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BTC has a lot of resistance above as we dip a toe into May, which is a month that has some large downside in past years. BTC is also bouncing from one of the largest corrections since this bullrun as Tesla released their books that showed a 10% selloff, for whatever reason. In the midst of the selloff we also broke through major trend support and are still trading...

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ETH is showing a lot of strength here with a double bottom after testing the 2K support. However, BTC is showing weakness under 60K and pulling ETH down with it. If BTC can find a footing above 57K, ETH should be able to break the lower timeframe trend resistance and pump towards 2200. If not, ETH upward trend breaks and could send it towards mid 1900's

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Seems to have a lot of selling pressure to get past the 57K on this fine Sunday afternoon. Favoring shorts here since bulls have failed to hold the latest 2 minor supports.

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BTC is preparing the final move into the next trend. 4H close below 54K would set in motion a large weekend selloff as price dips below major trend support again. This would confirm a continuation of the downtrend to the .768 (42K) range since .618 has already been tested. But...bulls are pushing here. The fractal from the last rejection off this resistance...

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...done that.

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ETH has been dancing on some main support as BTC dips below its own. I see the possibility of two paths for this area. Ding ding ding, your right! UP or DOWN are the correct answers. As the market becomes worried, we may see a high selloff this coming weekend which may push ETH below support and into a descending triangle formation. If BTC is able to regain the...

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Could it be this simple? Of course not. BTC will make it difficult for both sides. Keep your head on straight and watch for a backtest of resistance. But I must say, we are far up from that 200MA and have not come close to it for quite awhile. My main concern is the sheer amount of bullish news we received in the past few months. It has obviously reached a peak...

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Seems we are right back to where we were in late January before the big push up. This time is interesting, we don't have the catalyst like we had when Elon twitted and Tesla broke news about purchasing. This was the driving factor in breaking some major resistance. Fast forward, we are again in a "correction" move and have recently broke under the 200MA and trend...

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Not much action this past weekend as the market decides which path to take. Indicators are looking neutral, with the MACD preparing for a slight bullish pivot. Sitting back and watching for a breakout confirmation. I'm leaning towards 51-53K range, but a test of ATH is near and very possible. The pattern most notable is the raising wedge which has formed against support

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Is this time different? These beartraps provide the needed push to keep moving on up. Lets see if it breaks above LTF resistance first...

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I thought it was too early to break trend resistance, but it seems the bulls have broke through. Now this could very well be a bulltrap, but I do see a similar bottoming as the last correction. However, I do still believe there will be another leg down. We tend to see much more selling pressure in the evening. If the break is true it should hold till tomorrow AM...

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I like taking trade setups that are easy to identify invalidation points. As we've hit a LTF liquidity area, it would now make logical sense to retest the local high. Simple trade. Invalidated with a break downwards out of the raising wedge. Upon a break upwards towards trend resistance, I'd move SL to the top of the raising wedge neckline to make it a risk-free...

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It's a fight for which Head and Shoulders will win

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This week will be a stressful one for most traders as we are on the brink of confirming the completion of a healthy correction or the confirmation of a downtrend. 51K will be the deciding factor. Fail to break 51-52K and the market is at risk of a clean head and shoulders setup which would cause a sell off to the mid 30's. A clean upward break would have the bulls...

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Bulls need some cheering up so here's some hopium. RSI is looking okay and bulls have the 200MA on their side. Wick down to 40K would cause a buy rush to break trend resistance. Sizeable bounce would be expected, but if weekly and monthly candles close as bearish as they are now, any sort of bounce should be taken as a deadcat only. I would not expect it to reach...

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BTC is failing at all back test levels and is not looking healthy. This keeps moving further away from a "bull run correction" and looking more like a pivot into a bear market. We're still a ways away from that point, but break 40K while closing HTF bearish and the bears will have a pretty good case. Just take a look at the last correction. There was a fight and...

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Will BTC keep a hold of the 45K support today? My money is on NO. Bulls failed to reach a good backtest (would have been a great short opportunity) and let it slide back down to support. Just not enough liquidity here...better try 40K

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Looking for a setup similar to this to break 45K towards 40-42K. PA is moving slow into the weekend. Careful with the low volume trading. It doesn't take much pressure to move the price in the opposite direction. Pay attention to MA, it's been solid resistance for the last couple days.