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PawelHodurek
May 8, 2020 2:35 PM

BTC/USD - Euphoria with overheatted oscillators Short

Bitcoin / U.S. dollarBitstamp

Description

Hello Everyone,

We see the news with "moonshining price of Bitcoin" - true wave of euphoria... Despite ones today's candle is little black (red) at the moment - keep in mind... ;-)

Some indicators at dayly candles are totally overheatted (exactly - were yesterday). Yesterday's RSI was over 80 while is over 70 for 7 days - keep in mind... ;-)

At Sunday we will formate the 8th white (green) weekly candle in series. There were some 8 ones in series few times but never 9 - keep in mind... ;-)

The halving seems to be on Monday and the prise stared to rise not so quickly afetr the previous halvings - directly after usually dropped - keep also in mind... ;-)

Best wishes...
Paweł

Comment

Hello one more time...
I seems that we will hahe a pull back.

I just found an article about Wyckoff price cycle
school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method
Fo someones of you the presented theses are obvious, however, we often forgot to implement "obviuosnesses" in our decisions...

Wish you a great weekend,
Paweł

Comment

[img]school.stockcharts.com/lib/exe/fetch.php?media=market_analysis:the_wyckoff_method:wyckoffdistribution1.png[/img]

Please, see the Wyckof distribution pattern.

I expect not full scheme 1, as from UTAD we have possibility to break-up. In my opinion we are at (ot just after) the BC stage.
Comments
Darkside999
Im glad moonboys are euphoric..hehe
moontime1
downward targets?
PawelHodurek
@MoonTime, Have no completely idea... Maybe 8800-9100 region or 8420-8650, or 7850-8200... One of these three regions...
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