I'm Seeing Possible Significant Downward Pressure This Weekend.
I'm also seeing the case for a BIG Move to $4,950 or BIG Move Up to $9,950 in December, 2019. We desperately need to hold my 0.618 FIB at $6,149.32. If we do not hold that, we likely continue falling to my 0.5 FIB at approximately $4,950. If the Green 0.618 FIB at $6,149.32 holds this weekend and next weekend, we likely see a BIG move up to my Magenta 1.0 FIB at $9,948.98.
I"M DOING A "LIVE" STREAM AT 7:00pm CENTRAL TIME (CHICAGO TIME) FRIDAY, DECEMBER 6, 2019. The Link will be posted at approximately 30 minutes prior to 7:00pm Central Time, Friday.
Here's a look at the 3-Day TF to show you we are likely in store for downward pressure this weekend and possibly for most of next week.
Either BIG Move to $4,950 or BIG Move Up to $9,950 in December.
A look at the Weekly TF with my PRIMARY (Over-All) FIB:
I"M DOING A "LIVE" STREAM AT 7:00pm CENTRAL TIME (CHICAGO TIME) FRIDAY, DECEMBER 6, 2019. The Link will be posted at approximately 30 minutes prior to 7:00pm Central Time, Friday.
Here's a look at the 3-Day TF to show you we are likely in store for downward pressure this weekend and possibly for most of next week.
Either BIG Move to $4,950 or BIG Move Up to $9,950 in December.
A look at the Weekly TF with my PRIMARY (Over-All) FIB:
Comment:
Made a few adjustments on my Weekly Chart. I tried to post a chart publication but it would not let me. It said the chart belonged to someone else and my chart totally disappeared. I had to create a brand new chart. Weird....
Comment:
LET ME BE CLEAR: IF I post a publication providing TA for possible future price movement, DO NOT ASSUME THE ANALYSIS IS FOR A MARGIN TRADE. If I were to provide TA for a MARGIN TRADE, I will say it clearly in the video or chart publication -OR- within comments section of publication.
Margin trading requires more patience to wait for a precise signal lining up in multiple time frames from the 5 minute TF up to the Daily TF.
ALSO: The PURPOSE for this video publication was simply to point out I still see more downward pressure coming in the future and that downward pressure MIGHT BEGIN THIS WEEKEND.
BOTTOM LINE: If I'm not very specific in my words or phrase written or spoken by saying, "Consider buying or selling at such-and-such price range..." then DO NOT ASSUME I'm saying to buy or sell at a price range.
I DID "NOT" say buy or sell at any price point in this publication. THE PURPOSE OF THIS PUBLICATION WAS SIMPLY TO POINT OUT I"M SEEING MORE DOWNWARD PRESSURE IN THE NEAR FUTURE.
I've had a couple of people upset with me and several stop following me on account of ASSUMING I'm "IMPLYING" to sell at the moment I posted this video. When in reality, I said no such thing. Also, a few of those individuals were trading on margin while ASSUMING I "implied" something.
So, if I do not come out and SPECIFICALLY say buy or sell at a certain price range, DO NOT ASSUME I'm "implying" to buy or sell. Especially, on margin...
When my website goes LIVE in the near future, I will be VERY SPECIFIC about price range targets for buying and selling, when to take profit, etc... for several different traders. What do I mean when I say, "...for several different traders?" Some do not have as much time to trade as others. So, I will provide signals for the day trader who is scalping in very low time frames, signals for those who have the time to make maybe one or two trades each day, signals for those who have time for one or two trades a week, etc... My signals won't be just for one type or style of trader. My signals will cover a broad range and I will be VERY SPECIFIC for each trade type/style in my signals.
Stay Awesome!
David
Margin trading requires more patience to wait for a precise signal lining up in multiple time frames from the 5 minute TF up to the Daily TF.
ALSO: The PURPOSE for this video publication was simply to point out I still see more downward pressure coming in the future and that downward pressure MIGHT BEGIN THIS WEEKEND.
BOTTOM LINE: If I'm not very specific in my words or phrase written or spoken by saying, "Consider buying or selling at such-and-such price range..." then DO NOT ASSUME I'm saying to buy or sell at a price range.
I DID "NOT" say buy or sell at any price point in this publication. THE PURPOSE OF THIS PUBLICATION WAS SIMPLY TO POINT OUT I"M SEEING MORE DOWNWARD PRESSURE IN THE NEAR FUTURE.
I've had a couple of people upset with me and several stop following me on account of ASSUMING I'm "IMPLYING" to sell at the moment I posted this video. When in reality, I said no such thing. Also, a few of those individuals were trading on margin while ASSUMING I "implied" something.
So, if I do not come out and SPECIFICALLY say buy or sell at a certain price range, DO NOT ASSUME I'm "implying" to buy or sell. Especially, on margin...
When my website goes LIVE in the near future, I will be VERY SPECIFIC about price range targets for buying and selling, when to take profit, etc... for several different traders. What do I mean when I say, "...for several different traders?" Some do not have as much time to trade as others. So, I will provide signals for the day trader who is scalping in very low time frames, signals for those who have the time to make maybe one or two trades each day, signals for those who have time for one or two trades a week, etc... My signals won't be just for one type or style of trader. My signals will cover a broad range and I will be VERY SPECIFIC for each trade type/style in my signals.
Stay Awesome!
David
Comment:
UPDATE ON THE LIVE STREAM: Changing the time of the LIVE Stream from 1:00am UTC (London) Time Saturday, Dec. 7th to 8:00pm UTC (London) Time Saturday, Dec. 7th. This will be 2pm Central (Chicago) Time Saturday.
Comment:
A higher low is still a possibility because of the golden cross with the Green 50-Week MA crossing above the Aqua 100-Weekly MA in the Weekly TF:
What concerns me is the spread between the margin long and margin short contracts on BitFinex. Almost 5 times as many long contracts as their are short contracts. We did not have access to margin trading in 2015 when we were climbing out of Accumulation from Distribution. So, what we see here in late 2019 to early 2020 will likely set a precedent for future periods just before future block halving events after the one coming up in 2020.
Bottom Line: We are about to find out just how much influence the margin trading markets and futures markets affect the traditional spot price markets. We are about to see a lot of whales battling whales for position and acquisition of coins over the month of December and January. I'm rather anxious to see how the indicators react to all of this. The indicators in the 3-Day Time Frame currently look rather nasty; like we could come down significantly soon if and/or when the White energy drops to and/or below the 50 percent level in the 3-Day TF. Here's a look at the white energy in the 3-Day TF:
Also, it's quite possible this next drop that likely comes soon may be the last significant drop we see with a chance to drop to a lower low before we FINALLY begin to see a chance of reversal to upward pressure in higher time frames. I'm still seeing a chance of a higher low on the next drop. However, I'm leaning more towards a lower low. I'll feel more confident about reversal to upward pressure if we could just get the white energy in the 3-Week TF up to the 50 percent level. Yet, the chance for that occurring in December doesn't look good at all. Appears more likely in January, 2020.
Here's a look at the White Energy in the 3-Week TF: The current 3-Week Candle ends very soon and a new 3-Week candle begins on December 9, 2019. The next 3-Week candle after that begins on December 30, 2019. The next 3-Week Candle after that would be January 20, 2020. I'm anticipating the White Energy in the 3-Week Candle beginning December 30, 2020 to have us pretty close to the 50 percent level and we shoot up clearly above the 50 percent level in the 3-Week candle beginning January 20, 2020.
The White Energy in the Current 3-Week candle looks quite ugly at the moment. I'm looking forward to the new 3-Week candle that begins this Monday to see what the White Energy will look like then.
What concerns me is the spread between the margin long and margin short contracts on BitFinex. Almost 5 times as many long contracts as their are short contracts. We did not have access to margin trading in 2015 when we were climbing out of Accumulation from Distribution. So, what we see here in late 2019 to early 2020 will likely set a precedent for future periods just before future block halving events after the one coming up in 2020.
Bottom Line: We are about to find out just how much influence the margin trading markets and futures markets affect the traditional spot price markets. We are about to see a lot of whales battling whales for position and acquisition of coins over the month of December and January. I'm rather anxious to see how the indicators react to all of this. The indicators in the 3-Day Time Frame currently look rather nasty; like we could come down significantly soon if and/or when the White energy drops to and/or below the 50 percent level in the 3-Day TF. Here's a look at the white energy in the 3-Day TF:
Also, it's quite possible this next drop that likely comes soon may be the last significant drop we see with a chance to drop to a lower low before we FINALLY begin to see a chance of reversal to upward pressure in higher time frames. I'm still seeing a chance of a higher low on the next drop. However, I'm leaning more towards a lower low. I'll feel more confident about reversal to upward pressure if we could just get the white energy in the 3-Week TF up to the 50 percent level. Yet, the chance for that occurring in December doesn't look good at all. Appears more likely in January, 2020.
Here's a look at the White Energy in the 3-Week TF: The current 3-Week Candle ends very soon and a new 3-Week candle begins on December 9, 2019. The next 3-Week candle after that begins on December 30, 2019. The next 3-Week Candle after that would be January 20, 2020. I'm anticipating the White Energy in the 3-Week Candle beginning December 30, 2020 to have us pretty close to the 50 percent level and we shoot up clearly above the 50 percent level in the 3-Week candle beginning January 20, 2020.
The White Energy in the Current 3-Week candle looks quite ugly at the moment. I'm looking forward to the new 3-Week candle that begins this Monday to see what the White Energy will look like then.
Comment:
It's POSSIBLE for the White Energy in the 3-Day time frame not to drop as deep below 50 percent level before turning back up as I depicted in the 3-Day chart above with text bubbles. While would also indicate a chance for a higher low. Only time will tell.
I'm going to get a nap to rest before the LIVE STREAM. I have to get up at 11:00am to go to the post office. Then come back and nap for another hour before the LIVE STREAM AT 2:00pm Central (Chicago) TIME -OR- 8:00pm UTC (London) TIME.
I'm going to get a nap to rest before the LIVE STREAM. I have to get up at 11:00am to go to the post office. Then come back and nap for another hour before the LIVE STREAM AT 2:00pm Central (Chicago) TIME -OR- 8:00pm UTC (London) TIME.
Comment:
Hi Everyone! Here’s the LIVE Stream Link below. However we will not officially begin until 2:00pm Central (Chicago) Time - 8:00pm UTC (London) Time: www.tradingview.com/...YPkgloUuMbMQddHc-3z/
Comment:
We have a NEW 3-Day Candle today (December 9th) in which we see the White Energy trying to turn back up AGAIN. So, it's POSSIBLE we could see $8,000. I'll elaborate in a new video publication in a couple of hours.
Have a look at the White Energy in the 3-Day TF to the far right:
Have a look at the White Energy in the 3-Day TF to the far right:
Comment:
It's POSSIBLE to go up to at least the Yellow Dotted 20-MA in the 3-Day TF (chart on far right). The 20-MA in the 3-Day TF is currently at $8,190.
Comment:
It is still possible for the price action to continue sideways within the same trading range without going up to $8,000. I simply wanted to point out the 2-Day and 3-Day are showing POTENTIAL for upward price movement.
Keep in mind the Red RSI has just reached the 50 percent level on a NEW 2-Day Candle. ALSO KEEP IN MIND the price action and indicators can fluctuate during the current 2-Day Candle. So, even thought the Red RSI is just a hair above the 50 percent level currently, it may not CLOSE above the 50 percent level by the beginning of the NEXT 2-Day Candle.
If the CURRENT 2-Day candle closes with the Red RSI ABOVE the 50 percent level, this would mean we would pay MORE ATTENTION to WHEN the White Energy comes down to the 50 percent level. IF the Red RSI was NOT above the 50 percent level, it would mean the price action would turn down immediately WITH the White Energy. As long as the Red RSI is above the 50 percent level in the 2-Day TF, there is still a possibility for the price action to continue going up UNTIL the White Energy passes below the 50 percent level.
Keep in mind the Red RSI has just reached the 50 percent level on a NEW 2-Day Candle. ALSO KEEP IN MIND the price action and indicators can fluctuate during the current 2-Day Candle. So, even thought the Red RSI is just a hair above the 50 percent level currently, it may not CLOSE above the 50 percent level by the beginning of the NEXT 2-Day Candle.
If the CURRENT 2-Day candle closes with the Red RSI ABOVE the 50 percent level, this would mean we would pay MORE ATTENTION to WHEN the White Energy comes down to the 50 percent level. IF the Red RSI was NOT above the 50 percent level, it would mean the price action would turn down immediately WITH the White Energy. As long as the Red RSI is above the 50 percent level in the 2-Day TF, there is still a possibility for the price action to continue going up UNTIL the White Energy passes below the 50 percent level.
Comment:
Let's have a look at the 9-Day TF:
Comment:
A look at the 2-Day Time Frame (TF):
