BTC: 2 Day Time Frame Indicates DUMP on November 23rd or 24th
Hi Everyone! Hope everyone had or is having a nice weekend. I simply wanted to provide an update to point out the indicators in the Near Term Group and Mid Term Group still indicate our current "Sign of Weakness" event in Phase E has HIGH ODDS of NOT BEING DONE YET. Meaning, odds are HIGH we are going to see another leg DOWN again. The 2-Day time frame < in particular > shows both the Red and Blue Lines may finally be below White Level 30 together on the 2-Day candle that begins Wednesday, November 23, 2022. Meaning, everyone is going to have a lot to talk about in regard to crypto on Thanksgiving Day in the U.S. Thanksgiving Day may also be the day in which we may have a chance to accumulate at or near the bottom of this Sign of Weakness event in Phase E of Distribution.
Here is the Near Term Group of time frames (12-hour, 24-hour, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week):
You will note the 4-Day time frame (Top Left Corner) also looks quite nasty the NEXT 4-Day candle. How so? Well, BOTH the Red and Blue Lines are likely to go below white level 30 the next 4-Day candle. At which point, we can anticipate increased odds for Stage 2 Expansion Down in the 4-Day time frame to begin. Will it begin the very first day of the 4-Day candle? Not necessarily... It can wait to begin expansion down some time during the 4-Day period of the NEXT 4-Day candle.
BE ADVISED: It's possible we may see a bull trap setup before dumping another leg down. So, please do not assume we are off to the moon if we begin going up an entire day or half a day. This would likely be a setup to play on emotions to deceive people into thinking we are heading to the moon; when we are not. I showed in this video how nasty most time frames look in the Near Term and Mid Term Groups of time frames.
Here is the Mid Term Group of time frames:
I hope this video publication was helpful.
Thank you for your valuable time and your support!
If you would, please click the like (boost) icon. It really helps me out with getting my opinion as high up as possible in the "Crypto Ideas" section of TradingView.
Happy Trading and Stay Awesome!
David M Ward Jr
Here is the Near Term Group of time frames (12-hour, 24-hour, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week):
You will note the 4-Day time frame (Top Left Corner) also looks quite nasty the NEXT 4-Day candle. How so? Well, BOTH the Red and Blue Lines are likely to go below white level 30 the next 4-Day candle. At which point, we can anticipate increased odds for Stage 2 Expansion Down in the 4-Day time frame to begin. Will it begin the very first day of the 4-Day candle? Not necessarily... It can wait to begin expansion down some time during the 4-Day period of the NEXT 4-Day candle.
BE ADVISED: It's possible we may see a bull trap setup before dumping another leg down. So, please do not assume we are off to the moon if we begin going up an entire day or half a day. This would likely be a setup to play on emotions to deceive people into thinking we are heading to the moon; when we are not. I showed in this video how nasty most time frames look in the Near Term and Mid Term Groups of time frames.
Here is the Mid Term Group of time frames:
I hope this video publication was helpful.
Thank you for your valuable time and your support!
If you would, please click the like (boost) icon. It really helps me out with getting my opinion as high up as possible in the "Crypto Ideas" section of TradingView.
Happy Trading and Stay Awesome!
David M Ward Jr
Comment:
UPDATE:
I posted a new Yellow Text Bubble with a Yellow A,B,C,D pattern on the 2021/2022 Distribution Chart:
I posted a new Yellow Text Bubble with a Yellow A,B,C,D pattern on the 2021/2022 Distribution Chart:
Comment:
UPDATE:
My Diagonal Trend Lines were "messed up" for whatever reason in my 2018 to 2022 Chart. I corrected it and reposting it here:
My Diagonal Trend Lines were "messed up" for whatever reason in my 2018 to 2022 Chart. I corrected it and reposting it here:
Related Ideas
2021/2022 Distribution:
2018 Distribution; 2019 to 2021 Accumulation and 2021/2022 Distribution: