BTCUSD: Casual Discussion of Current Price Movement

Hi Everyone! Simply pointing out what we are looking for in the price action. Reminder: the 8-Day, 9-Day and 10-Day time frames still show potential for the Red RSI to continue falling and the Blue LSMA is below Level 50 now in the 8-Day and 9-Day. We are getting close to the Blue LSMA in the 10-Day falling below Level 50 six days from now. We could be at risk of falling to the Orange Lower B-Band in the 8-Day, 9-Day and 10-Day time frame either during the current 8-Day, 9-Day and 10-Day candles or potentially the next 8-Day, 9-Day and 10-Day candles.

The "current" 24-hour candle indicators still have the White Lower B-Band ($38,000) as RESISTANCE. At least for the current 24-hour candle. BE ADVISED: As an investor, you still have PLENTY of time (in my opinion) to be PATIENT as we see what occurs here until the NEXT 24-hour candle. Let's see what our indicators look like in the Short Term Group at the beginning of the NEXT 24-hour candle to see if the White Lower B-Band ($38,000) will continue to act as RESISTANCE.

Happy Trading and Stay Awesome!

David

Short Term Group:

Near Term Group:

Mid Term Group:

Comment:

UPDATE:

Because of the way the indicators look CURRENTLY, I'm leaning more towards multiple LPSY (Last Point of Supply Events) before coming down with another SOW (Sign of Weakness) in Phase E; RATHER THAN an Up-Thrust in Phase E; followed by a higher low; followed by an Up-Thrust/Last Point of Supply before coming down further.

Comment:

UPDATE:

I'll provide another update for Bitcoin, Cardano and maybe one more crypto within the next couple of hours. Plenty of time to provide an update based on what I'm seeing in the 8-hour.

Stay Awesome!

David