WyckoffMode

BTCUSD: Expecting 1.0 FIB ($14.4K - $14.6K) to Maintain Support.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! I sat here for approximately an hour looking at many time frames present day and in history for comparison. I simply think it's too soon to think about opening a "safer" short position because of how much more time remains for upward pressure in the Weekly. Those of you looking for where to potentially accumulate; I'm estimating the price action may go sideways a few days with my PRIMARY 1.0 FIB Level (14,390 to 14,611) acting as support. Could we wick down to my 0.382 FIB Re-Trace then come back up? Sure... it's possible. I'm of the opinion we are at a stage of Composite Groups luring in margin shorts for a short squeeze one more time before taking us up again.

Taking us up again would stir up emotions of going to the moon and get others to FOMO in at a higher price than current price (maybe around $16.0K to $16.8K). Then they take us up quite a bit to around $17,xxx and slam it down to $15,850 in an attempt to liquidate margin longs before going up one last time before a major pullback. That's my thoughts anyway...

I may provide a few more charts with text bubbles in updates below in due time.
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Here's a look at the 12h in May, 2017:

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6 hour time frame: REMEMBER... The B-Bands are currently RISING if the price action were to fall. So, the current prices of the LOWER B-Bands may be HIGHER than they are NOW if the price action were to come down a candle or two later.

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Providing a couple of examples of what I'm referring to in the previous post of the 12h time frame:

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Word is somehow getting around as if I have said my target is $40,000. I have not said nor implied that is where we are going as if it is certain. In fact, I have two (2) scenarios in which I believe one could play out. I posted them in a previous publication. Those two scenarios (potential targets) are in the following 3-Day Chart:

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BTCUSD: IMPORTANT to Understand My 3-Scenario Target Ranges!!!
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