BTCUSD: $30500 to $30750 With Potential to Go Higher

Hi Everyone! Pointing out WHY white/aqua upper b-bands across the board in the Short Term Group of time frames. Which basically is $32,500 to $32,750 in the 3-Hour time frame for the short term. Let's see if we make it to the White/Aqua Upper in the 3-hour (As a scalper) before making a decision about potential expansion up with the price action and b-bands.

Happy Trading and Stay Awesome!

David

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Someone asked the following in comments, "Hey Ive been meaning to ask, what is your outlook in the coming months rather than coming day. Just curious really."

Well, I "could" provide different scenarios based on when we determine we have transitioned from distribution to accumulation.

Here's a FIB study to the next 3.618 to 4.618 FIB Extension Range.

Here's Present Day compared to previous Accumulation period after Distribution to the 3.618 to 4.618 FIB Extension Range for comparison.

Here's the Distribution Period of 2014 to Accumulation Climaxed in 2017 "COMPARED" to Distribution Period of 2018 to "Large/Extended Back-Up Last Point of Support" Event in Phase D and waiting for transition upward from Phase D into Phase E of accumulation.

I'll try to set aside 1.5 hours to do a 2 Part Publication at 20 minutes each to use FIB Studies, Phoenix and Bad Ass B-Bands applied with FIB Based Pitch Fork Trend Lines to see if we can Merge a Long Term Bullish Scenario and a Long Term Bearish Scenario.

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I'll include this chart with in one or both parts of the discussion as well...

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Of course, it would be best to wait to see what the indicators look like at the BEGINNING of the NEXT 3-hour candle before being hasty to open a long position. I mentioned in the video we have a new 3-hour candle coming in about 2.5 hours. We now have about 1 hour 20 minutes remaining. for the next 3-hour candle.

You should be monitoring the Immediate Group of time frames.

Immediate Group:

You should be monitoring the 30-minute, 60-minute, 90-minute, 2-hour and 4-hour candles along with the 3-hour to determine if and/or when to open a long position.

Short Term Group:

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THERE IS AN ERROR (TYPO) in the first paragraph. The TITLE is correct.

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Looks like we could be on the verge of going up now when looking at this immediate Group:

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New 90-minute and 3-hour coming up shortly: Here is current; soon to be followed by new:

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1-Hour time frame:

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One of thousands of comparisons. HOWEVER, in order for this to play out we need to have the Green Line turn up and Red Line Turn Up before the current 1-hour candle closes. We would look at LOWER time frames in the Immediate group to determine the odds for that.

Here is the Immediate Group:

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Here's the one hour again:

Here's the Immediate Group again:

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Did you notice how the Green Line in the 1-hour time frame I posted multiple times was once angled downward. NOTE: It is now angled upward. THIS IS WHAT I MEAN by looking at lower time frames to determine if the Green in the 1-hour was going to have a chance of turning up or if we are going to exhaust upward pressure and turn down.

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If you are not using my indicators at present, you can consider adding them to your chart. Don't know how to use TradingView's platform. No worries... This video shows you how to setup my indicators to your charts.

Setup Video:

13:55

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UDPATE:

We are now seeing visible sign of expansion of the B-Bands and price action going "UP" with that expansion. Now, let us see if we get "Over-Extension" of the price above the Aqua UPPER B-Band to at least within Proximity of the Orange UPPER B-Band or potentially higher to the Red UPPER B-Band.

1-hour time frame:

Immediate Group:

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DO NOT FORGET: Do you remember me pointing out how the Green Line in the 1-hour was angled downward at the time? The 1-hour has not even "closed" yet and now it is shoot up like a rocket. This is what I mean by looking at time frames LOWER than the 1-hour time frame for the POTENTIAL to see that over extension UP with expansion UP.

You have to ANTICIPATE things like this and choose when to pull the trigger while setting up a stop loss.

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12-hour without indicators:

1hour with indicators:

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Simply pointing out price action in the 1-hour time frame "Over-Extended" above the Aqua UPPER B-Band up towards "proximity" to the Orange UPPER B-Band.