BTCUSD - New Video Publication; titled, "$6,180 Support Locally; Move up To $7,800 to $8,100 Next Week." https://www.tradingview.com/chart/BTCUSD/ZzKlOg7P-6-180-Support-Locally-Move-up-To-7-800-to-8-100-Next-Week/
Topic: Wyckoff Mode Technical Analysis - page 7. (Read 12115 times)
BTCUSD - New Video Publication; titled, "$6,180 Support Locally; Move up To $7,800 to $8,100 Next Week." https://www.tradingview.com/chart/BTCUSD/ZzKlOg7P-6-180-Support-Locally-Move-up-To-7-800-to-8-100-Next-Week/
Thanks for the update David. Do you think the bottom has been reached?
Hi JLO,
Apologies for the delay! It's hard to say just yet if the bottom is in. I'll provide another video publication update within the next 4 to 8 hours.
It's POSSIBLE for us to go out sideways within a relative tight trading range without going down significantly. I'm currently watching the 6h and 12h time frames. More on this later in the video publication update.
Here's the 3-Day TF: I put a yellow circle around the Green Line and White Energy in history to show how it's POSSIBLE for the Green Line and White Energy to turn back up.
"Pay Close Attention to White Energy in 24h & Red RSI in 2-Day TF." Be sure to checkout additional remarks with charts in the comments section. https://www.tradingview.com/chart/BTCUSD/rhjI5rsq-Pay-Close-Attention-to-White-Energy-in-24h-Red-RSI-in-2-Day-TF/
Thanks for the update David. Do you think the bottom has been reached?
"Pay Close Attention to White Energy in 24h & Red RSI in 2-Day TF." Be sure to checkout additional remarks with charts in the comments section. https://www.tradingview.com/chart/BTCUSD/rhjI5rsq-Pay-Close-Attention-to-White-Energy-in-24h-Red-RSI-in-2-Day-TF/
I should have posted this "IDEA" (Publication) here on bicointalk.org when I posted it 2 hours ago on TradingView. Everything I suspected has come to pass. I totally forgot to post it here and on Twitter.
"STUDY" to See if "CAUTION DOTS" Can Be of Use in Godmode 3.1" https://www.tradingview.com/chart/BTCUSD/LDYaIj53-STUDY-to-See-if-CAUTION-DOTS-Can-Be-of-Use-in-Godmode-3-1/
"STUDY" to See if "CAUTION DOTS" Can Be of Use in Godmode 3.1" https://www.tradingview.com/chart/BTCUSD/LDYaIj53-STUDY-to-See-if-CAUTION-DOTS-Can-Be-of-Use-in-Godmode-3-1/
A look at the Magenta Trend Line in the Weekly Time Frame:
"We Will See a PullBack Likely to a Higher Low." https://www.tradingview.com/chart/BTCUSD/6emDmURu-We-Will-See-a-PullBack-Likely-to-a-Higher-Low/
Great stuff, thank you for the update David. I have very similar thoughts myself. Even though this rally provides some optimism about the $3,850 bottom and a reversal to upward pressure, bullish reversals usually involve a deep initial pullback to carve out a first higher low that traps in bears.
My R1 and R2 are at $6,850 and $7,350 respectively. I would really love a chance to sell the $7,000s right now!
Totally agree! Sounds very logical to trap bears with a pullback before confirming reversal to SUSTAINED upward pressure!
Here's a NEW VIDEO PUBLICATION: BTCUSD - "Anticipate a Brief Pull-Back Before Potential Sustained Reversal." https://www.tradingview.com/chart/BTCUSD/tepeGXoa-Anticipate-a-Brief-Pull-Back-Before-Potential-Sustained-Reversal/
"We Will See a PullBack Likely to a Higher Low." https://www.tradingview.com/chart/BTCUSD/6emDmURu-We-Will-See-a-PullBack-Likely-to-a-Higher-Low/
Great stuff, thank you for the update David. I have very similar thoughts myself. Even though this rally provides some optimism about the $3,850 bottom and a reversal to upward pressure, bullish reversals usually involve a deep initial pullback to carve out a first higher low that traps in bears.
My R1 and R2 are at $6,850 and $7,350 respectively. I would really love a chance to sell the $7,000s right now!
"We Will See a PullBack Likely to a Higher Low." https://www.tradingview.com/chart/BTCUSD/6emDmURu-We-Will-See-a-PullBack-Likely-to-a-Higher-Low/
Weekly WITH Indicators:
Weekly without Indicators:
Weekly WITH Indicators:
Weekly without Indicators:
BTCUSD - "Part 1 - High TF's Show Continued Downward Pressure to 3/30/2020." https://www.tradingview.com/chart/BTCUSD/ioWcx9K2-Part-1-High-TF-s-Show-Continued-Downward-Pressure-to-3-30-2020/
BTCUSD - "Part 2 - We Need 12h & 24h Red RSI Above 56% Before We Have a Chance of Reversal Being Confirmed." https://www.tradingview.com/chart/BTCUSD/stNMACPi-Part-2-We-Need-12h-24h-Red-RSI-Above-56-Before-We-Have/
BTCUSD - "Part 2 - We Need 12h & 24h Red RSI Above 56% Before We Have a Chance of Reversal Being Confirmed." https://www.tradingview.com/chart/BTCUSD/stNMACPi-Part-2-We-Need-12h-24h-Red-RSI-Above-56-Before-We-Have/
We are still waiting for the Red RSI in the 3h, 6h and 12h time frames to come up to the 56 percent level before we can even attempt any kind of EXPONENTIAL move to the upside. We need the Red RSI in the 3h, 6h and 12h to all go above 56 percent before we can begin to see the Red RSI in the 24h, 2-Day, 3-Day, etc... begin to make a meaningful move towards the 56 percent level.
When the White Energy in the Daily runs up to pass ABOVE the 50% level in the Daily (24h) Time Frame is likely when we will also see the Green Line in the 2-Day TF turn up and the Red RSI in the 2-Day makes contact with the Green Line WHILE the Green Line is going up; indicating upward pressure in the 2-Day TF. This is also when we likely see the White Energy in the 4-Day turn up and make contact with the Red RSI WHILE the White Energy is going up; indicating a CHANCE for reversal to sustained upward pressure.
When the White Energy in the Daily runs up to pass ABOVE the 50% level in the Daily (24h) Time Frame is likely when we will also see the Green Line in the 2-Day TF turn up and the Red RSI in the 2-Day makes contact with the Green Line WHILE the Green Line is going up; indicating upward pressure in the 2-Day TF. This is also when we likely see the White Energy in the 4-Day turn up and make contact with the Red RSI WHILE the White Energy is going up; indicating a CHANCE for reversal to sustained upward pressure.
Posted 9 hours ago: "POSSIBLE We COULD Wick Down to $4,975.60 as Shown in Weekly." https://www.tradingview.com/chart/BTCUSD/Lr48z270-POSSIBLE-We-COULD-Wick-Down-to-4-975-60-as-Shown-in-Weekly/
Posted 9 hours ago: "Consider Scattering Buy Orders Between $6,149.32 & $4,975.60." https://www.tradingview.com/chart/BTCUSD/1xfl73gk-Consider-Scattering-Buy-Orders-Between-6-149-32-4-975-60/
Posted 9 hours ago: "Consider Scattering Buy Orders Between $6,149.32 & $4,975.60." https://www.tradingview.com/chart/BTCUSD/1xfl73gk-Consider-Scattering-Buy-Orders-Between-6-149-32-4-975-60/
BTCUSD - IMPORTANT - "EDUCATION" ON THE 44 PERCENT (%) RULE! https://www.tradingview.com/chart/BTCUSD/YprA7H1Y-BTCUSD-IMPORTANT-EDUCATION-ON-THE-44-PERCENT-RULE/
We WERE waiting for the White Energy in the 6h TF to make it to the 50% level. THEN I had you wait for the White Energy in the 8h TF. THEN I had you sit and wait for the White Energy in the 12h TF to hit 50%.
If the Red RSI in the Daily (24h) "CLOSES" at or "BELOW" 44%, we will then move from the White Energy in the 12h to the White Energy in the Daily (24h) TF crossing above 50% before getting in. I'm simply trying to avoid getting in too early and potentially getting burned.
If the Red RSI in the Daily (24h) "CLOSES" at or "BELOW" 44%, we will then move from the White Energy in the 12h to the White Energy in the Daily (24h) TF crossing above 50% before getting in. I'm simply trying to avoid getting in too early and potentially getting burned.
We have moved from the 6h... to the 8h... and now to the 12h time frame in regard to which time frame we will use for reversal to potential sustained upward pressure. So, set your alarm in the 12h TF for "crossing up" above 20% level. Once that is triggered, we will have a look at the Red RSI in the 18h and 24h time frames to determine if we need to wait for the White Energy to cross above 50% in either of those before entry. What are we looking for in each time frame? We are looking to see if the Red RSI has crossed BELOW the 44% level and CLOSED below the 44% level. If so, we wait for the White Energy to cross ABOVE 50% before entry in that particular time frame. However, that signal may get passed along to a higher time frame "IF" the Red RSI in that higher time frame CLOSES below 44%.
Here is a comment made by a follower of mine on TradingView:
It is somehow doubtful that 7 694 is the bottom. Especially with such an incredibly attractive CME gap. It seems to me that if the price was going to go up after closing the CME gap at 7675, then it would make it one quick candle.
Why, in such a scenario, give so much time to the crowd to enter Long? So many hours the price walks 7800-900
Absolutely not surprised to see a picture where the price will soon go to 7400 at least. To knock out the stop of those who are now entering Long. Since most who are now entering, the stop is approximately there. And these stops need to be knocked out, why make such a gift at the close of CME?
This is not a significant drop for those who come in with a large deposit and a small leverage, but still.
This is by no means a trading advice.
His comment has me curious if that POTENTIAL move occurs before or after the white energy in the 6 hour time frame crosses ABOVE the 50 percent level.
It is somehow doubtful that 7 694 is the bottom. Especially with such an incredibly attractive CME gap. It seems to me that if the price was going to go up after closing the CME gap at 7675, then it would make it one quick candle.
Why, in such a scenario, give so much time to the crowd to enter Long? So many hours the price walks 7800-900
Absolutely not surprised to see a picture where the price will soon go to 7400 at least. To knock out the stop of those who are now entering Long. Since most who are now entering, the stop is approximately there. And these stops need to be knocked out, why make such a gift at the close of CME?
This is not a significant drop for those who come in with a large deposit and a small leverage, but still.
This is by no means a trading advice.
His comment has me curious if that POTENTIAL move occurs before or after the white energy in the 6 hour time frame crosses ABOVE the 50 percent level.
That's a beautiful sight looking at the last two cycles. Fingers crossed that past performance indicates future returns.
This short bearish momentum is strong. The daily chart is showing three black crows, although the market still has 12 hours before today's candle prints. Stock index futures are also digging out new lows. All this fear in the markets is leaving me on the edge of my seat.
How confident are you that this March 9-10 reversal will trigger sustained upward pressure?
Hi Exstasie,
Agreed... Lets hop past performance indicates future returns in that Weekly TF.
Yes, all this FEAR in the markets is leaving me on the edge of my seat as well. This corona virus has severely harmed the supply chains around the world. Public Corporations will dread reporting their 1st Quarter results. I can only imagine how bad 2nd Quarter results will be.
I personally believe Bitcoin is being manipulated more so by Large Interest who control the Bitcoin CME Futures rather than Bitcoin being affected by fear of the Corona Virus.
I'm not super confident we will have reversal to SUSTAINED upward pressure until we see what occurs with the indicators in time frames other than the 6 hour time frame. Which is why I also made the following points recently in comments section of that publication:
In situations such as this, one is pretty much forced to make an entry WITH A STOP LOSS and rely on your stop loss to keep potential losses small and gains large. Which means you have to be willing to take risk. However, you are MANAGING your risk with a STOP LOSS.
If the White Energy in the 6h time frame only goes up slightly above the 50% level and ultimately ends up coming back down again to trigger your stop loss, you simply take a MANAGED risk once again with a stop loss on the next time the opportunity presents itself in the indicators to implement a trade with MANAGED risk once again.
When looking at the 8 hour time frame, there is a CHANCE of it coming down again.
So, if you are willing to take a MANAGED risk with a stop loss, wait for the White Energy to cross above the 50% level in the 6h time frame. IF you wait for the White Energy in the 6h to CLOSE above 50%, it's possible the price may have ran up so much that you missed out on a better opportunity to get in at a lower price. I'm usually fine with taking a MANAGED risk once the White Energy crosses above the 50% level without waiting for it to CLOSE above the 50% level in this particular SITUATION. However, I generally have my stop loss VERY TIGHT in this circumstance when trying to get in at or near the bottom.
If you can't stay glued to your computer, iPad or phone and want a notification of WHEN the White Energy crosses above the 50 percent level in the 6h time frame, you can set an alarm for the White Energy in the 6 hour time frame. MAKE SURE you are in the 6 hour time frame when setting it up. If you don't know HOW to set it up, then watch the following video: https://www.tradingview.com/chart/ETHUSDT/HrDoFY58-How-to-Set-Alarms-for-Your-Indicators/
That's a beautiful sight looking at the last two cycles. Fingers crossed that past performance indicates future returns.
This short bearish momentum is strong. The daily chart is showing three black crows, although the market still has 12 hours before today's candle prints. Stock index futures are also digging out new lows. All this fear in the markets is leaving me on the edge of my seat.
How confident are you that this March 9-10 reversal will trigger sustained upward pressure?
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