Hi Everyone! Simply pointing out we currently have upward pressure on-going in the Short Term Group of time frames (30-min. 60-min. 90-min. 2-hr. 3-hr. 4-hr. 6-hr. and 8-hr.). Why should we watch these cascading Upward Pressure Races unfold in the Short Term Group and continue running up into the 12-hour and 24-hour in the Near Term Group of time frames? I mentioned the 3-Day Red RSI in the video will likely close below level 50 on THIS 3-Day candle. Which will trigger downward pressure. HOWEVER, that downward pressure can be CANCELED if the Green EMA turns up; the Red RSI makes contact with the Green EMA "while" it's turning up; to indicate UPWARD pressure. HOWEVER, it's important we still have the Red RSI and Blue LSMA still up high above Level 50 in the Short Term Group of time frames in order for that Downward pressure to be CANCELED in the 3-Day time frame. If that were to occur, we would have a good chance of seeing the Green EMA in the NEXT Weekly Candle turn UP. As Andrew Cardwell would say, "We don't know what we don't know until we know it." LOL...
If the scenario previously mentioned were to work out, this would mean $51,000 was averted (for now) and the price action may go sideways at worst and upward at best in the Near Term Group of time frames.
PS - Be Mindful the B-Bands in the 12-hour time frame are contracting. Which means they will soon get to a point in which they either go sideways for a while or begin expansion rather quickly. We like seeing contracting B-Bands that are this contracted in this high of a time frame (12-hour). We know to expect expansion at some point. When we get it, we need to make sure we are on the right side of expansion. HOW? By paying close attention to what level the Red RSI and Blue LSMA are at expansion <AND> are the Red RSI and Blue LSMA going ABOVE level 50 or are they going BELOW level 50 at the time of expansion? Be mindful of potential traps. Whether they be bull or bear traps.
I'll stop babbling...
Happy Trading and Stay Awesome!
David
Comment
⋅
UPDATE:
Short Term Group of time frames:
Near Term Group of time frames:
Comment
⋅
UPDATE:
BTCUSD: Be MINDFUL of Blue LSMA in 12-hour and 24-hour
Hi David, thanks for another great analysis. Just a heads up that you have a duplicate 4D chart (instead of 5D) in the near group of time frames. Cheers mate.
Man... Hate it when I do that... THANKS for letting me know, CC. Much appreciated...
Stay Awesome!
David
CeCeBreslin
⋅
HI David,
Much better to follow along and the fonts are much easier to read, even on the laptop. This is great. THANKS!
Appreciate your time, consideration and the update!!
Stay Awesome!
CeCe
pdmaher123
⋅
I'll give my palantir viewing. You look at the one week, there was a what do you call it a "hanging bell" two weeks ago. That was after a decent run upwards and they often have a couple down candles following. There was one red one week candle, now at the moment there is what a "hanging wick". Yea it could drop to the weekly basis at ~51K, I don't think it will happen. However, most of this sentiment is based off of where we are in the fundamental cycle of the last "inflation adjustment". You look at the one day charts the price and stochastic has doubled bottomed and turned up, from there, are we in a bear market sentiment or a bull market sentiment? I think we are still in "Bitcoin City". I am very optimistic about the next month or two but I admit much of this relates to previous oscillations that occurred in similar time frames after more dramatic currency issuance halvings. In summary, While I doubt it. we might test 51K. overall, "All systems Nominal, Clear the Gantry, Clear the Gantry, We are go for Launch, repeat, we are go for Launch!"