WyckoffMode
Long

Potential Dip to Range of $9,493 to $9,145 Then Back Up Higher!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The White Energy in the 3-Day TF is currently heading down and may have a chance of making contact with the 50% level on the 3-Day Candle Beginning February 15,2020. With that said, a dip may already be in the process. We just haven't seen it get riled up just yet. It's still POSSIBLE my PRIMARY 1.00 FIB at $9,948.98 holds and we go sideways during this period of downward pressure instead of to my Secondary 0.786 or Secondary 0.618 FIB on the Re-Trace. If that were to occur, it would mean the period of downward pressure acted more as a TIME correction rather than a price correction. In any case, I'm still seeing a continuance of upward pressure in the higher time frames (6-Day, 9-Day & 12-Day) AFTER this brief period of downward pressure we see in the lower time frames (2-Day and 3-Day).

I'M LABELING THIS A "LONG" POSITION FOR THE "LONG TERM" EVEN THOUGH WE ARE HAVING A BRIEF PERIOD OF DOWNWARD PRESSURE LIKELY TO ENSUE. BE PREPARED TO BUY THIS POTENTIAL DIP IF YOU HAVE NOT DONE SO ALREADY. THIS IS MY OPINION OF COURSE.

Happy Trading and Stay Awesome!

David

Feb 13
Comment: A closer view:

Feb 14
Comment:
Feb 14
Comment: Reminder of the 12-Day TF estimations using the indicators. Dates on the Yellow (Buy) and Red (Sell) Vertical Time Lines are "tentative" (estimated) and subject to change as we watch the indicators approaching those respective dates.

Feb 14
Comment: "Continuation of My FIB Study for Bitcoin Using 61.8 as High Coordinate Instead of 100.0"

Comments

Thank you for the update. I thought the same, we are just one $200 dump away for the 3D white energy to reach 50 level tomorrow and from there on, a downward episode could begin and never look back for short term traders at a wrong position.

Alternatively, we are also one surprise pump above 10500 to tilt the white energy on both 2D and 3D upwards again and from there, we have plenty of room for upward pressure until 5D comes down to 50 level. As has been usual since Jan 1, high-volume pumps spontaneously come out of absolutely nowhere.

All I am pointing out is the vicissitude of price action and the difficulty of forecasting future movement. I believe it is better to understand this part about the indicators and the price that it purportedly indicates, before narrowing down to grasping with higher lucidity and thus higher precision future price movement.
+3 Reply
@Popovich,

I agree with everything you said. Everything... Which is one reason why I chose my words carefully... The word, "POTENTIAL..." I'm very aware of that possibility with a pump out of nowhere due to what we are seeing in the higher time frames. However, I still believe the chance of a dip has increased. Yet, I don't see a dip lasting very long at all and likely will not go very deep at all.

Good to see you're catching on. ; )
+5 Reply
Thanks so much David for the update. Peace! Happy trading!
Cheers Dan and Leanne
+1 Reply
WyckoffMode dbakkerdesign
@dbakkerdesign,

Hi Dan and Leanne,

Thanks for dropping by and your continued support!

Cheers ; )

David
Reply
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