TheChartGuys

TheChartGuys

The fear index is crushed as the bulls battle to hold the daily equilibrium and try and form a higher low heading into the weekend. If bulls fail we will likely head to daily oversold conditions and a $9,000 test. If they are able to hold we will likely see a break of the range Saturday or Sunday. Still all cash and patiently waiting for the tightening range to...

TheChartGuys

Loss of the 4 hour uptrend was the first indication, followed by a 4H lower high and lower low... into a solid dump. These were the indications the daily lower high had been set, and it sure feels like the bears have had an easier time than the bulls as we work through this tightening daily range. I would expect a higher low compared to $9,470 at least...

TheChartGuys

Consolidation on BTC and a loss of the 4 hour support. If we break the pattern of a higher low every day, our daily lower high in the tightening range will be set. The break in this pattern will likely be what leads me to take the rest of my BTC position off and patiently wait all cash for a break of the tightening range. Still keeping an eye on the tightening...

TheChartGuys

After the first 3 days of the bounce started shaping up as a potential bear flag, the bulls are breathing a sign of relief for the bounce follow through that is making the daily equilibrium more likely. Bulls are looking for one more push to the low $11,000s to get to the midway point within the range. Watching the 4 hour uptrend to see how long the bulls can...

TheChartGuys

BTC is in a dump on the 4 hour time frame as we look for a daily higher low to form after the 12 day bull run to start the month. There was a notable inverse correlation between BTCUSD and ETHBTC last night, as ETH and LTC are getting some relief by not dropping as much as bitcoin. We will continue watching the BTC pairing charts of these names for clear daily...

TheChartGuys

BTC currently in a clear 4 hour downtrend, and I am continuing to either wait for 4 hour oversold conditions, or a change in trend on this time frame before I make an entry. Daily consolidation still underway with the pattern of a lower high every day. Daily EMA12 support being tested again this morning. It would require a break down to the upper $10,000s to...

TheChartGuys

BTC consolidation all weekend with no red flags for bulls at this point. Watching daily EMA 12 support which continues to hold. Using both it, and EMA 26 as a guide for this consolidation, bulls happy as long as we keep closing over these levels. We are watching the daily pattern of a lower high every day the last 7 days. This pattern breaking will be an...

TheChartGuys

To those that do not know technical analysis, this chart may look cluttered and confusing. Every line is a bounce or rejection in a smaller and smaller range. There is a break imminent, likely tomorrow (Saturday). We will look for a volume break associated with the break, and we will have to see all levels in that direction break in order to believe we will get...

TheChartGuys

The 4 hour line in the sand support broke yesterday, leading to a dump and 15 min RSI in the teens as hourly RSI hit right above 30. First hourly oversold bounce from a 7 day bull run got a lot of bounce follow through as is usually the case. Now we have a daily inside bar and I am watching the "Higher low every day" pattern. A break of $11,187 today would...

TheChartGuys

Continued buying to keep an extremely strong 4 hour uptrend and full control of the bulls. Our new higher low is $11,565, and as long as the 4 hour uptrend remains, the bulls are extremely comfortable. The narrative of China moving to Bitcoin, and fears over trade wars continues to stoke some FOMO, and this is with the stock market bouncing overnight as well. I...

TheChartGuys

BTC dominance continues with pairings hitting lower lows while BTC confirms the double bottom at $9k is the low for now. Limited resistance until 2019 highs in the low $13,000s. Bulls continue to buy the 4 H higher lows and 4H EMA12 support is a great visual guide for us to determine if the bulls are keeping full control. Just a quiet 7 day bull move, shaping up...

TheChartGuys

Bulls holding on to their slow and steady momentum, with about 5% space above the last clear 4 hour higher low. This means even if we see a consolidation day today the uptrend can remain intact. This is the most important time frame for me into the weekend as it will give us information on the likelihood of the daily equilibrium forming or not. With the BTC...

TheChartGuys

Healthy consolidation overnight has the bulls looking for continuation this morning. If we fail to break resistance and instead break the low of consolidation so far, it would be a red flag for bulls. Eyes on LTC as we only need about 6-8% for a daily resistance break... BTC needs 10%. LTCBTC chart also has potential for a bull break as discussed in the most...

TheChartGuys

BTC remains slow and tight the last few days as a break feels imminent. Watching for a volume spike that lasts more than 1 candle on the 5 minute chart. Still short term choppy action but the bulls have a clear hourly uptrend as a guide to be watching. A trend change on the 12H chart would be notable for the potential that the $9k double bottom can hold. Bears...

TheChartGuys

Declining volume, and very tight ranges will have us looking for a volume spike and break of the short term range sometime likely in the next two days. If we see a bull break, we can stay in the contained tightening range on the daily for quite some more time/ With a bear break we would look for 4 hour oversold conditions, and many traders are watching for the...

TheChartGuys

There has been a lot of choppy action, short term volatility, and big spikes on 5 minute candlesticks. This creates an unclear trading environment on the shorter term time frames, and a trading environment where technical analysis is less of a useful tool. I personally took months off from trading last time this was happening. I certainly dont expect to take...

TheChartGuys

The amount we have pulled back from the initial bounce forming the daily higher low is a bit of a red flag for bulls. We are seeing a lack of follow through and no confirmed 4 hour trend change on many names. If we do not see a solid bullish Friday and weekend, we will be looking back to the recent lows of support, followed by the low of consolidation support....

TheChartGuys

Bears have had a firm grasp of control the last 3 days as we look for a daily higher low to form. We currently have another potential 4 hour bear flag forming. I entered into some smaller BTC and LTC short term bounces last night just looking for a flip. I decided to lock in 1% quick on half and set a stop break even under the lows for the 2nd half which have...