign of things to come, meaning it has to expand eventually. This change can go either eay, bullish or bearish, but it will come. We can see this more on the weekly chart. The bands are constricting more each week. The BB Width chart is dropping almost to 0 which is the indicator showing the drop in volatility. As you can see here, there has barely been a break in the 20 week moving average. As the bands continue to constrict on the weekly chart we will get a better outlook as to the longer term direction of bitcoin, though if we remain under the 20 week average chances are, were going down. Though if we find ourselves above the average, we may see the bullish move everyone has been hoping for. Now though there is still money to be made daily, though i wont hold coins for long. Get in, make your profit, get out.
COINBASE:BTCUSDLong
by UnknownUnicorn2091450
1
BTC Daily Inside Bar Likely BTC is bouncing but it is not doing much impressive on the 4 hour chart. We are making our way to test EMA resistance for the first time on this move. If we reject and just set a 4 hour lower high, the bears remain in complete control. Some individual alt names like EOS, ETC, XRP, XLM all saw individual pumps and bigger moves than BTC. The daily inside bar is likely due to the range of yesterday's candlestick. Bulls will need to break it bullish in order to see a bounce on the daily and the anticipated lower high set. At this point bulls can be scouting alts for pumps but as for BTC I do not see a bullish entry at these levels. Bulls are better off patiently waiting on the daily chart to gain more favor. Without news it is likely we will not head back to the recent high this week.
COINBASE:BTCUSD
by TheChartGuys
4
BTC Bears back in controlThe loss of the 4 hour higher lows marked the top on the daily chart and the bears are dropping the price significantly due to lack of support. The bulls will have to change the 4 hour trend back in their favor in order to be looking for a tightening daily range. On any bounce we will be looking for a 4 hour lower high to keep the bears in control. The odds are back to favoring the bears on the weekly chart, but it will not be game over for bulls until supports break. Oversold bounces have no appeal to me personally in this market environment. This is the most patience I have ever exhibited in the crypto space and it is easy for me at this point because I set a rule and now I react to it like a robot. "Are we still in a tightening weekly pattern?" If the answer is yes... I do not enter any trades bullish. Liking BTC ETH and XRP to be the sentiment gauge for the crypto space. ETH and XRP showed us weakness on the 4 hour before BTC did yesterday.
COINBASE:BTCUSD
by TheChartGuys
9
BTC Daily ConsolidationAfter a daily inside bar bear break, and loss of 4 hour higher lows, we are now seeing daily consolidation on BTC. We are back testing EMA support, and so far the bulls are buying the hourly oversold RSI dip from the support break. We have to be cautious as there is a lack of support in this area. Bulls need to change the hourly trend to be looking for our daily higher low to have formed. The more we pull back from here the less likely a bullish continuation move on the daily occurs. There are still no major red flags for the bulls at this point, but the 4 hour loss of support is enough that some bears have entered positions on the weakness. Alts are still providing more volatility, with some bear breaks leading to 5-10% drops fairly quickly. Bulls will have to change the 4 hour trend as well to regain control. Bears control the mid term time frames as long as 4 hour lower highs remain. If bulls not in on hourly oversold or bears are not in on the support break... it is time to be patient while within this current range.
COINBASE:BTCUSD
by TheChartGuys
5
BTC Bulls Go On OffenseAfter some time on the defense and BTC bulls holding supports, we finally see some offense. Significant bull break on the daily over $6,580 to bring us to the middle of the weekly range. This is going to make the next few weeks VERY interesting. The move from crypto to MJ was very clear last year, and the potential for a clear move back from MJ to crypto may present itself. From here we will look for healthy 4 hour consolidation, and the bulls have lots of space for a daily higher low when consolidation comes. Keep an eye on Ripple (XRPUSD) as it led this bull move which is notable. Everyone move we get from here over $6,750 will shift the odds a bit more towards a potential bull break. Honestly it does not appear like it would be too difficult for the bulls to put enough pressure on the shorts to have to cover, but we may still have another few weeks to go. We must remind ourselves how easily the bears have been able to push it down as well. I personally will go in heavy bullish if the weekly trend changes.
COINBASE:BTCUSD
by TheChartGuys
8