WyckoffMode

BTCUSD: Casual Conversation on Current Price Movement

WyckoffMode Premium Updated   
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! We are still at threat of another leg down. It's still too soon to say we are for a fact in Accumulation. We need to see the price action go up to $18,000 in order for that to be considered a Simple Rally in Phase B of Accumulation before we can say we have a chance of actually being in accumulation. Currently, it does not look like we will get a move up to proximity of $18,000. So, we must conclude we are still at serious threat of another Leg Down for a second Sign of Weakness Event in Phase E of Distribution. Another Leg down in Distribution would take us down at least to the $14,677 to $13,777 price range. However, it CAN fall further.

This was the last update for quite a while on ANY asset. I have a LOT of work to do on important analytics projects/scripts I'm working on. So, I will be spending my valuable time on those projects for premium subs rather than posting updates here on TradingView and on Twitter .

Will I post an occasional update once every few weeks or so? Maybe... I haven't decided yet. BOTTOM LINE: I have more important projects to tend to that require my full attention and valuable time.

Happy Trading and Stay Awesome!

David
Comment:
UPDATE:

2021/2022 Distribution:

12-hour to point out we need to go up to $18,000 for a Simple Rally event to have a CHANCE of potentially being in Accumulation.

3-Day TF to point out we could still be in Distribution:

2018 Distribution Period; 2019 to 2021 Accumulation Period and 2021/2022 Distribution Period:

Entire History of Bitcoin Using Wyckoff Method 2.0 - NO DETAILED EVENTS within each phase:

Short Term Group of time frames:

Near Term Group of time frames:

Mid Term Group of time frames:

Long Term Group of time frames:

Macro Group of time frames:

Super Macro Group of time frames:
Comment:
UPDATE:

In case you're wondering about my Phoenix Ascending indicator:

Description of Each Indicator WITHIN Phoenix Ascending Indicator Provided in the Description. Click this chart below:
Comment:
In case you're wondering WHY "likes" (boosts) are and were important to me is for "reach" or "marketing" purposes. At one time, my videos would often make the top 4 ideas on TradingView and often see at least #2 or many times #1. However, that does not happen anymore. I don't get the "reach" I used to get. Why? Because people will not take a moment of their time to click "like" (boost) to push my ideas to or near the top 4 in order to get more "reach." Which would equate usually to more "likes" (boosts).

So, I just gave up. No point in doing it anymore if my followers will not take a moment of their TIME to click like. Hell, I spend a hell of a lot of my valuable time sharing my opinion and knowledge but no one seems to appreciate it anymore and wiling to help me get the "reach" I used to get. So, I'm simply done with this for a while. Maybe I'll be back and try it again in a month or two. We'll see how it goes then... I'll try it for a couple of week in a month or two and if I cannot get the likes (boosts) to get me to the top 4 ideas like I used to be, then what's the point of posting on here anymore? There is not point...
Comment:
UPDATE:

PRIVATE Publication - BTC: Potential $18150 to $18550 During Current Upward Pressure
Comment:
As long as the current video remains up here in the Top 4, I will continue providing updates. However, I'm getting sleepy after only having 4 hours sleep last night. So, I need to call it the night.

I appreciate everyone taking the time to click like on this video posted yesterday. Very much appreciated. It's nice to be back up in the Top 4 again like I used to be on a regular basis.

Stay Awesome!

David
Comment:
UPDATE:


6-Day time frame:
Comment:
UPDATE:

Pardon the additional notifications you may be getting but I should have posted the text for the Red Text Bubble for those requiring the use of Google Translate to convert the text into another language beside English.

RED TEXT BUBBLE:
The Red Line in this 6-Day time frame has me concerned. In what way?
It's not ready to go up from White Level 30 to justify price action going
up from the White Lower B-Band toward the Yellow B-Band Basis. This
means we can anticipate a LOT of resistance at this white lower b-band
at approximately $17,341.95 at this writing.

To be honest, we have a potential Death Triangle forming in this 6-Day
time frame. So, we should NOT assume just yet that we are in Phase B
of Accumulation. It's very possible the current move up is only a Last
Point of Supply event in Distribution before potentially falling down with
another Sign of Weakness event in Phase E.

The next 6-Day candle begins 3-Days and 19-hours from this writing.

wyckoffmode.com - Wyckoff Method 2.0

wyckoffmode.com - Scalping

wyckoffmode.com - Swing Trading

wyckoffmode.com - Money Management

wyckoffmode.com - Risk Management

wyckoffmode.com - Understanding Phoenix Ascending & Bad Ass B-Bands
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.