Updated
FTM: We Must Assume Bottom is Not in Yet in Phase C
Hi Everyone! I wanted to provide analysis for Alt-Coins before getting into Bitcoin. Why? Because I believe the indicators for alt-coins help provide a better understanding of WHERE we are on the MACRO.
I'm of the opinion we are in Phase C of Macro Accumulation. Have we seen the bottom yet in Macro Accumulation? Well, the indicators in the 2-Week, 3-Week, 4-Week, 5-Week and 6-Week suggest we are still in a period of downward pressure. Also, the Red Line in the 2-Week is already below White Level 30. The Blue Line is subject to fall below white level 30 the next 2-Week candle; which begins 7-Days from now. This means we are at serious risk of Stage-2 Expansion Down the next 2-Week candle. This is why I'm saying the bottom may not be in yet. We could see a Wyckoff Spring event; resulting in the price action falling as low as $0.1455 the next 2-Week candle or the next 2-Week candle after that.
If you are looking for a good time to accumulate (Buy Out Right for the purpose of taking off exchange), then be patient and wait for the Red Line and Blue Line to rise above White Level 30 in the 2-Week time frame. Does this mean you should not attempt accumulating coins on the potential push down approaching? No... In fact, I plan on trying to open a long swing position at or near the bottom of a potential future Wyckoff Spring event. However, it will be with relatively low leverage to avoid potentially getting liquidated.
I hope this publications was helpful. More publications will be coming periodically today and the days to come. I'm going to take a break before providing an update for ADA (Cardano).
Happy Trading and Stay Awesome!
David
2-Week, 3-Week, 4-Week and 5-Week time frames are the top four charts from left to right on the chart below:
I'm of the opinion we are in Phase C of Macro Accumulation. Have we seen the bottom yet in Macro Accumulation? Well, the indicators in the 2-Week, 3-Week, 4-Week, 5-Week and 6-Week suggest we are still in a period of downward pressure. Also, the Red Line in the 2-Week is already below White Level 30. The Blue Line is subject to fall below white level 30 the next 2-Week candle; which begins 7-Days from now. This means we are at serious risk of Stage-2 Expansion Down the next 2-Week candle. This is why I'm saying the bottom may not be in yet. We could see a Wyckoff Spring event; resulting in the price action falling as low as $0.1455 the next 2-Week candle or the next 2-Week candle after that.
If you are looking for a good time to accumulate (Buy Out Right for the purpose of taking off exchange), then be patient and wait for the Red Line and Blue Line to rise above White Level 30 in the 2-Week time frame. Does this mean you should not attempt accumulating coins on the potential push down approaching? No... In fact, I plan on trying to open a long swing position at or near the bottom of a potential future Wyckoff Spring event. However, it will be with relatively low leverage to avoid potentially getting liquidated.
I hope this publications was helpful. More publications will be coming periodically today and the days to come. I'm going to take a break before providing an update for ADA (Cardano).
Happy Trading and Stay Awesome!
David
2-Week, 3-Week, 4-Week and 5-Week time frames are the top four charts from left to right on the chart below:
Note
Note
UPDATE:I know it is tempting to open a long position due to seeing a POTENTIAL "higher-low" in the 3-Day time frame AT PRESENT. Do not assume it will "not" fall down further from current level. We do not have confirmation of bottom being in yet. Why? Because the Red and Blue lines in the 2-Week, 3-Week and 4-Week are not above level 30 and rising; also the Green Line and White Energy are not rising above level 50 yet in those time frames.
Note
UPDATE #2:Yes, it is possible to see price action run up to approximately $0.25 to set a potential bull trap before the next 2-Week candle begins.
To clarify: There is no confirmation bottom is in yet; as pointed out above. So, if you are planning to buy coins out-right for the purpose of accumulating and taking them off exchange; you can dollar cost average into the market (buy out-right); making sure not to use all your capital for that purpose at the current price level. We still have a decent change to fall down further.
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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.