WyckoffMode

BTCUSD: Trading Range Still $40K to $44K and Can Go Lower

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! The Red RSI in the "current" 6-hour candle is below Level 50. When this "current" 6-hour candle "closes," it will "trigger" downward pressure. That lasts for how long? Till the White Energy comes back up to Level 50. Will the White Energy in the 6-hour come "UP" to "close" ABOVE Level 50 before the Red RSI in the 12-hour time frame comes "DOWN" to "close" BELOW Level 50? In other words, will the Red RSI in the 12-hour trigger downward pressure before the 6-hour White Energy can create cause for upward pressure? Have a look to see if your Red RSI and Blue LSMA are "both" ABOVE -or- BELOW Level 50 in time frames lower than the 6-hour time frame. Such as the 4-hour, 3-hour, 2-hour, 90-minute, etc...

The current levels of the Red RSI and Blue LSMA in the 2-Day and 3-Day time frames suggest the White Lower B-Band in the 2-Day and 3-Day time frames are continuing to ACT as RESISTANCE; which is around $44,000. We also know we still have downward pressure races on-going in the Mid Term Group against time frames in our Long Term Group of time frames.

Mid Term Group of time frames (4-Day, 8-Day, 9-Day, 10-Day, 11-Day, 12-Day, 13-Day and 2-Week):

Long Term Group of time frames (8-Day, 15-Day, 16-Day, 17-Day, 18-Day, 19-Day, 20-Day and 3-Week):

Near Term Group of time frames (12-Hour, 24-Hour, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week):

Short Term Group of time frames (30-min. 60-min. 90-min. 2-Hour, 3-Hour, 4-Hour, 6-Hour and 8-Hour):

Immediate Group of time frames (5-sec. 15-sec. 30-sec. 1-min. 2-min. 4-min. 8-min. and 16-min.

Diagonal Trend Line Chart using 3-Day Time Frame:
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Wyckoff Method 2.0 Schematic:
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