Weekly Indicators Still Look Bullish in My Opinion
Yes, we will have a little dip in the near term. Possibly, to around $3,550. However, we still look bullish in the indicators on the Weekly TF in order to have a run up to approximately $4,100. Which see:
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Update with 8h TF: You will see lines I've drawn for possible future trek of the pertinent lines within the indicators. The indicators still suggest we're still experiencing downward pressure a bit longer.
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One more reminder with the 2-Day TF:
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Daily TF:
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Here's a look at the 100-Day EMA in the Daily back in 2015; which "confirmed" we were "officially" in "accumulation."
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More in-depth look at 2015 Wyckoff "Accumulation" Schematic...
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Image of Wyckoff Accumulation Schematic #1: i.imgur.com/gcrmXTd.png
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Present Day Wyckoff Accumulation Schematic #1:
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More information of Wyckoff Method here: stockcharts.com...school/doku.php?id=chart_s...
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Next potential target before pull-back to test local support at $3,755.76. The target is $3,920.22 at the 0.786 FIB.
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2-Day TF:
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Pardon so many updates lately... I simply thought it's important TO BE CLEAR ABOUT SOMETHING:
I'm simply pointing out the following:
In order to CONFIRM we are OFFICIALLY in a Wyckoff Accumulation Schematic, we need to run up to the 50-EMA in the 2-Day or the 100-EMA in the Daily for that confirmation. Does this mean we ONLY go up to those EMA's? NO.... We may likely go a bit higher before reaching exhaustion and finally come back down to Test Support. We may likely see another week of upward pressure as a whole. Yes, there will be little dips on the way up but we are still experiencing upward pressure for the mid term.
Have a look at the Weekly:
I'm simply pointing out the following:
In order to CONFIRM we are OFFICIALLY in a Wyckoff Accumulation Schematic, we need to run up to the 50-EMA in the 2-Day or the 100-EMA in the Daily for that confirmation. Does this mean we ONLY go up to those EMA's? NO.... We may likely go a bit higher before reaching exhaustion and finally come back down to Test Support. We may likely see another week of upward pressure as a whole. Yes, there will be little dips on the way up but we are still experiencing upward pressure for the mid term.
Have a look at the Weekly:
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As you can see, we came right up to that 0.786 FIB at $3,920.32 like a champ before we began our "pause."
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Do you note how we came up to the 0.786 FIB at $3,710.96 on our first pump up? That's how I determined it was likely we see similar on the way up for our next pump towards the 50-EMA in the 2-Day TF.
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POSSIBLE future trek of the price action in the Daily:
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Those who have followed me a while know I like using the 6h a lot. I also like to cut that in half to look at the 3h as well. The 6h was definitely approaching exhaustion. It was more clear in the 3h; which see:
This is only a "breather" for now. I'm still expecting us to run up to the 100-EMA in the Daily TF eventually. The 100-EMA is currently around $4,080
This is only a "breather" for now. I'm still expecting us to run up to the 100-EMA in the Daily TF eventually. The 100-EMA is currently around $4,080
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I'm about to do another BTCUSD VIDEO PUBLICATION after I make a pot of coffee. Before I do, I wanted to share this chart of Bitcoin History from Beginning to Present Day Using Wyckoff Method with New Followers. All of my old followers are already familiar with this chart:
Here's a close up of Present Day:
EXAMPLE of Wyckoff Accumulation Schematic: i.imgur.com/dCfs8eg.png
Brief Video Explanation of Wyckoff Accumulation Schematic for Phases A through Phase D. Phase E is not mentioned in this video publication:
Now, time to make a pot of coffee then get to that NEW Video Publication to cover my thesis of us currently in a Wyckoff Accumulation Schematic and provide SUPPORT for that thesis.
Here's a close up of Present Day:
EXAMPLE of Wyckoff Accumulation Schematic: i.imgur.com/dCfs8eg.png
Brief Video Explanation of Wyckoff Accumulation Schematic for Phases A through Phase D. Phase E is not mentioned in this video publication:
Now, time to make a pot of coffee then get to that NEW Video Publication to cover my thesis of us currently in a Wyckoff Accumulation Schematic and provide SUPPORT for that thesis.
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