BTC: Yes Upward Pressure Continues Next Several Weeks

Hi Everyone! We have a "new" 2-Week candle. The Red Line in the 2-Week is already above level 50. Which means, if the white energy is also above level 50, upward pressure should continue until the white energy comes back down to level 50. The White Energy in the 2-Week is showing no sign of coming down toward yellow level 50 anytime soon; and this 2-Week candle has just begun.

2-Week time frame:

We have 12.5 hours remaining in the current 2-Day candle. Why is this important? Well, the White Energy is approaching Yellow Level 50 and about to go ABOVE yellow level 50. The Red and Blue Lines are already above Yellow Level 50. Which means we have increased odds for EXPANSION of the B-Bands approaching. Which can push the price action UP WITH EXPANSION. Does this mean we will absolutely see this expansion up? No, it simply means we have increased odds for this to occur.

2-Day time frame:

We have a new 4-Day candle beginning in approximately 12.5 hours. Let's see if the White Energy and Green Line can turn back up the NEXT 4-Day candle.

4-Day time frame:

Don't forget the 8-Week time frame. I mentioned in a previous publication we could see "over-extension up" the next 8-Week candle; which begins 13-Days and 12.5 hours from this writing. The Yellow B-Band Basis in the 8-Week is currently at 31 ,570. This is fairly close to our 1.618 Fib Extension at 31 ,227. So, it's possible THIS current 8-Week candle might close out around the 1.618 Fib Extension and potentially over-extend up even further the NEXT 8-Week candle.

8-Week time frame:

Comment:

UPDATE:

I forgot to post the "2-Tiered Accumulation Schematic" when I first posted this publication.

Yes, it's also possible we are not in Phase B of a 2-Tiered Accumulation Schematic. Because it is possible we are in Phase E of a Descending Wedge Accumulation Schematic. However, we will not know which Accumulation Schematic we are in until late this summer most likely. We'll see...

Here is the schematic for Descending Wedge Accumulation and potentially in Phase E of this Accumulation:

Comment:

UPDATE:

I'll provide an update once we get a new Daily in approximately 1 hour and 15-minutes. However, I may wait until after one hour of price action has played out after the new daily before creating a new update.

Stay Awesome!

David

Comment:

UPDATE: This 8-Week chart was posted on April 10, 2023. I'm posting this 8-Week again to show we are in fact in the NEXT 8-Week candle mentioned in the text bubbles of the chart.