Guys and I mean it's a trudge to even get back up to 10000, because now we have overhead resistance at nine thousand. Eight hundred and thirty two is gon na be a spot. Then we're gon na have an area up at that ten thousand. Then it would be that ten thousand five hundred so think about that range there I mean that is a lot of overhead resistance, and then we have a double top. Basically, here that people are looking at, you can see that as well and take a look at this volume. Volume was heavy to the downside. So now, if we just have a little weak volume reaction here guys, it could be another leg down to test this. Two hundred moving average and we have to be prepared for that, and we have to be aware for that. So you know in terms of the bullish side, that's what we have to do. We have to get back within my green trendline there and we would have to turn this candle into some type of like bullish, piercing pattern to where we and basically go up more than half of this previous day's candle. And then we need heavy volume to get up overtop of that but I'm, just not seeing it yet like. We said guys, we're at nine thousand one hundred and sixty two. So unless we defend this area that we're at now, I would most likely look to see us down around 8051 at that two hundred moving average to see what we do with that again and guys.
I don't want to back test that again. I wanted to break through ten thousand dollars and turn into support as much as the next guy, but that's not what's happening right now and we have to realize the fundamentals. We have to realize what we're working with right now. So that was about a two percent candle close that we had below that trendline. It was not that three to five percent, so we haven't had clear confirmation. Yet for that trend line break okay. So now what we're going we're gon na actually move into the four hour time frame here and take a look at this so same deal. What you're seeing is this downside pressure is coming on heavier volume in this little reaction, we're having is on weak or volume guys, so you know I talked about this 200 moving average on the 4 hour time frame at 8000, 662 that's gon na need to hold That'S gon na be the area and also where we almost had kind of those tweezer bottoms on the one day chart where we started this little move to the upside here, that's. What we're gon na be looking at, but right now, it's, just a tough spot we're at 40 on the RSI. We need to hold that to support if we get trapped below that a lot of times that can act as overhead resistance as well. You'Ll notice that, but we have lost on the 4 hour time frame, the 50 moving average now and we're getting pinned between the 50 and this 200, so that's, where bitcoins gon na have to decide here fairly soon whether we're gon na get overtop of 10000 turn Into support or just gon na, be that massive overhead resistance, and if it does guys things could get real ugly, because then people can say: okay psychologically, you know it could potentially fall to 5000.
We have to see if we find support off that if we found support off that, then start working our way back up to get overtop of 10000 it's a process. I mean that's. What a lot of people don't understand. It is a process. So the fact that we couldn't get over 10000 now that showed the Bears hey. That is a strong overhead resistance and here we go and then people start short and Bitcoin to the downside and guys I'm in the market to trade. You know, I know people get emotional when people short, I don't that doesn't bother me at all, because it's about playing the market played to the upside plate to the downside, sideways whatever it is, I think guys, so that should absolutely be allowed to short any market, Because that's part of the game as well and it's smart, you know when you're in down trends, follow the trend and that that's ways for people to make money, as opposed to happening, to go off a reaction. Something like this. So we have this fall. You try to jump in off the Stowe's you catch it. You try to ride this up. Knowing this is just gon na, be a little move and then most likely a dump to the downside. Mmm, excuse me because you're looking at that volume and you're seeing that – and these are just little tips – I'm gon na – give you guys for the people who are here on this on this video, because I want to see people do well and I want to see Pee succeed in this space, but this is tough.
When now we have all this overhead resistance, you know a guy. Like me, who's sitting back I'm, not saying hey, I need to jump in right now. I got to get me some. You know and what's the guy with millions of dollars doing right now. You know he's seen a trend line, break yeah there's a lot of manipulation in the space. Sometimes they wait for stuff like that. Where it looks like you know, everything's gon na be bullish, then they dump the market or vice versa, but that's the name of the game guys and you got to protect yourself, but you know for Bitcoin. This is just a tough spot and we've seen a lot of failure, and what we need to hold for support is 8500. If we don't hold 8500 we're gon na be down around that 8000. Pretty quick, that's just is what it is guys we'll, definitely back test. This 200 and that's at 8000 51, and we would need to hold that that'd, be very important that we hold that and that's just my opinion. So if you get some from that guys like subscribe, hit the notification bell, people who put exclamation points thumbs up hashtag any of that just helps out with the algorithm. I appreciate it and what we're going to do is move into a theory of next and we're. Going to take a look at a theorem on the four hour time frame as well, each one we're gon na go into one day, then we're gon na look at the four hour.
So for a theory of what we would need to do here. As you can see, is set this high or low if this is to be a higher low, we're kind of it almost like a hurrah me pattern right now, but we need to wait for the daily candle close and see what happens here, but we had heavier Downside pressure, the volume was heavier to the downside, and now what we're gon na see is if this yellow downtrend line is going to continue to act as overhead resistance or if we can get a trend line break. So we need to get back up over top of 205 turn. That into support then break over top of this yellow trend line, and maybe that would be enough to start getting us over top of 215. It can be strong overhead resistance as well that we would need to get up through to the upside, but that's. What needs to hold guys this high or low right here is what's important. Okay. Now, if we break through that I'm gon na look at 175 dollars, we're called 175 and that's also going to correlate around with 200 moving average, just like Bitcoin as well but same deal. You know this is the potential double top we went up. We tried to push up again and we couldn't make it over top of that, and then the sellers jumped in RSI right now is a fifty two volume. You know, we're looking for a big swell of volume coming out of here, that's what's gon na be important.
Now the technical analysis for aetherium we'll take a quick look at that on tradingview. If it'll pull up for me so overall summary, seven cell nine, neutral 12 by oscillators, we have a two cell, eight neutral one by moving averages five cell, one neutral eleven by so all in the short term, here we're starting to have some cell signals in terms Of our oscillators, we have a lot of neutral right in that range and then, in the longer term, we're holding a lot of those twenty thirty fifty hundred moving average, which is important as well for aetherium and then let's dig into the for our quick. So, with the for our even those guys, you see, we basically had almost like a little hammer candle here and then we actually had a bullish engulfing candle. But as we went up here, this volume is not impressive. Volume will tell the story for you it's something that I've really been studying a lot on, and I believe that you could study for a year and you wouldn't run out of things to study about volume and the importance and how it goes with candlesticks and all Different types of stuff so really watch these areas guys. What we need to get over is that 205 and then eventually that yellow trendline, if we're to make an upside move, downside is gon na be about that one hundred. Eighty five dollars for support than one hundred and seventy four dollars for support, so that's, a theorem guys.
You like me, cover in a theorem. Let me know if you're here for aetherium, I always like to see if people are here for digi bite, if they're here flight coin, a theory and Bitcoin just let me know down low, I appreciate it. Then we'll go into light coin light winds at forty 377 Lake coins still made me nervous as we've talked about here. We add this big pull down on extremely heavy volume. We'Ve moved up volumes been lower and now we've actually started some downside pressure. Here you can see by the impulse waves in the volume here so we're in that downtrend we're. Getting stuffed right now in the four hour time frame by the 50 moving average starting to get a little selling there, as well as that 200 moving average to the upside. But if litecoin is to start moving to the upside we've got to get up above 45, which is gon na, be around that 200 moving average and turn that into support and then eventually start trying to get up back within this purple trendline. But right now this has been a valid trendline break. We tried to go back up retest it. We failed and now we're in a short term downtrend. So you got to be careful if you're in positions right now, that's. The best thing that I could tell you is you need to be careful and also the patient will be rewarded. The people who are waiting right now planning their tray.
You know planning their trade trading their plan, all that type of stuff they're going to be the ones who are successful because guys when you can take advantage of even swings like this, like you see up here in litecoin, as we were bouncing back and forth from 57 to 63 that's, a nice range to trade in there and that's, a good percent that you can really make if you're planning for these things, it's so important to plan for these things, so that's a theorem right now, guys or I'm sorry, that's litecoin right now And that's at forty three dollars and seventy two cents but that's what's, giving us trouble right there I mean we're just running into the moving averages and we're getting stuffed, and that was on the four hour time frame and on the one day time frame were below. As well again, this 50 moving average and this 200. So apart from us getting up above forty five dollars and seventy cents, guys we're gon na be in a little bit of trouble, and we need to hold that forty to forty four right now and just turn. This into a higher low and then try to change the trend, but you know it's, just a tough spot right now. Litecoin is up two point: three: nine percent. It just hasn't come on a lot of volume and then next we're gon na do. Did you bite all right, so did you bite is getting a nice swell of volume here, guys take a look, so this would be if we could close today and remember you know, people take profits pretty fast in this space, but if we could close today with A bullish engulfing candle on heavy volume like that that could be the area now that nice higher low in this secondary term here and then potentially start making a move back up to zero point.
Zero to two four zero would be overhead resistance and then it'd be up around that zero point: zero. Two four four seven is going to be the spot, but guys this is the thing about the cryptocurrency space. I mean it's just insane that this type of volume and this type of interest can't come in after so long of no interest. Take a look at this in this bear market, just slowly, no volume just getting chiseled away and then all the sudden. In one day, it can move more than the whole market moved that entire time, so that's what's impressive about this space. But what we want this to be like this is similar to here. Do you see how we put in a bullish, engulfing candle on heavier volume, and then we started that next move to the upside, so that's? What we need to do. We need to get over top of 0.02 4 5 4 and we need to hold his support. 0.01, 3 4, 9 it's gon na be the areas for us, but that's a really nice strong move. The RSI is at 51 here so we're just gon na have to see if this will continue throughout the day, so that's on the one day, time frame and now you can see some settling starting to come in here on the 4 hour time frame right up In this spot here, so there is some selling that's starting to take place there that we do need to be aware of, but that's how quick you know, volume comes in, but you can see the the tasks now that we have to get over top of all These overhead resistances it's how the game works, guys markets, moving trends, as you can see this beautiful uptrend here and now we've been in this downtrend.
So these are things we need to watch for. I hope you get something from this. God bless each and every one of you guys like subscribe hit that notification bell. Let me know down low what you're doing.