...Way Up to Test All Time High the End of August." We could actually be seeing the price action play out in similar fashion to shortly after our Block Halving Event in November/December, 2012. Watch the REPLAY tool used in this video for November/December, 2012 to see what I mean. We will know more when our current 12-Day candle comes to a close and we begin a new 12-Day candle on June 5, 2020. We want to see if our White Energy remains up high and the Red RSI keeps rising. If that occurs, it means what we are seeing in the Weekly and the 9-Day is likely playing hard on our emotions.
If you have not watched the following video covering the BASICS on how to determine when a period of downward pressure is about to reverse to a period of sustained upward pressure, you should watch it. It is IMPORTANT and VALUABLE information. There is more advanced information to know in addition to the basics covered in the video but the basics is a good start.
"Double Time Frame Cascade Rule - BASIC: Ending Downward Pressure."
Using the replay function for multiple examples to support your TA was very compelling and educational. Thank you for your continued efforts and excellent content.
Thank you for you very kind feedback and continued support!
Stay Awesome!
David
Vespaa
⋅
Large corrections occurred after the price of bitcoin exceeded 10,400 USD in October of 2019 and in March of 2020. Given this past data, I would not be certain of a coming bull market and would not be surprised if a correction where to transpire soon.
Thanks for sharing your opinion based on historical support resistance. While I do look at historical support and resistance; I also realize there comes a point in which support or resistance is overcome. The chance of that historical resistance being overcome may be fast approaching.
Stay Awesome!
David
dbakkerdesign
⋅
Hey David, Amazing ta as always. Love the replay button. Thanks for the update and loved catching the end of the live stream today. The white energy in 3h has now made it above 50 before 6h rsi going below 50 as you mentioned to look out for! Lets hope it continues up from here?
Cheers Dan and Leanne
Happy y'all enjoyed the video. I recently posted a couple of updates on the 90m, 3h and 6h.
Stay Awesome!
David
pbmining
⋅
I will wait till June 5th to see what the 12H candle is showing before deciding what if any action to take. As always, I look forward to your analysis and updates as we move along. I've closed out all my positions and am now poised to decide where to place my new ones (positions).