Wyckoff Mode Technical Analysis - page 25.

figmentofmyass

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Quote from: dmwardjr on October 11, 2019, 12:03:32 PM

We have one hour remaining in the current 6h Candle. The white energy in this 6h Candle looks like it could potentially continue with downward pressure a bit longer. Which means we may have to wait another 6h candle or two before this current bout of downward pressure draws to a conclusion.

yesterday's video suggested we had 4.5 days (now 3.5) to establish the bottom, right? i'm keeping an open mind here. a wick to new lows that gets quickly bought up still fits that scenario.

i'm staying conservative because i'm mainly interested in when i can start leveraging long again. it's still too dangerous right now.

dmwardjr

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Quote from: exstasie on October 11, 2019, 11:57:57 AM

Quote from: dmwardjr on October 10, 2019, 03:45:44 PM

"BTCUSD Has 4.5 Days to Dump Lower if it's Going to Do So."

https://www.tradingview.com/chart/BTCUSD/TYIntoqz-BTCUSD-Has-4-5-Days-to-Dump-Lower-if-it-s-Going-to-Do-So/

Nice rejection by the bears last night:

What do you think, does that begin our last shot at new lows? I've still got some stink bids in the $6,000s I haven't pulled yet. Maybe there's still a chance.

We have one hour remaining in the current 6h Candle. The white energy in this 6h Candle looks like it could potentially continue with downward pressure a bit longer. Which means we may have to wait another 6h candle or two before this current bout of downward pressure draws to a conclusion.

exstasie

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Quote from: dmwardjr on October 10, 2019, 03:45:44 PM

"BTCUSD Has 4.5 Days to Dump Lower if it's Going to Do So."

https://www.tradingview.com/chart/BTCUSD/TYIntoqz-BTCUSD-Has-4-5-Days-to-Dump-Lower-if-it-s-Going-to-Do-So/

Nice rejection by the bears last night:

What do you think, does that begin our last shot at new lows? I've still got some stink bids in the $6,000s I haven't pulled yet. Maybe there's still a chance.

dmwardjr

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"ETHBTC Dumps Soon; Consider Getting in Bitcoin; Read Comments..." https://www.tradingview.com/chart/ETHUSDT/0fsLhTK2-ETHBTC-Dumps-Soon-Consider-Getting-in-Bitcoin-Read-Comments/

BELOW: Is a 3-Day Chart I put in comments section of the video publication linked above:

ETHUSDT (Left); ETHBTC (Middle); BTCUSD (Right):

dmwardjr

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"BTCUSD Has 4.5 Days to Dump Lower if it's Going to Do So."

https://www.tradingview.com/chart/BTCUSD/TYIntoqz-BTCUSD-Has-4-5-Days-to-Dump-Lower-if-it-s-Going-to-Do-So/

dmwardjr

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My Marky,

Thanks for dropping by to comment...

Quote from: marky89 on October 09, 2019, 03:51:02 PM

Quote from: dmwardjr on October 09, 2019, 11:45:17 AM

BTCUSD -

"For You Skeptics: Bottom is in - Price Down Pick Up!"

https://www.tradingview.com/chart/BTCUSD/1M2tNSGE-For-You-Skeptics-Bottom-is-in-Price-Down-Pick-Up/

What a sight for sore eyes! It's nice to finally see one good analyst who is predicting a bullish resolution. It seems like everyone else is licking their lips for a dump to $6000.

I believe many of those anticipating $6k's will get left behind. At least from the looks of the indicators currently.

Quote from: marky89 on October 09, 2019, 03:51:02 PM

Quote from: dmwardjr on October 09, 2019, 12:30:12 PM

THEN once the price action is taken up to the $9,300 to $9,500 price range, we will see many novice traders begin to experience FOMO and buy in at or near the top of the $9,300 to $9,500 move; ONLY to experience "fear" once again when the price action comes back down to around $8,300 to $8,600 price level.

That's where I intend to get back into the market. I want to see some strength from bulls first, then I'll buy into the pullback.

I would pay close attention to what the price action does here before legging up. If there is not a fairly decent pullback from here, the price action may act similar once the $9,300 to $9,500 price range is reached. We may not see a decent pullback until around the $10,500 to $11,500 price range.

marky89

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Quote from: dmwardjr on October 09, 2019, 11:45:17 AM

BTCUSD -

"For You Skeptics: Bottom is in - Price Down Pick Up!"

https://www.tradingview.com/chart/BTCUSD/1M2tNSGE-For-You-Skeptics-Bottom-is-in-Price-Down-Pick-Up/

What a sight for sore eyes! It's nice to finally see one good analyst who is predicting a bullish resolution. It seems like everyone else is licking their lips for a dump to $6000.

Quote from: dmwardjr on October 09, 2019, 12:30:12 PM

THEN once the price action is taken up to the $9,300 to $9,500 price range, we will see many novice traders begin to experience FOMO and buy in at or near the top of the $9,300 to $9,500 move; ONLY to experience "fear" once again when the price action comes back down to around $8,300 to $8,600 price level.

That's where I intend to get back into the market. I want to see some strength from bulls first, then I'll buy into the pullback.

dmwardjr

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"More Thoughts Regarding Accumulating Bitcoin w/Altcoin Pairs."

https://www.tradingview.com/chart/BTCUSD/HkmbfXKX-More-Thoughts-Regarding-Accumulating-Bitcoin-w-Altcoin-Pairs/

dmwardjr

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Quote from: exstasie on October 09, 2019, 12:18:25 PM

Quote from: dmwardjr on October 09, 2019, 11:45:17 AM

BTCUSD -

"For You Skeptics: Bottom is in - Price Down Pick Up!"

https://www.tradingview.com/chart/BTCUSD/1M2tNSGE-For-You-Skeptics-Bottom-is-in-Price-Down-Pick-Up/

A real live bottom call! That's a rarity these days among all this pessimistic sentiment.

I've got mixed feelings. We didn't get the classic high volume BTC capitulation I was looking for, but then again we didn't in July 2013 either. I'm still concerned this may be short term relief rally type action before the final shakedown. Bitfinex longs are still stubbornly high.

I understand your "concern." However, I believe they plan on a short squeeze at current price level $8,500 to $8,700 before taking it up to $9,300 to $9,500 price range. People have been in "fear" for quite a while and this is an opportune time for them to accumulate more coins with less competition for those coins while "fear" is still prevalent. THEN once the price action is taken up to the $9,300 to $9,500 price range, we will see many novice traders begin to experience FOMO and buy in at or near the top of the $9,300 to $9,500 move; ONLY to experience "fear" once again when the price action comes back down to around $8,300 to $8,600 price level. Many will sell then at a lower price because of "emotions." Then the price will chill there for a bit before continuing back up once again and they buy back in at a higher price than what they sold.

That's my two cents...

exstasie

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Quote from: dmwardjr on October 09, 2019, 11:45:17 AM

BTCUSD -

"For You Skeptics: Bottom is in - Price Down Pick Up!"

https://www.tradingview.com/chart/BTCUSD/1M2tNSGE-For-You-Skeptics-Bottom-is-in-Price-Down-Pick-Up/

A real live bottom call! That's a rarity these days among all this pessimistic sentiment.

I've got mixed feelings. We didn't get the classic high volume BTC capitulation I was looking for, but then again we didn't in July 2013 either. I'm still concerned this may be short term relief rally type action before the final shakedown. Bitfinex longs are still stubbornly high.

dmwardjr

legendary

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Technical Analyst/Trader

BTCUSD -

"For You Skeptics: Bottom is in - Price Down Pick Up!"

https://www.tradingview.com/chart/BTCUSD/1M2tNSGE-For-You-Skeptics-Bottom-is-in-Price-Down-Pick-Up/

dmwardjr

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"$9,500 Possible by Mid October; "Price Down Pick Up!" https://www.tradingview.com/chart/BTCUSD/TUqGawpt-9-500-Possible-by-Mid-October-Price-Down-Pick-Up/

https://www.youtube.com/watch?v=lEBP9dpVM70

dmwardjr

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""One More Episode of Downward Pressure Before Reversal to Upside." https://www.tradingview.com/chart/BTCUSD/JzG9E4Qm-One-More-Episode-of-Downward-Pressure-Before-Reversal-to-Upside/

dmwardjr

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Quote from: figmentofmyass on October 06, 2019, 03:40:22 PM

Quote from: dmwardjr on October 06, 2019, 02:42:46 PM

I certainly see a wick to $6,650 as a possibility. Then quickly recover back to $7,750. I know that may sound crazy but I believe it will get very volatile once an attempt to dip to the $6k's begins.

with so many people aiming to buy $6k---and now bears coming out the woodworks looking for $5000s or lower---that sounds about right to me! there should be some serious volatility in the $6000s as impatient buyers front-run these lower targets.

the current market action looks like a slow bleed, now approaching the local lows, so it looks like we'll get our wick down pretty soon.

I'm in agreement with you 100% on the "front running." It's possible we do not go very deep at all into the $6k's.

figmentofmyass

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Quote from: dmwardjr on October 06, 2019, 02:42:46 PM

I certainly see a wick to $6,650 as a possibility. Then quickly recover back to $7,750. I know that may sound crazy but I believe it will get very volatile once an attempt to dip to the $6k's begins.

with so many people aiming to buy $6k---and now bears coming out the woodworks looking for $5000s or lower---that sounds about right to me! there should be some serious volatility in the $6000s as impatient buyers front-run these lower targets.

the current market action looks like a slow bleed, now approaching the local lows, so it looks like we'll get our wick down pretty soon.

dmwardjr

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I'm seeing this more like a descending wedge with a price target along the lower boundary of the descending wedge at approximately $7,388.29 or higher. If we were do bust below $7,388.29, I'm leaning more towards $6,996.70 as the bottom.

dmwardjr

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Quote from: exstasie on October 06, 2019, 11:53:29 AM

Looks like the $6,000s are on the table after all, eh? That 1.618 extension is right in the neighborhood of the 0.705 fib of the whole 2019 uptrend and the apex of the 2018 triangle. There's also a volume gap there. Lots of reasons for the low $6,000s to be the bottom.

Goes right along with Masterluc's prediction as well, which is playing out beautifully so far. https://www.tradingview.com/chart/BTCUSD/JSP3KDmy-New-long-term-prediction-as-I-see-it-now/

It's certainly possible for us to wick down to the mid to upper $6k's before closing out a 4-Day Candle in the mid to upper $7k's. The current 4-Day candle began on October 4th and the next begins on October 8th. I believe it's the 4-Day Candle beginning October 8th in which we see our serious volatility with push downward to determine our new support level. I certainly see a wick to $6,650 as a possibility. Then quickly recover back to $7,750. I know that may sound crazy but I believe it will get very volatile once an attempt to dip to the $6k's begins.

That was a damn good prediction by Masterluc from first week of December, 2018. Grin

However, his low was $2,275 on that first drop down for our Selling Climax. We ended up going $3,122.28. It's POSSIBLE his price at the bottom of his arrow coming down may be a little too low. He sure as hell got the pattern correct though. Grin

Much respect for Masterluc and his analysis. He's the one who motivated me to begin learning technical analysis in 2014/2015.

exstasie

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Quote from: dmwardjr on October 06, 2019, 07:39:56 AM

Here's a look at the 2-Day TF: The White Energy may hit the 50% level on the 2-Day Candle beginning October 8th. If this is the case, it may require one or two more 2-Day candles afterward to find bottom and see a reversal from downward to upward pressure. Which means it’s POSSIBLE the bottom with reversal is not REALIZED until the 2-Day Candle that begins October 12th.

Looks like the $6,000s are on the table after all, eh? That 1.618 extension is right in the neighborhood of the 0.705 fib of the whole 2019 uptrend and the apex of the 2018 triangle. There's also a volume gap there. Lots of reasons for the low $6,000s to be the bottom.

Goes right along with Masterluc's prediction as well, which is playing out beautifully so far. https://www.tradingview.com/chart/BTCUSD/JSP3KDmy-New-long-term-prediction-as-I-see-it-now/

dmwardjr

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The White Energy is not telling us much in the 12h TF. Which forces us to use a higher time frame; such as the Daily and 2-Day; to get a feel on where the PRESSURE in the market is heading.

In the Daily (24h) I've drawn the Blue LSMA in Godmode trending down; I've drawn the Magenta RSX in Phoenix 1.391 trending down and the Green Stochastic RSI with custom inputs trending down BECAUSE OF WHAT WE SEE IN THE DAILY AND THE 2-DAY TIME FRAMES.

dmwardjr

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I've drawn lines within the indicators on the Daily (24h) chart to show the POSSIBLE future trek of the lines to indicate POSSIBLE future "PRESURE." It appears reversal to upward pressure could POSSIBLY begin on or around October 11th.

Here's a closer look of Godmode 3.1 Mod with LSMA in the Daily (24h): If you are wondering why I have the White Energy going below the Green 20% level horizontal line in the Daily (24h) TF, it is because the White ENERGY in the 2-Day TF (Shown in previous update) clearly shows more downward pressure is to continue. Which is why I have the White Energy in the Daily falling deeper than it's current levels and NOT reversing back to the upside at the Green 20% level.

I'll have a look at the 12h TF shortly to see what it may be telling us in a shorter term.

Topic: Wyckoff Mode Technical Analysis - page 25. (Read 12119 times)