Definitely Looking Like Wyckoff Accumulation Schematic #2
Posting chart again here to be viewed as intended. TV platform sometimes scrunches up the chart:
You can see I have the high by year end at approximately $15,000. This is subject to change some time in November as we monitor the price action with the indicators.
I thought it was time to post a new publication stating my "position" on BTCUSD from now until year end. As many of you who have followed me "know," I've been waiting for confirmation for quite a while to determine if we were going to see confirmation of Accumulation Schematic #1 or would this be an Accumulation Schematic #2. That was discussed quite a bit in the following publications, titled, "BTCUSD - Wyckoff Accumulation Schematic Waiting for Confirmation." and "Wyckoff Accumulation Schematic - Chart pasted again in comments"
Well, I feel pretty good about this being Accumulation Schematic #2 and NOT a continued drop to confirm Phase E of a Distraction Schematic. In other words, I'm saying Phase E of a Wyckoff Distribution Schematic will be "rejected" and we are more than likely in the later stage of Phase C in a Wyckoff Accumulation Schematic #2 and should see a strong Up Thrust "begin" some time between now and October 15th. It's quite possible we have one more "Last Point of Supply" dip before the strong Up Thrust "begins." Those of you in margin short positions should reconsider your current position. You're liable to get liquidated if you're not careful. As you can see, many of those short positions are already stopping their order:
IMAGE of 2-Day TF for BTCUSD BitStamp WITH Wyckoff Accumulation Schematic #2 in lower right corner: i.imgur.com/2g5ZKG5.png
Those of you who are new followers:
When looking at examples of schematics do NOT assume price action will play out EXACTLY as depicted in the images of those schematics. Those images are ONLY to provide an idea of the sequence of events to occur during these distribution schematics.
For more information about these schematics, study this link here: stockcharts.com...school/doku.php?id=chart_s...
An excellent book to gain a "modern" day knowledge of Wyckoff rules and schematics can be found here: "Trades About to Happen: A Modern Adaptation of the Wyckoff Method" www.amazon.com/...ailpage_o01_s00?ie=UTF8&am...
An excellent video to start with on teachings for Wyckoff by David H. Weis can be found here: "David Weis on Wyckoff, Support/Resistance , and Waves" - www.youtube.com/watch?v=uzISUr1i...
Books by Wyckoff can be found here. However, make sure to scroll down till you see the name, Richard Wyckoff. MANY other books on trading can be found here as well. Excellent source of trading material FREE online: www.traders-software.com/Trading Books/
Information on HOW to use Godmode Indicator can be found in the two following publications:
You can see I have the high by year end at approximately $15,000. This is subject to change some time in November as we monitor the price action with the indicators.
I thought it was time to post a new publication stating my "position" on BTCUSD from now until year end. As many of you who have followed me "know," I've been waiting for confirmation for quite a while to determine if we were going to see confirmation of Accumulation Schematic #1 or would this be an Accumulation Schematic #2. That was discussed quite a bit in the following publications, titled, "BTCUSD - Wyckoff Accumulation Schematic Waiting for Confirmation." and "Wyckoff Accumulation Schematic - Chart pasted again in comments"
Well, I feel pretty good about this being Accumulation Schematic #2 and NOT a continued drop to confirm Phase E of a Distraction Schematic. In other words, I'm saying Phase E of a Wyckoff Distribution Schematic will be "rejected" and we are more than likely in the later stage of Phase C in a Wyckoff Accumulation Schematic #2 and should see a strong Up Thrust "begin" some time between now and October 15th. It's quite possible we have one more "Last Point of Supply" dip before the strong Up Thrust "begins." Those of you in margin short positions should reconsider your current position. You're liable to get liquidated if you're not careful. As you can see, many of those short positions are already stopping their order:
IMAGE of 2-Day TF for BTCUSD BitStamp WITH Wyckoff Accumulation Schematic #2 in lower right corner: i.imgur.com/2g5ZKG5.png
Those of you who are new followers:
When looking at examples of schematics do NOT assume price action will play out EXACTLY as depicted in the images of those schematics. Those images are ONLY to provide an idea of the sequence of events to occur during these distribution schematics.
For more information about these schematics, study this link here: stockcharts.com...school/doku.php?id=chart_s...
An excellent book to gain a "modern" day knowledge of Wyckoff rules and schematics can be found here: "Trades About to Happen: A Modern Adaptation of the Wyckoff Method" www.amazon.com/...ailpage_o01_s00?ie=UTF8&am...
An excellent video to start with on teachings for Wyckoff by David H. Weis can be found here: "David Weis on Wyckoff, Support/Resistance , and Waves" - www.youtube.com/watch?v=uzISUr1i...
Books by Wyckoff can be found here. However, make sure to scroll down till you see the name, Richard Wyckoff. MANY other books on trading can be found here as well. Excellent source of trading material FREE online: www.traders-software.com/Trading Books/
Information on HOW to use Godmode Indicator can be found in the two following publications:
Comment:
Another view of BTCUSD Accumulation Schematic "without" indicators:
Comment:
The 6h (360m) TF looks like we have one to four more 6h candles after the current 6h candle before a "chance" of reversal to upside pressure.
Comment:
I'm not sure if everyone has been keeping up with what's been going on lately with Block One, BitFinex and Tether investigations from the SEC and CFTC in the United States? We are also seeing the potential for the bank that holds the funds for Tether going under this week. This represents a VERY HIGH POTENTIAL FOR HIGH VOLATILITY THIS WEEK.
This will be very interesting indeed to see how the cryptos are affected; how exchanges that use Tether are affected, etc... This is one reason WHY I mentioned in my DJI Average Publication that I made entry at a low enough price that makes me happy and TOOK ALL MY CRYPTO OUT OF EXCHANGES.
IT'S GETTING TOO RISKY TO KEEP YOUR CRYPTOS ON EXCHANGES THAT USE TETHER AT THE MOMENT. I "recommend" everyone take their cryptos off exchanges that use Tether as soon as possible as a precaution. That's my opinion of course.
This will be very interesting indeed to see how the cryptos are affected; how exchanges that use Tether are affected, etc... This is one reason WHY I mentioned in my DJI Average Publication that I made entry at a low enough price that makes me happy and TOOK ALL MY CRYPTO OUT OF EXCHANGES.
IT'S GETTING TOO RISKY TO KEEP YOUR CRYPTOS ON EXCHANGES THAT USE TETHER AT THE MOMENT. I "recommend" everyone take their cryptos off exchanges that use Tether as soon as possible as a precaution. That's my opinion of course.
Comment:
Daily (1440m/24h) TF:
Comment:
It's looking like somewhere between October 15th and 31st for the beginning of a bull run to mark the beginning of Phase D in this Wyckoff Accumulation Schematic #2. Don't be surprised to see a drop (to act as a shakeout of sorts) before the bull run begins.
Daily (1440m) TF:
6h (360m) TF:
Daily (1440m) TF:
6h (360m) TF:
Comment:
As anticipated, we're "not surprised" by this dip to act as a "shakeout of sorts" before the BEGINNING of a bull run. This dip was somewhat predictable based on what was seen in the 360m (6h) TF 22 hours ago. I'm including the 6h TF chart below to show the possible future trek of the Blue LSMA within Godmode 3.1 Mod with LSMA indicator.
Comment:
This crap going on at the moment with BitFinex has me concerned. It appears BitFinex will not accept DEPOSITS for up to a week. Could be longer...
There are rumors of BitFinex having transferred their FIAT to HSBC Bank using a different name with an address of a volleyball court in California AND HSBC Bank found out and apparently decided to cease and desist any business with them. Now, BitFinex is trying to find another bank to setup an account... MAYBE... Who knows...
So, either this is an elaborate scheme to spread FUD with news to manipulate markets or the rumors/news is legit. Too hard to say.
The 3-Day TF shows mixed signals but is leaning more bearish than bullish at the moment. Remember, I've mentioned before their is a chance for reversal between October 15th and November 1st. It's till possible for October 15th. However, with this recent BitFinex news, I'm beginning to wonder if it will not be until November 1st. I'm also wondering if the market will have a significant dip down to around the $5,300 range to do some serious shaking out.
Here's the 3-Day TF:
There are rumors of BitFinex having transferred their FIAT to HSBC Bank using a different name with an address of a volleyball court in California AND HSBC Bank found out and apparently decided to cease and desist any business with them. Now, BitFinex is trying to find another bank to setup an account... MAYBE... Who knows...
So, either this is an elaborate scheme to spread FUD with news to manipulate markets or the rumors/news is legit. Too hard to say.
The 3-Day TF shows mixed signals but is leaning more bearish than bullish at the moment. Remember, I've mentioned before their is a chance for reversal between October 15th and November 1st. It's till possible for October 15th. However, with this recent BitFinex news, I'm beginning to wonder if it will not be until November 1st. I'm also wondering if the market will have a significant dip down to around the $5,300 range to do some serious shaking out.
Here's the 3-Day TF:
Comment:
There is still hope for reversal on October 15th or there about, when looking at this 12h (720m) TF. I just want to emphasize to be careful based on the news we're currently hearing about BitFinex and Tether.
Comment:
The purpose of this update is to discuss a scenario of price action to $250,000 by July 15, 2019 as provided by MasterLuc. He is known by the name, "MasterLuc" on bitcoin talk. Here is his publication posted on September 28th (below):
Here is my response and I welcome others who may want to discuss this scenario in comments section below:
Sure, it's possible to reach $250,000 by July 15, 2019. However, the motivation for that coming to pass must involve a complete total decimation of FIAT and stock markets around the world .
]
Image of Wyckoff Distribution Schematic #1: i.imgur.com/nOJl0Dd.png
Do "NOT" assume the price action in the Dow Jones Industrial Average chart (below) "must" play out "exactly" as the Wyckoff Distribution Schematic I provided as an example (provided in image link above). It's "only" an example... I also explain WHY the first Up Thrust After Distribution (UTAD) was REJECTED and resulted in a continued Up Thrust while the Deep State Bankers regrouped to determine another plan of action and how they would attempt to "Control the Narrative" for the next collapse.
If the price of Bitcoin went to $250,000, that would put the market cap of Bitcoin by itself at approximately $4.5 TRILLION US dollars. This does not include the market cap of Alt Coins. This would imply that $4.5 Trillion had the opportunity to transfer over to exchanges to bring liquidity to those exchanges. Such a move of liquidity would more than likely be achieved by governments for the most part in my opinion.
This move of over $4 Trillion in FIAT to exchanges would also need to be done BEFORE stock markets tank by at least 50 to 70 percent. When the stock markets tank by this significant of a drop, it's HIGHLY LIKELY the financials (banks) will have gone under. I suspect THEY (banks) would have been the ones to have created digital FIAT out of thin air to transfer over to many crypto exchanges across the world via their SWIFT network. However, the citizenry would not be able to transfer their FIAT to crypto exchanges AFTER a collapse of the financials (banks). The citizenry would be left holding an empty bag.
The scenario (above) has been a fear of mine the past couple of years. We have the financial collapse of Greece to look back on as a perfect example of what I'm referring to. I've often wondered how a GLOBAL collapse would affect the price of crypto currencies. Only early adopters of crypto would be able to benefit from such a global scenario.
We have rough times ahead in regards to stock markets crashing, banks closing and governments defaulting on their treasury bonds. I see a total ruin resulting in a RESET of the global FIAT system. I also see those currently in power (banks) not taking chances and positioning themselves to benefit from this circumstance by transferring capital to obtain HARD ASSETS such as physical precious metals, land, real estate and crypto currencies.
If crypto currencies go up as much as MasterLuc has depicted in that short period of a time, we can conclude most of the crypto currencies purchased during this time were purchased by bankers and governments. Also, "IF" banks have closed (collapsed), who would want FIAT currency? Which means, who would want to sale their crypto for FIAT on crypto exchanges? Those who do sale are making a bad decision. It would be best to HODL during this period if one is not equipped with proper indicators and experience to use those indicators to take advantage of the dips on the way up to $250,000.
Here is my response and I welcome others who may want to discuss this scenario in comments section below:
Sure, it's possible to reach $250,000 by July 15, 2019. However, the motivation for that coming to pass must involve a complete total decimation of FIAT and stock markets around the world .
Image of Wyckoff Distribution Schematic #1: i.imgur.com/nOJl0Dd.png
Do "NOT" assume the price action in the Dow Jones Industrial Average chart (below) "must" play out "exactly" as the Wyckoff Distribution Schematic I provided as an example (provided in image link above). It's "only" an example... I also explain WHY the first Up Thrust After Distribution (UTAD) was REJECTED and resulted in a continued Up Thrust while the Deep State Bankers regrouped to determine another plan of action and how they would attempt to "Control the Narrative" for the next collapse.
If the price of Bitcoin went to $250,000, that would put the market cap of Bitcoin by itself at approximately $4.5 TRILLION US dollars. This does not include the market cap of Alt Coins. This would imply that $4.5 Trillion had the opportunity to transfer over to exchanges to bring liquidity to those exchanges. Such a move of liquidity would more than likely be achieved by governments for the most part in my opinion.
This move of over $4 Trillion in FIAT to exchanges would also need to be done BEFORE stock markets tank by at least 50 to 70 percent. When the stock markets tank by this significant of a drop, it's HIGHLY LIKELY the financials (banks) will have gone under. I suspect THEY (banks) would have been the ones to have created digital FIAT out of thin air to transfer over to many crypto exchanges across the world via their SWIFT network. However, the citizenry would not be able to transfer their FIAT to crypto exchanges AFTER a collapse of the financials (banks). The citizenry would be left holding an empty bag.
The scenario (above) has been a fear of mine the past couple of years. We have the financial collapse of Greece to look back on as a perfect example of what I'm referring to. I've often wondered how a GLOBAL collapse would affect the price of crypto currencies. Only early adopters of crypto would be able to benefit from such a global scenario.
We have rough times ahead in regards to stock markets crashing, banks closing and governments defaulting on their treasury bonds. I see a total ruin resulting in a RESET of the global FIAT system. I also see those currently in power (banks) not taking chances and positioning themselves to benefit from this circumstance by transferring capital to obtain HARD ASSETS such as physical precious metals, land, real estate and crypto currencies.
If crypto currencies go up as much as MasterLuc has depicted in that short period of a time, we can conclude most of the crypto currencies purchased during this time were purchased by bankers and governments. Also, "IF" banks have closed (collapsed), who would want FIAT currency? Which means, who would want to sale their crypto for FIAT on crypto exchanges? Those who do sale are making a bad decision. It would be best to HODL during this period if one is not equipped with proper indicators and experience to use those indicators to take advantage of the dips on the way up to $250,000.
Comment:
Also, if you think about it, banks would need to transfer their FIAT to crypto exchanges BEFORE such a collapse to purchase cryptos.
Why?
Banks collapsing (going under) could disrupt trading on crypto exchanges because it would be as though the crypto exchanges were just hacked for millions of their holdings. However, those holdings just happened to be FIAT held within banks they do business with on behalf of their customers (traders) when customers transfer/wire FIAT to the exchanges.
So, if banks are going to pull this off, they would have to REALLY think this through and do it in a well orchestrated manner that avoids doing damage to their own crypto holdings they plan to accumulate.
Why?
Banks collapsing (going under) could disrupt trading on crypto exchanges because it would be as though the crypto exchanges were just hacked for millions of their holdings. However, those holdings just happened to be FIAT held within banks they do business with on behalf of their customers (traders) when customers transfer/wire FIAT to the exchanges.
So, if banks are going to pull this off, they would have to REALLY think this through and do it in a well orchestrated manner that avoids doing damage to their own crypto holdings they plan to accumulate.
Comment:
Here's an article to support the potential scenario I explained above: bitcoinist.com/insti...-economic-recession/
Comment:
It's beginning to look more like we may not see a significant move to the upside until on or around November 1st when looking at the 2-Day TF. You will see within Godmode indicator how I drew the POTENTIAL future trek of the Green Line, Red Relative Strength Index and Blue Least Square Moving Average (LSMA). You will also see the Purple Vertical Time Line I've placed on the November 1st time line.
Comment:
Still looks like we have a good chance of a significant uptrend beginning between now and November 1st when looking at the Daily Time Frame.
The Daily (1440m) TF "without" indicators:
The Daily (1440m) "with" indicators:
The Daily (1440m) TF "without" indicators:
The Daily (1440m) "with" indicators:
Comment:
I posted this 21-Day (3-Week) chart in the comments section of my most recent XMRUSDT publication. I posted them in a discussion with another member. Those other time frames were the 2-Week and the 1-Month TF.
I must say, if we don't see a significant move on or around November 1st, it's likely we will not see a significant move to the upside until January, 2019.
It's my "opinion" we will see the stock markets around the world continue to go down while the price of precious metals and crypto increase in value.
Here's the 21-Day (3-Week) TF:
I must say, if we don't see a significant move on or around November 1st, it's likely we will not see a significant move to the upside until January, 2019.
It's my "opinion" we will see the stock markets around the world continue to go down while the price of precious metals and crypto increase in value.
Here's the 21-Day (3-Week) TF:
Comment:
Below is the 1-Month TF: When you look at the current level of the Blue LSMA in Godmode and the current level of the Phoenix ARI, it raises cause for concern as to the probability of a significant upside move on or around November 1st. If we do not see a significant move to the upside on or around November 1st, it's likely we will not see a significant upside move until January, 2019.
So, we kind of have a lot riding on what the Blue LSMA and Phoenix ARI is telling us in the 21-Day TF and lower TF's in regards to the "potential" for an upside move on or around November 1st, 2018.
So, we kind of have a lot riding on what the Blue LSMA and Phoenix ARI is telling us in the 21-Day TF and lower TF's in regards to the "potential" for an upside move on or around November 1st, 2018.
Comment:
According to the 240m (4h) TF, it looks like bottom is fast approaching. We may have one more dip after the current one before seeing reversal in the bag and bull run officially underway according to higher TF's than the 240m (4h).
