Topic: Wyckoff Mode Technical Analysis - page 28. (Read 12112 times)

It's POSSIBLE for downward pressure to come to a close on or around September 21st; when looking at this 12h TF.

Well Exstasie, it looks like our 30-EMA has been hit in the 4-Day TF.  Next in line is the Gray 40-EMA in the chart below.  I believe it can hit the 40-EMA before reversal to upward pressure.  I'll provide a video publication later this evening.

Happy Trading Everyone!

Stay Awesome!

Update using the 4-Day TF before I get back to my office remodel:

Hi Exstasie,

Good to see you!  

Apologies for the delay responding.  I visited my parents today then I got busy remodeling my office once I got back.  I'll include a few photos of the progress below.

Thanks for dropping by and contributing.  The 30-EMA is still very much in play in the 4-Day.  The more I look at the 40-EMA in the 4-Day; even it is still in play if this keeps dragging out to September 30th.  You will see in this 4-Day chart I have a vertical time line at September 26.  The 40-EMA may very well be up near that Purple Trend Line I drew by some time between September 26th and 30th.  If so, we could be looking at $9,425 to $9,525.  Of course, they could do a hard dump as a shakeout before taking us up.  However, I personally believe that would be a gift to many who are waiting just for that.  I'm sure many have buy orders placed waiting for something like that.  Which is why they may not get the "gift" they are hoping for.

I'm thinking along similar lines. The door looks to be closing on real selloff below the $9K level. It seems more likely that we'll keep building out this contracting triangle range.

A dip to the $9,500-$9,600 area would be just about perfect. It would keep the triangle intact and would keep us inside the daily Bollinger Bands. So we'd still be coiling for upside breakout, while still shaking out the weak hands.

Thanks for sharing!

"Still Chance for Drop to 40-EMA in 4-Day TF by End of September." - https://www.tradingview.com/chart/BLX/Gx3TKtQ3-Still-Chance-for-Drop-to-40-EMA-in-4-Day-TF-by-End-of-September/

There's certainly still a chance for a drop to the 30-EMA in the 4-Day TF around $9,565.00 by end of September.  From what I'm seeing in the 2-Day TF, we may continue with downward pressure until the last week of September to first week of October before we see a reversal to upward pressure.  I honestly do not see a "significant" move downward in the works.  My opinion of course...

Happy Trading and Stay Awesome!

David

Weekly TF “without” indicators:



Weekly TF “with” indicators:



4-Day TF “without” indicators:



4-Day TF “with” indicators:



2-Day TF “with” indicators:

Hi FOMA,

Nice to see ya!  

Thank you very much for taking the time to research how BLX is compiled and the link.  I'll have a look at it later.

I'm currently busy working on another chart for another publication.  That video publication will cover indicators in my NORMAL chart with indicators.  However, I will also include Wyckoff analysis in the comments section.  Here's the BLX chart I'm currently apply Wyckoff Method to:  Still working on it.  Then I'll get to that video.  I'll be sure to post it here when  completed.

the index was developed by brave new coin. at this moment it's composed of coinbase, bitstamp, 2 kraken markets, gemini, and itbit. you can see the constituents (including historical ones) here: https://bravenewcoin.com/enterprise-solutions/indices-program/blx


i'm looking forward to it! i always love your videos.

has your view of the market changed at all since your last update on the 10th? it's starting to look like we'll end this correction totally sideways rather than hitting those levels in the $7000s or $8000s.

   
Hi everyone,

This chart (below) is "BLX"

I can only assume this ticker is an average price of all MAJOR exchanges throughout RECORDED history. I'm not for certain on this. It's only an assumption. I'm noticing several things on this chart that's not seen on a single exchange. I'll share my thoughts on BLX in a video publication later tonight.  I have more work in the office to do first.

Sharing a comment posted in comments section of the following publication by a loyal follower:  https://www.tradingview.com/chart/BTCUSD/o8G5hLfO-Part-1-Let-s-Have-a-Look-at-Moving-Averages-in-4-Day-TF/


@jpm6g
18 hours ago
Hey David,

I always check first to see whether or not you have posted when I stop by the site. I was happy to see that you had posted today. Glad to hear that your office is shaping up nicely, I know you've been busy.

My gut feeling is with you, that we will move sideways with a smallish dip to meet the 50EMA. I think that this will be more a case of sideways with the 50-MA traveling up to meet price more than price moving down. Just my hunch.I will begin layering in buys once I start to see movement down towards the bottom of the wedge we have formed, where I think we form a bear-trap and reversal to upward pressure.

Thanks again for your analysis and sharing your time and knowledge with this community.


@ProwdClown (dmwardjr)
Just Now

Hi JPM6G,

Thanks for following and your loyal support! VERY MUCH APPRECIATED. ; )

Yes, you may be right in regard to the 50-MA or 40-EMA in the 4-Day TF coming up to meet the price action rather than the price action coming down to meet the 50-MA or 40-EMA.

Your strategy to begin layering (scattering) buy orders once you see movement down towards the bottom of the wedge that's formed sounds logical. I believe that is a very good strategy. In fact, I'm going to share it with the community in an update to this publication. Thanks for dropping by and sharing your opinion.

Stay Awesome!

David




I FINALLY got the PC build completed with two NVIDIA 1080 Ti GPU's and an SLI Bridge to push those three 55 inch 4K TV's.  There is a 15 inch MacBook Pro on the sliding keyboard/mouse drawer to give you perspective of the size of each of the 12 charts on the three TV's.  It's literally like having four 27 inch monitors on each 4K 55 inch TV.  Now I have a LOT of cleaning and organizing to do before I setup the "L" shaped glass desk on top of an 8' x 10' rug.  Also need to setup my new mixer, microphones, 1080p video cameras, etc...



Finally got my network transferred over from my old mining room to the office and cleaned up the wire management a bit. 

The following chart is a visual of Bitcoin History Using Wyckoff Method in the 4-Day TF rather than the usual Weekly TF.  You can see we are approaching the end of Phase D in our third Accumulation Schematic and about to begin Phase E.  Here's a link to the video with a brief explanation of a Wyckoff Accumulation Schematic if you have not seen it yet:  https://www.tradingview.com/chart/BTCUSD/iw2SJB1J-Part-2-Where-We-Are-in-a-Wyckoff-Accumulation-Schematic/

This chart is my response to a good question about the Bitcoin Block Halving:

I respectfully ask you to no longer post here in this forum.  You are no longer welcome here.  I'm NOT going to argue with you anymore.  You're OPINION of me "losing" an argument is also subjective.  Which means I REFUSE to get pulled into an argument with you again.  It's the same similar comments you made in previous posts similar to the current one; such as your comment about women being allowed to vote; as to WHY I deleted your previous posts.  

You are biased against crypto and PRO precious metals.  I get it...  I also explained WHY I believe crypto is better than precious metals.  Unfortunately, you wanted to put words in my mouth (words I did not say) and continue arguing about things I DID NOT SAY.  You also included demoralizing statements in your baseless arguments about things I did NOT say.  My TIME is too valuable to argue about things I did NOT say.

It appears you have allowed your bias against crypto to deprive you of the ability to communicate respectfully with others who have a differing opinion.  Therefore, I respectfully ask you to stop posting here.  You are no longer welcome in this thread. It appears your only interest is to disrespect those who do not agree with your opinion by making demoralizing comments towards those with a differing opinion.  Your disrespectful comments are NOT profitable for discussion and by no means tactfully attempt to convince another reader to contemplate your argument(s); much less agree with your argument(s).

Also, this thread is to cover technical analysis for crypto while using Godmode and other indicators.  This thread is NOT for the purpose of discussing the pros and cons of crypto versus precious metals.  I would be perfectly fine with discussion of precious metals versus crypto and other subjects in this thread IF THEY COULD BE DISCUSSED RESPECTFULLY.  However, you chose not to be respectful from your very first post.  I tried to have a meaningful discussion with you while ignoring the disrespectful comments in your first post.  Yet, you followed up with more disrespectful comments and also stated things I CLEARLY did not say.  You tried my patience and used up my valuable time long enough.

ANYONE who comes into this thread with the sole intent of name calling while trying to debate a point WILL have their post deleted.  One can debate WITHOUT accusing another of lacking common sense, etc...  Such statements are unnecessary and not profitable for discussion.  One can make their point WITHOUT trying to demoralize another.  You should have made your case WITHOUT trying to demoralize someone and let the other readers be the judge with whom they agree and/or disagree.  Other readers are more likely to join in and contribute to the conversation if they feel like they can do so without being demoralized by another who's on a mission to disrespect others who have a differing opinion.

IF ANYONE uses phrases towards another contributor in this thread that's INTENTIALLY abusive towards the contributor, their post will be subject to deletion.

IF ANYONE CONTINUES to be disrespectful towards other contributors AFTER repeatedly being asked to refrain from their disrespectful behavior, they will be reported and permanently banned from posting in this thread.

In case you're wondering WHY I've made the previous stipulations; it's due to someone who violated those stipulations and resulted in their posts being deleted.  All I ask is to treat others as you want to be treated.  However, if you actually want to be treated like a degenerate, you are NOT welcome here.

"Part 1: Let's Have a Look at Moving Averages in 4-Day TF." https://www.tradingview.com/chart/BTCUSD/o8G5hLfO-Part-1-Let-s-Have-a-Look-at-Moving-Averages-in-4-Day-TF/

"Part 2: Where We Are in a Wyckoff Accumulation Schematic?" https://www.tradingview.com/chart/BTCUSD/iw2SJB1J-Part-2-Where-We-Are-in-a-Wyckoff-Accumulation-Schematic/

"Part 3: Downward Pressure Still Till Mid to Late September."  https://www.tradingview.com/chart/BTCUSD/Ux7AzzwZ-Part-3-Downward-Pressure-Still-Till-Mid-to-Late-September/

I've had a request to do another TA for bitcoin. I've been super busy remodeling my office while also selling more hardware (AMD graphics cards, motherboards, RAM, power supply units, power distribution units, CPU's, etc...) out of my mining room on eBay. I've had only 2 hours sleep over the past 37 hours.

If you watched the video publication I posted on the same day as this chart publication, you will be reminded I said I'm expecting downward pressure to continue to mid to late September. I also pointed out in that video publication I'm expecting the price to come down to the GRAY 40-EMA in the 4-Day time frame. That puts the price to come down to $9,120 "at a minimum." It's POSSIBLE we could go lower (as shown in the 4-Day chart below). I placed dotted lines to show the POSSIBLE future trek of the GRAY 40-EMA in the 4-Day TF, the GREEN 50-MA and ORANGE 60-MA in the 4-Day TF.

It's POSSIBLE we continue going out sideways (never substantially below $9,120) in a similar fashion as what occurred in 2012 before bolting upward again in late 2012. It's also possible we continue down further to the 50-MA or 60-MA in the 4-Day TF.

BOTTOM LINE: We will LIKELY continue with downward pressure for the LONG TERM until mid to late September.

Sure...  You are welcome.

Yes, I'm somewhat familiar with Gann.  I have posted a chart or two back in history in this forum using Gann.  However, I have not invested as much time required to use Gann as the creator intends for one to use it.

Yes, any downturn will be fuel for a strong bull move the 4th quarter of 2019.  I'm expecting us to test the All Time High by year end.

Thanks.good chart
Are you familiar with Gann method
Google if not and if you are interested in some alternative view
But that alternative are showing more or less the same like your chart and Eliot patterns
But Gann mathod are extracted 26.08 - 28.08 like pivot days for bitcoin
Whatever happen i think any downturn will cause strong bull move

Hi Pab,

Thanks for dropping by.  


I agree...  By the way, if you haven't watched this video yet, you may want to consider watching it:  https://www.tradingview.com/chart/BTCUSD/Hu0j6YGW-Downward-Pressure-WILL-Still-Continue-to-Mid-to-Late-September/

If we break below $9,700, we will continue down to my FIB at $9,120.16 once again with no problem.  If we begin falling significantly below my FIB at $9,120.16, We should find support within the price range of my Aqua colored box between my FIB's at $7,826.23 and $8,386.86 by mid to late September.  Also, if you haven't noticed, the GREEN 50-MA and ORANGE 60-MA in the 4-Day TF appears to be lining up with my FIB's at $7,826.23 and $8,386.86.

ROFLMAO  

The reason I did NOT use the term "Swing Trading" is because many people use the term "Swing" quite loosely without any clarification as to what time frame they are using to trade "Swings."  This is why I was more descriptive (detailed) with what time frames are used with different types of trading.

Not everyone has the same amount of time available to trade.  Some may have full time jobs and cannot afford the time to trade full time to qualify as a "Day Trader" like myself.  Which is another reason why I was more descriptive in regard to different types of trading in different time frames.  I provided that information to especially inform new traders what time frames they should be using with indicators for the amount of TIME they have available for trading.

I agree with you on the occasions when there is a big red candle followed by a big green candle.  Those do occur on occasions.  It also depends on the time frame you're trading in accordance with what type of trading your doing.  My reply cannot be simply cut and dry because of different scenarios.  One must keep in mind that SEVENTY (70) PERCENT (%) of your capital invested in a particular crypto pair should already be off exchange in cold storage.  At least that is my personal preference.  So, if a big red candle played out on the Daily and followed by a big green candle on the Daily, I'm not worried about that kind of price action for the 70 percent bag I'm holding off exchange in cold storage.

It's the remaining 30 percent you may or may not have on exchange in which a move like that may freak you out.  Also, I prefer using TRAILING STOPS instead of "stop loss" or "stop limit" orders.  Maybe you're thinking, "My exchange does not have a 'trailing stop' feature?"  If that is what you're thinking, that's why I mentioned using a 3rd party.  Such as 3Commas:  https://3commas.io/s?utm_expid=.2WnYy79yStqoakYyk_Avqg.1&utm_referrer=  It is a PAID service in which you use an API to connect to your exchange that does NOT offer a "Trailing Stop" feature.  YET, 3Commas DOES HAVE a "Trailing Stop" feature built into their platform to allow you to use a "Trailing Stop" on your exchange.  A Trailing Stop comes in very handy once you are in profit and you wish to stay in your trade and/or position longer for a chance to increase your gains WHILE protecting yourself from serious loss.

It's also a good idea to keep tabs on the price action by setting price alarms and indicator alarms on TradingView just in case that scenario were to occur.  This way you are allowing yourself preparation if such an event were to occur.

Like I said, the answer is not quite so cut and dry because of different scenarios.  However, what you are describing does not occur as often in the 12h TF and higher as it does in lower TF's; such as the 4h and lower.

We have battle between 9900-10500
If btc will break 9800 then we will retest 9k .9500k will not hold by my opinion
Look weekly chart Weekly macd is becoming bearish it looks similar to nov 2018 sell off
Worst is that so small liquidity.All that last hossa was driven by derivative trading mostly
Derivatives are creating bubbles the end is very painful
Bitcoin is not safe  heaven it most and tu risky blue chip asset
Around 8500 is global support if that will break down then we will see level 7k-7500 i guess
But btc love to rebound from bearish scenario and turn bears in to bulls
Generally i think ultimate bull run will begin November until that we will have that last accumulation phase