BTCUSD: $48,650 to $49,160 Potential Next 3-Hour Candle

Hi Everyone! Yes, we may be going up currently. However, we still have a LOT of work to do to pull out of this downward pressure we currently have going on in the Mid Term Group of Time Frames. If we are to pull out of this and avoid falling down further, we need to begin seeing the Red RSI and Blue LSMA in the entire Short Term Group of time frames rise above Level 50. Then we might begin to see the Green turn up in the Daily (24hr) and potentially get the Red RSI back above Level 50 along with the Blue LSMA in the Daily (24hr).

I also pointed out three potential scenarios that could play out.

1. We turn found bottom and begin seeing the Red RSI and Blue LSMA in the entire Short Term Group rise above Level 50. We also see the Red RSI and Blue LSMA in the entire Near Term Group rise above Level 50 in order to turn things around in the Mid Term Group of time frames. However, the Blue LSMA in the 3-Day time frame already has a LOT of work to do to rise back up to Level 50.

2. We end up dropping again because the Red RSI and Blue LSMA did not rise above Level 50 in the entire Short Term Group as required in order to avert going down once again. When going down, we may only fall to a higher low than the previous low on December 4, 2021. If so, this could potentially be a Two Tiered RE-Accumulation Schematic with the bulk of the RE-Accumulation occurring in the upper tier of the schematic while the lower tier was used primarily for liquidation purposes. And yes, this could result in an eventual resumption of Phase E in our Long Term Accumulation Schematic. Which would also mean we've been in Phase D for quite some time with our "Back-Up / Last Point of Support."

3. We end up dropping further down than the previous low seen on December 4, 2021 and end up seeing a "Sign of Weakness in Phase E" of what may be Long Term Distribution.

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Here's a look at local schematic for three (3) possible scenarios:

Here's a look at our Long Term Accumulation Schematic:

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BTCUSD: Potential $48,800: Next 6-hour Candle B-Band Basis

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Odds increase more for Expansion DOWN at now... When looking at short term group:

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The Yellow 20-MA crossing below the Magenta 50-MA would mean a high probability of Distribution taking over. So far, we do not see the Yellow 20-MA crossing below the Magenta 50-MA in this Weekly time frame:

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Daily Time Frame:

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There is a chance to pull out of this. Compare the Present Day Weekly time frame to September, 2015.

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Compare Present Day 9-Day Time Frame to September, 2015:

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We really need the Green Line to turn up the next 2-Week candle beginning in 2-Days and 13-hours.

It's the 2-Week and this 3-Week time frame that concern me the most that makes me still wonder if we can turn this around and avoid falling into Long Term Distribution Phase E.

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Let's not assume we are out of the woods just yet. As you can see, from the 2-Week and 3-Week time frames just posted, we still have a LOT of work to do. For example, we still need the Blue LSMA in the 2-Week time frame to rise above Level 50 and we need the Red RSI to remain above Level 50 in the 2-Week time frame to have hope of Expansion "UP".