Elisa's Charts

Considering demand - we have daily demand not far below on BTC and a weekly below that. ETH a long gap to a 2d at the base and note the CME gap left just below too. There is also a fairly big gap up to daily/weekly supply on USDT.D. Demand is not well aligned i.e. if BTC bounces on the immediate daily demand it's likely ETH will be having to pick up a random indirect zone/ S/R level, or ETH will pull a bart down in which case BTC won't hold the daily zone. Obviously I'm cautiously ltf short biased at current prices being in supply and top of range (also note ETHBTC being in 1M supply) - need to see what demands hold if we get retests and/or if the bulls are not going to give retests I will look for alts to trade instead!

Sorry was afk yesterday, and was waiting on Monday for Monday fuckery to settle before posting, so didn't get to update nor to get involved with the meme ETH news :D ETH didn't give a test of the daily before breaking up in apparently the biggest daily candle for 3 years. BTC held an immediate test of the daily demand on Monday before going up with ETH. BTC pushed high into the 2W supply on the USD pair, however the KRW pair is consolidating at the base. Similarly, the ETH pair went through weekly supply on the USD pair with the KRW pair remaining slightly lower. Today the dollar has moved up more strongly and some of the indices have started to retrace - NQ remains a bit stronger than the other two and we have NVDA earnings in a couple of hours. BTC seemingly unaffected at present but could follow so be wary - however it/they may be waiting for the actual ETH ETF news due tomorrow. In addition USDT.D is now retesting the 6M demand level it previously dipped into.

Inflows continued to the ETFs for the rest of the week

#BTC and #ETH have both made it to my zones of interest for shorts and have given scalps so far. BTC has another immediate daily demand and is likely to create a weekly below. ETH held the retest of the lower daily and put in a new one stacked on top.

Will update the majors again tomorrow once I see the 1W and 2W closes. All pushed higher in supply with BTC in most cases without testing the daily demands, but for the most part haven't broken out except LINK off the JP Morgan news (and SOL/NEAR/BNB which were already strong). The others look at this stage like they will have new weak weekly supply.

So yeah as you can see ETH and many majors are still in those higher tf but weak supplies, but are holding higher lows with new daily demands. Ideally we want supply to break before looking for longs on the daily demands as they are weak at present - but you can watch for the tests to see if they hold. If BTC does drop through its own daily demand these will break though - even possibly SOL and NEAR.

#NEWMAJORS B - #DOT held 8h demand and is now testing alerted short entry at 2d supply inside weekly. Also has a new daily demand. #SOL and #NEAR didn't give my bigger drop but held the higher tf zones initially alerted. I've added new alerts on these for tests of new daily demand. #ATOM disappointing since it looked one of the better ones previously. It held but came deep in the 5d and weekly demands. Also didn't bounce as much as others so meh! But keep an eye on it in case it's a late bloomer.

#NEWMAJORS A - #BNB dropped nicely into the long entry on 3W demand but also made 3d/5d supply so I alerted that yesterday. Testing now. #LINK hit weekly supply. #MATIC and #ADA bounced into local supply but only had the higher shorts on these due to chop. All of these triangling off trendlines at the lows.

#OLDMAJORS - Need follow up PA on these - lots of triangles but not much breaking of supply as yet. #EOS dropped off the original short entry but then held demand. Still in weekly supply but with new daily demand below. #BCH hit 4d supply short entry, also new daily demand below. #XRP held long entry and then hit short entry in weekly supply. Also has new daily demand. #LTC made a 5d supply after my last post, currently testing.

#ETH - Similar to the other old/new majors which are mostly now testing the short zones I updated for you last time (will update these again later). ETH hasn't gone very far compared to BTC with ETHBTC still dumping. Held long term trendline at the lows, and has stopped at short term trendline and various 1d-3d supply at the high. Still a descending triangle/channel which could go either way. Watch to see if the new daily demand holds (at the moment low probability). #ETHBTC - would like to see monthly demand hit, however note that the 61 fib also coincides with the 3W level sooner. #ETH.D somewhat out of alignment, structurally should take out 2022 low but is also now in weekly demand.