WyckoffMode
Long

This Healthy Rise Continues AT LEAST Till January 15 to 17, 2020

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! Following up with a quick update using the 2-Day TF. The highlighted Green Box identifies the price range we anticipate reaching before a brief consolidation event occurs. As mentioned in previous publication, "I would prefer we make it to $9,948.98 to feel more comfortable about this upward pressure marking the beginning of a long term bull trend." I'm including a copy of the 2-Day TF again (below) in case TradingView's platform scrunches up the cover chart.

Jan 14
Comment: Daily (24h) Time Frame: If you haven't already, you may want to watch the 13 minute video titled, "Upward Pressure Continues AT LEAST Until Mid January, 2020." The link is below underneath "RELATED IDEAS."
Jan 14
Comment: Weekly Time Frame:

2-Week Time Frame:
Jan 14
Comment: Another look at the Weekly with additional text bubbles:
Hi thanks for update David. If new daily candle opens above top of long-term descending channel is that also a good bullish indication that we may be leaving this downtrend?
SA ')
+1 Reply
WyckoffMode russukarian
@russukarian,

Hi Russukarian,

Is it a good sign a new daily candle opens ABOVE the upper boundary of our descending channel? Sure... However, I'm a bit reluctant to say it indicates we may be leaving this downtrend. I would prefer we at least go up to my 0.786 FIB as pointed out in this note in the 3-Day TF:

Reply
russukarian WyckoffMode
@WyckoffMode, Thanks David. Yes agreed, I think we have all experienced false brake outs on Daily charts only to pull back again and proceed in bearish downtrend. Your 2 week chart looks promising though :)
SA!
+1 Reply
WyckoffMode russukarian
@russukarian,

Agreed... The 2-Week TF definitely looks promising. ; )

Stay Awesome!

David
Reply
Hi
What do you think the impact of Chinese new year would be on the market?
+1 Reply
WyckoffMode thickbigboss
@thickbigboss,

Hi TBB,

I have become more dependent of indicators in Technical Analysis (TA) rather than Fundamental Analysis (FA). This does not mean I ignore FA. I simply find TA to be more relevant than FA when providing trading analysis for crypto. So, my opinion provided in this publication leans more toward what I see in my TA rather than what I see in FA.
Reply
Always appreciate your commentary David!
Stay Awesome,
JK in Wisco
+1 Reply
@OC_Being,

Sure... And always appreciate your support, JK.

Stay Awesome!

David
Reply
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