BitcoinUpdated BTC: IMPORTANT Cause Market Conditions Have Changed
Hi Everyone! This is important... Market Conditions have likely changed. The Red and Blue Lines have managed to rise above Yellow Level 50 in the entire short term group except for the 6-Hour time frame. However, the Blue Line may rise above Yellow Level 50 along with the Red Line in the NEXT 6-hour candle. When this happens, we have increased odds for the B-Bands to expand in the 6-hour; as well as price action rising WITH this expansion. Meaning, increased odds for increased volume is approaching AND this increased volume will be do to over powering BUYING pressing... NOT selling pressure.
The Red Line in the 12-hour will likely rise above Yellow Level 50 to trigger upward pressure before the White Energy in the 6-hour can fall below level 50 to create cause for downward pressure. We also have increased odds for expansion up in the entire Near Term and Mid Term Group of time frames.
Happy Trading and Stay Awesome!
David
The Red Line in the 12-hour will likely rise above Yellow Level 50 to trigger upward pressure before the White Energy in the 6-hour can fall below level 50 to create cause for downward pressure. We also have increased odds for expansion up in the entire Near Term and Mid Term Group of time frames.
Happy Trading and Stay Awesome!
David
Note
UPDATE:In regard to Wyckoff Method in conjunction with Phoenix Ascending:
Both Red and Blue Lines in the 2-Week time frame are above level 50; creating cause for Stage-1 Expansion Up in the 2-Week. Also, don't forget the Red Line closing above Yellow Level 50 in the 2-Week has triggered upward pressure that continues until the White Energy comes back down to level 50. Does the White Energy look like it even wants to come down in the 2-Week anytime soon? No...
Based on what we see in Phoenix Ascending in the 2-Week time frame; we must conclude the "odds" are quite high for us to continue seeing upward pressure for several more weeks; resulting in more expansion up. Therefore, the odds are quite high to continue with an Exponential Rally to Target Range #3 on the chart below.
What does an Exponential Rally in Phase B look like? Have a look at the Aqua Oval in 2019 on the chart below for an example:
Note
UPDATE:We need the White Energy in the 4-hour to get back above level 50 and rising to promote Stage-1 Expansion Up. 4-Hour is bottom left of center in chart below.
We need the Blue Line to get above Yellow Level 50 in the 6-hour to promote Stage-1 Expansion Up. The 6-hour is bottom right of center in chart below.
If we see those two things mentioned above occur, we are subject to be off to the races once again. Meaning, going up significantly once again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.