...In the mean time, the 3h TF is nearing exhaustion. We are already seeing signs of that exhaustion. I'm expecting more sideways price action within my purple shaded area of $7,950 to $8,175 for a while until some time between this Thursday and Sunday. I'm still seeing quite a bit of support in the purple shaded area. The volume in the Daily is much less present day in the purple shaded area than it was at that price level in the Daily TF in history. Which would make us wonder if "supply" is diminishing based on the volume being much less at the price level in the purple shaded area compared to history in the same purple shaded area. I'll post a chart shortly to show the purple shaded area in the Daily.
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A look at the volume in the Daily TF:
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If we are correct in our analysis regarding us being in Phase D of a Wyckoff Accumulation Schematic, what should follow is the consistent dominance of demand over supply. Evidence of this is shown by a pattern of advances in the form of "Sign of Strength" (SOS) on widening price spreads and increasing volume. Well, we saw evidence of this from end of March, 2019 to end of June, 2019. There is additional evidence of us being in Phase D as well as by seeing multiple reactions in the price action referred to as "Back-Up/Last Point of support" (BU/LPSs) on smaller spreads and diminished volumes. During Phase D, the price will move at least to the top of the Trading Range (TR).
Here's a larger view of the history of Bitcoin using Wyckoff Method:
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Here's a look at the Shake-Out of 2013 before going up exponentially:
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Please remember we are keeping a close eye on the White Energy in the 3-Week Time Frame:
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Comparison to 2013:
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I was asked the following question in comments (below):
"You said in video and in one of the bubbles in your charts that it could drop to 6k range as a long squeeze, but another of your bubbles you said it is uncharacteristically out of norm to drop to 6k range for the phoenix ARI to drop down to 20% level. Am I misunderstanding something?"
My Reply in comments section (below):
I mentioned around the 8:30 minute mark in the video this is a FIRST to see the price action like this and the indicators like this in the 3-Week TF. Meaning, this is a FIRST for me to watch this actually play out LIVE with the indicators. It's POSSIBLE for the price action to still come down to the 6k's and the Phoenix ARI in the Monthly TF to remain at or above the 80% level and the bull trend continue. So, the Phoenix ARI does not tell us whether or not we will fall down to the 6k's. That was mentioned in the video. I cannot allow myself to be bull biased or bear biased when looking at the indicators. Especially, when looking at the 2-Week and 3-Week TF's. As much as I want the White Energy to continue going up to the 50% level in the 3-Week TF, there's a chance for it not to make it up their on this current move up. There's always a chance for a "first." So, it's IMPORTANT to me NOT to be bull biased or bear biased; which would make me ONLY focus or look for things to support my "bias."
When looking in history, we can see the White Energy in the 3-Week TF has always managed to continue going up to the 50% level and higher IF THE PHOENIX ARI WAS AT 80 PERCENT OR HIGHER IN THE MONTHLY TF. However, that is looking at it AFTER THE FACT (hind sight 20/20). We did not watch this actually play out in similar circumstances in the past with these two indicators in the 3-Week TF. This is a first for me to watch this WITH THESE INDICATORS. So, this particular point in history with the indicators is just as new to me as it is for everyone else with these indicators. It's quite possible the Green Line in the 3-Week TF could continue to look similar to the way it looks currently (angled down) by the end of the FIRST WEEK of the current 3-Week Candle; and then later turn up during the middle of the second week or beginning of the third week and FINISH angled upward BY THE END OF THIS CURRENT 3-Week Candle.
I say again: It's POSSIBLE for the price action to fall like a knife from here during the first week of this 3-Week candle and then turn up during the second week and FINSIH at 10K or higher during the third week of this 3-Week Candle; which would have the White Energy continuing higher from current level AND finish with the green line angled upward.
It's mainly this FIRST WEEK of this 3-Week Candle that I'm concerned about. Once we get passed this first week and into the middle of the second week of the current 3-Week Candle without going down significantly, I would feel more at ease about us not falling down to the 6k's in the near term. So, I'm simply being honest (transparent) in what COULD still potentially occur early on in this current 3-Week Candle.
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UPDATE IN LOWER TF's: BE SURE TO READ "ALL" TEXT BUBBLES BEFORE CONSIDERING A POTENTIAL TRADE. THIS IS ONLY MY OPINION...
12h TF:
3h TF:
90 minute TF:
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Of course it ends up going up while creating this additional comment on the 90 minute TF:
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I posted these lower time frames to show you the POSSIBILITIES at your finger tips with these indicators if you know what you are doing; if you can be patient to wait for the right signals and you can avoid allowing greed to control how much leverage you use in your margin trades. I would try to keep your leverage no higher than 5x for sure. Would prefer you went no higher than 3x most of the time.
Here's the 45 minute one more time:
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This takes PRACTICE, PATIENCE and SELF CONTROL. Do NOT allow yourself to feel like you have to be in a trade constantly at all times. Be PATIENT and wait for good signals.
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Green 50-Moving Average in the 90 Minute may have been the best choice to take PARTIAL profit with 75% of your position and let it ride for the remaining 25% of your capital in the margin trade if you are using an API via a 3rd party with the ability to get that detailed in your trades.
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When I said, "...and let it ride with the remaining 25% of your capital in the margin trade," I'm referring to IMPLEMENTING A TRAILING STOP ON THAT REMAINING 25 PERCENT>
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Hi everyone!
I've been helping TradingView BETA TEST their LIVE Streaming product that will be available on the platform for the masses soon. I'm going to run one more test before I go LIVE on their BETA Streaming platform. When I do, I will post the link here in comments section for anyone who would like to join in.
I would appreciate your feedback of the streaming service. I will copy any proposals and/or requests you may have and paste them in the Streamers Beta Channel Chat Room for the developers to see. They want your feedback... So, your participation would be appreciated.
Again, I'm going to test it one more time before I post the link here in comments. I'll be back to post the link soon (about 10 to 15 minutes).
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Here is LINK to BETA TEST for TradingView LIVE STREAM. Your input, thoughts, requests during this BETA Test would be appreciated. I'm sharing this link on several platforms. So, be patient and wait for me to catch up with you in the LIVE Stream AFTER I post this link on several platforms. tradingview.com/streams/i-LRHDLZQ4cm6EUkhavve/
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About to work on an update to post within an hour from now; then I have a conference call. AFTER the conference call, I will then do a LIVE Stream similar to the one I did yesterday. However, I'm not sure if I will do a LIVE Stream for six (6) hours straight like I did yesterday.
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A HIGH probability that was our bottom. Getting to work on a video publication.
A knife to 7350, negating the entire $3000 pump. Just wondering if you have wise words for us trembling souls.
I see that 9D white energy is still coming down, 12D turned down for a 3rd tip. Should we expect the 1W white energy to round out and complete before it actually pumps for real, which could take us the rest of 2019, and in the meantime falling deeper than 7350?
I'll provide an update within an hour. I did a LIVE stream for approximately 6 hours yesterday talking about this.
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Hehe You know you are the best here :) reversal indeed. we have nice wevetrend and RSI divergences at 2h TF. also trendlines meeting, also divergences at other TFs... BUT fractal indicator still not very much in favor. still could dump to pump later as situation at 23. sep, but at phoenix we can see we are already in different situation (like it was already dumped) and that is why the dump should not come (or? :D)
I "WISH" I was "...the best here." lol. I "still" find things almost every day to work on personally in order to become a better trader and analyst. I hope to be "among" the best in the future. I'm certainly striving for that to come to pass some day.
I just posted more information about the current 3-Week Candle in my personal comments within the body of this publication. Not sure if you caught it while you were posting your chart with comment or not. I will feel much better (as noted in the comment above) once we make it past this first week of this current 3-Week Candle without a dump. They can do a flash dump just as surprisingly as they did that flash pump the end of October. Crypto can get VERY CRAZY some times. ; )
This is also a FIRST to see this HUGE spread between the margin long and margin short contracts on BitFinex. I've NEVER seen a spread like this LAST THIS LONG on BitFinex. So, there have been several "FIRSTS" for me to experience here. Just as I'm sure this is a FIRST for most everyone else with their own indicators they normally use. I'm trying to be as TRANSPARENT as possible in regard to what I DO see and know compared to what I DON'T see and know.
BOTTOM LINE: The first week and a half of this current 3-Week Candle will have major influence on what will come in the near future in the last week and a half of the current 3-Week candle and beyond.
Thanks for sharing your chart and for commenting...
Stay Awesome!
David
DuchCick
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Ok, thanks a lot. Good to know that phoenix is in a never seen shape before.So there the flash dump as the fractal ribbon indicate, is still n play then... still there are some another differences as this unhealthy jump at 20th. sep. before which there were no indicators to support that move. that is probably what we are looking for. The red big dots close to each other at 1h TF at Phoenix 1.391 between 50-80% with rsi broker down from around 50% I think :D ...
Can you show me what you are referring to with Phoenix 1.391 with a screenshot? It may be you do not have your Phoenix 1.391 setup the same way I do. If not, I may learn or pick up on something new. I'm always open to find and/or learn something new that could be beneficial.
DuchCick
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@WyckoffMode, I have default setting, using only 15,30,45,1,2,3,D,W TF, learning how it behaves when and comparing with others. But not sure if it works :D we should use astronomic AI for pattern recognision in spectrum for various trading indicators... that would be somuch more effective :D