ProwdClown
Short

BTCUSD Stamp - Two Possibilities of where it's going down to

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Pasted below for easier viewing and reading.

Created a new chart. The old one was getting too populated with updates to scroll through.

Comment: Even though you may see it coming up in the lower TF's, DO NOT ASSUME we have found bottom, because we haven't. WE STILL have substantial downward pressure in the Daily (1440m) TF .

The 360m TF indicates we still have downward pressure.

Yes, we may come up a bit. However, I honestly believe it's just another pause to allow the buy order books to fill to their liking before dumping it down once again.

Comment: Bitcoin/US dollar is about to drop soon. How much is uncertain... Maybe mid to upper $14k.

Comment: I'm thinking 6 to 9 hours from now for a drop.
Comment: Thought I would post the 60m, 120m and 240m TF's to let you see how obvious it is we "should" drop soon.

Comment: The only reason this is going up at the moment is due to people buying bitcoin for the upcoming snapshot for a fork in a couple of hours.
Comment: The 360m looks like the better predictor of "longer term moves."

Comment:
Comment:
Comment: BTCUSD 30m, 60m & 120m:

Looks like we should be going up between now and the next 2 hours:
Comment: Don't panic, will be going up shortly:

Comment: The Stochastic RSI/Phoenix ARI 1.01 merged together at the bottom of each TF (30m, 60m & 120m) look like it's getting ready to go up now.

Comment: When looking at the 360m, we may have potential for a "W" formation as well before REALLY going upside.

This appears to be our last shakeout of weak hands before moving upside STRONG.

120m, 240m, 360m
Comment: IMPORTANT UPDATE:

IT IS "POSSIBLE" WE CONTINUE DOWN ONE MORE TIME CLOSE TO $12,500 OR $12,600 BASED ON WHAT I'M SEEING IN THE 360M. SO, BE READY FOR ENTRY.

Comment: This is what the Composite Group(s) may have had in mind . However, they might change their mind and go up from here. They can choose either or.

Comment: maybe they decided this now:
Comment: This is a prime example of what I mean when I've said in the past to divide what you're willing to risk into a pair into 3rd's:

For example: If you had $9,000 you were willing to invest: Each 3rd = $3,000

Comment: If one of the 3rd's is not used, save it for a future dip.
Comment: THE MORE I LOOK AT THIS AND WHAT THE COMPOSITE GROUP(S) MAY HAVE PLANNED; THIS MIGHT BE A SLOW BLEED DOWN TO MY ORIGINAL 0.618 FIB AT $10,500. SO, CHANGE PLANS ON YOUR 3rd BETS.

Comment: That's the Daily TF
Comment: More than likely a further downward move to the 0.618 FIB because of this Head & Shoulders:

Comment: Thanks for sharing @electo
Comment:
Comment: This is the last post for a while. I'm going to relax and catch up on some news.

This is a pulled back view to allow you to see previous 2 Guns Down Calculation along with current one:

Comment: January 3rd or 4th may be the Day of Reckoning:

Comment: MY OPINION:

This current move up is only an "attempt" to play on emotions to make people "think" the downward pressure is over [In order to encourage traders to fill the "BUY" order books to their liking before dumping us down once again. This could very well be a "Bull Trap" in the making to dump us HARD one last time AFTER the new year is here.
Again, this is my opinion.

The 2 Day TF below is to show support for my thoughts:

Comment: I'm posting this message in a couple more of my publications than just this one. So, if you get multiple notifications, it's the same message being posted:

VERY IMPORTANT MESSAGE. PLEASE LISTEN WELL:

What the Dying Elderly told me:

https://www.youtube.com/watch?v=N1PLO3dk400
Comment: I'm still not convinced our downside pressure is over with yet. Not only by the blue LSMA on the indicators still having plenty of room to come down to 20% and lower BUT ALSO the two previous purple circles from past events you see on the chart:

Comment: We may be FINALLY making our move towards my 2 Guns Down 0.618 FIB at $10,199.19 by Jan. 13. Time will tell...

Comment: Pulled Back View without indicators:

Comment:
Comment: This is simply an updated post for my records to look back upon as a historical reference point for future TA.

2 Day TF:
Comment: 12h TF:

It's looking like we should begin to have a reversal to stronger upside pressure within 2 hours 20 minutes to 26 hours 20 minutes:

Comment: $8888.88 could be in the making:

Comment: 360m TF:

I will not be surprised to see us move up into that green channel and fall into accumulation for a bit. The gray ghost on Phx. 1.118 is very high but that does not mean the green line cannot continue upside and roll out to the right . The Stoch RSI and Phx. ARI appear to have more room for upside movement as well.

Comment: I know I've been away without posting much lately. The main reason is because I've been helping my dad build a mining room in his garage. Which see: https://imgur.com/a/2jmeT

I've been replacing R9 380's and R9 Fury's with EVGA 1080 ti and EVGA 1070 ti. I'm giving dad my R9 380's and some of my R9 Fury's. Also giving him 7 x Bitmain S7's and 1 x Bitmain S5. It's funny how the S7 and S5 are worth more now than what I paid for them back in 2015 and 2016.

I put my mining room remodel on hold while helping my dad build his mining room. It's coming along slow but sure. I'll get back to my mining room once his is completed. I am taking off from working in his mining room until Monday to finish adding EVGA 1080 ti's to my setup. I was waiting for some 1600 Watt P2 Power Supply Units to arrive before I could get started on the remaining 1080 ti's.

I don't expect to be back full time trading until another 30 to 45 days because I will also have 2017 taxes to do. All of my mining rigs are owned by my business. It's important to keep everything LEGIT with "The Man."

David
Comment: Simply a Time Line Pattern Chart:

Pulled Back View to see the pattern:


Closer View to allow you to see APPROXIMATE dates we may "potentially" begin Springs (blue) and Consolidations (red):


Magenta color arrows are SINGLE Breakouts and Blue Arrows are DOUBLE Breakouts.
Or you might say, "Magenta" is Single Gun Up and "Blue" is Double Gun Up.

All of this ASSUMES the pattern continues of course.
Comment: 4 Day TF: :

Comment: 2-Day TF:

Comment: Weekly TF:

Comment: Text bubbles speak for themselves. I'm expecting a bit of sideways action for a little while for the purpose of ACCUMULATION before it gets blatantly obvious reversal IS HERE and others begin to jump on board; causing the price to progress upside in a more vigorous manner.

Comment: 720m TF:

Comment: 720m (12h) TF Update:

Comment: Simply a look from the 360m (6h) TF:

Comment: It's still POSSIBLE we TEST the top blue support line. If so, I believe it will be THIS leg down instead of a latter one.
Comment: 360m TF Update:

Comment: I just woke up and about to get back to work in the mining room after I get something to eat. Decided to have a look at BTCUSD Bitstamp and noticed we did come down to TEST support. If there is any time worth getting into BTC it would be now IN MY OPINION...

Comment: Made adjustments after we went to top Support line to TEST Support.



I"M FOLLOWING THIS CHART WITH ANOTHER CHART SHORTLY...
Comment: I had a look at the 720m TF before going to Wyckoff. I wanted to point out something in the 720m TF that is a distinct possibility.



FOLLOWING UP WITH WYCKOFF SHORTLY.
Comment: NOTE the second dip or first TEST in PHASE "B" of Wyckoff Accumulation Schematic #2 here: https://i.imgur.com/945poSJ.png

http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method

Phase B: In Wyckoff analysis, phase B serves the function of “building a cause” for a new uptrend (See Wyckoff Law #2 – “Cause and Effect”). In phase B, institutions and large professional interests are accumulating relatively low-priced inventory in anticipation of the next markup. The process of institutional accumulation may take a long time (sometimes a year or more), and involves purchasing shares at lower prices and checking advances in price with short sales. There are usually multiple STs during Phase B, as well as upthrust-type actions at the upper end of the TR. Overall, the large interests are net buyers of shares as the TR evolves, with the goal of acquiring as much of the remaining floating supply as possible. Institutional buying and selling imparts the characteristic up-and-down price action of the trading range.

Early on in Phase B, the price swings tend to be wide, accompanied by high volume. As the professionals absorb the supply, however, the volume on downswings within the TR tends to diminish. When it appears that supply is likely to have been exhausted, the stock is ready for Phase C.

Comment: Re-Arranged the visual order of some stuff:

Comment: I made this comment to the following chart in a discussion below:

It's important to note that most all crypto currency pairs are NEVER in a constant state of distribution or constant state of accumulation. But rather, they phase in and out of accumulation and distribution. Hence, Distribution Schematics, followed by Accumulation Schematics. I did not COMPLETELY reveal that in the chart just above your comment. However, I thought that chart would enlighten enough to peek interest.

Comment: I've procrastinated on getting W-2 and W-3 along with form 940 completed and mailed in. I'm about to do that shortly after this last post THEN begin work again in the mining room.

Pointing out one last thing in regards to Wyckoff Accumulation Schematic #1/#2; Events and Phases:

"Note: Springs or shakeouts usually occur late within a TR and allow the stock’s dominant players to make a definitive test of available supply before a markup campaign unfolds. A “spring” takes price BELOW THE LOW OF A "TR" and then reverses to close within the TR; this action allows large interests to mislead the public about the future trend direction and to acquire additional shares at bargain prices. A terminal shakeout at the end of an accumulation TR is like a spring on steroids. Shakeouts may also occur once a price advance has started, with rapid downward movement intended to induce retail traders and investors in long positions to sell their shares to large operators. However, springs and terminal shakeouts are not required elements: Accumulation Schematic 1 depicts a spring, while Accumulation Schematic 2 shows a TR without a spring."



Now, I have work to do. I'll check in later this evening or tomorrow. Have a good one and Happy Trading!

David
Comment: Well, we came down BELOW the bottom support line to establish a NEW BOTTOM SUPPORT LINE at $8,820.96. I'm actually happy we came down below it. Coming down BELOW THE LOW OF A TRADING RANGE (TR) only stirs up more excitement to me. WHY do I say that? Because NOW we should see it "...then reverse to close near the top of the TR soon but WITHIN the TR; which will allow large interests to mislead the public about future direction and provide one more opportunity to acquire more coins at bargain prices WHEN they conduct a terminal shakeout at THE END of an accumulation TR.

We still have a while yet before this occurs. We're simply witnessing PROGRESS.

I made adjustment for the new established lower support line in this chart:



Made further adjustments to wedge, trading range rectangles, possible future price movement lines with arrows, etc...

Comment: Update on Dad's mining room in his garage: https://imgur.com/a/2jmeT
Comment: Not sure which 3 Drives Down pattern it is but it's either or:



With Indicators:

Comment: I'm heading off to sleep. Simply posting an update before going:

Comment: Well, looks like we came down to the Purple 3rd Drive down instead of staying at the Black 3 Drives down. I kind of thought we would come down further to my 0.38 FIB at approximately $7,500. Anyway, this SHOULD be as low as we go. Which means we SHOULD continue in ACCUMULATION for a while from here before heading upside.

Comment: 14 hours have past since my last update with at least a 720m (12h) TF chart. So, here it is:

Awesome job on your dad's mining room, coming along quite nicely Dave! Can't wait to see the finished product.
Reply
Simply excellent. I cant wait for events to take actual place and return here already to say - Big up, brother, you were so right.
Reply
As always, great explanation and use of Wycoffe. Learning Wycoffe has been awesome for me.
Reply
ProwdClown moneyideas
@moneyideas,

Thanks, Brother!!! However, I'm still learning Wyckoff just as you are, my friend. :-)

I'm simply posting history of using Wyckoff with charts to reflect back on in the future to establish a historical account of Wyckoff's schematics with crypto currencies. Especially Bitcoin... Still much to learn, Sir. Always learning... ;-)
Reply
Are you concerned with the tether news? Could throw a wrench into this plan
Reply
ProwdClown CryptoKnut
@CryptoKnut,

No sir, Not concerned at all.
Reply
Thank you for your update and details. Cheers!!
Reply
ProwdClown NDezell17
@NDezell17,

Sure, you're welcome...

Cheers!!
Reply
Found your charts a week ago. They are the first place I come to now when I want to check on BTC. Love your style!
Reply
ProwdClown adjusting1
@adjusting1,

I just posted an update ABOVE. Will follow up with another chart shortly.
Reply
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