WyckoffMode

Not Out of the Woods Yet Until Next 12-Day Candle for Reversal

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We may not see reversal to SIGNIFICANT upward pressure until some time between October 7th and October 9th . I'll provide another update around October 3rd or 4th. Might provide another update sooner if something significant were to occur in the price action.

Happy Trading Everyone!

David
Sep 30
Comment: Bossindicators (In comments section below) had a good publication with estimate of $8,600 to $8,900 on this current leg up.

The BB (Bollinger Band) Median (Basis) suggests this:


The 12 TF suggests more upward pressure to continue; which see:

Sep 30
Comment: 6h TF:

Sep 30
Comment: 3h TF:

Sep 30
Comment: A look at the Daily (24h) and I'm getting a bite to eat. ; )

Oct 01
Comment: ALERT... ALERT... ALERT...

REVERSAL IS IN THE BAG THIS WEEK...

I WILL COVER WHETHER OR NOT WE HAVE ALREADY SEEN BOTTOM WITH A NEW VIDEO WITHIN THE NEXT HOUR OR TWO...

Oct 01
Comment: Look at the WHITE Vertical time lines for July, 2013 and Present Day... That's the hint. I'll cover it with a video to explain WHY THIS WEEK IS IT and we are heading onward and upward.

; )
Oct 01
Comment: What I mean by "Reversal is in the bag this week" is THIS WEEK will be the last week we witness Downward Pressure in control. It will be OBVIOUS upward pressure is in control next week.
Oct 01
Comment: BTCUSD - NEW VIDEO Publication posted 2 minutes ago. "ALERT - REVERSAL IN THE BAG NO LATER THAN OCT. 6th OR 7th."

Comments

I tell you, most of the people using are the ones using 1-hour and intra-day charts. Bitcoin is getting so much liquidity put into it, that one day it may trade like Forex... which is AN ABSOLUTE NIGHTMARE to trade because it barely moves... They have this cute name for the pathetically small movements in ForEx: PIP.

The only people that truly win consistently in ForEx are the banks and the big institutions and George Soros.

Bitcoin is getting harder to trade. But we're going UP in October, like you said.
+1 Reply
mightytrader mightytrader
* losing (not "using")
+1 Reply
WyckoffMode mightytrader
@mightytrader,

FX and Bitcoin can be traded if done so smart; with the right amount of leverage for the situation. I can't make a flat statement of a certain amount of leverage regardless of the market volatility, trend and type of trading one has time to do. It all depends... It also helps to be familiar with good indicators. ; )

It's not worth scalping bitcoin in very low time frames unless the market conditions are just right. Most trading is safer when using the 4h or 6h time frame or higher as a compass.
+1 Reply
mightytrader WyckoffMode
@WyckoffMode, I've been beaten pretty bad on 4hr & 6hr timeframes with Bitcoin. I use them, however, for entries and to time the market more precisely but only in context of a 2D and above charts. However, for micro-caps like PotCoin, VertCoin, et. al. those smaller timeframes work great and I can make 20% in a day or two when they are active.

I think Bitcoin will PUMP back to $9k-$10k and drain more of the alts with it.

You can trade ForEx, but they encourage leverage and small timeframe patterns. I want something with low liquidity and a bunch of fools thinking they are investing (like a penny stock) in order to trade low timeframes from 6hr to 5mins.. Bitcoin is too liquid, for me to take all but longer timeframe trades.
+1 Reply
mightytrader WyckoffMode
@WyckoffMode, The greater the liquidity the greater the NOISE. Because you have all these people trying to make money: The Market Makers that need to make money from the spread, the mini-Whales, the large-whales and the MEGA-Whales and the Institutions.

Whereas, if you have a small-cap and less liquidity... there's less noise... Just get in and get out. PUMP and DUMP very quickly... in other words: Wham-BAM, thank you MAM. =D

But with all the liquidity, you have the nuisance of time. Time is the institutions NUMBER ONE weapon. They trade Bitcoin and other instruments 24/7 with AI.

However, somethings like Penny Stocks... the whales have real threats like the SEC halting trading... so they have to act fast and the campaigns won't take more than a few days or MAYBE a couple weeks at most.

Bitcoin though... it can just range trade forever.... for years.... Not yet though... But it's headed in that direction like ForEx.

Trading ForEx currencies is too hard because there is no clear Whale to pinpoint his motivations.... And it's just an endless range-bound market... And it may take 10 years for a currency pair to move 20%. zzzZZZZZzzzzz
Reply
mightytrader WyckoffMode
@WyckoffMode, p.s. I SPENT nearly 10 hours between today & yesterday deciding whether to long or short Bitcoin. But I was able to come to my conclusion and filter out the noise based on a 2D and 3D chart. And I say 85% probability we are going UP this month. It might go back to $7k area but I'm not betting on that.
+1 Reply
We are in a BULL market. Just buy $100k of Bitcoin and you'll be fine. We are going UP from here. They might play more games and do some dumps to $7k area again, but it's essentially a guaranteed UP. Besides, Teeka Tiwari's career is at stake if he doesn't PUMP her higher.
+1 Reply
WyckoffMode mightytrader
@mightytrader,

Agreed... ; )
+1 Reply
how much weed did you smoke before coming up with this s**t
+1 Reply
WyckoffMode SharpShooter_
@SharpShooter_,

Obviously, not enough... Cause you could tell... ; )

ROFLMAO
+1 Reply
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