Did you bite, you know me say: go those are the five that we're gon na be looking at today and, first of all, what I wanted to bring to you guys as we've been stuck in this consolidation area for about a month right up in here as We'Ve been forming this ascending triangle, I wanted to read you something out of my Japanese candlestick charting book and what this says is trend. Reversals usually occur slowly in stages, as the underlying psychology shifts gears. A trend reversal simply implies that the prior trend is likely to change, but not necessarily reverse. This is important to understand. Compare an uptrend to a car traveling forward at 30 miles per hour. The cars red brake lights go on in the car stops the brake light was the reversal indicator showing that the prior trend, that is the car moving forward, was about to end, but now that the car is stationary, will the driver then decide to put the car In reverse, will he remain stopped? Will he decide to go forward again without more clues? We do not know and that's exactly where we're at right now guys the cars basically sitting in the road with its brake lights, on not doing a ton, we've just been moving sideways and what we're trying to find out is. If this is the consolidation after we've had this move to where we're gon na make that next move up, because we moved up so fast and aggressively from about guys, we were down around 3800 all the way up to where we are now at about 9000.
354. So that's a big move and what we're waiting to see is if we're gon na consolidate sideways and then the Bulls are gon na step back in and try to get us over top of this 10000. Over top of that, ten thousand five hundred dollars, which is gon na, be very important, or if this is the trend reversal and for me, what I'm paying attention to is this ascending triangle and if we start having candle closes down below the bottom of this trendline. Here guys, I would look down for support at about eight thousand six hundred. Seventy four then I'd be down around that 200 moving average and that's gon na put us down around eight thousand two hundred and sixty one and that's, where I'd be looking right. Now you can see that I've moved up my alarm as well to about nine thousand thirty seven dollars. I think that's important, because I want to be alerted right on that trend line, so I can react and see and what we've also been doing with Bitcoin here. We'Re gon na be looking at everything on the one a time frame. What you can see is that we have lost our 20 ma now, it's starting to act as overhead resistance, and the candles are extremely tight as we fight over top of this 50 moving average. Now what we have going for us on the bullish side here, obviously, the volume is tailing off when the volume tail is off.
We'Re gon na be waiting for that next stick of volume, whether it be to the upside or the downside, big move. But what you can see we are getting into oversold territory down here on the stock RSI on the 1 day time frame where it's, seven and nine point eight seven right now you can see we're trying to get a little cross right here. So we have cooled off in this area and that's what we needed. We needed everything to cool down. You can even see we're at 48 on the RSI right now. So if we do make a strong move to the upside, we have room to continue to run with our RSI. We can get up into the 80s guys on the one day time frame for Bitcoin, so we'd have plenty of room to run to the upside, but this is such a sticky spot in in consolidation, when you're whipping back and forth like this, you don't want to Be in a position because you're gon na get stopped out I'm, not in a position, I'm sure people who really look at this. You know for a living and trade, the markets for a living, as opposed to just part. Time like I do, are looking at this and they're saying. I definitely wouldn't want to risk my money in this area right now and potentially get whipped out whips. All doubt you don't want to do that. So they're gon na be waiting to see if we get over top of that ten thousand five hundred and turn that into support, and then we can potentially go up there and challenge that twelve thousand dollars, but right now this is such a risky situation as volumes Going down we've been moving sideways for over a month.
You need to be extremely careful in this area right now guys, because when Bitcoin moves, it's gon na move so hard fast and aggressive, you could go. Take a shower. You know and we've been moving sideways for a month and you come back and the price is gon na change 1000 in about a minute and a half that's just how this game works so be prepared. Have your upside plan have your downside plan, so that's Bitcoin guys if you like that, like subscribe, hit that notification bell we're gon na move into a theory of next also share with your friends. Guys really help this channel out. If you get some from it, I'm. Always gon na be as truthful as I can with you just what I'm seeing in the market right now and right now, it's just that sideways motion, we're waiting to see which direction the market makers are going to push this market. Next we have aetherium and if we take a look at the theorem here, it is a head of Bitcoin, so that's that's one good thing for a theorem right now in for the altcoins. We are up above this 50, so we're trading clearly up above that. But you can see, we have lost this 20 EMA now that starting to act as overhead resistance candles are getting tight. We wick down to the 50 at one point, found support off that so basically we're in between 5000 or I'm, sorry we're in between 252 dollars.
As overhead resistance and then we're at about 220 dollars as support, so those are gon na that's gon na be the range that we're working in right now as support. We don't want to lose the 50 moving average at 220 and we need to get up above that 250 to this area that we have hit now. Three times is overhead resistance. If we could break up above that turn that into support, then we could go up here and start challenging some of these higher levels around 286 – maybe even up to that 324, but we need to get moving but same with Bitcoin. What I like here is our stock is in that oversold territory right now, we're at 2 and 2. Our RSI is at 50, clearly neutral, trying to get a little hook here, trying to gain a little strength, but you know guys it's important that our stock right now isn't up at 100 and 100, and we have this pattern taking place. So it is a good thing that a lot of our indicators have cooled down, because we had this nice trend line break out of here, and what we want to do is find support here. So we can go up and get over top of that 252 dollars. That'S gon na be very important: I'm gon na keep an eye on the stock here, I'm gon na keep an eye on the RSI and also this volume, which has been getting very low.
We need a big swell of volume to get up over top of that, and you can see over here guys like when we broke out of our falling wedge that we had here. It came on above average volume and that's kind of what kicked us off here. So, do you see how we had a trendline break? We back tested, set a higher low and then continued to move. We want this to be our higher low and then we want to continue to move if we are to continue to move to the upside. So that's going to be aetherium guys same deal just waiting patiently waiting for a great opportunity right now. Next one's going to be litecoin. Litecoin is a little behind here, we're at 43, 21 cents and as we continue to take a look at litecoin here as just one moment – okay, so for litecoin. Now what you can see is we have lost, the 20 am a and we have lost our 200. Okay, so basically we're below all our moving out that are significant. You can see the technical analysis over here. If I bring this up, we are having a 16 cell 9 neutral 3 by so this is a very difficult area. If you want to go long on litecoin guys, this is an area that I would be extremely careful of, because if we start breaking down through about 41 94, we could get all the way down to '.
Oh eight and then be looking down around that 3708. It can just happen very fast, but same deal. We are in that oversold territory for our stock we're at 15 and 13 right now, so we do have that going for us or RSI is at 44. So we have plenty of room to run to the upside, but you know guys we got to get moving because you don't want these moving averages pressing down upon you and you can see the trend line breaks. We broke out of this purple trendline right here, as we were all the way up around that 46 82. We broke that and then I have this green trendline. I was paying attention to and we actually broke down through that so litecoins week right now. I would wait to see if we can start getting up over top of some key areas, guys that 45 31 cents up above that 50 moving average very difficult to take a long position in litecoin right now. That'S just my opinion, as you like me, covering like when you want that in there. Let me know what you're here for litecoin aetherium. Did you buddy leave it down low for me? Do the best that I can to get back to you and happy Father's Day to everybody who is a father out there? You know this is my second Father's Day and it's a such a blessing and we're gon na be going out to my sister's house.
She has a little pond and everything so we're gon na do a cookout and do some fish and have some have some fun today. So looking forward to that guys, next one we're gon na get into let's go. Did you bite next and then we'll? Look at him me say: go, I know a lot of people like did you bite, so if you're here for did you bite, leave it down low guys, what's also nice here, let me show you so: did you bite what it's trying to do right now? If it could close like we have, this would be a nice hammer, candle here, really long wick that potentially could be our bottom, so we can get back up over top of that 50 moving average. The 50 moving average is going to be at zero point zero. One nine one one one: okay, so that's important, remember how we talked about this 50 moving average. We found support off. As I said guys. We really don't want to start having that act as overhead Rees distance for us, so that's gon na be a key. I, like our indicators, though we are in that oversold territory we're at six point two two and five for our RA or for our stock RSI or normal RSI, and the one day time frame here is going to be at 46, but we would want more volume. Coming in, along with this hammer, that's, what you're always going to look for is that volume with one of those hammers but we're gon na see if that can be our higher low, so we can go back up and try to get up over top.
We have a lot to get up over top here, guys, that's, zero point zero one. Nine three five then be up here around that zero point: zero. 2. 3 6. But this an area need to be careful for digi bite. If we take a look here, we have 11 cell 9 neutral 8 by and what I would wait for is to see what type of candle we actually closed for the day, because we have a lot of time left here guys we have 12 hours, but it Would be nice to really see that the buyers stepped in and you have this longer wick that's, what you're? Looking for? Typically, when you get those hammer candles, that can be a bottom for you, but, as you can see here, the 20 and the 50 now are gon na start, acting as overhead resistance, you see when they cross back here the 20 over the 50 push this up. Really hard, sometimes, when you get that 20 crossing down through the 50, it can push us back down and what we know guys if we had to go back to that 200 moving average that's a possibility as well and that's gon na be at that 0.009. 6. 4, before we potentially could get a bounce. If a theory Amman bitcoin start to roll over as well, then we could get into a little bit of trouble, so just really pay attention. This candle pay attention to the volume if you're getting that stock cross with it.
Just got a lot of overhead resistance here and, like I said you can see the technical analysis there. Ok, so that's gon na be, did you bite guys and the next one we're gon na go into here is, Oh me say: go this one I've been looking at myself. Alright, so with them me say: go we're sitting here at one dollar and 46 cents and with who me say, go we're still. Holding critical areas is what I like about it. So at a dollar 46. Here we are still holding that one dollar and 37 cents, and that was our previous resistance that we want to turn into support and see how the candles here same deal. Like I read to I, the Japanese candlestick charting book, the cars basically stopped right now. We'Re waiting for direction, our RSI is at 47, our stocks at 0.72 and 0.99, so real on the one day timeframe here. So we have cooled down if we could get a bounce off this 50 that's correlating with this support, Hiromi sago, maybe the play this could be a massive bull flag, but the problem is, we have to correlate with aetherium, because only sago can be setting up a Pattern like this getting ready to go, but if aetherium dumps then we're gon na be in trouble and it doesn't matter about the pattern so that's why you always have to pay attention that's one of the things when I first got into crypto I'd say all this Chart pattern looks good, or this looks good and I wasn't calculating in the fact of a theory what's a theory, I'm doing what's Bitcoin doing that's what you want to know.
But whenever these camels get really tight, the volume drops off. We can be expecting some type of break, whether it be to the upside or the downside. We need to pay attention. The trend has been up here so we'll see if this consolidation is going to continue to move to the upside force, which would be extremely important because what we need to get so support, we need to hold one dollar and 37 cents overhead resistance. We need to get up over top of one dollar and 89 cents is gon na, be the key force, but you can see how tight the candles are. The volume is really dropping off we're just waiting for that decision. That'S. The main thing right now is waiting for that decision, because guys for me say go here: we have had just a beautiful trend line break. It came on heavier volume. Let me show you this right here, so you can see lower highs consistently coming in. That was our first higher high really came up and now we're trying to find that support to see if we can make that next blast to the upside. So we really have cooled down here. We were making this strong move back in May and now we've. Just really been consolidating almost all June and that's. Why it's been tough to do videos just because we've been in that consolidating range, so I'm, really keeping an eye on a me say: go if we take a look at trading view.
We are at 12, sell 8, neutral 8 buy right now, moving averages are dead neutral. You can see where we're losing here a little bit is the oscillators. We have a lot of neutral some sell here. Momentum is a sell, Mac, Dee's a sell and then our bull bear power is a buy so that's. What I wanted to bring to you guys today still be careful, just be patient. Wait god bless each and every one of you have a wonderful Father's Day. You get some from this like and subscribe.