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ETH Multi-Day 4 hour Equilibrium ETH has been forming a tightening pattern on the 4 hour for 2 days now, much long than BTC. Recognizing this pattern forming and knowing a higher low would be needed was a partial clue for yesterday that BTC was not going to see much follow through to lower lows. Now the entire sector is getting tight and we can look for potential clue if we see ETH break first, as there is much less space to trade within currently. I will consider playing the EQ break on ETH but I will ensure BTC breaks in the same direction so we can see follow through. A game of patience today as everyone holds their breath. Burden of proof is on the bulls for a break AND follow through.
COINBASE:ETHUSD
by TheChartGuys
2
BTC 4 Hour Equilibrium WatchAfter dropping down to a lower low yesterday with little follow through, we have a battle to try and establish support. Previous resistance in the low $6,800 range is currently acting as support. Looking for a potential 4 hour lower high to be set this morning and for the range to continue to tighten. We should get to a point where a bull break will clear EMA resistances, but RSI levels will also all have cooled off for the potential of another leg down. The BTCUSD Shorts chart is still very extended and we will see shorts have to cover if we do get a bull break. Currently in a small position and the more clear the equilibrium gets, the more traders we will see act on it when it breaks.
COINBASE:BTCUSD
by TheChartGuys
7
ETH Clear 4 hour Equilibrium ETH is holding up better than BTC and patiently waiting for a real bounce to get going. ETH bulls want to see the 4 hour lower highs break on BTC so ETH can follow along. Looking for a break of this equilibrium later this evening, but note that a break without clear direction from BTC should be taken with a grain of salt. We must see BTC go in the same direction for follow through. Risk to reward favors bulls more than bears for this particular setup, as the downside reaction will likely be a bit limited after all the pullback we have seen last week. No rush for traders while we wait on this pattern.
COINBASE:ETHUSD
by TheChartGuys
2
BTC 4 Hour EMA Resistance ContinuesBTC continues to reject from 4 hour EMA resistance, which keeps the bears in control and confident. There is no reason for shorts to cover if bulls cannot get over this resistance. This also ensure we just continue to set lower highs on every bounce attempt. Looking for the potential for a 4 hour equilibrium setting up this morning if the low of the pullback to this point can hold. The declining bear volume on this pullback is a reason to look for the potential 4 hour equilibrium. Very weak bounce attempt at this point on the daily with no follow through. I personally had sell orders $7,100-7,200 last night anticipating this resistance and most of them filled. I personally will be very patient and trading other sectors while waiting for the next clear setup.
COINBASE:BTCUSD
by TheChartGuys
1
$BTC - Bitcoin Weekly Update - BittrexLast week was a heavy dump, but we may still keep the higher low pattern as we are starting the week on a small but positive note. We are above the 10 week moving average and must remain above it to maintain a longer term bullish sentiment. That means we need to end the week above 6850. The week would need to break the 20 week moving average above 7470 approximately. If we do break support below the 10 week moving average, the weekly support at 6k is our hopeful bottom as it has been many times over the last few months.
by UnknownUnicorn2091450
$ZRX - 0x Protocol - Daily Analysis BittrexZRX has been on a nice run the last four days recovering its heavy loss five days ago. RSI is about to pass over the 50 mark which is a bullish sign and were breaking past the 10 day moving average. I am going to gamble a small purchase here as the only concern i have is that volume has been on a decline the last three days, but on Bittrex the order book is heavy on the buy orders telling me their may be a demand for the token right now. If I buy in now and we hit the next red resistance zone, that would be a 9% increase.
by UnknownUnicorn2091450
$DCR - Decred Daily Analysis - BittrexWe are finding ourselves in another support zone for Decred here. The issue i see as we have touched this zone a few times this week alone but the 10 day moving average has been a heavy line of resistance for Decred but as it slowly moves down into the support zone, this may act like a squeeze and either we will find support here and get a breakout above the 10 day or we will break through support and continue the trend. If support breaks, the next purple zone is the weekly support below. I am waiting to see if current support holds and we break above the 10 day before looking to make a purchase.
by UnknownUnicorn2091450
$ETH - Etherum Daily Anaysis - BittrexEthereum has been on a roller coaster over the last month losing more than half its value over the last year, though so many altcoins are based off the network i feel it will be one of the few that may last. Lots of altcoin values people say reflect the value of Ethereum as well so when we see ETH doing well over BTC altcoins tend to move the same way. On my chart here i have zones setup. Green is for current support zone, red for resistance and a purple support zone that reflects weekly support area. Ethereum has been in this support zone near the bottom for the last few days and today we have a possible reversal candle forming here but the last few days even when there has been a reveal we could not break through the zone for continued gains. I may take some buys here to accumulate some Ethereum even if this support zone breaks because right below this is the weekly support zone which tends to be stronger then daily. OBV is starting to slowly tick up and RSI shows flat, but this candle still has 6 more hours to run before we see the next.
by UnknownUnicorn2091450
$BTC - Bitcoin Daily - BittrexWe have seen a pullback with Bitcoin the last week, but in my opinion its a healthy one as we are pulling back to a swing point and we have not broken beneath it yet. I say we are in a decent buy zone right now and I'm going to place a smaller buy order today. The buy zone ranges from 6830 to 7050 as seen by the green box on my chart, though the 50 day moving average helps support we could see support in this region as its trending up and moving through the zone now. Plus we have the bollinger bands starting to squeeze supporting the 6830 support line. This also shows volatility is starting to decrease and as the squeeze continues, could be a future sign of breakout conditions, though its still to early to tell if this will happen. The one hour and four hour charts also show the RSI are in oversold conditions, so I hope to see some bounce happening over the next day or two.
by UnknownUnicorn2091450
ETH $400 BreakETH has broken a key support level and confirmed the weekly bear flag we have been eyeing for a few weeks. The good news for bulls is we did not see many stops trigger under this level. There was a solid bounce from the low to the tune of 3%, but BTC keeps just forming 4 hour lower highs. With BTC consolidating, and the sector already sharing a bearish correlation, bulls dont have a lot going for them right now. ETH is nowhere close to changing the daily trend bullish, so keep this in mind when establishing trade game plans. Congrats to the bears who have recognized correlation and capitalized on the clear ETH weakness. I personally would be waiting for a little bounce on the daily before entering any new short positions.
COINBASE:ETHUSD
by TheChartGuys
BTC Potential 4 hour Bear FlagBTC keeps seeing weak bounces to cool off RSI levels and allow for another leg down. We must be cautious as the current 4 hour chart can easily be another bear flag. I only just had my bids start filling under $7,300 so with the bounce I pull the remaining bids and drop them down a bit lower. After 6 red days in a row we are looking for a bounce to give a couple green days and lower high on the daily. At this point if I were a bear I would only be looking for an entry after a little daily bounce. Bulls make sure and remember the weekly lower highs is set, and we are now in consolidation mode. Very interesting to watch the ETF talk disappear as the price drops... even though we are getting close to our first decision. Remaining, patient, protective, and not playing large positions.
COINBASE:BTCUSD
by TheChartGuys
1
ETH Continues Lower Highs ETH continues to be a lead bear in terms of having the bears in control of most time frames. 4 hour this is very clear with lower highs consistently, with bounces that do not even reach EMA resistance. Only hope for the bulls in the short term is a higher low and break of $424.61. We will see some shorts cover when this trend breaks, otherwise there is no reason for them to cover. After $400 the next support is $360. Weekly bear flag not confirmed yet but very close. Bulls remain patient and lock in short term profit while they have it.
COINBASE:ETHUSD
by TheChartGuys
BTC Bounce Development Yesterday we had a bear trap where we broke to a lower low, and instantly the bulls aggressively bought to get the bounce underway. We rejected from EMA resistance which is recent videos I have suggested as an area bears look for re-entry when RSI cools off. Now the bulls must form a higher low on the 4 hour to either give an equilibrium or try and see bounce continuation. EMA resistance will remain key on any follow through attempt from here. Potential for a daily inside bar to form today which will be on watch tomorrow if so. Currently still in a smaller position in the green and letting things play out a little further on the 4 hour. Break even worst case at this point. So far this bounce has limited follow through keeping the bears comfortable.
COINBASE:BTCUSD
by TheChartGuys
8
ETH Oversold Bounce AttemptETH solid bounce from more extreme RSI levels than BTC. We have also seen less consolidation on this move so the current hourly chart is more favorable to ETH. Bulls are attempting an hourly bull flag to form a higher low and see continuation. Even if accomplished, we will still be looking for a 4 hour lower high to be set. Potential bullish reversal candle on the daily if the bulls can hold this bounce through today. Bears are patiently waiting for the 4 hour lower high to be set to enter a position.
COINBASE:ETHUSD
by TheChartGuys
BTC Weak Oversold Bounce, Need Hourly Continuation BTC is seeing a weak bounce with the hourly rejecting from EMA resistance and the 4 hour RSI still in the mid 20s. Bulls have to form an hourly higher low and see a break through the top of this bounce for continuation. I scaled into two positions last night, 1st avg. $7,550 then I set sell orders upper 7500 to mid 7600 follow by more buy orders in case we break $7,500. I was comfortable doing this due to hourly and 4 hour RSI at the time. This leaves me with 25% of the position left and an average under $7,500 so I am comfortably patient. If we see another leg down I will look to add more, for the inevitable 4 hour bounce. We will anticipate a 4 hour lower high set once the bounce gets follow through.
COINBASE:BTCUSD
by TheChartGuys
8
ETH Drop Continues, weekly bear flag watch We are seeing the anticipated price action play out where even healthy BTC consolidation is causing significant bear breaks in alt coins due to the unfavorable correlation. ETH has lost the daily higher low pattern and has now taken out the previous two supports. This increases the odds that it is a weekly bear flag a good deal and if BTC loses the daily higher low pattern and starts weekly consolidation, it is only going to get more magnified on the likes of ETH in my opinion. It will take ETHBTC at extreme oversold levels for me to be interested in ETH again, but BTC has the spotlight until some ETF decisions. Bears are looking to enter short on weak bounces that cool off RSI levels.
COINBASE:ETHUSD
by TheChartGuys
1
BTC Bulls Need Low of Day Set for EQWe currently are fading from the V-shaped recovery last night, and bulls must form a low of day this morning in order to remain in the daily equilibrium tightening pattern. Patient bulls did a good job yesterday by not trying to jump in, or back in, with hourly still forming lower highs with resistance. The bears currently still have the upper hand for potential further consolidation on the daily, but we anticipate a fight as bulls did not give in yesterday. If we get another tightening day today we will expect a break Wednesday or Thursday but we have to see a decent bounce on the hourly this morning. Bears are comfortable as long as there is a wall of resistance at $8,200 and $8,290. Lots of alt coins to play bearish with a break to lower lows on the daily.
COINBASE:BTCUSD
by TheChartGuys
4
ETH 1 Step Ahead of BTC Down We can see ETH has broken bearish from the 4 hour range where we had support hold 3 times. A break of $454 support would have us lose the daily higher low pattern, which would increase the potential odds for the weekly bear flag. Bulls are not positioned well to absorb any weakness in BTC due to the lack of supports before weekly lower lows. Clear 4 hour lower highs to watch for an indication bulls are shifting momentum. ETH bears have been comfortable for a couple days now, which means the burden of proof is on the bulls to change things. Watching for a clear break of the BTC 4 hour range today.
COINBASE:ETHUSD
by TheChartGuys
1
Bull and Bear Battle RangeStill in a tight 4 hour range where we have seen a pretty clear battle between the bulls and bears. If you have been watching the $8,290 level, we see the bears literally waiting there to market sell every time we get close. This has happened two times in a row now and you can tell that is what is occurring because it is not like we hit a resistance level and stall out, we hit the level and then dump. If we see a break of $8,065 support we will look for a bear cross of the 12 and 26 EMA on the 4 hour chart. We would then look for a pullback to the daily higher low of support which is setting up for a little equilibrium. We would have to see lots of bear volume to just dump down to a lower low on the daily. Those in cash are patiently waiting for a break of the 4 hour range.
COINBASE:BTCUSD
by TheChartGuys
7