ETH 15 min EquilibriumBeautiful clear equilibrium as the bulls look to find range after the dump.
Bullish entries on the breaks of lower highs.
Watching BTC in the same pattern as the sector leader.
Patience while the pattern tightens and develops.
Cryptocurrrency
BTC 15 min EquilibriumHigher lows and lower highs, tightening range as the market finds its footing in this new price range.
No bull entry for me without a break of these lower highs.
Looking for a break in the next few hours to dictate direction for the day.
BTC leader, ETH and LTC to follow in my opinion.
ETH Healthy ConsolidationBulls in control but still multiple resistances under $400 psychological.
If the bulls can break the correlation to BTC when BTC begins to consolidate, I believe we will see a run at all time highs in the next week.
In order to break the correlation, a surge in volume will be needed.
Always watching the correlation as a rejection of BTC from $5,000 is anticipated.
BTC Blue Sky BullsAll time highs continue as the bulls are seeing healthy consolidation on the move, with little signs of weakness.
Cautious as we approach $5,000, I would anticipate profit taking and a rejection on the first attempt.
Trend line and consolidation supports to watch on the chart, also use volume for clues.
Walking stop losses up to protect profits.
Does XMR (monero) got enough feul to stay in the channel?Does XMR (monero) got enough feul to stay in the channel?
LTC Bullish ConsolidationLTC and BTC bulls trading off all time high runs.
I traded LTC $63 to mid $66s and have flipped back into BTC and ETH this morning while LTC consolidates.
This staggered run pattern between these 3 bulls is ideal for trading back and forming between them to catch bull momentum, and skip consolidation.
Watching for a pattern to tighten up today and give a clear break this evening.
ETH Tight but BullBulls enjoying the BTC correlation of strength.
In a tight pattern after very healthy consolidation over the last dozen hours.
Support on the hourly established at $382 before this bull move started.
Slow and steady without significant surges so far this morning.
Currently in a BTC and ETH position.
BTC ALL TIME HIGHSCongrats bulls!
Hourly Cup and Handle had the psychology of a rejection, normal healthy consolidation, before a breakout.
Not seeing the big gains like we do for LTC all time highs, but the bulls will take slow and steady.
$4700 psychological resistance, with a consolidation low of $4665 and the nearest support.
LTC 4 hour Higher LowsBulls remain in full control as long as this pattern keeps up. Current support is $62 and the bulls are trying to confirm the bullish reversal hammer.
Scouting the 15 min lower high pattern for a higher low, higher high and bullish signal for entry.
Multiple daily inside bars to be watching for a break.
ETH Consolidation and CautionNo red flags for bulls on consolidation at this point, still healthy after a very extended 4 hour chart, and RSI to go with it.
This potential bearish pattern will see clear confirmation if we break $368 support.
Multiple consolidations have bounced off this point, so bulls remain in control as long as it holds.
BTC Consolidation Healthy consolidation after the breakout yesterday. Recent breakouts have not been multi-day runaway events like we saw with LTC.
Multiple tops has signaled consolidation at all time highs the last two times for BTC.
Looking for a bullish reversal candle on the 4 hour to indicate a new higher low is likely established.
NEO News DumpOversold dump giving patient bulls an opportunity for an oversold bounce.
4 hourly oversold RSI combined with every smaller time frame, was a by opportunity with other clues like volume climaxes and hold of support.
I personally would just be looking to capitalize on this profit in the short term for an quick flip and then step back and watch the likely equilibrium tightening pattern form.
News was China may stop access to ICOs.
LTC still consolidatingThe spotlight has gone to ETH overnight and potentially to BTC if we see an all time high test.
The big 3 are taking turns running which makes it much more beneficial to be a trader and hop around the the name that is running.
Looking for the hourly lower high pattern to break and for a bull MACD cross to follow through as a signal consolidation is done for now.
Our attention will be back on LTC shortly.
BTC Bulls Getting Close to All Time HighsNice bull break from a tight 4 hour pattern this morning.
Watching for ETH profits overnight to move to BTC, which is what I personally did this morning, liking the Risk to Reward better on BTC than ETH in the $360s.
If we cannot break $4400 this morning, all time high will become less likely.
A break of $4350 will lose the higher low pattern on the hourly, which is what dictated my morning entry.
LTC Healthy Overnight ConsolidationPotential bull flag on the 4 hour chart with a bullish hammer being confirmed.
Bulls need to break the hourly lower high to indicate we are heading back to recent resistance at the all time high.
Looking for a 4 hour equilibrium pattern and a lower high compared to the all time high as we continue to consolidate today.
BCH Bears have Momentum, Key SupportBCHUSD is close to a bear break if we lose $610.
We continue to set lower highs, $711, $704 and pull back.
At this point there is no bullish entry unless "bottom fishing" $610 support. With a bear break we will need to wait for a new support zone to be established.
Daily chart has still not confirmed a bullish reversal candle since consolidation started.
BTC BreakoutTrade highlighted in the video: www.youtube.com
Resistance from here is $4272, and not many levels before all time highs.
The bulls are fairly extended on this 2 day bounce so cautious on any entries up here, just looking for short term gains.
Bulls want to hold $4200 to keep the higher low pattern intact.
NEO Key resistance test approachingAfter 6 days of consolidation from all time highs, we are getting the first signs that the bulls are ready to confirm they have established the higher low on the daily chart. We must see a break of $42 to confirm this, but we are seeing our first signs on the hourly with a higher low set and some bullish action following it. If we get a break of $42 we will look for a lower high on the daily compared to the all time high, and an equilibrium pattern to develop. I will be back to highlight this if we get the break!
Bitcoin Cash 12 August 2017 - stand asideApologies for those who love Bitcoin Cash I'm not a big fan of it as it stands today (tomorrow is another day I may love it).
I was asked to comment on Bitcoin Cash so for what it's worth there is a Risk Reward 1:1 trade.
Now for me, this is NOT a trade I want to take, for several reasons:
a) I think BCH is finding its feet and I don't want to tie up my capital while it does
b) there isn't enough data to objectively assess its direction
c) I am not interested in Risk Reward 1: 1 trades - there just isn't enough meat on the bone
Now I may be wrong and it may explode but it can explode without me, thank you very much.
Be discerning look for quality trades not just throw darts at a dartboard. So this is a stand aside trade ie no trade.
Hope this helps,
Sean Vengan
Professional Cryptocurrency Trader and Trading Educator
SegWitWhat? Fear Fizzles and Ethereum Breaks ResistanceSeems like all of the short term fear of SegWit2 disruption is fading which could be very bullish for crypto-currencies. In the short term, Ethereum has broken the resistance line which is bullish but we will need to see future support levels to validate this move.
Let me know your thoughts!
Steve W.
