I'm about to get some much needed sleep. I wanted to show everyone what I'm seeing in the Daily, 18h, 12h and 6h time frames and my argument for a stair step down scenario being likely. Hence, the reason for labeling this a short for the near term. HOWEVER, do realize the 6h time frame shows a chance of coming up shortly. Which means if you are thinking about a margin short position, you may want to wait a bit before taking it.
Happy Trading Everyone and Stay Awesome!
David
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I'm getting some much needed sleep!
Stay Awesome!
; )
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A CRYPTO VERSION of the Market Psychology Cheat Sheet:
History of Bitcoin Using Wyckoff Method:
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Added a few more things to the Crypto Market Psychology Cheat Sheet:
Bitcoin has finished ABC correction and will go up after weekend! This idea below explains why:
WyckoffMode
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@WilliamLockhart,
Thanks for adding to the discussion, William.
Let's see.... Time will tell... ; )
Stay Awesome!
sandog
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@WilliamLockhart, Some EW guys have your C there as a 4. I like it as a C because it would mean a big impulsive move would be a new 1. Which would make sense.
Just as your publications are very good as always!
Stay Awesome!
sandog
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I know this isn't a TA statement but when I bought as much as I could afford at $200 I had calculated the cost of production. There was a last minute, last chance stupid dump. Even miners will buy it back when its under their cost of product because they are selling it when its above (profitable). The profitability is dropping as more miners start up - hash rate is one of the metrics. It shows a fundamental business community valuation if they turn on miners and stay mining even when price looks bearish. So it is with 9k at the moment. I have buys under there but sub 8500 seems right off the cards - bigger investors have hidden buys ranging in that region and the market movers know its a bit pointless trying to scoop liquidity there if they are fighting the funds.