BTCUSD: Casual Conversation on Current Price Movement

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

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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:

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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:

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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...

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UPDATE:

PRIVATE Publication - BTC: Potential $18150 to $18550 During Current Upward Pressure

19:56

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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

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UPDATE:

6-Day time frame:

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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.