ProwdClown

Part 2: Sideways @ Worst to May 25, 2019; Could Continue Higher

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Will keep you updated as May 25th approaches. I'll post another chart shortly to see the POSSIBLE lowest and highest price till May 25th before possible 20 to 30 percent dip before continuing up.
Comment: I currently see us continuing sideways within a relatively tight trading range until the May 25th to May 29th date range IF THE PRICE ACTION IS TO FOLLOW UP WITH A DOWNWARD PUSH. However, we still have a chance for continued upward pressure until then. So, if the price action does rise significantly between now and the May 25 to 29 date range, that date range could change as a result of a significant upward move affecting the movement of the indicator lines in multiple time frames.
Comment: I currently see us continuing sideways within a relatively tight trading range until the May 25th to May 29th date range IF THE PRICE ACTION IS TO FOLLOW UP WITH A DOWNWARD PUSH.  However, we still have a chance for continued upward pressure until then.  So, if the price action does rise significantly between now and the May 25 to 29 date range, that date range could be "extended" as a result of a significant upward move affecting the movement of the indicator lines in multiple time frames.

The Litecoin Block Halving is playing a major role in the length of time of this current bull run. The fact we have 75% less bitcoin on exchanges than we did back in 2017 is an additional reason for this current bull run continuing to late June or mid July. Less Bitcoin on the exchanges will decrease the affect "supply" will have in its conflict with demand. We have a LOT of people who did not accumulate coins at lower levels.

Some are still waiting for a significant dip to accumulate coins and will likely end up surrendering to FOMO as the price continues stair stepping higher. As the price continues higher it makes the position of those who buy at higher prices "weaker." They feel less secure in their position at the higher price they paid to accumulate. Hence, the term "Weak Hands." We don't have enough "Weak Hands" in the market yet for a significant dump in my opinion. However, the number of "Weak Hands" will increase over time.
Comment: Well, we did not stay up till the 3rd caution dot. It ended up being similar to the couuple of times I should in history with only one or two caution dots in the 4-Day time frame. It's POSSIBLE we go down to the $6,149 FIB then shoot right back yup again.

Comment: WOW... This is occurring ONLY on bitstamp at the moment. Binance still at 7100.
Comment: This is sooooo weird Bitstamp is the only one to dump this deep this quickly. Coinbase, Binance, Bitfinex and Gemini still over $7,000
Comment: In the following order: Bitstamp, Bitfinex, Coinbase & Gemini:

- No FOMO any more
- Facing with supply zone
- AD break down trendline
- Bearish Engulfing pattern
- All good news has been published
- We're seeing bearish divergences in the RSI ...

Please take a look at our idea and let us know what you think!

Reply
Here is my thought Here is my thought
Reply
ProwdClown CryptoFido
@CryptoFido,

Thanks for sharing. You might also want to have a look at the Stochastic RSI in the 2-Week Time Frame and compare it to history. Also have a look at the 3-Week TF while comparing the current movement to history. The 3-Day is such a small area of time when looking at indicators. I've found it's beneficial to see WHERE we are going and WHEN we may get there in higher time frames.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out