BTC: $18580 Resistance Based on 3 Week Time Frame
Hi Everyone! We still have a lot of work to do in the 3-Week time frame to justify going up from the white lower b-band at $18,580. < See 3-Week Chart Below > We still have a lot of work to do in the 16-Day time frame to justify going up from the white lower b-band at $17,570. < See 16-Day Chart Below >
3-Week time frame:
16-Day time frame:
12-hour would have been the time frame used to close a long "swing" position. 6-hour time frame would have been used to close a high time frame scalp long position. Not getting into what time frames used to open positions; how I would know what time frame(s) to use to open and/or close a position; what conditions do I need to see to open those positions; etc.
Could we be in accumulation and ranging sideways with a ceiling of resistance for this "range" being $17,570 to $18,580? Could the lower boundary of that range be $15,479 to $16,350? Sure, it's possible. This is why we want to see if $15,479 can hold. If we end up falling below $15,479, then the odds are quite high of that being the beginning of a Second Sign of Weakness in Phase E of Distribution. If $15,479 can hold, then there is a chance we may not be in Distribution but actually in accumulation. Use August to October of 2014 as an example of sideways before falling down again with another Sign of Weakness in Phase E. We should learn from that example and be careful not to make a flat statement one way or the other (accumulation or distribution).
Will I be providing scalping signals of these small waves up and down we are seeing at present? No... My only aim here on TradingView is providing education here and there along with my opinion of what we need to see to convince us if we are potentially in accumulation or distribution for mid to long term analysis. I'm not providing short term analysis. Yes, I may touch upon Near Term Analysis and point out a few things here and there of what we need to see in the Near Term Group of time frames if using them to Swing Trade. So, basically just look at my analysis here on TradingView as my opinion for the investor.
As an investor, you should still be cautious and control your emotions. Be patient... Don't allow fear of missing out make you too anxious and end up using all your capital to accumulate prematurely. The indicators help us measure the odds a little better < AS AN INVESTOR > as to WHEN would be a good time to invest more of our capital because the odds are more in our favor of price action going up from the White Lower B-Band, etc. Yes, we can divide our capital up into at least 8 to 10 equal parts and use those "equal parts" here and there to dollar cost average into the market. But be mindful of the level of your Red Line in Phoenix Ascending in MULTIPLE time frames to realize what price point could be acting as resistance at any given time. Use that info to aid in CONTROLLING emotions.
I hope this was helpful.
Happy Trading and Stay Awesome!
David
3-Week time frame:
16-Day time frame:
12-hour would have been the time frame used to close a long "swing" position. 6-hour time frame would have been used to close a high time frame scalp long position. Not getting into what time frames used to open positions; how I would know what time frame(s) to use to open and/or close a position; what conditions do I need to see to open those positions; etc.
Could we be in accumulation and ranging sideways with a ceiling of resistance for this "range" being $17,570 to $18,580? Could the lower boundary of that range be $15,479 to $16,350? Sure, it's possible. This is why we want to see if $15,479 can hold. If we end up falling below $15,479, then the odds are quite high of that being the beginning of a Second Sign of Weakness in Phase E of Distribution. If $15,479 can hold, then there is a chance we may not be in Distribution but actually in accumulation. Use August to October of 2014 as an example of sideways before falling down again with another Sign of Weakness in Phase E. We should learn from that example and be careful not to make a flat statement one way or the other (accumulation or distribution).
Will I be providing scalping signals of these small waves up and down we are seeing at present? No... My only aim here on TradingView is providing education here and there along with my opinion of what we need to see to convince us if we are potentially in accumulation or distribution for mid to long term analysis. I'm not providing short term analysis. Yes, I may touch upon Near Term Analysis and point out a few things here and there of what we need to see in the Near Term Group of time frames if using them to Swing Trade. So, basically just look at my analysis here on TradingView as my opinion for the investor.
As an investor, you should still be cautious and control your emotions. Be patient... Don't allow fear of missing out make you too anxious and end up using all your capital to accumulate prematurely. The indicators help us measure the odds a little better < AS AN INVESTOR > as to WHEN would be a good time to invest more of our capital because the odds are more in our favor of price action going up from the White Lower B-Band, etc. Yes, we can divide our capital up into at least 8 to 10 equal parts and use those "equal parts" here and there to dollar cost average into the market. But be mindful of the level of your Red Line in Phoenix Ascending in MULTIPLE time frames to realize what price point could be acting as resistance at any given time. Use that info to aid in CONTROLLING emotions.
I hope this was helpful.
Happy Trading and Stay Awesome!
David
2021/2022 Distribution:
12-hour time frame; watching for POTENTIAL Accumulation: