WyckoffMode

BTCUSD: Upward Pressure Still Dominates Higher Time Frames.

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! We simply have too much upward pressure still present for me to believe we are done going up for the remainder of this year. My "estimation" of WHEN our upward pressure may come to a close and we reverse to downward pressure is for the Weekly Candle beginning December 7, 2020. This "estimate" COULD change the end of next week. Let's see where our White Energy is by the end of NEXT week before I consider changing my estimate of WHEN upward pressure might revert to downward pressure in the Weekly. I'm labeling this a LONG position for the Mid Term to my estimated December 7, 2020 "TIME" Target. Do NOT use this "Mid Term" TA to decide if you should open a long position from here. You need to monitor lower time frames to see WHEN you may want to consider opening a long position. Here's a screenshot of the cover chart...

Comment: UPDATE:

Yes, it's POSSIBLE to run up near $30,000. However, if we do run up that high, it may take a bit longer. Maybe the weekly Candle beginning January 4, 2021. We will have to wait and see what angle of decent the White Energy gradually falls in the Weekly and see what the indicators are showing in the 9-Day and 12-Day.

Comment: UPDATE:

I cannot emphasize enough... My December 7, 2020 Weekly Candle estimate is only an "ESTIMATE" of what Weekly candle we may see a reversal to downward pressure. We may determine (along the way) we are going to see exhaustion on the Weekly Candle beginning November 30, 2020. We will know more as that "time" approaches.
Comment: UPDATE:

I'm about to eat... I'll provide a VIDEO update for BTCUSD after I eat and watch a little news.
Comment: UPDATE:

Be sure to look at charts IN THE DESCRIPTION covering LOWER time frames in the link to a video publication below.

"BTCUSD: Expecting 1.0 FIB ($14.4K - $14.6K) to Maintain Support."
ALL UPDATES ON YOUTUBE IF I'M BANNED ON TRADINGVIEW...

HERE IS MY YOUTUBE CHANNEL: https://www.youtube.com/channel/UC8IbhpQwrTD6BozJPWnyAHA

UPDATE ON MY DAD: https://www.youtube.com/watch?v=6UUm4ObJT8E

Comments

+1 Reply
apberg3 Fox666
@Fox666, I wish
Reply
Thanks for another great analysis David. I'm hoping we see a pullback near the upper white bband in the 3-D tf but i fear things might not go that way. The uncertainty of our election might change things.
+1 Reply
Bullish on a higher view 🐻‍❄️🙏😊😃
Reply
Hey Dave you really go above and beyond in your T.A and your publications, your opinions are very respected on my part. Do you have an exclusive subscription for your followers at all?
Reply
Good analysis...Your chart is showing a potential rally in 2021 ending in 4th quarter? Am i right?
Reply
Thank you for this update David!
Reply