BTCUSD: Upward Pressure May Continue to January 3rd to 5th Range
Hi Everyone! Simply wanted to take the time to point out our upward pressure has a CHANCE of continuing till the 3-Day Candle beginning January 4, 2020. However, do be aware the Market Makers have been known to pump or dump on Holidays. For example; they dumped on Thanksgiving Day and they pumped on Christmas Day. So, can they move the market all of a sudden and suddenly affecting our indicators big time? Yes, it's possible... However, if the indicators play out normally; like they would any other time that does not fall on a holiday, we may very well see upward pressure continue until some time between January 3rd and January 5th, 2020.
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We have yet to see a 30 percent or more pullback since our move up began in mid October, 2020. Therefore, we are still in our "Sign of Strength" (SOS) in Phase D. Once we see a pullback of 30 percent or more, we can say we are seeing our "Back-Up/Last Point of Support" (BU/LPS) in Phase D. THEN, once we go up SUBSTANTIALLY higher than the current high we are still working on with another "Sign of Strength" (SOS), we can finally see we have officially begun Phase E.
We have yet to see a 30 percent or more pullback since our move up began in mid October, 2020. Therefore, we are still in our "Sign of Strength" (SOS) in Phase D. Once we see a pullback of 30 percent or more, we can say we are seeing our "Back-Up/Last Point of Support" (BU/LPS) in Phase D. THEN, once we go up SUBSTANTIALLY higher than the current high we are still working on with another "Sign of Strength" (SOS), we can finally see we have officially begun Phase E.
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LTCUSD had a more complex TWO TIERED Accumulation Schematic that I call, "Wyckoff 2-Tier Accumulation Schematic / Row-1." Why "Row-1?" Because the majority of our ACCUMULATION occurred in ROW-1. Row-2 (The Upper Tier) was primarily used for LIQUIDATION purposes.
Bitcoin also had a TWO TIERED Accumulation Schematic. However, it would be called, "Wyckoff 2-Tier Accumulation Schematic / ROW-2" because the majority of the ACCUMULATION occurred in ROW-2 (The Upper Tier). Row-1 (The Lower Tier) was primarily used for LIQUIDATION purposes.
Wyckoff Accumulation and Distribution Schematics have become more complex in this new era of crypto currencies. Hence, the reason for me creating new schematics and calling this Wyckoff Method 2.0.
LTCUSD had a more complex TWO TIERED Accumulation Schematic that I call, "Wyckoff 2-Tier Accumulation Schematic / Row-1." Why "Row-1?" Because the majority of our ACCUMULATION occurred in ROW-1. Row-2 (The Upper Tier) was primarily used for LIQUIDATION purposes.
Bitcoin also had a TWO TIERED Accumulation Schematic. However, it would be called, "Wyckoff 2-Tier Accumulation Schematic / ROW-2" because the majority of the ACCUMULATION occurred in ROW-2 (The Upper Tier). Row-1 (The Lower Tier) was primarily used for LIQUIDATION purposes.
Wyckoff Accumulation and Distribution Schematics have become more complex in this new era of crypto currencies. Hence, the reason for me creating new schematics and calling this Wyckoff Method 2.0.
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Correction to the LTCUSD chart:
Correction to the LTCUSD chart:
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Bitcoin/US dollar:
Bitcoin/US dollar:
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LTCUSD one more time. I cleaned up this chart a little bit and made one more correction and addition:
LTCUSD one more time. I cleaned up this chart a little bit and made one more correction and addition:
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Forgot to add "Short Term Preliminary Support Range" (STPSR) - Identified with Yellow Dashed Lines and Yellow text bubble.
Forgot to add "Short Term Preliminary Support Range" (STPSR) - Identified with Yellow Dashed Lines and Yellow text bubble.
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If this upward pressure continues to some time between January 3rd and January 5th, 2021, it's hard to say WHERE it will take us. What's important is to keep an eye on Short and Near Term GROUP of time frames; with emphasis on the Near Term GROUP (24h, 2-Day, 3-Day and 4-Day).
If this upward pressure continues to some time between January 3rd and January 5th, 2021, it's hard to say WHERE it will take us. What's important is to keep an eye on Short and Near Term GROUP of time frames; with emphasis on the Near Term GROUP (24h, 2-Day, 3-Day and 4-Day).
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TO BE CLEAR: I'm NOT saying the price action is going to play out like this. I'm simply showing POSSIBILITIES...
TO BE CLEAR: I'm NOT saying the price action is going to play out like this. I'm simply showing POSSIBILITIES...
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Simply a little closer look:
Simply a little closer look:
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A look at the indicators in the 4h time frame:
A look at the indicators in the 4h time frame:
CORRECTION: I have a habit of typing 2020. I meant January 3rd to 5th, 2021. NOT 2020... However, I think everyone knew that... ; )