It's POSSIBLE History MIGHT Be Made With 90-EMA in 4-Day TF.
The 80 and 90 EMA in the 4-Day TF is currently still holding. However, the indicators in the 2-Day, 24h and 12h are looking similar to our drop we had in November, 2018. I'm by no means implying we will drop in similar fashion to November/December, 2018. I'm simply saying there's a CHANCE (according to the indicators) for us to MAKE HISTORY and fall BELOW the 90-EMA in the 4-Day Time Frame during a BULL TREND.
If we do fall below the 90-EMA in the 4-Day TF, will this mean we are no longer in Phase D of an Accumulation Schematic? NO... We have two MAJOR events in Phase D of a Wyckoff Accumulation Schematic. The first being the "Sign of Strength" (SOS) and the second being the "Back-Up/Last Point of Support" (BU/LPS) or "Shakeout." It would simply mean we had a strong shakeout in Phase D before legging up once again to resistance and breakout out of resistance with a Sign of Strength.
If we do fall below the 90-EMA in the 4-Day TF, it's also POSSIBLE for us to CONTINUE IN ACCUMULATION in Phase D until the end of 2019 and NOT take it up with a Sign of Strength into Phase E until the first or second week of January, 2020. We will have to pay attention to the indicators as the last quarter of 2019 plays out.
If you bought in at $8,500 to $9,500 and did not leave 30 percent of your capital in cash (FIAT) to buy more in the event of a deeper drop, be very careful about selling in the hope of buying lower. It could drop like a falling knife while you are sleeping and you totally miss out on a lower entry. If we do fall lower, we will be back up to the $8,500 to $9,500 price range again in no time at all. I personally would be CONTENT with an entry of $8,500 to $9,500 and the ability to buy 30% more with my capital at a lower price. Especially, when considering where I feel we will be by April 2020 (6 months away).
If you are in crypto for a "quick buck" as a relatively new trader, your expectations are too high in my opinion. Yes, a quick buck can be made in margin trading. However, only 7 percent of those who margin trade are actually winners. The remaining 93 percent are losers. So, as a relatively new trader, it's best to BEGIN as an "investor" rather than a "trader." Meaning, take it slow and easy at first in order to experience EMOTIONS and learn how to deal with (handle) those emotions during market swings. ALLOW yourself to be patient without allowing emotions to dictate your trading decisions. If you are forced to WAIT a while for buying in too soon or selling too early, simply learn from it and MAINTAIN PATIENCE while also learning from your experience gained.
I'll stop babbling...
Happy Trading and Stay Awesome!
David
If we do fall below the 90-EMA in the 4-Day TF, will this mean we are no longer in Phase D of an Accumulation Schematic? NO... We have two MAJOR events in Phase D of a Wyckoff Accumulation Schematic. The first being the "Sign of Strength" (SOS) and the second being the "Back-Up/Last Point of Support" (BU/LPS) or "Shakeout." It would simply mean we had a strong shakeout in Phase D before legging up once again to resistance and breakout out of resistance with a Sign of Strength.
If we do fall below the 90-EMA in the 4-Day TF, it's also POSSIBLE for us to CONTINUE IN ACCUMULATION in Phase D until the end of 2019 and NOT take it up with a Sign of Strength into Phase E until the first or second week of January, 2020. We will have to pay attention to the indicators as the last quarter of 2019 plays out.
If you bought in at $8,500 to $9,500 and did not leave 30 percent of your capital in cash (FIAT) to buy more in the event of a deeper drop, be very careful about selling in the hope of buying lower. It could drop like a falling knife while you are sleeping and you totally miss out on a lower entry. If we do fall lower, we will be back up to the $8,500 to $9,500 price range again in no time at all. I personally would be CONTENT with an entry of $8,500 to $9,500 and the ability to buy 30% more with my capital at a lower price. Especially, when considering where I feel we will be by April 2020 (6 months away).
If you are in crypto for a "quick buck" as a relatively new trader, your expectations are too high in my opinion. Yes, a quick buck can be made in margin trading. However, only 7 percent of those who margin trade are actually winners. The remaining 93 percent are losers. So, as a relatively new trader, it's best to BEGIN as an "investor" rather than a "trader." Meaning, take it slow and easy at first in order to experience EMOTIONS and learn how to deal with (handle) those emotions during market swings. ALLOW yourself to be patient without allowing emotions to dictate your trading decisions. If you are forced to WAIT a while for buying in too soon or selling too early, simply learn from it and MAINTAIN PATIENCE while also learning from your experience gained.
I'll stop babbling...
Happy Trading and Stay Awesome!
David
Comment:
4-Day TF: NOTE the Yellow 90-EMA in this 4-Day TF is still holding. However, I'm having my doubts it will continue to hold.
Comment:
If the Yellow 90-EMA in the 4-Day TF holds, the price action could take us up to near All Time High (ATH) by year end. The Blue Lines heading up from the Yellow 90-EMA in the 4-Day TF depicts possible price range target if the 90-EMA in the 4-Day holds.
Comment:
Made a few alterations to the previous 4-Day Chart:
Comment:
It's okay if we have a candle WICK below the 90-EMA in the 4-Day TF. If we have a 4-Day Candle CLOSE below the 90-EMA in the 4-Day, then we can expect lower.
Comment:
Both "Short" and "Long" contracts on BitFinex continue to fall. However, the "Long" contracts still out-number the "Shorts" by more than double at 25,100 versus 10,700.
Comment:
If a 4-Day Candle manages NOT to CLOSE "below" the 90-EMA -AND- our current low in the 4-Day manages to remain the same at $7733.99, I have this chart on the ready to discuss several scenarios.
Comment:
A few historical markers to discuss as well once we FINALLY have reversal back to the upside.
Comment:
We have had a "Close" ABOVE the 90-EMA in the 4-Day Candle that began September 26th and ended with this new 4-Day Candle beginning September 30th. There's a "slight" chance we can manage to continue "closing" candles ABOVE the 90-EMA in the 4-Day TF before FINALLY seeing a significant reversal to the upside. However, all of us will have to go through a lot of anxiety until around mid October as we watch the "closing" of each 4-Day candle up until that time. lol
It's POSSIBLE we could see a 4-Day Candle WICK down to $7,346.55 or lower and the body of that 4-Day Candle still CLOSE above the 90-EMA. If that ends up being the case, we still have a CHANCE of being close to ATH by year end. If we end up closing BELOW the 90-EMA, that's a signal we may likely go further down into the $6K's. This would also mean we do not stand a chance of testing ATH until the Spring of 2020 (Just before the Bitcoin Block Halving in May, 2020).
I'm not convinced yet that we will continue to CLOSE 4-Day Candles ABOVE the Yellow 90-EMA. Time will tell...
I'll probably provide another video publication for BTCUSD later tonight or tomorrow.
Stay Awesome!
It's POSSIBLE we could see a 4-Day Candle WICK down to $7,346.55 or lower and the body of that 4-Day Candle still CLOSE above the 90-EMA. If that ends up being the case, we still have a CHANCE of being close to ATH by year end. If we end up closing BELOW the 90-EMA, that's a signal we may likely go further down into the $6K's. This would also mean we do not stand a chance of testing ATH until the Spring of 2020 (Just before the Bitcoin Block Halving in May, 2020).
I'm not convinced yet that we will continue to CLOSE 4-Day Candles ABOVE the Yellow 90-EMA. Time will tell...
I'll probably provide another video publication for BTCUSD later tonight or tomorrow.
Stay Awesome!
Comment:
$8,560 to $8,890 price range may be possible on this current move up. Then back down to test support at the 90-EMA in the 4-Day again may be likely as well.
Comment:
The previous post is a "guess" if the price action were to go up with the upward pressure I'm currently seeing. We still are not quite out of the woods just yet in regards to the 90-EMA in the 4-Day TF.
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