BTCUSD: Still Leaning Toward Continued Distribution

Updated

Hi Everyone! I'm still leaning more toward continued distribution until we can begin to see the Red & Blue Lines "both" rise up to and/or near level 20 in the 2-Week time frame. We still have quite a while before that has a chance of occurring in the 2-Week time frame in my opinion. Which see...

2-Week: Red Line still at level 12 with 3-Days 19-hours remaining in the current 2-Week before next 2-Week candle begins.

10-Week Time Frame:

Note

UPDATE:

Our Short Term Group (30m, 60m, 90m, 2h, 3h, 4h, 6h & 8h) were looking like we would have a pullback. Mainly in the lower time frames of the Short Term Group. Our Red Line in the 8-hour time frame just crossed above Level 50 about an hour ago. Closing above Level 50 means upward pressure continues until the White Energy falls down to level 50. Which means sideways at worst or upward at best during upward pressure.

Here is the 3-Day time frame:

5-Day time frame: The Red Line is above Level 30 and the Blue Line is above Level 20; indicating fairly good odds to go up to the B-Band Basis around $27,000.

Note

UPDATE:

Added a Green Text Bubble pointing out where $27,000 (white/aqua upper b-bands) would put us with a potential Up-Thrust/Last Point of Supply event in Phase D of Distribution:

Note

UPDATE:

2018 Distribution Period: You see we had an Up-Thrust; followed by a Higher Low; followed by an Up-Thrust/Last Point of Supply; before falling down further slowly over time.

2014 Distribution Period: You see we had an Up-Thrust; followed by a Higher Low; followed by an Up-Thrust/Last Point of Supply; before falling down further slowly over time.

Note

UPDATE:

Simply wanted to point out the price action came up to the white/aqua UPPER B-Bands in this 3-Day time frame for the Up-Thrust/Last Point of Supply in Phase D (event) in 2018:

Pointing out the price action came up to the white/aqua upper b-bands in the 3-Day time frame for the Up-Thrust/Last Point of Supply Events in Phase D and Phase E of 2014 Distribution:

The purpose for showing you the price action came up to the white/aqua UPPER B-Bands in the 3-Day time frame is because my 2021/2022 DISTRIBUTION chart is the 3-DAY TIME FRAME and we have a chance to run up to the white/aqua upper b-bands in the next two or three 3-Day candles.

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UPDATE:

CONCLUSION: We have a CHANCE to run up to to price range. However, I would not conclude the bottom is in at this point and assume we are in a Sign of Strength even in Accumulation. That could be a terrible mistake. I already pointed out (Using HIGH time frames) we still have a LOT of work to do with the Red and Blue Lines in the 2-Week, 3-Week, 5-Week and 10-Week time frames before we are able to see a more POSITIVE conclusion of Accumulation actually being underway. We are forced to conclude we are still in Distribution at present.

Note

UPDATE:

As mentioned in the video; the Green Line in the 3-Day time frame would need to come up < it has > for our "odds" to increase in regard to price action running up to the white/aqua upper b-bands. Why did I focus on the 3-Day time frame? Because my "2021/2022 Distribution Chart is using the 3-Day time frame to identify events and phases of distribution or accumulation. The 12-hour is best used to see periods of RE-Accumulation and/or RE-Accumulation.

Here's the 3-Day time frame:

2021/2022 Distribution Schematic (3-Day):

Note

UPDATE:

4-Day time frame:

ROYAL BLUE TEXT BUBBLE:

Red above Level 40 and Blue above Level 20 increased odds for price action
to run up to proximity of the yellow dotted b-band basis (20-MA). If the Red
Line can rise above Level 50 and the Blue Line rise above Level 30, odds will
increase for price action to run up toward the white/aqua upper b-bands.

AQUA TEXT BUBBLE:

Odds are increasing for white/aqua upper b-bands to be our
target range. Current price range = $28385 to $30880.
The b-bands are currently "decending." Meaning the price
of the white and aqua upper b-bands will likely be lower the
next 4-Day candle. This assumes the Green Line continues
rising and does not turn down the remainder of this candle
to the first day or two of the next 4-Day candle.

Note

UPDATE:

Weekly:

GRAY TEXT BUBBLE:
Our White Energy is quite high at present. Anticipate potential exhaustion either next Weekly candle
or the Weekly candle after that.

BLUE TEXT BUBBLE:
Red and Blue Lines are both very close to being above Level 20 together the next Weekly candle. This will increase odds for price action to run up to
the yellow dotted b-band basis; currently at $31,239 and descending. This could be similar to price action 16 July 2018

AQUA TEXT BUBBLE:
Price action ran up just above yellow dotted b-band basis.
This was an "Up-Thrust/Last Point of Supply Event in 2018.

Note

UPDATE:

10-Day time frame:

AQUA TEXT BUBBLE:
Let's not forget we have a NEW 10-Day candle beginning
in approximately 20 hours from this writing. We know our
White Lower B-Band has been acting as RESISTANCE.

How do we know?

The Red Line was not above Level 20 [At a minimum] with
the Blue Line above Level 10 [At a minimum]. Which means
any price movement above the White Lower B-Band at this
point would be considered "over-extension." So, the White
Lower B-Band was not passable during the "current" candle
without "over-extension." Therefore, we would consider the
White Lower B-Band as RESISTANCE during this current
10-Day candle.

Keep the levels previously mentioned in mind when the next
10-Day candle begins in approximately 20 hours. Why?
To determine if we require "over-extension" the next 10-Day
candle as well. Which would mean the White Lower B-Band
in this 10-Day time frame may continue to act as RESISTANCE
during the NEXT 10-Day candle.

Note

UPDATE:

Changed the 3-Day to 2-Day time frame on the 2021/2022 Distribution chart. Then added a Royal Blue Text Bubble.

ROYAL BLUE TEXT BUBBLE:
We have a new 2-Day candle beginning in approximately 20 hours.
We see the Yellow K-Line of the stochastic RSI (sRSI) above the
Magenta D-Line of the sRSI; indicating potential buying pressure.
Red Line is making contact with Green Line while Green Line is going
up; indicating upward pressure. Red and Blue Line are "both" above
Level 50 and rising along with the Green Line and White Energy both
above Level 50. This increases odds for Stage 1 expansion of b-bands
and price action to go up with this expansion of the b-bands.

Note

UPDATE:

1-Week Time Frame:

10-Week Time Frame:

8-Week Time Frame:

4-Week Time Frame may suggest for a CHANCE we are in accumulation. I'm not convinced of that yet; mainly for what we see in higher time frames; such as the 10-Week time frame. Here's the 4-Week:

WyckoffMode

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