What I want to do, we're gon na, be looking at Bitcoin on the 4 hour time frame and we're bouncing back right now, so we can really take a look at the patterns that are taking place because we're in such a sticky spot for Bitcoin and that's. The only way that I can put is a sticky spot guys overall in the macro sense, as we've talked about for the longest time here, we're still in a downtrend we're still having lower highs, starting from that 14000, then we made up to that 10500. That was that previous secondary trend that we had we topped out, then what you can see is we topped out over here at around 10000 and then guys we tried again and we failed now we're trying again and we're having a little bit of failure and that's. Why we're having such a stiff fight right now between the Bulls and the Bears, because the Bulls want to support 8500 that's, where you had these major tweezer bottoms right in this area here and we made a nice strong move off there and the Bears they don't Want us going basically up above that 10500 that's, where they're defending this very strong area of overhead resistance, so that's, why I'm saying if you were not in a position right now, it's a difficult spot to say, hey, I want to jump in right now when we're Having this top this top 10000 top and then 10000 psychologically, and then we have that ten thousand five hundred dollars, okay, so that's the bear side, that's what's happening and you're saying: okay, we have a lot of overhead resistance.
Now we still, though, are in an uptrend in the secondary term, this intermediate term uptrend that we've been in you can see right here, we've still been putting in higher lows. Our volatility stop right. Now is at 9404, if you're playing on the four hour timeframe and that's, showing that the trend still is up because the higher lows are coming in so that's. Why now I'm going to label this video, the Candler czar getting tight and the break is going to come because whenever these candles get tight and you're starting to get squeezed between these areas, it's eventually gon na have to break out. I can't tell you, which way it's going to go for sure. No one can only the whales, the people who are going to put that massive amount of money in the market, that's what's going to move this market and they can do whatever they want right now. But for Bitcoin we need to get overtop of that 10000 psychologically turn that into port and then go up and tackle that ten thousand five hundred and what's difficult when people were talking about a cup and handle on the 4 hour like I was doing a video On or even out to the one day timeframe, the difficult thing is: it hasn't had the seven weeks, duration of a cup and handle, so it could be on the shorter term. But in terms of the actual chart pattern it would not qualify as one and also cup and handles they don't have to break to the upside guys know.
Pattern is complete until you actually have that break out of the neckline area or that overhead resistance and that's what's going to be so important. You need to get over top of those and then tournament to support but it's hard to go off a pattern when you have such stiff overhead resistance right there. Typically, you want to look for a gap and some room to run so that's something that's difficult but, like I said in the space, the whales, sometimes when it looks, you know the least likely that's what they're gon na do. Okay, you can be looking at massive overhead resistance for three years and it looks like we're getting stuffed. You know our RSI is at eighty three and we look maxed out that here comes a whale and he pushes it up and our RSI goes to ninety seven and things get absolutely crazy. So anything can happen here. These higher lows still are coming in, but for me this is an area like I told you. I got stopped out of my last trade at breakeven and that's, where I've just been sitting back and patiently waiting for a good spot, but for me I'm, not there. Yet because of the stiff overhead resistance I'd, rather wait for us to try to get up above this ten thousand five hundred. If we turn that into support and then work, this next range here from ten thousand five hundred up to around that almost twelve thousand five hundred dollars I'd rather work that then try to get chopped around in here and get into trouble.
So that's. Just me, though, guys but that's Bitcoin right now I mean that's truthfully what we need to hold. We wouldn't want to go much below right now about ninety three hundred dollars and then to the upside. We have to get over ten thousand and turn it into support. Psychologically, and have a daily candle close up above that, in that ten thousand five hundred daily candle closes, are extremely important as well, so that's gon na be Bitcoin guys you get some from that like subscribe, hit that notification bell, let me know down low also, if You could share with your friends, you know guys put an exclamation point thumbs up anything down. There really helps with the algorithm. So thank you for doing that. I appreciate it guys and then we'll get into let's go light coin. Next, like coins at 4533. So, like one had a nice little push up overnight, this is when I was sleeping here, but we had a nice strong, almost marabou Zhu candle came on heavier volume, okay, so that entered and then what you can see, though, look at this really long, wick. So that's just one of those pump fakes there at that time, guys and that's what's so difficult about this space. When you can have wicks that are three to four percent it's very difficult. But what you can see there is, then we had big selling right behind it, so that's what these whales can do, they can jump in get people buying and then all of a sudden they rip it back out and some of them they'll even shorten it.
On the back side, then so they're making money on the long side and the short side just one moment, guys mmm. So you think about that and you go okay and you have to be aware of that. The fake out, breakouts and now you can see we tested with that wick into all this congestion zone, because this is what litecoin would have to get over top of now and what I've been having people just be aware of here is: was this Bear Flag where You have this straight shot down. You start to move up on less volume. Now you can see. We have this manipulation, which throws another monkey wrench into everything. But you know you with a with a bear flag: you have that large pull down and then the volume dries up as you go up, then you actually get another leg down and you still want to be aware of that. Until litecoin starts getting over top of 48 dollars, 49 cents then be up around 50 dollars psychologically, then the big number would be fifty one dollars and same deal here. Maybe it'd be better to wait if we did get up into this area to try to trade between fifty one dollars in that fifty seven dollar area. That might be the area where the profits made, so you don't get whipped around or chopped out or in trouble. In this area here or you have a potential Bear Flag that dumps down hard on you, you know guys.
Technical analysis is all about the buying and the selling that's why this is important, because you're watching the buying and the selling pressures take place. But look in this space, I mean you can see right here, guys, look at this huge pump up and you think you just keep moving. We consolidated sideways everybody who's ready for the next leg up and look. What happened I mean that's just is what it is in the space and you have to protect your capital. I believe capital preservation is number one in this space, so you can take take advantage of those big swings, that's what's important, but this is litecoin on the four hour time frame right now. If we turned on our 200 moving average, you can see we did get up above it with that candle, which is important and then on the 50. Here you can see we have that also as support right now on the 4 hour time frame. So it was just weird to see this come in because it was huge stick of volume to the upside, but then you had another huge stick of volume now selling off right behind it. So just just be careful, I guess is more so you know the patient. Will be rewarded is more so what I'd say right now and then what we're gon na do we're going to get into aetherium next, you guys also, if you like, that live stream from the other day, and you want me to do more of that.
Let me know down low as well: we'll start throwing that in more often so for aetherium. What you can see on this chart is where we continuously 175 to be held as support, and remember this. On the 4 hour time frame, we're still trading up above our 50 and our 200, so you can see there's still the trend moving up and putting in those higher lows, but we need to hold as well that 205 that we've broken back up through again see That and so right here it was support and then we broke down through. Then it was resistance right here we came back down and we tried again, but I believe we need, though, is heavy heavier volume, because we also have these overhead resistances. Now, if that 218 up to around that 225 – and we also need to get out of this yellow downtrend, you can see I've had that drawn for quite a while. Now we need a nice strong trend line break. If we get that on heavy volume, then we could start talking about going back up and test them about 286 dollars, but we're just not there yet, but guys. Look at technical analysis, as my eye is just looking around here. You can even see this top here. How we came up pushed up came back down, we tried again to get up top failed. We came up again and then look at this. Try on weaker volume right and that showed it was over, and then we had that huge dump, and then this right here.
This were these: these bear Flags that's. What I'm trying to tell you all to be cautious of when you have that big pull down and you're moving up on less volume, your reaction, you can get a huge dump, so just be careful, that's. All I'm saying really watch the volume, be careful I'd rather tell people to be careful, then say: hey it's, going to the moon for sure and and jump on in there. You know that's, not that's, not what I want to do. I don't want to give financial advice. I want people to learn how do technical analysis, but look at this market with a level head, there's still a lot of overhead resistances. We need to get through right now and that's very important for us and we need to hold that 205. But you know this trend could definitely continue here guys and we could make a strong move to the upside. If Bitcoin wants to cooperate and we can start having nice candle closes up above this yellow trend line, it can be a real trend line break. So then, our relative strength there we're at 63 right now still putting in higher lows coming in there as well. You can see our RSI will get up into the 90s. Sometimes when we have a nice run, mm hmm and guys. I apologize haven't been feeling the best here so just deal with me and my throat so that's the theorem and then we're gon na get into did you bite next we've basically been having temperature swings of almost 50 degrees in a week, so very volatile weather, where I live and it can just really mess with your sinuses and everything like that.
So just just pull with me or go from 32 në 85 in the matter of a week. So what we're gon na do is look at. Did you bite here? We'Ll go to bit tricks and also, if you're here, to watch some did you bite guys, let me know down low, but these are some of the things we've been warning about. Remember how we were talking about the top area here and guys taking profits if you've been watching. Did you bite for a while, and this is the thing I just I point that out, so you can continue to learn this stuff as well. So the last time we were here, we were looking at this bullish engulfing candle and we need to get back up above that 0.024. 6 4 was the area that we needed to get up above to go up and set a higher high, and we ended up failing here. We ended up failing around 0.02 në 3 right there. Now what's important is. We need to hold it. Support. 0.01 734 is gon na, be the support area if that doesn't hold I'm gon na look down probably to around this 50 moving average on the one day time frame at 0.01, 2. 4. 6. But you see the importance of taking profit and looking at this stuff, like the heavier volume, sell offs at the top here so right now you can see what the volatility stop. The trend is down so we're in a short term.
Downtrend now so it's important for did you bite to hold some of these areas so that we potentially could go up and make another higher high that's? What it's going to be all about, but we to watch and see, is this trend here. Is that maxed out now and are we're gon na start this retracement process where we can sometimes even retrace you know, half the move or a little bit more into that 0.618 or 0.786? You can see the heavier volume is well selling off. Look at this volume that we've had and this move compared to all this. This is why volume matters guys really pay attention to it, it's a little tip for you there and then relative strength, and when I started, I didn't pay enough attention to it. So you can see the lower highs. Remember we're, talking about that as well. Whenever you see the top and we started losing strength, that's going to show you that a little bit of a sell offs coming so just be careful watch the support resistance areas guys. I appreciate you being here with me: if you get something from this life subscribe, let me know down low what you've been doing, what you're thinking and we'll just continue to go on from here.