WyckoffMode

BTCUSD: 2-Hr Blue LSMA Holding us Back in Short Term Group.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! The Blue LSMA in the 2-hour still has quite a piece yet to travel upward to and above Level 50. Is it possible to shoot up from where it is currently and go almost straight up to and above Level 50? Yes, it's possible but it doesn't occur very often when looking back in history statistically. So, there is a chance for us to leg down one more time. If we look at the Red RSI in the 12-hour on borderline of falling below Level 50 to trigger a pressure race against the 24-hour. What would be racing? The 12-hour White Energy going UP to Level 50 against the Red RSI in the 24-hour coming DOWN to Level 50. With the 2-hour Blue LSMA being very low and with a downward pressure race potentially being triggered in the 12-hour; we can expect sideways at best or downward at worst still. Down to where? Currently, we can expect the White/Aqua LOWER B-Bands in the 12-hour to hold support for the remainder of this current 12-hour candle and potentially the next 12-hour candle.

Happy Trading and Stay Awesome!

David
Comment: UPDATE:

The Blue LSMA came down quite a good ways in the 4-hour time frame. Let's see if the Red RSI can rise above Level 50 and the white energy hang up above level 50 a while to have a chance of pulling the blue LSMA up closer to level 50.

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I've been working on more educational content. Mainly for Wyckoff Mehtod 2.0 covering Accumulation -AND- Distribution.


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That educational content will provide more "details" about the BIG PICTURE seen in the screenshot below:

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Edited notes and added a couple of notes.
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More edits to text bubbles and additional text bubbles during 2013/2014 Distribution.
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Edited text bubble and added a text bubble for 2018 Distribution.
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I believe I have this chart the way I want it now (finally...LOL). This chart will be used to discuss Wycoff Distribution and RE-Distribution; as well as Wyckoff Accumulation and RE-Accumulation.
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Added a famous quote of Richard D. Wyckoff in a Green text bubble centered near the top of the chart.