Bitcoin Ethereum Litecoin Ripple Binance LINK Technical Analysis Chart 7/16/2019 by ChartGuys.com

Bitcoin Ethereum Litecoin Ripple Binance LINK Technical Analysis Chart 7/16/2019 by ChartGuys.com



sign up today for a 7-day free trial at alert start guys calm alright so we're gonna do some Members Only impromptu live we're gonna look at the usual names that we do and then we'll see if there's anything else you want to look at trying to keep this fairly short would like to be done before 2:00 p.m. Eastern and then I gotta go live for stocks at 3:15 so first things first we'll start on the longer-term time frames will zoom in for there because we have a clear bear break to a weekly little lower high and lower low so I'm personally not gonna call the weekly uptrend lost I'm gonna say we're still in a weakly uptrend but clearly this tells us further consolidation is needed for me the clear consolidation period is going to be seven thousand four hundred and twenty seven and that's definitely me taking in you know my own personal opinion a bit and you could definitely say that the weekly uptrend is lost and I wouldn't argue with you too much but for me personally it was such a brief quick pullback that that's not a clear period of weekly consolidation for me so what we're looking at now is the weekly exponential support and that's pretty much because we don't have a ton of support levels nearby the daily timeframe eighty nine nineteen but other than that we're looking down in the mid $7,000 range so as far as previous price levels there's not a ton in this area so weekly timeframe we're gonna have a visual target of the exponential twelve period support and that's apparently it's gonna be at about eight thousand nine hundred if we were to keep dropping down to approach it it would keep dropping with the price and we would eventually get to it but that's the short-term level to be watching and what I just did I just did a quick little day trade and it wasn't very significant but where did I place my orders we had a setup where I was looking at again the 12 hour time frame for some clarity and I assumed that if we see a bear break too 9850 7 if that level was going to break in my opinion it's gonna trigger stops and we're gonna see 9650 1 fall shortly after it and then I would know that there's a good amount of stop losses probably under 96 fifty-one those are the two very clear support levels and they're both about two percent within range of each other so when I put scale in orders I put them under 9600 to potentially cash in on getting filled on those orders dropping down so my first fill was 95 12 and then I had orders at 94 93 92 and of course only the top one filled and I have already exited and I exited on this 5-minute oversold bounce because again I'm playing against the trend on all time frames and it was a 1.8 percent bounce in less than 10 minutes yes it was only one order I'm not taking my entire account 1.8 percent but it was enough to be about a 33 percent of a day maker and I will take that every time when it's that quick and it's against momentum and we also aren't that oversold on longer-term time frames the four-hour RSI is only just getting oversold and even the hourly RSI it was getting pretty beat up it was down in the low 20s but again that's just me being conservative and taking those gains while I have them so now we're gonna continue just watching how this little bounce attempt plays out it's a 5-minute equilibrium if we break bullish over the top of 9700 and 10 will zoom out to the 15-minute chart and then we'll just look for a 15-minute lower high and we'll play the zoom out game as far as Bears are concerned if not already in a position Bears are looking to play the zoom out game to make their entries either a 15-minute lower high at exponential resistance or if you want to be more conservative you're looking for a four-hour lower high at exponential resistance and again just looking for those lower highs to form to be making those entries and even bears you know I scale in for bullish oversold bounce plays bears can be scaling in let's just use an example if we were to see a 15-minute oversold bounce actually gets some momentum I could begin scaling in at 9 thousand eight hundred fifty nine thousand nine hundred nine thousand nine hundred fifty ten thousand looking for a rejection on the back test of those exponential moving averages so the same scaling strategy can be used in the other direction because again we can't expect to nail tops and bottoms and we want to allow ourselves some breathing room for that to occur if we see continuation down and this bounce break bearish on the five minute time frame equilibrium I'm going to be watching and scaling in again and I will again go clearly lower than where our current low is which is down at nine thousand four hundred twenty six I had an order sitting at nine thousand four hundred and thirteen or so and I pulled that because I know that if we're gonna see lower lows we're likely gonna clearly break that level so I moved that top bid and now my top bid is in the night low nine thousand three hundred and we'll take it from there but again just knowing that the hourly RS I at that point if we do see another leg down and break nine thousand four hundred the hourly RS I will be down approaching the teens and that's when I am comfortable scaling in again I'm all cash right now so I can very easily scale into some positions in the low 9,000 s and still be pretty comfortable at this point if the hourly RSI cools off on a short-term oversold bounce I'm gonna pull those bids and either just drop them under nine thousand or just remain all cash and patiently wait for a better bull entry opportunity other targets that we can be looking at are those futures gaps and I don't have those off the top of my head as far as what levels they are I know we've got one it depends on whether you're using the daily timeframe or the four-hour we have one in the set mid seven thousands that's on the four-hour timeframe and let's pull these up I don't know the ticker off the top of my head either so there's a gap down at 8515 that's the most clear one and that's a level that we can be watching as well so this is monthly consolidation now and we saw litecoin give us the heads up two videos ago I think it was they said okay litecoins getting a month monthly consolidation it gave us the clear heads up it's not as clear on Bitcoin at this point but if we do pull back and we break the low whatever this month low is if we break it next month we're gonna be looking for a monthly higher low to try inform because the only trend change that hasn't taken place on these longer-term timeframes is the monthly so I'll check back in on Bitcoin on this five minute equilibrium as we continue aetherium again it's just in an absolute freefall at this point in the last seven days one week we have pulled back forty percent that's huge daily RSI is now oversold the weekly uptrend has been lost the monthly timeframe is pulling back to try and form a monthly higher low but from where we stand to head back to the high of 2019 we would have to see a 90 percent move and while we know that's possible in the crypto space I don't think that's gonna happen anytime soon personally so what this pullback is showing me is that I anticipate the width at the the hype of the last three months has faded obviously and now we're gonna be looking at potentially some prolonged consolidation it might be a slow once we find a range it might be a slower late summer into the fall and we might not see action pick up again until we head towards the winter so that's something to be aware of because again a 90% move to get back to where we came from it's gonna take a while to regain that bullish momentum to get to that level especially the fact that eth BTC is now crushed daily oversold I'm treating it as a black dirt breakdown meaning all-time lows I'm not quite sure if it is specifically all-time lows maybe it is no not yet we got 0.01 but that's just the way I'm treating it and it's keeping me certainly protective the weekly timeframe and freefall the daily timeframe anything under two four three six is just a lower high on the daily we're nowhere near changing any trends and again just absolutely crushed change those daily trends and it'll be notable for me until that happens only keeping watch on litecoin and the theory I'm out of the corner of my eye focused staying on Bitcoin so litecoin a clear drop as well again every single day is still a lower high on this pullback door litecoin aetherium and Bitcoin and that's seven days in a row now and litecoin has pulled back 39% over that period in time the monthly consolidation is underway here as well and again to get back to our recent highs on where we came from 93% required litecoin so we have to form a monthly higher low compared to 22 and then see a bull break of 146 ideal scenario is we set a monthly higher low on these names ideally obviously the sooner the better August or September at the latest and then the Bulls try and slowly make their way back up towards resistance in the winter LTC BTC still weak dropping to lower lows not as weak as the ETH PTC pairing but certainly weak we're looking down at oh oh six eight as the next key support level and we are in free fall XRP same thing 7 days in a row with lower lows XRP gave us a red flag first losing the weekly uptrend a while ago and we are coming up on very key support 2 8 5 and that's a potential bottom fishing play I don't trade XRP and the Bears certainly have had more firm control of this coin than many others but we did just bounce off actually I take that back looks like we broke it just barely we're still considering that multiple holds let's see it's – 8 – that's the absolute low – 82 with a bunch of holds of 285 and we just hit 282 again so technically we can call it multiple bottoms still holding but if this level breaks look at the weekly timeframe here and what's under that – 4 6 is the only level under that and this is BitFenix ripple XRP is in a lot of pain and they're in some trouble if we break that level BnB dropping down again BMB gave us the signal of some weakness and told us to be cautious a few weeks ago bearish reversal candle on the monthly has confirmed monthly consolidation underway so that was a potential clue that I was using just in the sense that Finance has been B lead crypto name all of 2019 and if it's going to start monthly consolidation the potential that it would have overhang on other names as well and that is the case certainly next clear support is 1830 and daily oversold conditions for the first time from all-time highs worth scouting absolutely we're not there quite yet but on the verge of it next daily support is 20 3:14 so we will anticipate a monthly high or low will form on Finance I'm gonna be watching Finance and litecoin to be looking for clues on Bitcoin as to when our monthly higher lows have formed link clear bear break weekly higher low has not been established yet heading back to weekly exponential supports there's still a long way away and again because we ran up so hard and fast we did not establish support on the way up and we can easily pull back further so just be aware that bears are in complete control anything under 333 is just a daily lower high and watching those weekly exponential supports has potential visual targets still tightening up on BTC we're going to look for a clear break sometime within the next 20 minutes and again if it's a bear breakdown hourly RSI will be beat up and I will be looking to have some scale in orders potentially hit so I'm watching the thread in the chat room where I posted a link and if you want me to look at any coins any altcoins or have any questions or anything like that feel free to ask in that thread and polo has the eth BTC history thanks for that so we're down at 205 lowest price sense before I was trading cryptocurrency March 2017 all coins are just crushed and the fact that Bitcoin is pulling back and not trading in a sideways Channel I think the sideways channel is the best chance that the all coins had to maybe get some breathing room and some relief but now that we just broke straight to bearish on Bitcoin without getting this three day equilibrium with any follow-through that is a red flag for alts in my opinion I don't think I'm ever gonna have interest trading all it's in the cryptocurrency space and that's just after seeing the marijuana sector and having eight stocks to play and then the hype and FOMO caught on and next thing you know there's over a hundred and I watched a ton of them go to zero and just knowing that that was going to happen and it dilutes ooh first Humminbird it dilutes the it's the disadvantage of sitting with big glass windows in front of me lost my train of thought it dilutes the focus on the good projects or the fundamentals and it just clouds it and it makes it a lot harder to find and in my opinion just sticking with the major names is that's what I'm gonna do nice and easy that way you don't have to search through thousands of coins to try and find who's gonna be the winner now we'll knock no I'm not gonna give up on ETH and lt see they have established themselves in enough of the cryptocurrency narrative that people should have interest in them for a lot of time to come dat gimme gimme pairings and exchanges pleas bch USD on coinbase so we're in monthly consolidation here again just always starting with a longer term timeframe and zooming in low high and now we're looking for the monthly higher low to form daily timeframe is an inside bar so we actually held support which is certainly a notable difference and I would be looking at the 4-hour chart probably the 12 hour for clarity solo high trying for this 12 hour higher low and if the Bulls can get some follow through on this bounce and change the 15-minute trend or change the hourly trend then we could stay within this 12 hour tightening range for another day or two as far as support if that were to break we're looking down at 227 40 and if that were to break bullish anything under 429 is just a daily lower high best case scenario for Bitcoin 15-minute lower hi 10,000 best case scenario I'd be surprised if that happened I don't think Bulls will be able to get that far up but I've been surprised in the past that BTC on by Nets daily downtrend lower highs very clear every bounce is just giving us a lower high exponential resistance as a bit of a guide the past couple weeks two to four three support has broken so we zoom out to the weekly the weekly is in free fall were taken out all supports 2:05 six is the only thing nearby and that is just just one of the other all coins all doing the same thing and getting crushed against Bitcoin but no support in sight have to change the daily trend bqx BTC on Finance so in a tightening daily range trying to form the higher low at 107 5 but it's not clearly set yet because every little day is a lower high have to break that pattern to be looking at a shift so I'm looking at the high lower the pullback lower high and trying to form a higher low so let's say most important range is one four seven support of nine one to lower high of one three three and trying for that higher low again I'm not calling that our higher low yet you can see the volume dropping off and expect that volume to stay low as we tighten and then we'll look for a clear break sometime before the weekend probably into the weekend game-playing for long term no touch positions is very simple there long term no touch positions and that's what they mean and I account for them you know every once in a while I'll do my assets allocation and I'll write down what's my fidelity Care Act what's my coinbase account out what's my bank account what's I just tally up everything to know what my net worth is and I never included it's always been zero so it's always a bonus and if they go to zero nothing about my financial situation changes so when I say no touch I really mean it I'm gonna check in on Bitcoin looks like we had a little bull break but we didn't break the second level of 97 10 so we have to be skeptical of bulls especially because the 5-minute exponential resistance is lining up there as well and that is a potential 15-minute bear flag we have to be cautious of Tim just posted in the chat room about the dollar I've been watching the dollar very close and there's a key pattern right now that the dollar is trying to confirm this inverse Head & Shoulders on the daily let's go monthly perspective on the dollar because again everybody's talking about dollar weakness in the crypto space and all that and honestly I am never gonna look for dollar weakness until the chart shows me dollar weakness I'm never gonna look for a dollar collapse or any of these macro events that crypto currency bulls are looking for to really you know spark the switch over to crypto currency it'll be in the charts and right now the monthly timeframe is in a clear uptrend and it has been since February of 2018 so an uptrend for pretty much a year and a half and if we were to break bearish from this tightening pattern on the daily that would increase the odds that we lose the monthly uptrend for the first time in a year and a half but we're in the process of this potential inverse Head & Shoulders pattern and if we break 97 59 and 97 77 it's a clear bull break that tells us our monthly higher low has been set and we're looking back at our multiple year high of 98 37 so I personally don't see any weakness in the dollar unless we were to see a break of the monthly uptrend which right now that monthly higher low most important level is 90 503 and if we confirm that inverse Head & Shoulders then our new higher low will be 95 84 so I personally unless the four-hour RSI gets extreme down into the low 20s I personally am going to be looking in my y-axis on this chart has been whack for Bitcoin for the past couple days and auto doesn't fix it but unless the four-hour RSI gets extreme my bounce plays are gonna be very short-term like I said I just did I flip that 1.8% and don't care if it goes up from here because I know if it goes up and keeps going up and I sold too early I'll just be looking for a 15-minute lower high or just be looking for an hourly lower high so it's going to require for our RSI getting to extremes for me to be looking to hold some of these scaling positions for a more prolonged period so Bulls stay patient out there we can always drop lower we have a lot of traders looking for targets in the mid 8000s that's still another 12% away from where we stand right now the daily chart being extended is another reason that I may look to hold some scaling positions a bit longer and again just seven days in a row of lower highs every day and that was one of the reasons that we were looking for an entry the last time it happened and it was a lower high every day for six days in a row so very similar action here look how similar this is where this bounce was a bit more significant a little weak bounce it's just a pretty similar pattern so it's not game over for Bulls there'll be bounces we just had bounces on the way down there's so much opportunity in both directions the hourly bounces gave us six and a half percent four and a half percent five and a half percent and then most recently 13 percent and then of course the Bears having significant gains on the way down as well looks like we did just get we're right at the top of the initial bounce testing five-minute exponential resistance so that's that I'm gonna finish up here and go back live in an hour and a half mostly talking about stocks but I'll check in on the cryptocurrency space as well and yes this will be recorded and I will upload it publicly once it processes but that takes a little while it'll probably be an hour or so so that'll be delayed info at that point but it will be recorded somewhere so hope you all have a good afternoon establish those game plans stick to your stop losses they're essential in both directions and I'll see you soon

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27 thoughts on “Bitcoin Ethereum Litecoin Ripple Binance LINK Technical Analysis Chart 7/16/2019 by ChartGuys.com”

  • Then lets not forget that Binance is going to halt all crypto trading in the U.S. this Sept which is a very serious issue IMO. That definitely doesn't help BTC &/or Alt Season

  • You're going to see a summer of altcoins hitting highs never before seen it's just how low till that majical time

  • I don't hate people. I just prefer it when they aren't around 😂 it's my ego I know. I've judged spiders to be disgusting and creepy and ugly so I would get a spray and quite happily kill them like in your video. A butterfly is beautiful so 'ah there goes one.. So pretty'. The insanity of the egoic condition. The monstrous act of reducing expressions of conciousness to labels. Only meditation will help free me from this echo chamber of mine. Stillness speaks

  • For idiots LTC , ETH , BCH are the best sh*tcoin for insiders its just garbage like many others
    Garbage will always be garbage doesn't matter how hard u try to pump it
    Short garbage long Bitcoin
    from Insider

  • Dan, do you have any "no touch" positions other than bitcoin? Can i ask what your average entry is on your "no touch" positions?

  • DONNIE GUNBOSS says:

    Anyway to change the color of the RSI alert as the purple color is too light making it difficult to differentiate from the RSI level lines. a dark color would help. Thanks

  • Trader Noxtreme says:

    HA. He chokes when he says "40%!" lol Fighting back the, OMFG.
    Drop caught me. Not gonna lie. Going to have to exit on the lower high :/ Significant opportunity cost.

  • Crypto Minded says:

    lovely video, resistance is quite strong and there has been rejection already like 3x but some positive signs still show anyways in my personal opinion, bitcoin quickly see us into the $14,000 range again. Nevertheless, crypto has shocked us in the past especially the last year with predictions of price that went completely wrong. I hope to see more proponents for trading which obviously has been a more secure consistent and profitable means of earning off crypto. It has also been proven over and over again that winning in Crypto currency (Bitcoin Trading) is a combination of experience and good strategy and you can always join the winning team of a more experienced trader with already working and proven strategy. One of the best remains Douglas Murray and with him, i have been successful in my trades at least 98% of the times and have realized over $60,000 in profit, December 2018 alone so i advice you forget predictions and start making good profit now because future valuations are all speculations and guesses. To reach Mr. Douglas you can send him an inquiry *(([email protected] com**)or via WhatsApp: +1(772)202-0759 if you need to know more about his system and find out how to be consistent in making profit off bitcoins

  • Thanks Dan, but Ripple isn't XRP. You are talking about XRP and not Ripple.
    Please fix that.. I see it in every video of you

  • Michael Garibaldi says:

    Tether accidentally printed 4.5billion USDT and issued it on TRON. The alleged intention was to print 50million USDT. Tether just freaked out the market with its magical USDT printer error.

  • This is a pullback, but still risk management should be applied. Then add few trades if you see confirmations.

  • Hi Dan!

    we're a band and we love your content<3
    Thanks for sharing your expertise, thanks for all the great effords you making to teach us.

    Love from The Netherlands, you're always welcome here!

  • Charles Patterson says:

    "It's a 'buying market' for 'Smart money'!" "Chomp, chomp!" Cost – average buyers are 'making money' Today…

  • Dollar Club Traders says:

    Heyy Dan! Another great video! Flying back from Thailand to London tomorrow… hopefully I don't miss too much action! 😁

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