BTC: Near Term Group Supports SIgn of Weakness Approaching
Hi Everyone! If you have not watched my three (3) part series on Distribution and Re-Distribution, you would likely find it very interesting. The Red and Blue Lines within Phoenix Ascending and PARXCES indicators are below Yellow Level 50 in every single time frame (12h, 24h, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week). Depending on the time frame; we see potential Stage-1, Stage-2 and even Stage-3 Expansion of the B-Bands approaching. Since the Red and Blue Lines are BELOW level 50, odds are much higher for the price action to go DOWN with this expansion instead of going UP with expansion.
Do NOT assume I'm saying we are dropping substantially after 2-Days and 5.5 hours. We could very well continue sideways and RANGE between $25,000 and $26,000. If we do fall down to $25,000, don't be surprised if we eventually see a Bull Trap with price going UP to $26,000 before finally slamming down to $22,400 to $20,570 price range. Falling down to that range would definitely qualify as a Sign of Weakness in Phase D of RE-Distribution.
As a reminder: If we do fall down with a Sign of Weakness in Phase D, it's usually followed up with an Up-Thrust, then Higher Low, then Up-Thrust/Last Point of Supply event. Do NOT assume a couple of higher highs and higher lows implies the bottom is in and the bull market is back. Those events are only to entice retail traders to open margin longs; only to slam the price back down again to liquidate them with a Sign of Weakness in Phase E. So, please be very careful if Day Trading with leverage.
I hope this was helpful and thank you for your valuable time!
Happy Trading and Stay Awsesome!
David
Do NOT assume I'm saying we are dropping substantially after 2-Days and 5.5 hours. We could very well continue sideways and RANGE between $25,000 and $26,000. If we do fall down to $25,000, don't be surprised if we eventually see a Bull Trap with price going UP to $26,000 before finally slamming down to $22,400 to $20,570 price range. Falling down to that range would definitely qualify as a Sign of Weakness in Phase D of RE-Distribution.
As a reminder: If we do fall down with a Sign of Weakness in Phase D, it's usually followed up with an Up-Thrust, then Higher Low, then Up-Thrust/Last Point of Supply event. Do NOT assume a couple of higher highs and higher lows implies the bottom is in and the bull market is back. Those events are only to entice retail traders to open margin longs; only to slam the price back down again to liquidate them with a Sign of Weakness in Phase E. So, please be very careful if Day Trading with leverage.
I hope this was helpful and thank you for your valuable time!
Happy Trading and Stay Awsesome!
David