WyckoffMode

BTC: Possible We Have to Wait Till 3 Day Beginning November 27th

WyckoffMode Premium Updated   
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! The Blue Line in Phoenix Ascending is an LSMA (Least Squared Moving Average). The Blue Line in the 3-Day may not go below White Level 30 the NEXT 3-Day candle; which begins in approximately 13 hours. We may have to wait until the 3-Day candle that begins November 27, 2022 before the Blue Line has a better chance of falling below White Level 30 to promote Stage 2 Expansion Down in order to get another leg down.

Is it possible the Composite Groups (Market Makers) may wait until AFTER Thanksgiving before potentially pushing us another leg down? Yes, I can see that as being a good possibility. Why? The Composite Groups may hope retail traders talk with their relatives this Thanksgiving Day holiday and convince each other the bottom is in and it is time to buy. What better way to try to convince retail traders of this by pushing the price up the way they are currently before Thanksgiving? THEN, after the Thanksgiving Day holiday, the Composite Groups push the price action down with another leg down again. Why? To shake out retail traders who bought during and the day after Thanksgiving with a big push down.

If you begin accumulating Bitcoin now, I assume you are doing so because you believe in DE-Centralized Cryptocurrencies the way I do. Over the long haul, Bitcoin will eventually confirm we have begun a new Wyckoff Accumulation Cycle. So, if you do buy some bitcoin , don't allow the Composite Groups to scare you (shake you out). Be prepared to buy more and IMMEDIATELY TAKE THEM OFF EXCHANGE and put them in a hardware wallet for safe cold storage.

BOTTOM LINE: We require more time to pass in several time frames in the Near Term and Mid Term Groups of time frames before we can finally get some confirmation we may be in a new Accumulation Cycle. Let's wait till the next 24-hour, and 3-Day time frames to see what the indicators look like. I would also like to see what the next 2-Day candle looks like. However, we have to wait another 1.5 Days before we begin a new 2-Day candle to get a better idea if we may be in accumulation. But like I said, it is very possible the Composite Groups may wait until the 3-Day candle that begins on November 27, 2022 before pushing another leg down if their intent is to push us another leg down again.

DCG and their subsidiary, Genesis, may have bad news coming out AFTER the Thanksgiving Day holiday; which could be the so-called "cause" of the market going down again. When in reality, the Composite Groups had plans to push it down again regardless.

Here is the 3-Day time frame pointing out where we are "IF" we are in Accumulation:

Here is the 12-hour time frame:

RED TEXT BUBBLE in 12-hour:

Red Line currently at level 20.7.

DO NOT FORGET: If the Red Line is NOT above Yellow Level 50 by the time the White Energy begins falling,
the price action WILL begin falling. The Red Line has quite a ways to go before rising
above Yellow Level 50. Look how high the White Energy is already in this 12-hour TF.
The White Energy may exhaust soon BEFORE the Red Line can make it above Yellow Level
50; resulting in the price action coming back down again.

Here is the 8-Day time frame:

RED TEXT BUBBLE in 8-Day:

BOTH the Red and Blue Lines in this 8-Day time frame are subject to fall below White Level 30
the next 8-Day candle; which begins in 1-Day and 12-hours. This means we have increased odds
for price action to begin falling with Stage 2 Expansion of the B-Bands in this 8-Day time frame.
Meaning, some time during the next 8-Day candle; we may have increased odds for Stage 2
Expansion and price action falling DOWN with this expansion.

BOTTOM LINE:

We cannot assume we have already seen bottom and we are in accumulation until we begin to see the Red Line rise and close ABOVE Yellow Level 50 in the 12-hour, 24-hour and 2-Day time frames. Why? Because we REQUIRE the Red Line CLOSING above Yellow Level 50 to help upward pressure continue even when the White Energy is falling in order to see a Simple Rally up to or near the lower boundary of Preliminary Support Range (Near $25,401) "IF" we just so happen to be in Accumulation.

If we are in Accumulation, the NEXT EVENT would be a Simple Rally in Phase B; which would require a move up to or near the lower boundary of Preliminary Support at $25,401. We simply do not see the Red Line above Level 50 in the 12-hour, 24-hour, 2-Day and 3-Day time frames to justify the price action going up to or near the lower boundary of a "presumed" preliminary support range at $25,401.
Comment: UPDATE:

I'm about to head off to bed before spending time with family tomorrow. Before I do, I wanted to point out several things with BTCUSD:

wyckoffmode.com - Wyckoff Method 2.0

wyckoffmode.com - Scalping

wyckoffmode.com - Swing Trading

wyckoffmode.com - Money Management

wyckoffmode.com - Risk Management

wyckoffmode.com - Understanding Phoenix Ascending & Bad Ass B-Bands
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