BTCUSD: Potential $50K to $53K in Play Soon it Appears

Hi Everyone! Appears upward pressure still has control when looking at the White Energy in the 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and Weekly time frames. However, the B-Bands are still contracting at the moment in the Weekly. Which is why I believe $50K to $53K may be the ceiling for this current push up to allow time for the Blue LSMA to get above 50 before attempting expansion of the B-Bands in the Weekly and going up even higher in the Weekly. Is that what we will do? Go up even higher with expansion? Well, that remains to be seen. Let's see what our Blue LSMA does the next couple of Weekly candles.

Happy Trading and Stay Awesome!

David

PS - Set your notifications to get notified when my "status" changes.

Comment:

UPDATE:

Simply posting this Wyckoff Distribution Schematic and what may potentially be Accumulation. Let's see if we can get up to around $50,499.94 at a minimum for a good beginning to a "Sign of Strength" event. Would we prefer it go higher to provide a buffer on a pullback to the upper boundary of the previous "Preliminary Support Range."

Pulled Back View of 12-Hour Schematics: