BCHUSDT Appears to be Gearing Up for a November 1st Bull Run.
When looking at the Blue LSMA and Red Relative Strength Index within Godmode 3.1 Mod indicator, it appears BCHUSDT may be gearing up for a bull run to begin on or around November 1st like many other crypto currency pairs I've posted in previous publications.
I've drawn lines to point out the "possible" future trek of the Blue LSMA and Red Relative Strength Index within Godmode 3.1 Mod indicator AND lines for the Phoenix ARI indicator.
Here is an image of a Wyckoff Distribution Schematic #1: i.imgur.com/nVvme5Z.png
Here is an image of the 2-Day chart I previously posted with image of Wyckoff Distribution Schematic #1 in lower righthand corner: i.imgur.com/3TJCXft.png
Do "NOT" assume the price action must play out exactly the way you see in the EXAMPLE of a Wyckoff Distribution Schematic #1 in lower righthand corner provided in the following link. This link is also an excellent source for an INTRODUCTION to Wyckoff Method of Analysis: stockcharts.com...school/doku.php?id=chart_s...
If you want another source for FREE e-books on Wyckoff Method, search "Richard Wyckoff" or scroll down to "Richard Wyckoff" at the following link: www.traders-software.com/Trading Books/ The previous link is an EXCELLENT SOURCE for "F R E E" e-books on trading.
When you look at that image of Wyckoff Distribution Schematic #1, keep in mind we are working on the Up Thrust (UT) in "PHASE B." We are NOT anywhere near Phase C, D or E.
Also, do NOT assume we must have a deep fall in Phase E in 2019. In fact, Phase E can be rejected all together and we transition into Re-Accumulation Phase A rather than Distribution Phase E. We'll discuss more on that in 2019 as Phase D of this Distribution Schematic approaches. i.imgur.com/P6GNiEo.png
All of my charts are strictly "opinion" and not to be taken as me advising you what to do with your money. I'm simply providing my opinion for you to compare with the opinions of others providing analysis to possibly help you make the best possible decision how you may or may not invest your capital in crypto currencies.
Please take a moment to click "Like" symbol if this publication has been helpful.
Thank you! ; )
I've drawn lines to point out the "possible" future trek of the Blue LSMA and Red Relative Strength Index within Godmode 3.1 Mod indicator AND lines for the Phoenix ARI indicator.
Here is an image of a Wyckoff Distribution Schematic #1: i.imgur.com/nVvme5Z.png
Here is an image of the 2-Day chart I previously posted with image of Wyckoff Distribution Schematic #1 in lower righthand corner: i.imgur.com/3TJCXft.png
Do "NOT" assume the price action must play out exactly the way you see in the EXAMPLE of a Wyckoff Distribution Schematic #1 in lower righthand corner provided in the following link. This link is also an excellent source for an INTRODUCTION to Wyckoff Method of Analysis: stockcharts.com...school/doku.php?id=chart_s...
If you want another source for FREE e-books on Wyckoff Method, search "Richard Wyckoff" or scroll down to "Richard Wyckoff" at the following link: www.traders-software.com/Trading Books/ The previous link is an EXCELLENT SOURCE for "F R E E" e-books on trading.
When you look at that image of Wyckoff Distribution Schematic #1, keep in mind we are working on the Up Thrust (UT) in "PHASE B." We are NOT anywhere near Phase C, D or E.
Also, do NOT assume we must have a deep fall in Phase E in 2019. In fact, Phase E can be rejected all together and we transition into Re-Accumulation Phase A rather than Distribution Phase E. We'll discuss more on that in 2019 as Phase D of this Distribution Schematic approaches. i.imgur.com/P6GNiEo.png
All of my charts are strictly "opinion" and not to be taken as me advising you what to do with your money. I'm simply providing my opinion for you to compare with the opinions of others providing analysis to possibly help you make the best possible decision how you may or may not invest your capital in crypto currencies.
Please take a moment to click "Like" symbol if this publication has been helpful.
Thank you! ; )
Comment:
Current progress of the Blue LSMA on the Daily (1440m) TF still looks likely for a reversal to the upside on or around November 1st.
Comment:
Update from 21 hours ago on the Daily TF. We appear to be on schedule for the Bull Run beginning on or around November 1st.
Comment:
When looking at the 2-Day TF, it's possible we may not see reversal until some time around November 7th. They are certainly taking their sweet time accumulating Over The Counter (OTC) before taking this up for us. Especially Bitcoin...
Comment:
2-Day TF UPDATE:
Comment:
360m (6h) TF:
480m (8h) TF:
480m (8h) TF:
Comment:
12h (720m) TF: Potential for reversal to upside pressure still in play on or around November 12.
Comment:
4-Day TF:
Daily (24h) TF:
I've looked in the 12h, 6h and 3h time frames and do not see a clear signal yet for upward pressure. We may remain sideways in a tight trading range a bit longer in the lower time frames like the 1h to 4h range.
Daily (24h) TF:
I've looked in the 12h, 6h and 3h time frames and do not see a clear signal yet for upward pressure. We may remain sideways in a tight trading range a bit longer in the lower time frames like the 1h to 4h range.
Comment:
The current state of BCHUSDT was OBVIOUSLY affected TREMENDOUSLY by the FORK. This was a PRIME example of how TECHNICAL ANALYSIS (TA) is not ALWAYS correct. One must also take FUNDAMENTAL ANALYSIS (FA).
I HAD NO IDEA how the fork would affect BCH. NO IDEA WHATSOEVER... Does this mean TECHNICAL ANALYSIS (TA) is useless? HELL NO!!!
So, those who choose to send me disrespect PM's about my analysis or say Godmode, Stochastic RSI merged with Phoenix ARI and Phoenix DG1 TSI IS useless, go right ahead. I could HONESTLY care less. Those of you who do send me a disrespectful personal message WILL BE IGNORED. PERIOD...
I personally did not get involved with BCH "MAINLY" because of the fork (FUNDAMENTAL ANALYSIS) because I had NO IDEA how the fork would affect the price. Did this stop me from sharing what I was seeing in the indicators for TECHNICAL ANALYSIS? No... Has what occurred with BCH "fundamentally" changed my attitude and/or perspective towards "technical" analysis? No!!! Technical Analysis is still the best way to determine price movement in markets AS LONG AS the market one is performing technical analysis for is FUNDAMENTALLY sound. Which BCH apparently was not.
I appreciate those of you who continue to follow my "ideas" (opinion). Much respect!!! Yes, I made errors on previous analysis for several alt-coin pairs. Partly because of not paying attention to the high time frames shortly after posting the publications for those alt-coin pairs. Partly for being too busy with my office remodel and mining room demolition to regain it as a storage room and/or future larger office.
I learned a LOT from this previous market turn. I'm sure all of us have. What's important is to LEARN FROM MISTAKES to ensure those mistakes do not occur again.
I HAD NO IDEA how the fork would affect BCH. NO IDEA WHATSOEVER... Does this mean TECHNICAL ANALYSIS (TA) is useless? HELL NO!!!
So, those who choose to send me disrespect PM's about my analysis or say Godmode, Stochastic RSI merged with Phoenix ARI and Phoenix DG1 TSI IS useless, go right ahead. I could HONESTLY care less. Those of you who do send me a disrespectful personal message WILL BE IGNORED. PERIOD...
I personally did not get involved with BCH "MAINLY" because of the fork (FUNDAMENTAL ANALYSIS) because I had NO IDEA how the fork would affect the price. Did this stop me from sharing what I was seeing in the indicators for TECHNICAL ANALYSIS? No... Has what occurred with BCH "fundamentally" changed my attitude and/or perspective towards "technical" analysis? No!!! Technical Analysis is still the best way to determine price movement in markets AS LONG AS the market one is performing technical analysis for is FUNDAMENTALLY sound. Which BCH apparently was not.
I appreciate those of you who continue to follow my "ideas" (opinion). Much respect!!! Yes, I made errors on previous analysis for several alt-coin pairs. Partly because of not paying attention to the high time frames shortly after posting the publications for those alt-coin pairs. Partly for being too busy with my office remodel and mining room demolition to regain it as a storage room and/or future larger office.
I learned a LOT from this previous market turn. I'm sure all of us have. What's important is to LEARN FROM MISTAKES to ensure those mistakes do not occur again.
Comment:
What NEGATIVE thing to consider on FORKS is a Stop Loss cannot protect one from what occurs in a fork. Meaning, if you have taken your coin off exchange to put in a wallet in preparation for a fork, you do NOT have a STOP LOSS in play to protect you from potential losses if a position based on a TECHNICAL ANALYSIS does not play out.
A fork has NOTHING to do with TECHNICAL analysis and EVERYTHING to do with FUNDAMENTAL analysis. So, those who chose to hold a position of BCH remaining FUNDAMENTALLY sound in the hopes of doubling up your coins to increase your FIAT capital were doing so on the basis of "HOPING" BCH/BCC would remain fundamentally sound. Your decision to hold that position was NOT my decision, it was yours. I simply posted a publication for BCHUSDT on the basis it would remain FUNDAMENTALLY sound. I was not willing to gamble on its fundamentals by taking a position either way or the other. I simply stayed away from it.
I sincerely hope those who may have been wrecked by taking a position on the BCH fork are able to recoup their loss in time and also learn from this fork. I also hope those who were wrecked do not allow themselves to be biased toward technical analysis.
It's still my opinion that Technical Analysis is the best way to increase capital and avoid substantial losses as long as one has a plan for each trade based on their technical analysis while implementing proper protections (stop loss and/or trailing stop) to avoid substantial loss and/or lock in gains in the event one's analysis does not play out as anticipated when drawing a conclusion from technical analysis.
NO ONE is correct 100% of the time with their technical analysis. NO ONE... Which is WHY stop loss and/or trailing stop is SO IMPORTANT to keep losses small and gains large.
A fork has NOTHING to do with TECHNICAL analysis and EVERYTHING to do with FUNDAMENTAL analysis. So, those who chose to hold a position of BCH remaining FUNDAMENTALLY sound in the hopes of doubling up your coins to increase your FIAT capital were doing so on the basis of "HOPING" BCH/BCC would remain fundamentally sound. Your decision to hold that position was NOT my decision, it was yours. I simply posted a publication for BCHUSDT on the basis it would remain FUNDAMENTALLY sound. I was not willing to gamble on its fundamentals by taking a position either way or the other. I simply stayed away from it.
I sincerely hope those who may have been wrecked by taking a position on the BCH fork are able to recoup their loss in time and also learn from this fork. I also hope those who were wrecked do not allow themselves to be biased toward technical analysis.
It's still my opinion that Technical Analysis is the best way to increase capital and avoid substantial losses as long as one has a plan for each trade based on their technical analysis while implementing proper protections (stop loss and/or trailing stop) to avoid substantial loss and/or lock in gains in the event one's analysis does not play out as anticipated when drawing a conclusion from technical analysis.
NO ONE is correct 100% of the time with their technical analysis. NO ONE... Which is WHY stop loss and/or trailing stop is SO IMPORTANT to keep losses small and gains large.
Have a look at the 2-Day TF: