TheChartGuys

TheChartGuys

BTC continues to tighten and sometime within the next 3 days or so we will be looking for a volume and volatility spike to break this tightening range. Patiently waiting on the sidelines until then! A bull break will have us zoom out and look for a weekly lower high. A bear break will tell us the monthly higher low is not set yet and we will be looking back to...

TheChartGuys

The major coins continue to tighten up on the daily time frame, looking for a volume and volatility spike this week. Traders are hoping the spike on the daily will come as a result of this current 4H tightening equilibrium breaking. Bulls are looking for a higher low this morning, and we may see continued tightening range on this time frame into tomorrow....

TheChartGuys

BTC is still ping ponging in a tightening range as a result from the "Bart" pump, sideways, dump, bounce previous couple days of action. This is showing up as multiple daily inside bars as well just under daily EMA resistance. I personally will not be playing a break of this range, as it is the bigger picture daily range that I am waiting for a break on. I find...

TheChartGuys

The pattern from yesterday did not confirm and we have dropped to lower lows as a result. From here we will watch the continued 4H lower high pattern, keeping the bears in control as long as it lasts. I personally made a bullish entry $7,270 looking for the 4H trend change. In the end it ended up being a loss of $40 BTC dollars which is nice and manageable. I will...

TheChartGuys

Bulls are hoping a 4H higher low can form this morning to give the setup for the trend change needed to give us a daily higher low. Those wanting to be aggressive bulls are entering and risking $150 for this potential setup, because if $7,157 breaks we know the setup is incorrect. Even if we would just be looking for a daily lower high, the reward is potentially...

TheChartGuys

We had an hourly double bottom break without much bear follow through and then led straight into a bounce. When I see action like this it tells me the bears are tiring and it now has me scouting for signs of a daily higher low. There is still a lot of work needed (4H trend change) to be confident the higher low has been set, but aggressive bulls are going to start...

TheChartGuys

BTC yesterday formed a double top right at the high of the move, and then dropped to lose the 4H higher low support. This was enough to trigger the stop on my remaining position from $6,555 and lock in profit to be back to all cash. Since then, we can see the bears did not have any meaningful follow through and the break of support with no follow through means...

TheChartGuys

BTC is still trying to confirm the inverse head and shoulders but bulls have to keep it real... SO FAR this has been a disappointing bounce with a lack of follow through. Step 1 is break the 4 hour lower highs, and from there the trend change for the first time in over a week is essential. I am still in my half position from $6,555 that have have been a bit...

TheChartGuys

We must remain critical of bulls as they have most time frame trends against them, and yet again they have failed to change the 4H trend on a bounce attempt. 2 rejections in a row from 12H EMA12 resistance that has been rejecting the price for weeks. We have to see a turn around this morning or we will expect to just continue to fade back into the mid $6,000s. I...

TheChartGuys

After constant rejections for over a week, we are bouncing and back to testing EMA resistance which has kept the price contained. There is a lot of fear in the crypto social media space, but I have to be honest I dont really feel much of it personally. This is due of course to being mostly cash and protective while we try and find a monthly higher low, but I am...

TheChartGuys

The BTC bears are getting all kinds of follow through after a clear multi week 12H downtrend. I had scaled into 2 positions yesterday which stopped out just below break even while I slept. From here I am comfortable enough with the oversold conditions that I am beginning to scale back in some BTC positions. First entry in the $7,000s with 2 more positions set...

TheChartGuys

Weak bounce attempt that did not even test EMA resistance on the 4 hour. It is currently a bear flag fading back to test the recent lows, and the only hope for the short term bulls is to hold support, break the high of the bounce, and get over 4H EMA resistance. From there we would just zoom out and look for a 12H lower high to form with its own EMA resistance...

TheChartGuys

BTC continues to drop with every 4 hour candle a lower high than the previous one. I previously was not interested in a bounce play but now the conditions are right for me to set a few bids in the mid to upper $7ks anticipating we will get a 4 hour oversold bounce before 7,300 key support is tested in my opinion. Keep in mind because of the 40% move up, we have...

TheChartGuys

BTC bears keeping control as we see EMA12 rejections on the 12H chart and clear stair steps of lower highs on the way down. I am using the 12H time frame as the moves on the shorter term time frames are less clear in the past couple weeks of action in my opinion. ETH and LTC continue to hold on better, but they are not immune to the BTC pullback. Still watching...

TheChartGuys

In the past 3 days we had a bull break where bear bots turned on and smashed the price to lower lows.... which resulted in a big bounce. Now we have a bear break leading to a big bull spike in a 10 minute time period... with a fade since then. This is a very difficult environment to trade on lower time frames which is why I am personally sitting cash and...

TheChartGuys

BTC tightening range, which was anticipated after the volatility yesterday morning. How was this anticipated? We saw a big spike in volatility with a bull break, which kicked in the bear bots to turn into a bear break... and as soon as we saw the size of the bounce forming off the low, the range was wise enough to expect an equilibrium within the wide range. If...

TheChartGuys

We just had a bull break over the highs of the bounce, after a very sideways day yesterday, and it went straight into a bear attack of support. The last few days continue to show me there is a lack of any retail volume moving prices, and we see the bots and algos all just reacting to each other with some significant, but extremely fast moves. Even all the way back...

TheChartGuys

A "Bart-like" move with a quick spike up and then giving it all back. For me it has been zooming out bigger picture that has kept me from over trading in this current environment. Even after the recent spike up, we knew we were just looking for a daily lower high to be set. Now tht we have dropped to a lower low, the next bounce we will be looking for anything...