Sideways at best and more downward pressure continuing until the White Energy in the Daily comes up to make contact with the 50% level. The White Energy in the Daily TF may not make contact with the 50% level until some time between March 2nd and March 5th. We could POTENTIALLY fall as low as my PRIMARY 78.6% FIB at $7,820.37 before we see a reversal to SIGNIFICANT upward pressure.
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Here's a look at the Daily (24h) Time Frame (TF):
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Here's a look at the 2-Day Time Frame:
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BOTTOM LINE: Downward Pressure can continue to dominate between now and March 5, 2020. We have a better grasp on how long downward pressure will continue to dominate by keeping an eye on the White Energy in the Daily (24h) Time Frame.
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Here's a look at the Daily (24h) Time Frame:
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What you see in this 12-Day TF; along with other things; will be discussed later this evening in a new video publication...
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I removed that green vertical time line on the 12-Day candle of September 22, 2013 to allow you to see the shakeout we had just before going up exponentially. That is still POSSIBLE present day. We will discuss this; among other things; later this evening or in the wee hours of the morning Central (CHICAGO) Time.
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Have a look at ETHUSD 12-Day TF. I want you to see the POSSIBILITY for ETHUSD in order for you to see BTCUSD "also" has the POTENTIAL to continue upside.
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12-Day again for ETHUSD... but I removed some of the vertical time lines.
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I drew some lines in the 9-Day to so the POTENTIAL that's still there. BOTTOM LINE: We need to wait on the White Energy in the Daily to hit 50% and see what the price action does upon doing so.
Here's the 9-Day TF:
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What we have WORKING for us is the Phoenix Ari in the 12-Day and 9-Day STILL RISING... ; )
Our techniques are different but we both have the same opinion, I really don't see us going below 7500 and if we do it'll be for a short period of time
WyckoffMode
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@BitcoinBeats,
Thanks for sharing BB.
ProjectSyndicate
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this is good
phil155
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thanks for the video, great stuff as always. I think we have a good shot at the 7500/7600 area if the downward slide continues before potentially moving higher again