TheChartGuys

TheChartGuys

BTC has been consolidating after the temporary bounce top on the daily and the way the 4 hour chart has been in a downtrend, without bears getting much follow through, has lead to scouting for a daily higher low. Remember the bounce leaders like ETH, XRP and others have been setting little daily higher lows on their way up while BTC just went straight from the...

TheChartGuys

BTC bulls defending support with a solid 3%+ bounce off the lowest price we have seen on this pullback. We still have the top of the bounce resistance to be watching at $8,343 and as long as that level is resistance, the bears have the upper hand on the daily chart. If bulls are able to break it, we look to daily EMA resistance. The short term action will likely...

TheChartGuys

After the weekly p [pattern bear break and dump yesterday,, BTC is now finding a range but still has hourly EMA resistance. The bears still have control and it is entirely possible we see another leg down. Have your game plan set to go! With daily RSI oversold I will be looking to reload some BTC as well as ETH if we see another leg down. If this occurs I will...

TheChartGuys

These two levels are THE range to be watching on BTC as we head into Q4 2019 to dictate momentum to end the year. Bears had full control yesterday, and we have yet to see much meaningful bounce on the hourly and 4 hour charts. Bulls backs are against the wall and they must defend this level to remain inside the pattern. I will have to see a 4 hour trend change to...

TheChartGuys

Over the last 17 days, 15 of them have seen a lower high compared to the previous day for BTC. With that fact it is pretty impressive we are still holding up within the tightening pattern, but bulls must show up and regain a 4 and 12 hour uptrend if they hope to remain in this pattern through this week. We are slowly fading back down to our recent low, which has...

TheChartGuys

Bulls need a 4 hour trend change to be looking for the daily higher low. If we get it today or tomorrow we will look to stay within this daily range until weekend. While we remain in this tightening range, Alts continue to have some slack to make their own moves. ETH and LTC continue to have goo weeks, and today we are watching to see if LTC can play laggard and...

TheChartGuys

BTC sideways trading as volume continues to decrease. Break is imminent today or tomorrow which will tell us either: 1.) Our daily lower high is set 2.) Our daily lower high has not been set We will still expect to stay within the broader equilibrium a bit longer even after the daily inside bars breaks. While trading sideways, some of the alt coins continue to...

TheChartGuys

Bulls changed the 4 hour trend to give us a clear higher low, and the daily range continues to tighten. We will look for the daily lower high to be set when the 4 hour uptrend is lost. It is currently consolidating and looking for a higher low. ETHBTC and LTCBTC have been consolidating on the daily looking for a higher low to try and eventually change the daily...

TheChartGuys

Weakness continues in BTC as we do not have any indication of a daily higher low being set yet. 4 hour EMA resistance continues to reject the price, but the bears are not getting much follow through to the lower lows. BTC bears are using 4 hour EMA resistance as a guide. Volatility in general is likely to shrink the next week or two in my opinion. ETH, LTC and...

TheChartGuys

BTC continues to tighten from the range set yesterday. We have EMA resistance on the 4 hour, and bulls are currently trying to hold the higher low of support and stay within this range through the morning. We must see a bull break for our daily higher low to be set. While we have traded within this range, LTC moved to a higher high, while ETH remained in a...

TheChartGuys

BTC pulling back to lower lows on this consolidation, which is getting to a point where bulls need to show up and change the 4 hour trend. This would give us a daily higher low that we were patiently waiting for on the move up. Still watching LTC and ETH gain some relative strength vs. BTC and that is where my interest has shifted in the shirt term. I am still...

TheChartGuys

Daily inside bar bull break and continuation for the bulls, shifting sights to resistance $10,953. The pattern of a higher low every day for the last 8 days remains intact, but we still do not have a clear trend change on the daily with a higher low and continuation. Get over $11k and our focus shifts to key weekly lower high resistance of $12,300. Bulls are...

TheChartGuys

A few flushes overnight for the 5 and 15 min RSI to get oversold again, with each time resulting in some bounce. This shows us the bulls are keeping control and there are dip buyers stepping in. Expecting a daily inside bar to form today and if it does, how it breaks tomorrow will indicate if this move has topped out and daily consolidation is underway... or the...

TheChartGuys

A very impressive day yesterday for the bulls, creating tons of space above key $9k support, and increasing odds significantly that when this move does top out, a daily higher low will likely form. Note the daily trend change will still be needed for the complete shift in momentum back to the bulls, with a clear daily higher low and higher high. Anything under...

TheChartGuys

Overnight the BTC bulls held the low of the dump and broke the high of the 4 hour resistance. We have not seen much follow through yet as we are testing 4 hour EMA resistances. If we get over those levels we will use the daily to be watching for a lower high to form. The bullish play in this range is either bottom fishing $9,000 or waiting for a daily trend...

TheChartGuys

After a break of short term resistance with no follow through, we are heading back down to test recent daily supports. If these levels hold we will remain in a tightening range for the week. This could be a bullish scenario for some alt coins as sideways bitcoin allows for altcoins to trade on their own without significant correlations. If support breaks we will...

TheChartGuys

The break in the tightening daily range happened when it was expected as far as timing goes, and favored the bulls in a quick, high volume move. One thing missing... follow through. Look at the move on the 5 min chart. The vast majority of the price action and volume was on one 5 minute candle. We went from $10,116 to 10,680 in 25 minutes, and never saw a higher...

TheChartGuys

BTC Daily chart continues to tighten so not much to update at this point. Bulls changed the 4 hour trend but saw no follow through, which normally means zoom out and look for a daily bear flag. The odds have a slight favor for bears where we currently stand, so a bit more follow through over $10,255 would be needed to even out the probabilities. If we see a...