WyckoffMode

Appears Upward Pressure Continues to May 13 & Possibly May 15.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
If we continue to May 15, my FIB at $7,820 will likely be touched. THAT would certainly spook the margin shorts a bit more if we were to do that. If we reach exhaustion on May 13, we may make it up to my 0.618 or 0.786 FIB. Also, I do not anticipate significant dip when we do come down in an effort to scare the hell out of margin shorts while also avoiding giving those waiting to take margin long positions an excellent point of entry for a long position.
May 11
Comment: A look at margin shorts and margin longs. We could very well continue up to $7,820 before exhaustion in an effort to reduce the number of margin short contracts on BitFinex. by the time they have margin long and short position pretty much the same, they will feel more flexibility. Who are "they?" EXCHANGES. Cause I personally believe they are trading against us. Especially, exchanges offering margin trading.

May 11
Comment: Simply posting an update of what our Bitcoin History from 2011 to Present Day Using Wyckoff Method looks like:


Here's my projection into the future. You see we could go as high as $300,000 by end of 2021. I'm anticipating $100,000 to be reached quite easily by end of 2021.

May 11
Comment:
May 12
Comment: Well, in a previous publication I mentioned Sunday, May 12th or Monday, May 13th. Looks like it was Sunday May 12th. I'm posting a couple of time frames (below) but will have a look at other higher time frames as well.

Here's the 3h:

Here's the 12h:
May 12
Comment: They have pumped this up so high that they gave themselves some leeway to drop it a bit lower than where it is currently and still be ahead of those who took margin short positions. It simply means Bitfinex will not take in as much profits as what they would have if they were to not go down as low. Also, going down a bit lower will allow them to "manage" the margin longs to try to keep them at spooked before taking it back up again.

May 12
Comment: It's POSSIBLE we go down to the FIB at $6,543.
May 12
Comment: The current 6h candle has a little over 4 hours remaining. I may give a video update some time during the NEXT 6 hour candle to try to get an idea of where we are going in the near term.