BTCUSD: More Detailed Analysis of the 2-Day Time Frame...
Hi Everyone! I wanted to point out a few important observations in the 2-Day time frame. I will follow up with another chart pointing out a possible scenario at current price level as well that I did not mention in the video.
Happy Trading and Stay Awesome!
David
Happy Trading and Stay Awesome!
David
Comment:
Comment:
UPDATE:
BOTTOM LINE: We've seen them drop it $2,200 in a single 24 hour candle and take it right back up to where it fell from the very next 24 hour candle. It's POSSIBLE that could occur again in an effort to liquidate margin longs before resuming upward pressure we see in the higher time frames.
Am I saying this will absolutely occur? No... I'm simply wanting you to be aware of that possibility. If that occurred, we would anticipate a drop down fairly close to the Yellow B-Band Basis in the 2-Day time frame. So, if you want to place some buy orders just a little above the B-Band Basis in the 2-Day time frame in the event of that POSSIBLE occurrence, then do so.
If you were paying attention to the video, we are expecting the price action to likely remain up at current levels until the Green Line falls in the 2-Day to make contact with the Red RSI. That may not occur until the NEXT 2-Day Candle. Then the next 2-Day candle after that (October 31, 2020) we could see a CHANCE for a drop to the Yellow B-Band Basis in the 2-Day but AT LEAST to the White UPPER B-Band in the 2-Day.
BOTTOM LINE: We've seen them drop it $2,200 in a single 24 hour candle and take it right back up to where it fell from the very next 24 hour candle. It's POSSIBLE that could occur again in an effort to liquidate margin longs before resuming upward pressure we see in the higher time frames.
Am I saying this will absolutely occur? No... I'm simply wanting you to be aware of that possibility. If that occurred, we would anticipate a drop down fairly close to the Yellow B-Band Basis in the 2-Day time frame. So, if you want to place some buy orders just a little above the B-Band Basis in the 2-Day time frame in the event of that POSSIBLE occurrence, then do so.
If you were paying attention to the video, we are expecting the price action to likely remain up at current levels until the Green Line falls in the 2-Day to make contact with the Red RSI. That may not occur until the NEXT 2-Day Candle. Then the next 2-Day candle after that (October 31, 2020) we could see a CHANCE for a drop to the Yellow B-Band Basis in the 2-Day but AT LEAST to the White UPPER B-Band in the 2-Day.
Comment:
UPDATE:
ONE MORE REMINDER: Since we know it's very possible for the price action to begin a pullback in the 2-Day time frame on the 2-Day Candle beginning October 29th or October 31st. We would also anticipate the price action to pull back at a minimum to the White UPPER B-Band in the 2-Day Time Frame:
ONE MORE REMINDER: Since we know it's very possible for the price action to begin a pullback in the 2-Day time frame on the 2-Day Candle beginning October 29th or October 31st. We would also anticipate the price action to pull back at a minimum to the White UPPER B-Band in the 2-Day Time Frame:
Comment:
UPDATE:
Here's an update using the 2-Day Time Frame:
Here's an update using the 2-Day Time Frame:
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