Potential Trading Range of $9,350 to $10,800 for a While

I also discussed a little something I've learned with the indicators in the 12-Day TF in order to help others potentially avoid the same mistake I made in regard to WHEN a bottom is potentially found and we begin to see reversal to the upside. I'll follow up with more updates soon. I'm about to get some coffee and work on a video publication for ETH.

Happy Trading and Stay Awesome!

David

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A look at the POTENTIAL trading range for a little while:

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If you use the indicators I use and you are curious as to which time frames are used for different TYPES of trading, I created a post in that regard on bitcointalk. When you click the link, you need to WAIT for the page to load in order for it to finally navigate to the correct post. If you immediately try to scroll down once you click the link, you will be forced to scroll further down the page to look for it. So, if you simply wait for the page to load, it will get you to the correct post I'm referring to. It's the LONGEST POST on that page. bitcointalk.org/index.php?topic=5140...

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WOW... Margin Shorts were DESTROYED on BitFinex. Never seen this much of spread between the margin short and long positions on BitFinex.

BTCUSD (Top); BTCUSD Short Contracts (Middle); BTCUSD Long Contracts (Bottom):

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Have a look at November 1, 2015 through May 18, 2016. NOTE the first initial pump up to the HUGE wick in the 2-Day TF on November 1st. It was so overbought, it was only natural for the price action to fall back down to where it did. HOWEVER, it was also natural for the price to come back up the way it did to find actual support within a trading range of $365 to $465. I'm anticipating similar present day; in which the price action falls down relatively low after a HUGE short term pump by turning back up to SETTLE within the trading range I previously highlighted from $9,350 to $10,800.

Here's November, 2015 to May, 2016 as an example:

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I'm creating a publication for the following chart again for some who are still confused about where we are within a Wyckoff Accumulation Schematic.

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Added a bit more to the chart. This forced me to reduce the font size... Sorry...

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Here's the "StockCharts" link if you want it: school.stockcha...ts.com/doku.php?id=market_...

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The Daily (24h) is currently looking like we could see another episode of upward pressure. This does not necessarily equate to upward price movement; although it is certainly possible. It could only mean the price is held up a bit longer until October 30th or 31st.

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Excuse me... I thought that was the Daily. When in fact it is the 6h (360 minute). My bad...