BTCUSD: Expecting 1.0 FIB ($14.4K - $14.6K) to Maintain Support.
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.
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.
Comment:
Comment:
UPDATE:
Here's a look at the 12h in May, 2017:
Here's a look at the 12h in May, 2017:
Comment:
UPDATE:
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.
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.
Comment:
UPDATE:
Providing a couple of examples of what I'm referring to in the previous post of the 12h time frame:
Providing a couple of examples of what I'm referring to in the previous post of the 12h time frame:
Comment:
UPDATE:
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:
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:
