BTCUSD: Yes, Upward Pressure Continues; Usual Nuggets; Cheers
Hi Everyone! Hope all is well with you and thank you for deciding to invest a little of your time with this publication. As mentioned in a previous video publication, we could see a drop down and find support at the White UPPER B-Band in the 3-Day and 4-Day time frame. This was around $56,xxx at the time. We ended up falling a little below the White UPPER B-Band and the "body" of the red candle found "support" on the White UPPER B-Band before the "open" of a new candle that has resumed the upward pressure seen in the Macro, Long, Mid and Near Term Group of time frames. Let's see if we get a "Sign of Strength" (SOS) and Leg up to a higher high and establish a higher trading range with a Higher Low.
I'm leaning more towards the price action pausing momentarily at the 0.786 FIB and continue blasting through up to the 1.0 FIB or my 1.142 FIB between $85,xxx and 94,xxx. Bare in mind, this will take a little time to play out. It will not do it over night.
Happy Trading and Stay Awesome!
David
I'm leaning more towards the price action pausing momentarily at the 0.786 FIB and continue blasting through up to the 1.0 FIB or my 1.142 FIB between $85,xxx and 94,xxx. Bare in mind, this will take a little time to play out. It will not do it over night.
Happy Trading and Stay Awesome!
David
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UPDATE:
Macro Group:
Long Term Group:
Mid Term Group:
Near Term Group:
Short Term Group:
Macro Group:
Long Term Group:
Mid Term Group:
Near Term Group:
Short Term Group:
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UPDATE:
Remember, Even though the White Energy in the 12-hour is about to close above Level 50 BEFORE the Red RSI in the 24-hour can close below Level 50; we must check lower time frames to see if the Red RSI and Blue LSMA are above Level 50 in four lower time frames. We saw they currently are not. It did look like they were trying to begin the process in the 16-minute and 30-minute. However, we have a lot of work yet to do in the 6-hour and 8-hour. Don't be surprised if we continue within a relatively tight trading range until the Blue LSMA in the 11-Day is about to "close" above Level 50. I'm not really expecting this to have a chance of occurring until the 11-Day candle that begins on November 5, 2021.
Remember, Even though the White Energy in the 12-hour is about to close above Level 50 BEFORE the Red RSI in the 24-hour can close below Level 50; we must check lower time frames to see if the Red RSI and Blue LSMA are above Level 50 in four lower time frames. We saw they currently are not. It did look like they were trying to begin the process in the 16-minute and 30-minute. However, we have a lot of work yet to do in the 6-hour and 8-hour. Don't be surprised if we continue within a relatively tight trading range until the Blue LSMA in the 11-Day is about to "close" above Level 50. I'm not really expecting this to have a chance of occurring until the 11-Day candle that begins on November 5, 2021.
