WyckoffMode

BTCUSD: Sideways Best or Downward Worst for Phase E Distribution

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Everyone! It appears to still be more favorable for a "Sign of Weakness" event in Phase E; potentially between $35K and $36K. If so, this will take a bit more time to play out. Downward pressure still continues. Which means, sideways at best or downward at worst with the price action during downward pressure. Yes, I'm still leaning more toward another "Sign of Weakness" event. It's POSSIBLE this could still be re-accumulation. However, if this is going to be re-accumulation, we would need to see the Red RSI and Blue LSMA in the "entire" Short Term Group of time frames rise above Level 50. I'm not seeing that being the case with the Red RSI in the 12-hour about to "close" below level 50 and trigger downward pressure.

Hope this publication was helpful... A moment of your time to click "like" would be appreciated. Really helps me out...

Happy Trading and Stay Awesome!

David
Comment: UPDATE:



Short Term Group of time frames (30-min. 60-min. 90-min. 2-Hour, 3-Hour, 4-Hour, 6-Hour and 8-Hour):


Near Term Group of time frames (12-Hour, 24-Hour, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week):


Mid Term Group of time frames (4-Day, 8-Day, 9-Day, 10-Day, 11-Day, 12-Day, 13-Day and 2-Week):


Long Term Group of time frames (8-Day, 15-Day, 16-Day, 17-Day, 18-Day, 19-Day, 20-Day and 3-Week):


Wyckoff Method 2.0 Schematic:


Diagonal Trend Line Chart using 3-Day Time Frame:

Comment: UPDATE:

Adding Alerts to Phoenix Ascending and Bad Ass B-Bands
Comment: UPDATE:

16-Day time frame (Each candle a period of 16-Days):

Of course, we would use LOWER time frames than the 16-Day to determine if the Green Line will be going UP or going DOWN during the "NEXT" 16-Day candle. See this Near Term Group of time frames.
Comment: UPDATE:

6-Hour Time Frame:

Blue Text Bubble:
I'm anticipating the 100-MA in this 6-hour TF
to act as resistance in the future "if" we were
to see another move up.

Gray Text Bubble:
Yes, we currently have upward Energy (momentum). However, if this
upward momentum is to have a "chance" to REMAIN for a SUSTAINED
period of time, the Red RSI needs to "close" above Level 50 and also
continue rising. Not only this, the Blue LSMA "better" rise above Level
50 with the Red RSI not longer afterward. Why? To promote even more
expansion of the B-Bands and the price action to rise with expansion
up to the Gray 200-MA (Moving Average).

Red Text Bubble:
Red RSI and Blue LSMA still have a lot of work to do
if we are to see the price action REMAIN above the
B-Band Basis for a SUSTAINED period of time in this
6-Hour time frame (TF). Why? Because the Red RSI
and Blue LSMA "both" need to rise above Level 50
and REMAIN above Level 50 for a SUSTAINED period
of time in order for the price action to REMAIN above
the B-Band Basis for a SUSTAINED period of time.
Comment: UPDATE:

Do NOT assume we are going up to $44,400 just because I point it out in the previous chart update. I'm pointing this out as a potential target (100-MA in 6-hour) "IF" we were to get another move up again.

If we are to get another move up again and REMAIN (continue) going up, we need the Red RSI and Blue LSMA in this "ENTIRE" Short Term Group of time frames to both rise above Level 50 and REMAIN above Level 50 for a sustained period of time.

Short Term Group (30-min. 60-min. 90-min. 2-hr. 3-hr. 4-hr. 6-hr. and 8-hr.):
Comment: UPDATE:

We have a NEW 12-hour, 24-hour, 2-Day, 3-Day, 6-Day and 9-Day candle beginning in approximately 50-minutes:

12-Hr. 24-Hr. 2-Day, 3-Day and 6-Day

9-Day:
Comment: UPDATE:

24-hour time frame:

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