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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UPDATE:
Here's a look at the 12h in May, 2017:
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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.
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UPDATE:
Providing a couple of examples of what I'm referring to in the previous post of the 12h time frame:
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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:
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UPDATE:
BTCUSD: IMPORTANT to Understand My 3-Scenario Target Ranges!!!
Hi David, your analysis is getting better with time. I'm liking the newly added bollinger bands as they provide a clearer perspective of the estimated price levels the price action is likely to reach. Out of all the crypto analysis I've read on TV and seen on YouTube, your indicators are by far the most consistent and accurate in predicting price movements/ pressure. I've used it in conjunction with technical support and resistance levels to position my entry and exit price levels with some success. Of course I'm still a novice trader so my positions and profits aren't huge but, I've managed to double my trading capital in a period of about 8 months so no complaints there and I'm grateful that you're sharing your knowledge and expertise for free. I'm certainly not going to hesitate signing up and subscribing to your website on an annual basis once it's up and running :).
Thank you for the positive feedback, Mate! You're very kind... ; )
SUPER HAPPY to hear you have been learning and gaining more confidence each day you apply what you have learned. ALWAYS HAPPY to hear when someone is profitable while using my methods of analysis.
You're very kind to have shared your experience thus far with my indicators and methods.
I was getting super tired and burned out from the lack of sleep. I was able to catch up on "some" sleep but still not quite enough. I've had a hard time sleeping more than 3 to 5 hours straight lately. I'm going to do a publication for ETHUSD within the next hour.