WyckoffMode

BTCUSD: Potential Automatic Rally 12hr White Lower BB Resistance

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! It's POSSIBLE we may be in the beginning stage of an Automatic Rally if we can go up to at least to within proximity of $38,000. This may take two or three 12-hour candles (including the current 12-hour candle) to "over-extend" up to or a little above the White Lower B-Band in the 12-hour time frame. Be mindful of an eventual pullback to "Test Support" once again if we do continue with upward pressure and see an "Automatic Rally" event in Phase A of Re-Accumulation.

It's important the Red RSI and Blue LSMA in the 2-hour time frame are able to get above Level 50 in order for us to get that "Automatic Rally." So, let's not draw the conclusion just yet that we will see an "Automatic Rally" now. The possibility is still there to get more expansion down in the 2-hour; as long as the Red RSI and Blue LSMA remain below level 50 in the 2-hour. All it would take is the Green turning back down in the 2-hour and contacting the Red RSI and Blue LSMA while going down; indicating downward pressure. We would also get potential expansion down in the 2-hour if that occurred.

Yes, there are other details to KNOW to have an idea of WHEN to execute a trade to have yourself in position to take advantage of a POTENTIAL event within a Wyckoff Accumulation or Distribution Schematic.

Happy Trading and Stay Awesome!

David
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2-Hour time frame:
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I'm having my doubts about this going up to $38K range from here with an automatic rally. The Red RSI and Blue LSMA in that 2-hour time frame (top right corner) may not cooperate. We may go down again...

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I'm taking a break for a few minutes to fix some coffee. I plan on providing a video publication to point out what are we trying to accomplish when using Wyckoff Method with the indicators. I'll cover 2014 Distribution to use as an example of what we are trying to accomplish present day.

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Provided a few more details on this 2014 Distribution chart before taking a coffee break. Then I'll get back to provide an example of what we are looking for PRESENT DAY.

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BTCUSD: Do NOT Assume we Must Have an Automatic Rally Now
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BTCUSD: Casual Discussion of What we Are Looking For Present Day

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