I hope this video publication provides further confidence while providing education in regards to how the indicators work. This video publication is my OPINION ONLY. This is NOT financial advice... ONLY OPINION. As time passes and we see further clarification as to what I'm saying about the indicators coming to pass; you may find it is worth your time and effort to LEARN how to USE these indicators.
This is labeled a "LONG" position for LONG TERM TA... NOT SHORT TERM TA. We are currently still experiencing downward pressure. We may find the 20-MA in the 12 hour time frame act as support. So, it's POSSIBLE we may fall to $8,322 but not guaranteed.
Thanks for investing your valuable time watching this video. If you don't mind, take a moment to smash the LIKE icon. Thanks again for your support and... as always.... STAY AWESOME!
David
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MACD indicator does not give us as much valuable information as Godmode 3.1 Mod with LSMA provides. I used to use MACD all the time when I first began trading. However, it did not give me all the information I was looking for while engaging in multiple types of trading in multiple time frames.
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Additional clarification as to WHY I'm of the opinion Godmode 3.1 Mod with LSMA is a BETTER indicator than MACD indicator.
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Update using the 24h Time Frame (TF): As you can see, we have come down to the Yellow 20-MA in the Daily TF within 2 to 3 days as mentioned in the video. Well, not quite to it just yet but already fairly close to it. I plan on creating a new video publication in a few hours. I have a few more other things to do first.
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Two scenarios in the following publication: Looks like the WHITE scenario is potentially playing out instead of the Aqua Blue if you click "PLAY." I'll follow up with a video publication in a few hours.
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Still a chance for $8,322 to hold. Hence, the reason for the two scenarios drawn here in the Daily:
@WyckoffMode - Always appreciate your publications, Sir. Thanks for setting aside those wee morning hours to look at these different time frames. This current period in which we find ourselves, really speaks to the unique psychology that is market movements. On the one hand, we have those people who are purchasing BTC knowing that in the next six to 12 months, the reduction in the Block reward will push the price higher - how high is still debatable, but the math suggests, at minimum, double the price. On the other side, you have the folks who believe that this is "baked into" the price at present. This group is calling for a fall to 3K-4K, suggesting that at 8.5K, we are actually seeing the double-price of the block reward moving from 12.5 to 6.25. Which one of these prevailing sentiments is going to win out? From your indicators, it appears that "longer-term" thinkers are seeing 14K - 18K; while, the short-term thinkers are seeing a return to high 7K to low 8K range. It is possible that both could be right, as you point out with a drop to your 8.3K Fib, or at least a test of it. I think, however, that there are a vast majority of "long-term" thinkers in this market at present, with far fewer "short-term" thinkers. We could see a Gap Fill on CME Futures, since they expire on 31 January. I can't rule this out, but it would mean nothing lower than 8.1K to fill that Gap. Let's see how it plays out. Look forward to your next update!! Stay Awesome :D
Thanks for dropping by and investing your time watching the video.
Yes, I noticed that gap around the $8,100 price range. PART of that gap was filled but not necessarily all of it. Which is why I'm not as sure this time as I was last time in regard to how far we go down before continuing upward.
UnknownUnicorn3511625
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Good job!
UnknownUnicorn3511625
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@QuantumHedgeFund,
WyckoffMode
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@QuantumHedgeFund,
Thanks for sharing your opinion... ; )
WyckoffMode
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@QuantumHedgeFund,
Thanks!
WRJSLJ
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Thank so much for your great analysis! Much Appreciated!