Downward Pressure Till Mid Day of March 10th; Before We...
...See Another "Potential" Bout of Upward Pressure.
Please keep in mind we may also see our "DIP" or "dump" begin on March 10th. However, the 3-Day TF shows more upward pressure to continue until on or around March 15, 2019. The Daily (24h) TF shows more upward pressure until March 10th or 11th. Which means we COULD see a decent "DIP" occur on March 10th or 11th to around $3,775 to $3,785 in an effort to try to liquidate some margin longs; WHILE AT THE SAME TIME that kind of "DIP" would induce (lull in) traders to go margin short in the hope of liquidating some margin shorts WHEN they take it up one more time on March 12th or 13th and reach our peak of our Simple Rally on or around March 15th before we FINALLY DUMP back down to Test Support at $3,300 to $3,500 price range.
I'm still working on business taxes and cannot stay on top of it this time. So, I'm leaving it up to you in regards to HOW you may conduct your trade(s). Do you take "some" profit now "while" holding onto "some" in an effort to "potentially" get a bit more gains? Do you sell a portion OR all "now" to take profit and use a small percentage at or near the bottom of a potential "DIP" to ride it back up again "potentially" until on or around March 15th? There's obviously several choices you can come up with. I'm going to leave those choices with you because it's YOUR money. ; )
If you feel you need to watch the video AGAIN, then please do so. Try to jot down notes on what I said in higher time frames while considering the lower time frames to assist you with your decision(s) in regards to HOW you will conduct your trade(s).
I hope what I've shared has been helpful. If you don't mind, take a moment to click "like." If you're not following, feel free to do so. I would certainly appreciate your support. Followers, thank you SO MUCH for the support you have shown and continue to show. VERY MUCH APPRECIATED... ; )
David
Please keep in mind we may also see our "DIP" or "dump" begin on March 10th. However, the 3-Day TF shows more upward pressure to continue until on or around March 15, 2019. The Daily (24h) TF shows more upward pressure until March 10th or 11th. Which means we COULD see a decent "DIP" occur on March 10th or 11th to around $3,775 to $3,785 in an effort to try to liquidate some margin longs; WHILE AT THE SAME TIME that kind of "DIP" would induce (lull in) traders to go margin short in the hope of liquidating some margin shorts WHEN they take it up one more time on March 12th or 13th and reach our peak of our Simple Rally on or around March 15th before we FINALLY DUMP back down to Test Support at $3,300 to $3,500 price range.
I'm still working on business taxes and cannot stay on top of it this time. So, I'm leaving it up to you in regards to HOW you may conduct your trade(s). Do you take "some" profit now "while" holding onto "some" in an effort to "potentially" get a bit more gains? Do you sell a portion OR all "now" to take profit and use a small percentage at or near the bottom of a potential "DIP" to ride it back up again "potentially" until on or around March 15th? There's obviously several choices you can come up with. I'm going to leave those choices with you because it's YOUR money. ; )
If you feel you need to watch the video AGAIN, then please do so. Try to jot down notes on what I said in higher time frames while considering the lower time frames to assist you with your decision(s) in regards to HOW you will conduct your trade(s).
I hope what I've shared has been helpful. If you don't mind, take a moment to click "like." If you're not following, feel free to do so. I would certainly appreciate your support. Followers, thank you SO MUCH for the support you have shown and continue to show. VERY MUCH APPRECIATED... ; )
David
Comment:
YOU MAY want to have a look at LTCUSDT publication to possibly get an idea of what BTCUSD may do today.
Comment:
Here's another reason I'm convinced we are going sideways in "Accumulation" and we should not expect another drop down substantially below $3,122 to commence accumulation at a lower trading range than our current trading range between $4,200 and $3,200.
I have two (2) indicators on this chart. One is Phoenix TSI Long Cycle and the other is Phoenix TSI Short Cycle. The Long Cycle does not move up and down as frequently as the Short Cycle. What I want to point out is the "Short Cycle" has crossed upward (above) the Long Cycle around our "Simple Rally" in Phase B. We had a similar crossing of the Long and Short Cycles during the Simple Rally in Phase B in our Accumulation Schematic of 2015. Ignore all drawings EXCEPT for Aqua Blue Text Bubbles:
Bitcoin History Using Wyckoff Method to Show We Are Currently in the Beginning Stage of our Third (3rd) Wyckoff Accumulation Schematic. We are currently in the process of completing our first Simple Rally in Phase B.
For more details about the various events within Phases A, B, C, D and E of a Wyckoff Accumulation Schematic; have a look at the history of the two (2) previous Accumulation Schematics in 2012 and 2015.
2012 Accumulation Schematic With Description of each Phase:
2015 Accumulation Schematic With Description of each Phase:
More information about Wyckoff Method can be found here: stockcharts.com...school/doku.php?id=chart_s...
The video (below) provides a brief Explanation of Phases A, B, C and D in a Wyckoff Accumulatoin Schematic. Phase E is not covered in this video. Also, do NOT assume I'm saying the Price Action will play out exactly as depicted in the EXAMPLE provided in the video. It's ONLY an example...
I have two (2) indicators on this chart. One is Phoenix TSI Long Cycle and the other is Phoenix TSI Short Cycle. The Long Cycle does not move up and down as frequently as the Short Cycle. What I want to point out is the "Short Cycle" has crossed upward (above) the Long Cycle around our "Simple Rally" in Phase B. We had a similar crossing of the Long and Short Cycles during the Simple Rally in Phase B in our Accumulation Schematic of 2015. Ignore all drawings EXCEPT for Aqua Blue Text Bubbles:
Bitcoin History Using Wyckoff Method to Show We Are Currently in the Beginning Stage of our Third (3rd) Wyckoff Accumulation Schematic. We are currently in the process of completing our first Simple Rally in Phase B.
For more details about the various events within Phases A, B, C, D and E of a Wyckoff Accumulation Schematic; have a look at the history of the two (2) previous Accumulation Schematics in 2012 and 2015.
2012 Accumulation Schematic With Description of each Phase:
2015 Accumulation Schematic With Description of each Phase:
More information about Wyckoff Method can be found here: stockcharts.com...school/doku.php?id=chart_s...
The video (below) provides a brief Explanation of Phases A, B, C and D in a Wyckoff Accumulatoin Schematic. Phase E is not covered in this video. Also, do NOT assume I'm saying the Price Action will play out exactly as depicted in the EXAMPLE provided in the video. It's ONLY an example...
Comment:
When I say, "BOTTOM," that implies we have formed a "BASE" for the purpose of accumulation. In a Wyckoff accumulation schematic, we anticipate a drop on low volume just below the lower boundary of the trading range to identify our Wyckoff Spring. That Wyckoff Spring may begin at $2,868.65. Meaning, I do not expect us to go below that price point for our Wyckoff Spring in August/September. In the meantime, we will continue within a $1,000 trading range ( Between $3,200 and $4,200) for the purpose of accumulation. We should then expect a drop below the lower boundary ($3,200) to mark the beginning of a Wyckoff Spring that will lead into an Up-Thrust and Sign of Strength to $6k+. That drop below $3,200 is "NOT" what I consider bottom. When I say, "Bottom is in," I'm implying the Bear market of distribution IS OVER and we are now in accumulation before heading into a Sign of Strength and many months of Bull market.
The purpose of that video publication was ONLY to provide an explanation of events that occur within phases A, B, C and D. I did not get into Phase E in that publication. I think I said either in the video or in comments section below the video that I'm "not" saying the price action will play out exactly as depicted in that "example." It was "only" intended as an example of a Wyckoff Accumulation Schematic #1.
If anyone is asking what must NOT occur for this schematic to come to pass, I would say, we must NOT fall BELOW $2,868.65. If we fall below $3,122 WHILE staying above $2,868.65 on this next trip down, there's a good chance THAT move down may likely be our Wyckoff Spring and our accumulation is completed. Which would mean it will likely go up with a Sign of Strength to test $6k shortly after a move below $3,122 WHILE STAYING ABOVE $2,868.65.
I'm leaning more towards a drop below $3,122 not occurring until some time in August or September (shortly after the Litecoin Block halving) just as we did after the LiteCoin Block Halving in 2015. However, with the creation of OTC exchanges in 2018, this allowed large interest to accumulate large blocks of crypto much easier than in the past on retail exchanges. Which could explain a Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving. Also, the fact we have falling well below the 200-EMA on the Weekly in 2019 more so than where we were in 2015 could also be a reason for a potential Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving.
So yes, there are arguments that can be made to potentially support a Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving. If we DO NOT fall below $3,122 on this next drop BEFORE the LiteCoin Block Halving and still go up for another Simple Rally to the Preliminary Support Range (around $4,200), we will likely fall back down for our Wyckoff Spring on that drop down to test support. That's also when I would expect a drop just below $3,122 WHILE REMAINING ABOVE $2,868.65.
Let me know if you would rather I created a video publication for it if this is not coming across in a way that can be easily understood. I'm not sure if I'm getting my point across or not.
A move substantially below $2,868.65 would INVALIDATE that schematic and also confirm we were still in "Distribution."
The purpose of that video publication was ONLY to provide an explanation of events that occur within phases A, B, C and D. I did not get into Phase E in that publication. I think I said either in the video or in comments section below the video that I'm "not" saying the price action will play out exactly as depicted in that "example." It was "only" intended as an example of a Wyckoff Accumulation Schematic #1.
If anyone is asking what must NOT occur for this schematic to come to pass, I would say, we must NOT fall BELOW $2,868.65. If we fall below $3,122 WHILE staying above $2,868.65 on this next trip down, there's a good chance THAT move down may likely be our Wyckoff Spring and our accumulation is completed. Which would mean it will likely go up with a Sign of Strength to test $6k shortly after a move below $3,122 WHILE STAYING ABOVE $2,868.65.
I'm leaning more towards a drop below $3,122 not occurring until some time in August or September (shortly after the Litecoin Block halving) just as we did after the LiteCoin Block Halving in 2015. However, with the creation of OTC exchanges in 2018, this allowed large interest to accumulate large blocks of crypto much easier than in the past on retail exchanges. Which could explain a Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving. Also, the fact we have falling well below the 200-EMA on the Weekly in 2019 more so than where we were in 2015 could also be a reason for a potential Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving.
So yes, there are arguments that can be made to potentially support a Wyckoff Spring occurring just BEFORE the LiteCoin Block Halving. If we DO NOT fall below $3,122 on this next drop BEFORE the LiteCoin Block Halving and still go up for another Simple Rally to the Preliminary Support Range (around $4,200), we will likely fall back down for our Wyckoff Spring on that drop down to test support. That's also when I would expect a drop just below $3,122 WHILE REMAINING ABOVE $2,868.65.
Let me know if you would rather I created a video publication for it if this is not coming across in a way that can be easily understood. I'm not sure if I'm getting my point across or not.
A move substantially below $2,868.65 would INVALIDATE that schematic and also confirm we were still in "Distribution."
