As we continued now what's happening, is we tried to find support and that was write off the area we're looking at yesterday about fifty eight hundred dollars and since then we've gotten a nice little move back up above we'll call it about 6300 and with that move That was significant, but what we need to see now is for us to have support off of that 6300 area. So right here right now, we need to find support and then make that next move up for me, I'm, not convinced, and I would not want to be buying Bitcoin until we break out hard from around that sixty eight hundred dollar range and what I want to See us even do is back tests that find support off sixty eight hundred to seven thousand dollars and then make our next move to the upside, because right now guys this is an ugly chart. If you really zoom out – and you take a look at this – we had our trend line break. You can see this top that we had where we made it to about seven thousand dollars. Here we fought back and forth with it from roughly. We will call it March 24th, all the way till we broke to the downside March 28th. So up here we had many chances to where we could have followed this trend line and made a nice strong move to the upside and that didn't happen. You can still see, I have my alert up there, seven thousand nine.
So for me right now, this is still a no trade area. I do not want to be going long in this area and that's. Just me. I know some people will say: hey you need to by any chance you get when Bitcoin goes down, that's, not how I play this game. I look to be in an uptrend when I'm going to be playing these things. I want to be up above the 50 moving average on the 4 hour on the one day right now, we are back up above it on this one hour time frame, so I would want to continue to see this hold as support and that's going to be At 6000 159, but what we have to realize is we're still overall in a downtrend right here we are still making lower highs. You can see lower high, lower high or high lower high. All these have been lower highs. This would still be a lower high, so until we get up through that area, I'm not convinced guys and that's, just where I'm at with Bitcoin right now, I am not convinced in terms of taking a long position. I'Ve still been sitting back right now patiently waiting, but we still have this. Trendline is overhead resistance. We have all this Chavez overhead resistance if we throw on our 200 moving average right now. We are basically right at it right now on the one hour time frame. What we're gon na do we're gon na work back here, we're gon na go to the four hour time frame next still trading below our 200 moving average on the 4 hour that's at 7000.
131. So, like we said around that seven thousand dollar range, we are right now having a little bit of resistance, pressing down upon us on the 50 moving average on the four hour time frame, that's going to be at 6300 and 84, so the trend is down even On the four hour time frame, then, if we get into the one day, what we're looking at is that death cross taking place there if we put on our 20 ma we're still below that which is an important level and then our 40 moving average as well. So, as you can see, the trend is still down so to take along from this position is a little risky in my opinion, so we did find a little support here if we close this candle to today, right where it's at that would be a bullish engulfing Candle and maybe that'll be enough if it comes on more volume for us to maybe start to get back up above that 6800 or 7000, but right now, it's still just a risky area that's. What I'm trying to point out to you guys it's a risky spot to say you know what I want to go long here. If we look at some indicators on the one day, time frame because it's important, we look at our stock right now, our stock. We did have our downside cross right up here with these little spinning top candles really tight candles at the top there we did have our downside cross had a little bit of continuation to the downside there right now, we're at 75 and 78 looks like it's trying To cross back to the upside, but just be aware of that next one we'll look at is our relative strength.
Index RSI is at 45. We are having those nice higher lows coming in there, so that's good we're trying to get up above about 48 we'll call. It on the RSI see if we can break up above that then we'll look at our MACD on the one day. Time frame. We did have our bullish cross right down in this area here when we had a last bullish, engulfing candle and right now the histogram a little bit more neutral. I would say you can see how we went up. We came back down a little bit now. We'Re leveling off a little bit, so we have to keep an eye on that as well, but for Bitcoin, like I said, going back to the one hour time frame and we zoom in here, we just want to be careful in this spot right there. You can see we're seeing a little bit of rejection right around that 200 moving out average on the one hour time frame which we dropped down below on the 27th of March. You can see these long wicks where we've reached up, and we just didn't have enough to get up above it. So we're gon na have to watch that as the day takes place or as these candles happen, but this would be the area I want to see. Hold would be that 6278 right here that previous resistance that we broke up through, we would want that to become support, set a higher low and then make that next move up.
But for me right now, guys I'm, just sitting back I'm waiting for a good opportunity and right now there's just too many things going against Bitcoin do. I hope Bitcoin gets another massive pump to the upside here and we get up to 7000. Absolutely guys. I root for Bitcoin, but I also am a realist about Bitcoin and I'm gon na play this in terms of trading and to me right now. This is a dangerous area, that's just what I'm thinking there. So that's Bitcoin guys, if you get something from that like subscribe, hit that notification bell really watch out for those areas again we want to see us break 7000 would be the key, and we don't really want to go back down below that 5800, where we did Previously find support here and we want to see more volume, so that's Bitcoin we're gon na get into litecoin next we'll move out to the four hour time frame for litecoin and guys, if you're part of the litecoin family. Let me know down low. If you enjoy me covering litecoin smash that leg button so right now we're at ' for our light coin here and you can see on the four hour time frame we're in this rising wedge getting tied up in here, we had a downside break, but now we've Really just been consolidating sideways, the volume is still low, so we're waiting for that next break, whether it be back up to try to back test this rising wedge or if we will start breaking down through that 36 35 cents.
So if we really zoom in here, what we're looking for is higher lows to start coming in higher lows and high hi, so we broke down right here out of our rising wedge pattern. It came back up, tried to get in this trendline and we failed came back down. We actually set a higher low from the area we were at. Around 36 60 came back up, could not set a higher high so now we're, just in this little equilibrium. Chopping side to side in a channel between we'll call it 40 and around 36 45, but still this is an area with this low volume, with what's, going on with Bitcoin I'd, be a little nervous to just say: okay, I'm gon na jump in right now, cuz. We could see these lower numbers guys if we break down through 36 38 we'd be looking at 34 37 around there and then it'd be about 32 56 and then to the upside. You can see we have some wicks right in here, but we wouldn't need to get up above ' dollars and sixteen cents and then break back into this trendline and start trying to make a move to the upside. Now, on the 4 hour here, the moving averages are moving sideways, so they're not going to tell you as much as kind of directionless right now, but we do have this 200 moving average on the four hour time frame, that's swooping down upon us that could act As overhead resistance and that's gon na be a 46 dollars and 37 cents, but right now, we're just really moving sideways we're waiting for that next movement direction.
The next pop of volume is gon na. Tell us a lot if we're gon na come up here and try to challenge that 40 range right up here, all that resistance. But if we're gon na start heading back down to those lower levels, around 36 38 we'll call it now let's get into a couple indicators on the four hour time frame here. We'Ll take a look at our stock stock is overbought right now, we're at 95 and 99 had our bearish cross on that. Yet next one we'll take a look at is our relative strength index. So what I would draw on our relative strength index here is this line right there and we'll see if we can break to the upside there. If we do you'll see a nice little trend line break if it comes on some volume – or this is gon na act as an overhead ceiling for us and we're at 54 on the RSI there. So a little bit more strength and then we'll look at our MACD MACD. We did get a bullish cross histograms, trying to tick to the positive there, but still not a lot of volume. So it's not going to tell you a ton right now so for litecoin, guys it's, you just chopping back and forth in an equilibrium here I say just be patient and really see if we can start breaking up here trying to get back in this trendline or If we're gon na hold, you know 36 38, if we make a down side break so that's, litecoin, guys and then we'll move on to aetherium take a look at aetherium.
So aetherium is at a hundred and thirty two dollars and eighty eight cents right now. We'Re up about six percent six and a half percent same deal here. What we're, looking at for aetherium just really chopping sideways right now, on the four hour time frame, you can see along this support that we had up here. This was around 127 or so we would want to hold that, but the candles yet again are getting pretty tight and we want to continue to see that move to the upside. Here we want a nice strong break, so we can get up above 142. Then we call it about 147 and then it's gon na be at around 170 dollars would be a key point for us. That'S gon na be that 200 moving average on the four hour time frame and guys. You know we lost that over here. That was March 20th and since then we've been trading below it. So if we really step back and take a look at the theorem here, we get some of these lines off, so we can start drawing some of our own let's see here. Let'S really want to take a pure look at price action with you all right, so volume guys extremely low, as you can tell right, and then what we're gon na draw is a trend line right here. This is a trend line that we need to hold and some people would say that we're in a bit of a symmetrical triangle here.
If we take a look at this, could even go down into that and you can see we're getting a bit of the lower highs, higher lows and we're gon na get that squeezing effect. We have to see if we break to the upside here. If it's gon na be a downside break, if we do start breaking down I'd look at 123, then probably around 110 and then about 104, but with us not having a ton of volume right now. That'S word suspect. We just are not sure. What'S going to happen is gon na be whale manipulation. We'Re all sudden, we see a straight shot up, challenging that 200 moving average on the 4 hour time frame at 170, or is this gon na be one of those big nasty trend line breaks guys? So this is just really an area that I feel as though you need to be careful in because the price action is really tight. Take a look at this. If you see just a lot of chopping back and forth, moving sideways back and forth chopping and it's, like neither direction, really wants to give it up, you have the Bears pressing down. You have the Bulls trying to buy these dips when they're coming in and now it's, just a matter of when are we going to break out and which directions are gon na be so right now guys? Overall, though, the trend has been down, so we have to realize that traditionally, if the trends down these consolidation patterns will want to break to the downside, but overall we've talked about this many times, it's cryptocurrency anything can happen in the space guys changes by the minute And it just is what it is, so you have to do the best you can.
You have to look at the supply and demand on the charts for things like this and kind of just put the odds in your favor and for me right now, it's sitting back looking for a good opportunity. I don't feel comfortable jumping into the market right now. So god bless you all. Take care like subscribe hit that notification bell. You get some from this.