WyckoffMode

BTCUSD: Expansion as Expected; Heading up to Preliminary Support

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! It appears we may be heading back up toward Preliminary Support around the 1.0 FIB; possibly a BRIEF pullback ( LPS ) around Preliminary Support before potentially seeing an Up-Thrust above Preliminary Support to show us the Sign of Strength Required to potentially resume Phase E of our Wyckoff Accumulation Schematic.

Comment: UPDATE:

NOTE: You see the "last" LPS (Last Point of Support) right around the Preliminary Support Level just before we saw an Up-Thrust to our Sign of Strength. Present day is a similar schematic but on a shorter time scale. WHY? Because this is a "BRIEF" period of RE-Accumulation after a "BRIEF" period of RE-Distribution. Phase A, B and C of our "MAIN" (Big Picture) Accumulation Schematic was WHERE the "majority" of the "Accumulation" occurred; as well as Market Makers (Composite Groups) opening positions to increase their capital even more for the "future" stepping stones of Phase E. All of this is a build up of capital (a number of ways) in preparation for Phase E.

We see BRIEF periods of RE-Distribution of assets followed by BRIEF periods of RE-Accumulation of assets; not to mention multiple competing Composite Groups; before we leg up with another Sign of Strength into another HIGHER trading range acting as a stepping stone to even higher trading ranges.

Here is 2015/2016:
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The "BIG PICTURE"

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Here's a look at our 8-hour time frame. Red text bubble was just added...

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We have a NEW 8-hour candle. I had to delete the previous post due to a typo in the red text bubble. It has been corrected...

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I created a new VIDEO publication titled, "BTCUSD: Update on Current Price Action with Old Nuggets."

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BTCUSD: I'm going to keep updating on this 9-Week TF on occasions. This is one of those occasions to use only as a "reminder."

Comment: UPDATE:

There was a "little" more history on BLX for Bitcoin. However, still not enough data compiled for the 9-Week time frame to populate all indicator lines within Phoenix Ascending indicator. So, I improvised and created my own depiction of what it could have looked like with the White Energy, Green Line and Red RSI. However, I did not wish to invest the time for all that would be involved for the Blue LSMA and expansion of the B-Bands.

Comment: UPDATE:

Made a correction on the location the White Energy crossed below Level 50 in January, 2014.

There was a "little" more history on BLX for Bitcoin. However, still not enough data compiled for the 9-Week time frame to populate all indicator lines within Phoenix Ascending indicator. So, I improvised and created my own depiction of what it could have looked like with the White Energy, Green Line and Red RSI. However, I did not wish to invest the time for all that would be involved for the Blue LSMA and expansion of the B-Bands.
Comment:
Comment: UPDATE:

Look for the White Upper B-Band; currently at $38,54x to hold on a dip down. That's if it manages to wick down that much like DOTUSDT might do.

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Here is an example of the 12-hour from history...
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

Yep, we have jumped the Wyckoff creek.
Check this out though, look similar (even moving averages are similar) ?
+10 Reply
Gaengphed Pro_Trader_HTBB
@Pro_Trader_HTBB, Indeed very similar! :-)
+1 Reply
WyckoffMode Pro_Trader_HTBB
@Pro_Trader_HTBB,

Yes, MA's are similar...

Thanks for sharing...

; )
+2 Reply
Pro_Trader_HTBB WyckoffMode
@WyckoffMode, The pleasure is mine. Enjoy your angle on things.
+1 Reply
trigalrunner Pro_Trader_HTBB
@Pro_Trader_HTBB, The resemblance is uncanny, WOW!!
+1 Reply
@Pro_Trader_HTBB what chart is the one on the right ?
Reply
Pro_Trader_HTBB ShakenBake1515
@ShakenBake1515, Left is weekly Apple chart from 2008/2009. Right is BTC/USDT daily chart current date.
Reply
Thanks again David for an awesome analysis... it's been about a year almost now since I came accross your Wyckoff Method and using your indicators. I have had personal trainging with a Pro Trader using more traditional methods; Fibs, MACD, RSI, CCI, Volume, confluence, confirmation techniques etc... I really like your system as it is much simpler to follow, alomst TOO EASY to understand and foloow, with a few twists here and there that you have shared as GEMS over the recent months I have come to use your technique, indicators more often to check or confirm other trade TA... Lol
Anyhow, wanted to thank you again for all your effort and time, cannot wait for your new sytem to be available for us all to test out - Be awesome always...
+6 Reply
WyckoffMode AtPercentageAotearoa
@AtPercentageAotearoa,

Hi APA,

Thanks for following as long as you have, for commenting and your support!

Yes, I agree... I TOO was tired of all the "traditional orthodox" methods and was DETERMINED to create something more SIMPLE. It really is much more simple than most realize.

Most of my "secrets" have to do with HOW and WHEN we trade. I've told almost everything I know on my methods. I've still held a couple of things back. Most importantly, is knowing HOW and WHEN to trade based on the available TIME one has to trade.

Much of what I will teach will also involve margin trading (leverage). However, we will not get crazy with it. We will use small bets on leveraged positions to accumulate more assets WHILE ALSO doing simple selling high and buying low with other trades. The bulk of the increased gains will come from leveraged trading. However, we must be SMART on WHEN and WHERE we open our margin positions.

I also have not taken the time to cover EVERYTHING IN DETAIL on a single asset in my publications. I have only focused on certain things with my methods for weeks or even months at a time before sharing something new. I will start bringing back older things I've mentioned with my methods (upward pressure races, downward pressure races and green higher than energy or visa-versa ALONG WITH what I've shared recently with the IMPORTANCE of paying attention of what level your Red RSI and Blue LSMA are IN ALL GROUPS OF TIME FRAMES.

It will all make sense when it is all put together before your eyes. However, once you see it, you will determine certain TYPES of trading suits this method depending on the available TIME one has to trade.

Cheers and Stay Awesome!

David
+1 Reply
Daily needs more time
+4 Reply