BTCUSD: Chance for $54400 at White Upper B Band Soon
Hi Everyone! I pointed out in previous publication we could go up to as high as $53,000. However, we actually have a chance to go up to withi8n proximity of the white upper b-band in similar fashion to July, 2015. We even have a possibility of continuing higher to the Aqua Upper B-Band near $60,000 this 2-Week candle or the next 2-Week candle. I mentioned in previous publication the current 1-Week candle will likely be a "short candle" (very little range of movement) and the NEXT Weekly candle has a better chance of us going to the white/aqua UPPER B-Bands in the Weekly. We may have to wait for "both" the Red RSI and Blue LSMA in the 2-Week to rise above Level 50 before we begin to see any kind of serious expansion. White means we may have to wait two more 2-Week candles AFTER the "current" 2-Week candle.
The Red RSI and Blue LSMA both rising above Level 30 is a good sign for increased odds for price action to go up to at least within proximity of the white upper b-band in the 2-Week time frame. Let's see if we go up there the current 2-Week candle or the next 2-Week candle. We still have over 8 days remaining in the current 2-Week candle.
Don't forget: We need the Red RSI to rise above Level 50 to trigger upward pressure in this 2-Week time frame. We also know upward pressure will continue until the white energy comes back down to or near Level 50 "if" the Red RSI can manage to "close" above Level 50.
Hope this was helpful for the near to Mid Term.
Happy Trading and Stay Awesome!
David
The Red RSI and Blue LSMA both rising above Level 30 is a good sign for increased odds for price action to go up to at least within proximity of the white upper b-band in the 2-Week time frame. Let's see if we go up there the current 2-Week candle or the next 2-Week candle. We still have over 8 days remaining in the current 2-Week candle.
Don't forget: We need the Red RSI to rise above Level 50 to trigger upward pressure in this 2-Week time frame. We also know upward pressure will continue until the white energy comes back down to or near Level 50 "if" the Red RSI can manage to "close" above Level 50.
Hope this was helpful for the near to Mid Term.
Happy Trading and Stay Awesome!
David
Comment:
UPDATE:
We are still riding along the Red Diagonal Trend Line after bouncing off the upper boundary of our PREVIOUS "Preliminary Support Range in this 12-hour time frame.
Here is a "Pulled Back View" of the 12-hour time frame without indicators:
We are still riding along the Red Diagonal Trend Line after bouncing off the upper boundary of our PREVIOUS "Preliminary Support Range in this 12-hour time frame.
Here is a "Pulled Back View" of the 12-hour time frame without indicators:
Comment:
UPDATE:
3-Day and 6-Day time frames:
The Red RSI in the 6-Day closed above Level 50; triggering upward pressure; before the White Energy in the 3-Day could close below Level 50 to trigger downward pressure. Which means the odds are increased for upward pressure to continue; resulting in sideways price action at worst or upward at best.
Here's a look at the 24-Hour time frame. Look closely at the level of the Blue LSMA:
We would say current support is at $43,390 (The B-Band Basis). Which is explained a bit in the text bubbles. However, this does not mean we must fall to the B-Band Basis.
The 12-hour time frame is the only time frame below the 2-Day time frame showing a chance to come down to the white/aqua LOWER B-Bands at $44,770 to $44,000. However, the 90-minute, 3-hour and 6-hour time frames show a chance of running up to the white/aqua UPPER B-Bands between $46,600 and $48,000. We need the Red RSI to go up above Level 50 along with the Blue LSMA in the 90-Minute, 3-Hour and 6-hour to avoid potentially falling to $44,000 at the B-Band Basis in the 24-hour.
Here is the 90-Minute, 3-Hour, 6-Hour and 12-Hour:
3-Day and 6-Day time frames:
The Red RSI in the 6-Day closed above Level 50; triggering upward pressure; before the White Energy in the 3-Day could close below Level 50 to trigger downward pressure. Which means the odds are increased for upward pressure to continue; resulting in sideways price action at worst or upward at best.
Here's a look at the 24-Hour time frame. Look closely at the level of the Blue LSMA:
We would say current support is at $43,390 (The B-Band Basis). Which is explained a bit in the text bubbles. However, this does not mean we must fall to the B-Band Basis.
The 12-hour time frame is the only time frame below the 2-Day time frame showing a chance to come down to the white/aqua LOWER B-Bands at $44,770 to $44,000. However, the 90-minute, 3-hour and 6-hour time frames show a chance of running up to the white/aqua UPPER B-Bands between $46,600 and $48,000. We need the Red RSI to go up above Level 50 along with the Blue LSMA in the 90-Minute, 3-Hour and 6-hour to avoid potentially falling to $44,000 at the B-Band Basis in the 24-hour.
Here is the 90-Minute, 3-Hour, 6-Hour and 12-Hour:
Related Ideas
If you are new to tradingview, you can click on the right price bar on the "interactive" chart to expand or contract. THEN, you can click on the chart itself and "drag" the chart how you wish to be able to read the top text bubble. OR, you can click on the chart here in the description to read the text bubbles.