Three Scenarios on the Way to December, 2020...
As I have mentioned in a previous publication on April 22, 2020, "$10.5k Minimum but LIKELY $14,611 by First Week of June, 2020." This publication is simply a reminder of those two scenarios. Another possible scenario takes us to $12k by first week of June, 2020. BOTTOM LINE: We will let the indicators dictate when the top is likely reached by end of May or first week of June.
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This chart allows you to see where the upper White Line originates from:
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I'm about to get a bite to eat with my family. Just wanted to point out the first major milestone to overcome will be $9,555 on BitStamp. We will overcome it. Just pointing out it has the potential to offer a LOT of resistance.
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The $9,555 price point is made visible with trend lines to point out the POSSIBLE price point of a brief pullback before resuming upward price movement.
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28 x 3-Day Candle previous run up verses potentially 26 x 3-Day Candles this current run up. Let's see if she can do it... ; )
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In case you are wondering what that looked like in the Daily (24h) on May 16 - 17, 2019...
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Here is what it looked like in the 2-Day on May 16 - 17, 2019. Be advised I simply moved the Orange Text Bubble over to the left from present day.
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The reason I'm bringing this up is because a LOT of people likely went margin long at $8k or just above $8k. If the market makers (exchanges) want to try to liquidate some of those margin longs, they can do so by scaring the hell out of them with a quick dip out of nowhere before taking it back up. Just because I mentioned this does not mean it will happen. I'm simply pointing out the POSSIBILITY. They play DIRTY in crypto...
So, if you are already in profits on a margin trade, you may wish to consider a TRAILING STOP setup to keep you in profit if you were to get stopped out. Also have alarms in place to alert you to open a margin long at a lower price if such a move were to occur.
So, if you are already in profits on a margin trade, you may wish to consider a TRAILING STOP setup to keep you in profit if you were to get stopped out. Also have alarms in place to alert you to open a margin long at a lower price if such a move were to occur.
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A may provide a video publication in the wee hours of the morning Central Time. It's currently 10:42pm Central Time for me.
A look at the Weekly "without" indicators:
A look at the Weekly "with" indicators:
A look at the Weekly "without" indicators:
A look at the Weekly "with" indicators:
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A look at the Monthly Time Frame:
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I wanted to post the Monthly because we have a NEW Monthly Candle beginning in less than 24 hours.
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Reminding you: Scenario #2 is certainly possible here. Which means $7,9xx possible before upward pressure resumes:
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If they were to pull a similar trick to what they did May 16 and 17, 2019, then $7,233 would be the bottom. I'm leaning more towards $7,960 or higher as the bottom before upward pressure resumes.
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BB:Basis in this 6h may be our support... We'll find out soon enough...
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We will find out soon if the BB:Basis in the 6h or the 200-EMA in the Daily act as support if we continue coming down.
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Actually, the way we have bounced off the BB:Basis in the 2h many times in the past makes one wonder if the bottom may already be in. One thing for certain... It would be a TERRIBLE MISTAKE to assume this current run up was it and we are in the process of falling back down in the form of a dump.
Here's the 2h:
Here's the 2h:
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Hi Everyone, I normally like for a minimum of 24 hours to pass after a major number NEW high time frame candles are formed within the indicators to see how the price action may or may not react to what's revealed in the indicators within the new high time frame candles.
We still have a sign of upward pressure dominating in the 3-Day, 4-Day, 5-Day, 6-Day and soon the indicators in the Weekly Time Frame may begin to confirm a chance of continued upward pressure for weeks to come. This will be covered in a video publication likely later this evening. It's currently 3:50pm Central Time in the U.S. (my time).
I will leave you with a multi-chart including the 3h, 6h, 12h and 24h: Note the Bollinger Band Basis (BB:Basis) and Bollinger Band Lower (BB:Lower) with their current respective price levels in each time frame. Also note the White Dotted 200-EMA in each time frame with its respective price point in the price value column to the right of each chart in this multi-chart window. I'm of the opinion the 200-EMA in the 24h TF may likely be our border of strong support. However, the White Dotted 200-EMA in the 12h TF appears to be a more likely level of strong support due to the price action previously going sideways at that price level in recent history.
Is there a chance of a big dip down to the BB:Lower of either of the time frames shown in a similar fashion to the way we had a sudden drop on May 16 & 17, 2019? Sure, it's POSSIBLE. Yet, one must realize, we have a signal of strong upward pressure in the higher time frames in a very similar way we had signal of strong upward pressure in the higher time frames during the sudden drop on May 16 & 17, 2019. It is BECAUSE of that strong upward pressure shown in the higher time frames that we also had a SUDDEN/QUICK RECOVERY in the price action back up to previous price levels to reflect what was signaled within the indicators in the higher time frames during May of 2019. So, if we were to see a sudden drop occur in the near term, I believe we would also see a sudden/quick recovery back to current price levels.
Must we have a sudden drop? NO... Is there any way of knowing in advance a sudden drop is about to occur here? NO... All we know currently is we are still experiencing downward pressure for the near term while upward pressure still dominates for the mid to long term time frames.
Here's the 3h, 6h, 12h & 24h Time Frames in one multi-chart window:
We still have a sign of upward pressure dominating in the 3-Day, 4-Day, 5-Day, 6-Day and soon the indicators in the Weekly Time Frame may begin to confirm a chance of continued upward pressure for weeks to come. This will be covered in a video publication likely later this evening. It's currently 3:50pm Central Time in the U.S. (my time).
I will leave you with a multi-chart including the 3h, 6h, 12h and 24h: Note the Bollinger Band Basis (BB:Basis) and Bollinger Band Lower (BB:Lower) with their current respective price levels in each time frame. Also note the White Dotted 200-EMA in each time frame with its respective price point in the price value column to the right of each chart in this multi-chart window. I'm of the opinion the 200-EMA in the 24h TF may likely be our border of strong support. However, the White Dotted 200-EMA in the 12h TF appears to be a more likely level of strong support due to the price action previously going sideways at that price level in recent history.
Is there a chance of a big dip down to the BB:Lower of either of the time frames shown in a similar fashion to the way we had a sudden drop on May 16 & 17, 2019? Sure, it's POSSIBLE. Yet, one must realize, we have a signal of strong upward pressure in the higher time frames in a very similar way we had signal of strong upward pressure in the higher time frames during the sudden drop on May 16 & 17, 2019. It is BECAUSE of that strong upward pressure shown in the higher time frames that we also had a SUDDEN/QUICK RECOVERY in the price action back up to previous price levels to reflect what was signaled within the indicators in the higher time frames during May of 2019. So, if we were to see a sudden drop occur in the near term, I believe we would also see a sudden/quick recovery back to current price levels.
Must we have a sudden drop? NO... Is there any way of knowing in advance a sudden drop is about to occur here? NO... All we know currently is we are still experiencing downward pressure for the near term while upward pressure still dominates for the mid to long term time frames.
Here's the 3h, 6h, 12h & 24h Time Frames in one multi-chart window:
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A look at Moving Averages Exponential in the 24h Time Frame:
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