Topic: Wyckoff Mode Technical Analysis - page 2. (Read 12120 times)

Here's our 9-Day Time Frame;

I will have a LIVE Stream on my YouTube channel in approximately 1 hour 20 minutes from now (3pm Central Time in the U.S.)
This LIVE stream will be used for "analysis" and NOT used as an "Ask Me Anything" (AMA) stream in order to keep it as beneficial as possible to viewers.

https://www.youtube.com/channel/UC8IbhpQwrTD6BozJPWnyAHA

Here is most recent publication for BTCUSD on TradingView:  https://www.tradingview.com/chart/BTCUSD/KUQQ1Nri-Chance-of-Reversal-to-Upward-Pressure-Will-Know-More-When/

The PURPOSE of posting these three (3) together in multiple time frames is simply to point out we must not assume BTCUSD and GOLD are completely correlated.  We must also not assume if the Dollar goes up that BTCUSD must go down along with GOLD.  To the contrary, BTCUSD can go up WITH the Dollar while GOLD goes down.

BTCUSD (Top); DXY (Middle); GOLD (Bottom) in 5-Week Time Frames:


BTCUSD (Top); DXY (Middle); GOLD (Bottom) in 4-Week Time Frames:


BTCUSD (Top); DXY (Middle); GOLD (Bottom) in 3-Week Time Frames:


BTCUSD (Top); DXY (Middle); GOLD (Bottom) in 2-Week Time Frames:

Brief Discussion of More Complex Wyckoff Accumulation Schematics  https://www.tradingview.com/chart/BTCUSD/4FREQt68-Brief-Discussion-of-More-Complex-Wyckoff-Accumulation-Schematics/

BTCUSD - "Currently in Race Between Energy in 3 hour and Red RSI in 6 hour." https://www.tradingview.com/chart/BTCUSD/u2quAoy4-Currently-in-Race-Between-Energy-in-3-hour-and-Red-RSI-in-6-hour/

Here is the new video publication; titled, "Shakeout Still Possible; Please Listen Closely to This Strategy!"
https://www.tradingview.com/chart/BTCUSD/IlhQNvOe-Shakeout-Still-Possible-Please-Listen-Closely-to-This-Strategy/

BTCUSD - "4-Day Energy Likely Wins Race Against 8-Day Red RSI..." https://www.tradingview.com/chart/BTCUSD/bGlRHDYH-4-Day-Energy-Likely-Wins-Race-Against-8-Day-Red-RSI/

Have a look at the White Energy in 2013 in this Daily Time Frame.  Does this mean we are about to see a significant drop?  No...  However, it does mean we must respect the POTENTIAL for a decent drop because the Energy higher than the Green typically implies downward pressure likely remains.





Here's a look at the White Energy higher than the Green PRESENT DAY:

Hi Exstasie,

Yes, I agree...

Thanks for your thoughts as always, David.

I've been thinking along similar lines. Short term support in the $9,000s and likely a fill of the weekly CME gap. The possibility is open that this could end up as a time correction that goes no lower than the $9,000s but if it ends up playing out as a sharp / price correction, I see room all the way down to the low $7,000s on the weekly chart.

BTCUSD - 7 minute 32 second video; titled, "Still Downward Pressure; Any Decent Move Up Likely a Bull Trap! https://www.tradingview.com/chart/BTCUSD/yT0IYiAz-Still-Downward-Pressure-Any-Decent-Move-Up-Likely-a-Bull-Trap/

As pointed out in this video, we are currently in a race with the White Energy in the 2-Day and the Red RSI in the 4-Day. We have approximately 15 hours remaining in the current 2-Day and 4-Day time frames. At which point I'm anticipating the Red RSI in the 4-Day to win the race to the 50 level before the White Energy in the 2-Day can "close" above the 50 level. Which means we will ignore the White Energy in the 2-Day and turn our focus to the White Energy in the 4-Day; as well as the Red RSI in the 8-Day Time Frame. We "must" conclude we are still in downward pressure until the White Energy can win a race to the 50 level. Does this mean we ignore the White Energy and the Green Line in lower time frames; such as the 12h, Daily and 2-Day? No, because we can look for clues in those time frames to determine if our downward pressure may come to a close and reverse to sustained upward pressure before the race between the White Energy in the 4-Day and the Red RSI in the 8-Day comes to a head.

It's also quite obvious we continue with this downward pressure at least to mid September because of current development with the Red RSI in the 4-Day likely to win the race with the White Energy in the 2-Day. How long into September or October this downward pressure progresses remains to be seen. We'll know more by mid September. In the meantime, I would be very hesitant to create a margin long with low leverage just yet. One must also be hesitant to open a margin short position. If I were given a choice between the two and I was forced to choose one or the other, I would choose margin short on low volume . Where could the price potentially fall to? Well, the next stop would be the 50-EMA in the Weekly in my opinion; similar to what was done in August, 2016 going down to the 50-EMA in the Weekly during the BitFinex hack. It's possible it could fall down only to the 0.786 FIB ReTrace between $9,508 and $9,610. However, judging by how many margin longs compared to margin shorts we currently have on BitFinex; I would not be surprised if we fell deeper to around $8,2xx.

Appreciate your continued support and as always... Stay Awesome!

David

NEW VIDEO PUBLICATION:  https://www.tradingview.com/chart/BTCUSD/QZpKJtGV-Next-Target-is-9-508-to-9-610-Price-Range-0-786-FIB-Re-Trace/

History of Bitcoin Using Wyckoff Method:

Hello, this thread has been on my watchlist recently.

If you plan on doing ETH in your free time more often, may I suggest that you create a separate thread for altcoin speculation rather than mixing it here? Here's the board to post https://bitcointalk.org/index.php?board=224.0 You can make it self-regulated too to avoid spam.

Here is the link to PART 2 LIVE Stream... We had technical difficulties with previous LIVE Stream and had to restart.

https://www.tradingview.com/streams/DXmtrXM5Xo3DXdiJEvV15/

Had to delete previous stream...  Here's link to NEW LIVE STREAM...

https://www.tradingview.com/streams/gZrwORV6A6sRt3JYOMpuN/

I'll plan on getting one for ETH done based on available data within the next 7 to 10 days.  Super busy on other projects at the moment.  But Yes, I'll work on one...  By the way... Here's my most recent ETHUSD publication posted August 31, 2020 with recent updates in the description:  https://www.tradingview.com/chart/ETHUSD/LxgmfqKt-Like-Bitcoin-ETHUSD-Setting-Up-Over-Next-2-Days-15-Hours/

Thank you and could you do a long-term Chart for ETH too ?