BTCUSD: Two Target Ranges This Period of Upward Pressure.
Hi Everyone! Simply took a few minutes to point out our potential target ranges for this current period of upward pressure we see in the 3-Day Time Frame. I'm of the opinion what we are currently experiencing is a shakeout just before legging up. Could I be wrong? Sure... I'm simply sharing what we are "currently" seeing within the indicators. Can the indicators fluctuate (change); resulting in another update to point out that change? Sure... I'll share more charts with comments inside text bubbles in multiple time frames over the next 24 hours.
This is labeled "LONG" for what I'm seeing in the Near to Mid Term Group of Time Frames. There is no TA in this publication for Scalping Group and Short Term Group of time frames.
Here is the publication chart again in case you have issues reading it:
This is labeled "LONG" for what I'm seeing in the Near to Mid Term Group of Time Frames. There is no TA in this publication for Scalping Group and Short Term Group of time frames.
Here is the publication chart again in case you have issues reading it:
Комментарий:
UPDATE:
Most of my followers are already familiar with what I'm about to say...
Yes, I do create target ranges in my own special way with a combination of FIB Extension Plots and my own Bollinger Band indicator. I prefer to create price ranges rather than one simple price.
If we have reached our first target range (1.618 FIB Extension Range) and the indicators in the 3-Day and other time frame indicate will still have upward pressure remaining; then I must respect the upward pressure revealed within the indicators and assume we have a chance to leg up a bit higher to the second target range (2.618 FIB Extension Range). Hence, the reason for two (2) target ranges. We simply do not know if this upward pressure continues to early May or middle of May. We must be patient and wait.
Most of my followers are already familiar with what I'm about to say...
Yes, I do create target ranges in my own special way with a combination of FIB Extension Plots and my own Bollinger Band indicator. I prefer to create price ranges rather than one simple price.
If we have reached our first target range (1.618 FIB Extension Range) and the indicators in the 3-Day and other time frame indicate will still have upward pressure remaining; then I must respect the upward pressure revealed within the indicators and assume we have a chance to leg up a bit higher to the second target range (2.618 FIB Extension Range). Hence, the reason for two (2) target ranges. We simply do not know if this upward pressure continues to early May or middle of May. We must be patient and wait.
Комментарий:
UPDATE:
My apologies for not being around to provide updates of "potential" changes in the market in order for us to consider alternate plans and trade setups in the event of those changes playing out.
You can see the 9-Day time frame (bottom right of center) in the in the still frame above. You will notice the Green EMA in the 9-Day was "UP" (at that time). It is currently "DOWN." I will create a video publication later this evening. My time is very limited at present...
My apologies for not being around to provide updates of "potential" changes in the market in order for us to consider alternate plans and trade setups in the event of those changes playing out.
You can see the 9-Day time frame (bottom right of center) in the in the still frame above. You will notice the Green EMA in the 9-Day was "UP" (at that time). It is currently "DOWN." I will create a video publication later this evening. My time is very limited at present...
Комментарий:
UPDATE:
3-Day TF:
3-Day TF:
Here is the text within the text bubbles for those who need to copy and paste for translation:
AQUA BLUE Text Bubble:
Let's assume our analysis is correct in regard to upward pressure continuing at least to the 3-Day Candle beginning 01 May '21.
Let's also assume the Bollinger Bands will continue to expand.
Let's also assume the body of each 3-Day candle in the price action will likely stay within the Orange/Aqua Upper B-Bands. Why?
Because the Red RSI and Blue LSMA are both above Level 70 "shortly after" the Red RSI and Blue LSMA both made contact with
the Green EMA "while" the Green EMA is going up; indicating upward pressure. Keep in mind of the "chance" for the price action
to "wick" up to the Red Upper B-Band as well.
WHITE Text Bubble:
If the upward pressure continues till around the 3-Day
candle beginning 01 May '21, the 1.618 FIB Extension
price range ($76,871.97 to $83,165.05) would be the
likely target range for this next leg up.
If the upward pressure continues till around the 3-Day
candle beginning 13 May '21, the 2.618 FIB Extension
price range ($97,807.90 to $107,975.96) would be the
likely target range for this next leg up.
GREEN Text Bubble (inside indicator):
I drew a "depiction" of my own personal opinion of the potential future trek of the White Energy,
Red RSI and Green EMA. It's too soon to say which 3-Day candle we could see a reversal from
positive Energy (Above Level 50) to negative Energy (Below Level 50) with our White Energy Plot.
However, I'm simply sharing my "opinion" this "positive" Energy has the potential to continue to
a date range between the 3-Day candle beginning 01 May '21 and the 3-Day candle beginning
07 May '21.