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Look up the old friends checking in and at this point you already know i’m going to say the bears are in complete control we’re heading down to test our recent lowe’s if they break there is a lack of support nearby so looking down here we got support of 3457a on coinbase inching our way closer and closer to that level and if that breaks were looking on the weekly time frame to the next support level down at 2975 there other daily levels of support before that but that is the next weekly level bottom line is there’s a lack of support on a significant amount of coins down at these levels so that level going to be tested the daily exponential resistant is still on watch at this point we lived before our time frame were continuously rejecting from the exponential resistant it’s just a lower high lower low pattern and we aren’t even that oversold because we’re getting the stair step moves down there not overextended in on any time frame on this move down and we are patiently just waiting to see if we get a flesh and see if they.
Pick up in terms of significant downside follow through the bears are comfortable the bulls are nowhere to be seen.
One thing they were keeping an eye on member tim pointed this out shout out to tim bchs v so we’re watching compared to bitcoin hear how correlated they’ve been they’ve been very significantly correlated in the recent past they broke that correlation it was a fairly brief break in that correlation they went in verse but it’s worth paying attention to it because the more often that happens the more notable a pattern that you can rely on but in this instance we had a significant bull break while bitcoin was pulling back the correlation is still there a little bit you can see a little bit stronger for bc hsv but it broke temporarily to make bchs v significantly stronger there were still watching the potential that craig behind bchs v is doing what he can to make bitcoin week and to make bchs be stronger in relation to it i’m not really interested in all that drama but it’s worth watching in terms of how the prices are interacting with each other and again we want to see.
Does that correlation break for more than just a brief amount of time you can see as far as a daily chart goes significant break and a correlation as bc hsv hit the highest price that we’ve seen in the last six sevendays whereas bitcoin hit the lowest price that we’ve seen in the last six seven days and if we were going to make the same kind of bull break bitcoin would have had to see him move up to pretty much the height of the bounce so we’re going to keep an eye on that going forward gears the daily chart for bc hsv we were looking for that lower high on this equilibrium and now are high or low is set so it’s not really good time frame to be looking at on the weekly or we got our high lower the pullback lower high and magnets not turned on but high or low ended up just barely breaking that support before the bull showed up your calling are high or low at 8401 and the next resistance is up at 1:41 so we can look for a lower high compared to 141 and then to pull back in at a high or low.
Things to continue to tighten as far as a short-term goes for our inside bar hourly uptrend still intact but we’re getting tight exponential support if we’re looking at the short-term levels it’s 9651 support and 106 as resistance so short term going to get a break and he’s inside bars in the overnight trading action here so that’s worth watching.
And again worth watching to see cannot correlation continue to break at this point bitcoin is so clearly bearish an insect control of the bears that we need to be scouting who’s breaking that correlation you’re either playing these names beerus that don’t have any support nearby and that includes aetherium and a lot of these other coins or you are looking for the names that have their breaking the correlation binance did it i’ll be chspe just briefly did it and it takes surges in bull volume for these individual coins to break those correlations with bitcoin and that’s usually buy news driven events like the instant with binance but again if you’re looking bullish you want to be breaking the correlation of bitcoin because otherwise those aren’t going anywhere aetherium on the daily time frame also a clear bear pattern and we even broke support so below support it was 98 20 and there is no support after that level anywhere nearby and again if you are bearish.
Bears are loving any coin that does not have clear support anywhere nearby we pointed out eos the other day and the reason to eos. i’ve been running wild is the lack of weekly support so the next support level is $13 again there’s other levels before that 7589 is the next level it stands out to me so no support nearby for aetherium if bitcoin drops and breaks it slow we’re going to look at a therium down in the low $90 range is just a clear lower high lower low pattern at this point the weekly chart has been in a very clear downtrend with zero fake out or four or five months and again the patient. it was that really have discipline are not touching the space until weekly trends change and is a clear shift and momentum so those are the kind of people that don’t need to know about them they’re just waiting for that momentum it again and i have capital set aside in my bank account just waiting saying all right when the longer-term trends change i’m absolutely getting back in crypto it’s going to happen i’m going to make profit as a bowling crypto again.
Zero doubt in my mind and i’m just patiently waiting for the longer-term signals like coin is still barely holding support but again if we.
Port nearby and that’s what the bulls have to be concerned with 2637 is this level and after 2637 we’re just looking at psychological levels the 26 25 24 all the way down again just clear for our lower highs at this point i said in yesterday’s video but as long as the daily exponential moving averages are resistant i have absolutely no interest as a bull rsi doesn’t mean anything to me that in this market environment we used to be able to rely on it for oversold bounces and then the bulls just stop caring about oversold bounces so the rsi stop being a good indicator it’ll be a good indicator again which is not in this current market environment xrp-usd also seeing a bear break and that break was 329 that level has now broken and again the next support we have to have a couple more supports on the weekly time frame for xrp than other names have but it’s down at 266 so 266 is the next support level daily exponential resistance wasn’t even tested and that’s my guide.
For when i’m interested as a bull again in any individual name and binance last video for binance we are watching the potential of the for our head and shoulders pattern we have the left shoulder the head there was the right shoulder and the uptrend before our uptrend broke support at 581 and here we are down at 5:07 so that is about a 15% pullback in 16 hours once that support level broke so very significant follow through for those bulls or should say those bears.
And that’s giving us daily consolidation and his daily consolidation is giving back way more than the bulls want i must hold support level for me is down here at or 95 and 495 breaks we got nothing nearby and we actually actually did i not broken yet we held up by a penny that’s a bottom fishing level and at this point it’s up 2% from holding that support level but again you gave all that move back that is not progress for the bulls you have to form higher lowe’s not given tire moves back so bottom line you’ve heard me say it before nothing’s changed the bears have complete control i’m not interested in the bulls until the daily exponential moving averages are becoming support we’re on the verge of another leg down some of these coins have already broken bearish and a theory and looks like since i started talking is making another like down so aetherium is going to be looking at potentially sub $90 if we see this bitcoin break and any kind of meaningful flush behind it so bears comfortable there is looking for entries on bounces bulls.
Just give up for now for now and we will patiently wait when there’s a good opportunity and good risk-to-reward so i hope you all continue to do it to do good things have a good day is been some volatility in the market volatility in the canadian mj space that’s been keeping me busy in terms of having something to trade again i’ll be back to crypto and i’m going to make some solid money on it very confident in that don’t know if it’s going to be in q1 2019 or q120 25 i don’t know but we’ll be ready and we’ll certainly be noting he changes in the trend thanks again see you soon.