White Energy in 3-Day TF Dictates WHEN Downward Pressure Ends
We still have a chance for the White Energy and Green Line in the current 12-Day Candle to finish "up" and look like the second tooth of a fork; similar to the forks seen in 2012 and 2013 in the 12-Day Time Frame (TF). The 3-Day TF provides a more up close and personal look as to what is occurring in the 12-Day TF. As pointed out in the video, this current episode of downward pressure has not completed yet. It's too hard to say if the price action will drop significantly lower during this current episode of downward pressure. What's important is the indicators in the 3-Day TF are indicating we still have a CHANCE for a significant drop. However, it does not mean we must have a significant drop.
If you have not made entry yet, you can consider scattering buy orders below the current price in multiples of $100 increments. For example: Buy orders at $7,900, $7,800, $7,700, etc... on down to $6,200. If it turns out the price only went down to $7,500 and made a reversal back to the upside, you can keep the remaining buy orders open while keeping a close eye on the indicators in the 3-Day TF. It's possible once we see a clear sign of reversal to upward pressure in the 3-Day time frame that the price action advances to $9,500 to $10,500 price range. If that ends up being the case, we would re-evaluate where to scatter buy orders for one more dip before an anticipate exponential upward move the first or second week of January, 2020.
Those of you who have already bought in and still have some capital remaining, simply follow previous recommended "opinion" if you like. If you have no remaining capital, do not panic!!! Simply wait for events yet to come to play out between now and the first or second week of January, 2020.
Happy Trading and Stay Awesome!
David
If you have not made entry yet, you can consider scattering buy orders below the current price in multiples of $100 increments. For example: Buy orders at $7,900, $7,800, $7,700, etc... on down to $6,200. If it turns out the price only went down to $7,500 and made a reversal back to the upside, you can keep the remaining buy orders open while keeping a close eye on the indicators in the 3-Day TF. It's possible once we see a clear sign of reversal to upward pressure in the 3-Day time frame that the price action advances to $9,500 to $10,500 price range. If that ends up being the case, we would re-evaluate where to scatter buy orders for one more dip before an anticipate exponential upward move the first or second week of January, 2020.
Those of you who have already bought in and still have some capital remaining, simply follow previous recommended "opinion" if you like. If you have no remaining capital, do not panic!!! Simply wait for events yet to come to play out between now and the first or second week of January, 2020.
Happy Trading and Stay Awesome!
David
Comment:
The White Energy continues with its downward pressure in the 3-Day TF. Which see...
If we do end up coming down in a similar way as in December, 2018 on the last leg down before reversal, we could end up falling to a SECONDARY 0.382 FIB RT at $7,134.22.
If we do end up coming down in a similar way as in December, 2018 on the last leg down before reversal, we could end up falling to a SECONDARY 0.382 FIB RT at $7,134.22.
Comment:
Pointing out a few more similarities within the indicators with yellow circles in the 3-Day TF with December, 2018 to present day.
Comment:
"Personal Test: Possible Future Price Action Scenarios."
Comment:
EXCELLENT publication by user SpartaBTC; titled, "BTC Fractal 2016. Flat 77 days and a shot. The trend. Dow Theory."
Comment:
It's actually quite possible what is going on in the U.S. REPO "overnight" banking market that we begin to see BIG money trickle into crypto's to protect their wealth. It's just too much "fear" beginning to settle in traditional markets. The 2 year yield is still inverted to the 5 year yield in the U.S. Bond Market.
The Federal Reserve is trying to quietly bail out the banks via REPO's instead of putting it out in the open for a bailout like they did in 2008. They know the U.S. congress will not vote to bailout the banks again like they did in 2008 because they know We The People will not support it.
We are already beginning to see banks around the world deny depositors the right to withdraw a substantial amount of funds out of their bank accounts. Those who are smart and still can withdraw substantial amount of funds are wiring money out of the bank to buy PHYSICAL precious metals and cryptos.
Soon, it will be too late to even wire transfer a substantial amount of money out from your bank account. When that occurs, it will be too late to buy precious metals and cryptos to hedge against the coming collapse. This is why I believe BIG money is about to come pouring into crypto and the physical metals markets via wire transfers.
As I've mentioned before, consider getting all the cryptos you are wanting to get soon and take the bulk of them OFF EXCHANGE. Leave only a very small amount on the exchange if you intend to day trade. The MAIN reason for this is to protect yourself in the event of a banking crisis. If you really think about it, when the banks fail, many exchanges will fail. Very few crypto exchanges will survive. Many crypto exchanges are just as reliant on banks as other corporations are reliant.
Most of the FIAT transferred to a crypto exchange is actually held in a traditional bank. It's not held physically by the crypto exchange. So, when the banking system collapses, there will be many users of exchanges who still had funds tied up in FIAT instead of crypto on that exchange. The exchange would have to FREEZE all FIAT on their exchange and not allow users to buy crypto with it because they would no longer have the FIAT in the bank for those purchases since the exchanges traditional bank had gone under (closed).
This also goes for those of you trading the stock market and/or FOREX markets via a broker. Your broker holds your FIAT in a BANK. When that bank goes under, what do you think will happen to your funds? The broker cannot be held liable for something beyond their control. EVERYONE in the FOREX market via a broker WILL lose their capital in the blink of an eye. It doesn't matter if you owned actual FIAT -OR- a POSITION(s) through your broker. When the banks fail, that's it... Your funds are gone. PERIOD...
With that said, I would be surprised if we don't see the price of Bitcoin and other cryptos begin to go up VERY SOON. I can smell the fear in the air for those holding BIG money and looking for somewhere to store their wealth in order to survive the coming banking (financial) crisis. So, I cannot emphasize this enough: PLEASE consider getting your crypto's soon and taking most; if not all of them OFF EXCHANGE. If you still plan on Day Trading, PLEASE only keep a very small amount of your cryptos on exchange; while leaving the bulk off exchange to protect your capital.
Stay Awesome!
David
The Federal Reserve is trying to quietly bail out the banks via REPO's instead of putting it out in the open for a bailout like they did in 2008. They know the U.S. congress will not vote to bailout the banks again like they did in 2008 because they know We The People will not support it.
We are already beginning to see banks around the world deny depositors the right to withdraw a substantial amount of funds out of their bank accounts. Those who are smart and still can withdraw substantial amount of funds are wiring money out of the bank to buy PHYSICAL precious metals and cryptos.
Soon, it will be too late to even wire transfer a substantial amount of money out from your bank account. When that occurs, it will be too late to buy precious metals and cryptos to hedge against the coming collapse. This is why I believe BIG money is about to come pouring into crypto and the physical metals markets via wire transfers.
As I've mentioned before, consider getting all the cryptos you are wanting to get soon and take the bulk of them OFF EXCHANGE. Leave only a very small amount on the exchange if you intend to day trade. The MAIN reason for this is to protect yourself in the event of a banking crisis. If you really think about it, when the banks fail, many exchanges will fail. Very few crypto exchanges will survive. Many crypto exchanges are just as reliant on banks as other corporations are reliant.
Most of the FIAT transferred to a crypto exchange is actually held in a traditional bank. It's not held physically by the crypto exchange. So, when the banking system collapses, there will be many users of exchanges who still had funds tied up in FIAT instead of crypto on that exchange. The exchange would have to FREEZE all FIAT on their exchange and not allow users to buy crypto with it because they would no longer have the FIAT in the bank for those purchases since the exchanges traditional bank had gone under (closed).
This also goes for those of you trading the stock market and/or FOREX markets via a broker. Your broker holds your FIAT in a BANK. When that bank goes under, what do you think will happen to your funds? The broker cannot be held liable for something beyond their control. EVERYONE in the FOREX market via a broker WILL lose their capital in the blink of an eye. It doesn't matter if you owned actual FIAT -OR- a POSITION(s) through your broker. When the banks fail, that's it... Your funds are gone. PERIOD...
With that said, I would be surprised if we don't see the price of Bitcoin and other cryptos begin to go up VERY SOON. I can smell the fear in the air for those holding BIG money and looking for somewhere to store their wealth in order to survive the coming banking (financial) crisis. So, I cannot emphasize this enough: PLEASE consider getting your crypto's soon and taking most; if not all of them OFF EXCHANGE. If you still plan on Day Trading, PLEASE only keep a very small amount of your cryptos on exchange; while leaving the bulk off exchange to protect your capital.
Stay Awesome!
David
Related Ideas
I sure hope we can avoid the 50/200 MA cross ("death cross") on the daily chart. Those usually confirm a mid/long term bear market. They look to intersect pretty soon, maybe next week. A significant move down to the low $6,000s would be pretty threatening for that reason.
MY RESPONSE:
If you have not seen this video yet, watch it: "50-Day MA Crossing 200-Day MA Does NOT Necessarily Mean DEATH."
We are currently in Phase D of a Wyckoff Accumulation Schematic. Phase D has two major events. #1 - Is the "Sign of Strength" (SOS) pushing us substantially above Preliminary Support to establish a new higher trading range. #2 - is the "Back Up/Last Point of Support" (BU/LPS); which is basically re-accumulation within that new higher established trading range. Once our "Back Up/Last Point of Support" (BU/LPS) is completed; this will end Phase D and we transition into Phase E. However, We are not "officially" in Phase e until we breakout ABOVE $13,880 on Bitstamp.
My most recent video publication for BTCUSD points out the indicators in the 3-Day time frame in conjunction with the 12-Day time frame will likely be the best time frames to use to see WHEN this episode of downward pressure in this "Back Up/Last Point of Support" (BU/LPS) will likely end and we begin to slowly transition into Phase E of our Wyckoff Accumulation Schematic.
Even if we do fall lower into the $6k's, this does not mean we are going to continue into a prolonged bear market. It simply means our BU/LPS dropped lower before our transition into Phase E in my opinion.