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Bitcoin Ethereum Litecoin XRP LINK BNB ZRX Technical Analysis Chart 10132020 by ChartGuys.com

Bitcoin Ethereum Litecoin XRP LINK BNB ZRX Technical Analysis Chart 10132020 by ChartGuys.com
Bitcoin Ethereum Litecoin XRP LINK BNB ZRX Technical Analysis Chart 10132020 by ChartGuys.com

Bitcoin Ethereum Litecoin XRP LINK BNB ZRX Technical Analysis Chart 10132019 by ChartGuys.com sign up today for a 7day free trial at alert start guys calm everyone jacking in on the cryptocurrency sectors so we just had a bit of a dump where Bitcoin changed the four hour trend for the Bulls here with a higher low and a higher high very slow move that for our trend change gives us our daily higher low and now weve lost that with the most recent dump that we just had to last 20 minutes so a big dump taking out the last 20 plus hours much more than that actually 40 hours or so a bull upside and dropping to a lower low so at this point I have been sitting on my hands and not trading the cryptocurrency space of why because of the significant pullback two days ago and the broader factor where were looking for a weekly lower high to be set so again on the longerterm timeframes we lay out the most likely scenario so if were looking for weekly lower highs in the vast majority of these names even the names that have gone much further than Bitcoin on this bounce the fact that we have already seen a 13 14 move from the low looking for a weekly lower high the last thing that Im gonna be trying to do is capturing just a few more percent of upside action while were in a weekly downtrend if we were in a weekly uptrend itd be a completely different story so again just once once the initial bounce play plays out and once that gets its move that tells me okay sit on your hands and wait for clarity on the longerterm timeframe so at this point it is still that potential bear flag I keep pointing out the fourday timeframe at this point hasnt the most clear as far as having it be condensed and a bit more traditional as far as a bear flag is concerned and although its been playing out a little bit longer now its more like the weekly timeframe this is the sixday chart but the weekly timeframe is a weak bounce attempt and could potentially drop to a lower low so thats what Im personally preparing for right now thats why Im sitting all cash and dont want a bullish position is because Im not confident in where the Bulls stand right now for changing any kind of significant trends so were looking back down at this point weve got support we just hit 81 46 so weve got eight thousand and then seventy seven hundred as the key level and Im gonna be patiently waiting for the next week of trading to see do we confirm that bear flag and drop back down to lower lows depending on what the daily in for our RSI levels are if that happens I will be looking to scale in just like I entered in the seven thousand range on the initial pullback Ill be looking to enter either in the low 7, 000 or up or six thousands again depending on what the RSI levels look like when we get there still looking for the monthly high or low to form but we dont have any indication that that has formed yet at this point we need a lot more convincing action off of the low so aetherium on the daily chart pullback much more so the odds that on this move again a daily higher low is set by most names including Bitcoin and then the odds that were gonna set that daily higher low and then just see like or aetherium go to straight to a higher high of over 12 is less likely if we looked at Bitcoin how much did the Bulls need for Bitcoin to see daily continuation from the top of that move it was about four four and a half percent from the top of aetherium move it was about seven or eight percent so solid difference in those two which again for me would indicate that is entirely possible we lose this daily uptrend we failed to see continuation after the big pullback two days ago and then roll over to lose the daily uptrend which means zoom out because our weekly lower high is set when we lose the daily higher low pattern and thats what were watching for I would not call it a bare flag on aetherium because the flag part or I should say the flagpole part of the candlestick we got a big move back out of that and we had a three week bounce before that as well so its not like were dumping like this to give a Bear Flag and again if we just compare it to Bitcoin its a much more convincing drop than were coming from the last month than it was on aetherium over the last month so its not the same broader setup in that regard but we are so watching for the loss of the daily higher lows to indicate a weekly lower high compared to to 2471 ETH ptc were gonna be looking for a daily high or low to be set soon it is still an uptrend at this point anything above 20 1.0 to 1 is a higher low so we are still holding that have we changed the 4hour trend yet answer is no but the Bulls are trying so low higher the bounce higher low and we need to see a break of 2:196 this is a potential inverse for our head and shoulders pattern where the Bulls are trying to change that trend and if they do our daily high or low is set and we shift our focus back up to the recent high of 23 but again same thing what are the odds that from setting our daily higher low that the Bulls will be able to see an 8 to 9 percent move to see continuation many times that will be possible absolutely but again we have not seen weekly consolidation yet on eth BTC this move has come straight from the low we have not changed the weekly trend and we have to top out form a weekly higher low and then change the weekly trend for some longerterm follow through on this move LTC USD so it actually broke first earlier this morning on this hourly triple top bull break look at all these tops at 56 57 55 56 big bull break and followthrough from there resulted in an equilibrium high low lets actually just clear that up high and a bull move low the pullback lower high and we could see this setup coming where as the Bulls were testing resistance I was able to post in a chat room litecoin hourly equilibrium possible if we reject from 57 82 so then we tighten up that range inside bar inside bar bearberry can flush so whether you entered aggressively on 57:15 breaking or a bit more patient on 56 91 breaking either one of those saw a nice one to two percent pullback on this current flush so on a daily timeframe higher low has been set at fifty five forty four and now it looks like our lower high might be being set as well with the inability to break 60 13 if we drop down and break 55 53 we lose the daily higher lows and the weekly lower high on like coin and the potential bear flag here will be in play LTC BTC still in a tightening range on the daily timeframe lets condense that down and see if it gets any more clear and it does this is the two day chart so weve got our high low lower high and the Bulls are trying for a higher low so much more clear on the two day time frame versus the one day chart for me personally x RP so x RP was closer to seeing daily continuation and thats still possible any name that doesnt break its higher low pattern on the daily is still just fine and thats the case for x RP at the moment so daily higher low is 265 as long as that holds the Bulls are gonna try and break to a 9 for continuation if we fail thats a lower high and then roll over we will then be in a daily downtrend so thats the worst case for the Bulls shortterm and that would give us our weekly lower high that were scouting for because again that weekly resistance is so far away so watching the seek and the XRP Bulls keep the daily higher low pattern same thing for ETH at this point the daily high or low pattern is still intact Bitcoin lost it by that little roll over breaking the law of consolidation to that point lets see where others stand by Nance already saw a continuation so thats the only name on this list that we watch here to already see higher highs which is notable and increases the odds that other names could like XRP could follow along so our daily high or low is 1650 and we saw a bull break of 18 and now were looking up at 1950 as the next level keeping in mind that we are just looking for a weekly lower high compared to 23 17 in this broader weekly downtrend link USD still up near resistance actually I take that back I was thinking to ZRX link got a multiple inside bar bear break so the bear signal was 255 we broke it were down at the low right now and were testing the low of consolidation two four one six if that level breaks still have not found our daily higher low yet and if that level can hold the Bulls will have to pretty much hold that level and try and break to 80 which is a quadruple top on the fourhour time frame bears have momentum in their favor even if that support holds we will just be looking for a for our lower high on a bounce so potential playoff to 41 but where we stand right now its looking like we may need to see further daily consolidation to form that higher low so ZRX was the one that was right up near resistance again 28 cents is the line in the sand that the Bears are very clearly and adamantly defending so lets look at this on the 4 hour time frame where its an ascending triangle so a horizontal resistance level and higher lows and not necessarily a great trendline here not bad but were gonna be looking for a higher low compared to 5 and you can just see its a rejection low double top higher low essentially a triple top and then were scouting for a higher and low still so lets see how this tightening range breaks this is the four hour time frame it might take another day plus but Bulls have to hold 5 for that higher low so pretty much most names are still holding on at this point and still have their little daily higher load so thats a good sign for the Bulls but Bitcoin sector leader is one of the names that has broken its support level at this point so well see if litecoin and other names follow along bitcoins lead and right now just sitting on my hands because theres a lack of clarity and I posted in the chat room a couple days ago I have no idea what the shortterm direction is most likely right now and pretty much I think I said that yesterday after the dump two days ago and the reason I said that is because shortterm action was not clear when shortterm action is not clear I am not actively trading Im just patiently waiting for a time when there is a setup that is much more clear to me as far as being familiar in the library of a decade of trading as far as most likely scenarios and whats the most likely thing to happen from here but where we stand right now we do not have that so if anything Id be scouting some bearish entries for those weekly lower highs and right now well watch to see how this bounce recovers I did place a theory in bids right before recording this article here on this dump but none of my aetherium bits filled my first one was low 178 just missed filling and now we have fiveminute RSI cooling up but you can see the ETH volume very insignificant Bitcoin bull volume very insignificant so the Bears have control of all shortterm timeframes at this point so I appreciate you watching I hope you have a good Sunday put out another article on YouTube as far as my trading routine with the smart stock market goes every morning and even if youre a crypto trader we dont have regular hours except for 247 but it is important to in my opinion establish some kind of routine to knock down that consistency to build our confidence as traders so definitely worth checking that article out on the YouTube channel thanks again well see you soon do good things

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