Wyckoff Mode Technical Analysis - page 31.

dmwardjr

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NEW Video Publication titled, "Sideways at Worst to $10,500 by This Weekend." https://www.tradingview.com/chart/BTCUSD/QxxJ5ImH-Sideways-at-Worst-to-10-500-next-7-to-10-Days/

We have our reversal to upward pressure on or around July 30th as anticipated. However, I'm not expecting a "significant" upward move here. Mainly, due to the huge difference we see with the BitFinex Short and Long contracts. Short contracts currently at 6,600 and Long contracts currently at 22,375. Which see...

The higher time frames (Weekly, 9-Day and 12-Day seem to indicate a reversal to upward pressure is near. However, I'm anticipating that upward pressure to be for only a brief amount of time before continuing with downward pressure to eventually find support on the 20-EMA in the Weekly Time Frame (TF).

Ignore those two scenarios I drew in the publication for two possible scenarios. It's still possible for us to go to a higher high than $13,880 on Bitstamp . But due to the huge difference in the long and short contracts on Bitfinex, one can't help but conclude we're not going to higher highs and the current move up may only be for a brief amount of time.

dmwardjr

legendary

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Technical Analyst/Trader

If you work hard on your job, you can make a living.

If you work hard on yourself, you can make a fortune.

Let's work harder on ourselves than we do on our job.

Stay Awesome!

dmwardjr

legendary

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Still anticipate the price action and the Orange 60-MA in the 2-Day TF to meet around $8,386.86. This may not occur until the first week of August.

dmwardjr

legendary

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Quote from: exstasie on July 24, 2019, 04:32:54 PM

Great stuff, David. Your last video was spot on. It helped me keep the faith after that bull trap to $11K when I started second guessing my bearish analysis.

I've been patiently waiting for an eventual retest of the July 17th low. Even if we don't get there, I'll still be buying back my spot coins much lower than I sold them. It looks to me like the market still needs to squeeze out some longs so I'm hopeful my bids in the $8,000s will get filled.

Thanks again for sharing. I'm looking forward to your updates as we approach the expected reversal end of July or early August!

Hi Exstasie,

Thanks! Happy the TA helped.

Thanks for dropping by and Stay Awesome!

Update using the 3-Day TF: Appears as though the downward pressure continues possibly through the weekend until Saturday or Sunday. We may know more once we a NEW 3-Day Candle begins tomorrow (July 27, 2019). The indicators will update on the creation of that NEW 3-Day Candle and may give us a better indication of approximately WHEN we will see a reversal to upward pressure.

exstasie

legendary

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Great stuff, David. Your last video was spot on. It helped me keep the faith after that bull trap to $11K when I started second guessing my bearish analysis.

I've been patiently waiting for an eventual retest of the July 17th low. Even if we don't get there, I'll still be buying back my spot coins much lower than I sold them. It looks to me like the market still needs to squeeze out some longs so I'm hopeful my bids in the $8,000s will get filled.

Thanks again for sharing. I'm looking forward to your updates as we approach the expected reversal end of July or early August!

dmwardjr

legendary

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Technical Analyst/Trader

On July 22, 2019 I made the following post that included a link to a VIDEO publication:

Quote from: dmwardjr on July 22, 2019, 08:06:44 AM

Weekly Outlook: Downward Pressure Until on or Around July 30th. https://www.tradingview.com/chart/BTCUSD/zp1l2pD7-Weekly-Outlook-Downward-Pressure-Until-on-or-Around-July-30th/

Just because we have downward pressure for most of this NEW week does not necessarily mean the price action must come down significantly. As I've said before, this could act more like a TIME correction for now instead of a significant PRICE correction. If we do not see a PRICE correction this week, it may not occur until AFTER we continue with UPWARD pressure in August then find our bottom in the month of September before FINALLY going up the months of October, November and December to test the All Time HIgh (ATH) of $19,666 on BitStamp.

Hopefully, this TA has been helpful to those who have taken the time to view it. If you will, take a moment of your time to click "Like." Would certainly appreciate it.

Happy Trading and Stay Awesome!

David

The video (above) was posted on July 22, 2019. Today is July 24, 2019. I mentioned toward the end of the video what I was anticipating for the indicator lines in the 2-DAY Time Frame. You will see what I anticipated with the indicator lines has come to pass.

dmwardjr

legendary

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Update using the Daily (24h) TF:

dmwardjr

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BitFinex "Long" Contracts just have not come down enough just yet. We still anticipate more downward pressure in the indicators to spook those in "Long" contracts to close and/or liquidate those contracts WHILE lulling in margin "Short" contracts just before reversal to upward pressure around the last couple of days of July or first couple days of August.

2-Day TF: Bitfinex BTCUSD (Top); Bitfinex BTCUSD Short Contracts (Middle); Bitfinex BTCUSD Long Contracts (Bottom):

dmwardjr

legendary

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dmwardjr

legendary

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I placed a GANN on top of my chart and placed possible price predictions with two scenarios. However, I used it a bit UN-orthodox in regards to the coordinates of the GANN in this particular presentation. What's IMPORTANT to remember is to keep an eye on the indicators in regard to the current DOWNWARD pressure we are experiencing. Which means these price projections could change if the price action goes beyond the predictions on the GANN while the downward pressure continues this week.

dmwardjr

legendary

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One of the Two Following Scenarios Likely: https://www.tradingview.com/chart/BTCUSD/mSOMUpyS-One-of-the-Two-Following-Scenarios-Likely/
The Magenta Scenario has the price action acting more as a TIME correction; while the Black Scenario has the price action acting more like a PRICE correction. I still believe most; if not all the month of September will be bearish before we evolve into a bull trend to last most all of Quarter 4, 2019 to test; if not surpass the All Time High (ATH) of $19,666. However, I do anticipate a pull back shortly after testing the ATH.

dmwardjr

legendary

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Quote from: figmentofmyass on July 22, 2019, 04:29:37 AM

that $8300-8500 area looks like a real sweet spot.

one question: you mentioned you expect downward pressure until mid-september. so if we establish a low in the next couple weeks in the $8000s, what do you expect to happen for the next ~6 weeks after that?

thanks again for the updates!

Hi FOMA,

Hopefully, this video publication answers your question...

Weekly Outlook: Downward Pressure Until on or Around July 30th. https://www.tradingview.com/chart/BTCUSD/zp1l2pD7-Weekly-Outlook-Downward-Pressure-Until-on-or-Around-July-30th/

Just because we have downward pressure for most of this NEW week does not necessarily mean the price action must come down significantly. As I've said before, this could act more like a TIME correction for now instead of a significant PRICE correction. If we do not see a PRICE correction this week, it may not occur until AFTER we continue with UPWARD pressure in August then find our bottom in the month of September before FINALLY going up the months of October, November and December to test the All Time HIgh (ATH) of $19,666 on BitStamp.

Hopefully, this TA has been helpful to those who have taken the time to view it. If you will, take a moment of your time to click "Like." Would certainly appreciate it.

Happy Trading and Stay Awesome!

David

figmentofmyass

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that $8300-8500 area looks like a real sweet spot.

one question: you mentioned you expect downward pressure until mid-september. so if we establish a low in the next couple weeks in the $8000s, what do you expect to happen for the next ~6 weeks after that?

thanks again for the updates!

dmwardjr

legendary

Activity: 1302

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Technical Analyst/Trader

A simple update with the Daily (24h) TF: It's still "on" for the price to drop [In my opinion] to a price point somewhere "in the future" between the 100-MA and 120-MA in the Daily (24h) TF. The 100-MA and 120-MA "should" continue rising even as the price is dropping. I'm anticipating the price drop to meet somewhere between those two moving averages in the Daily (24h) TF inside the light green box placed here on the chart.

A look at an update in the indicators for the 2-Day TF:

dmwardjr

legendary

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Here's the Daily (24h) TF after approximately 21 hours of price movement since the last time I posted the Daily:

dmwardjr

legendary

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A further look at Godmode indicator and Phoenix Ari indicator in this 2-Day TF:

dmwardjr

legendary

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Technical Analyst/Trader

Quote from: Wind_FURY on July 19, 2019, 12:48:57 AM

Nice office/man-cave. I see that Bitcoin has treated you well, and that you are treating yourself well in return.

Thanks on the office/man-cave. I can't complain.

Quote from: Wind_FURY on July 19, 2019, 12:48:57 AM

But about the market, I believe this has stopped,

You may want to watch this video publication FIRST. The comments you see below are induced in the comments section of this video publication link: https://www.tradingview.com/chart/BTCUSD/8MWwADJH-Bitcoin-Weekly-Brainstorm-Refer-to-Comments-Section-as-Well/

$8,350 will be LIKELY support on this current stint of downward pressure. I personally believe the downward pressure is not quite complete yet. Yes, we are currently experiencing upward pressure but I believe it will be short-lived and we resume with downward pressure to find bottom around $8,350 the last week of July or first week of August with the 60-MA acting as support in the 2-Day TF or the 120-MA acting as support in the Daily (24h) TF.

If you haven't noticed, the short contracts on BitFinex (6,160 contracts) are MUCH LOWER than the long contracts on BitFinex (22,500 contracts). This is another reason I believe this downward pressure will likely continue till the last week of July or first week of August.

2-Day TF:

Daily TF:

Wind_FURY

legendary

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Nice office/man-cave. I see that Bitcoin has treated you well, and that you are treating yourself well in return.

But about the market, I believe this has stopped,

dmwardjr

legendary

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Technical Analyst/Trader

3h TF:

dmwardjr

legendary

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Technical Analyst/Trader

Quote from: bucciarati on July 17, 2019, 07:45:10 AM

thx for your insights ;-)
i can see this blue buy zone quite large though

Agreed... Our buy zone for the absolute bottom can range between my two 0.618 FIB's between $8,386.86 and $7,355.27 by September. It's going to take its sweet time about getting down there in my opinion. We may even see a "double bottom" or "W" formation before we turn back up in early to mid September.

I circled those two FIB's with purple circles on this Daily chart:

Topic: Wyckoff Mode Technical Analysis - page 31. (Read 12119 times)