One of the Two Following Scenarios Likely

The Magenta Scenario has the price action acting more as a TIME correction; while the Black Scenario has the price action acting more like a PRICE correction. I still believe most; if not all the month of September will be bearish before we evolve into a bull trend to last most all of Quarter 4, 2019 to test; if not surpass the All Time High (ATH) of $19,666. However, I do anticipate a pull back shortly after testing the ATH.

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Placed a Gann on top of the price action and slightly adjusted the two scenarios. THEN I added price points for each scenario.

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I used that Gann in an UN-orthodox way. I placed my 0.0 coordinate on a 1.618 FIB extension and my 1.0 coordinate on my Over All 0.38 FIB.

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I placed a GANN on top of my chart and placed possible price predictions with two scenarios. However, I used it a bit UN-orthodox in regards to the coordinates of the GANN in this particular presentation. What's IMPORTANT to remember is to keep an eye on the indicators in regard to the current DOWNWARD pressure we are experiencing. Which means these price projections could change if the price action goes beyond the predictions on the GANN while the downward pressure continues this week. Which is to say, "If the price action continues below the BLACK price point at $8,106.08, we will have another look at the lines within the GANN to try to find a bottom for the end of this week where we anticipate to have a reversal to upward pressure on or around July 30th.

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BitFinex "Long" Contracts just have not come down enough just yet. We still anticipate more downward pressure in the indicators to spook those in "Long" contracts to close and/or liquidate those contracts WHILE lulling in margin "Short" contracts just before reversal to upward pressure around the last couple of days of July or first couple days of August.

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Update using the Daily (24h) TF:

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Update using the 3-Day TF: Appears as though the downward pressure continues possibly through the weekend until Saturday or Sunday. We may know more once we a NEW 3-Day Candle begins tomorrow (July 27, 2019). The indicators will update on the creation of that NEW 3-Day Candle and may give us a better indication of approximately WHEN we will see a reversal to upward pressure.

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Hi everybody,

I’m currently at my parents home enjoying time with them. I haven’t spent quality time with them the past couple of months. Simply enjoying conversation while drinking wine and eating a seafood broil of shrimp, snow crab, mahi-mahi, corn on the cob, baked potatoes, etc...

The most valuable commodity in the universe is TIME. Enjoy valuable TIamE with family this weekend!

Stay Awesome!

David

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Enjoy “Time” is what I meant to say. lol

Had a bit too much wine already.

;)

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Not much of a significant difference in the short and long contracts since the last time I posted this chart three days ago. We likely still have more downward pressure to come. I'll likely give a video publication update later this evening or in the wee hours of the morning tomorrow.

Enjoy your weekend, Everyone!

Stay Awesome!

David

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Update for the office remodel:

In this photo you can see I already added the 1.5 inch thick backboard between the two base cabinets.  It's had two coats of paint/primer and a hole cut in to pass wiring through.  You can see I also attached a vesa compatible wall mount over the hole where my future PC build will be mounted and the wiring easily covered.

i.imgur.com/R6vZLzE.jpg

Here's the back of the 1.5 inch thick backboard between the two base cabinets to let you see how I attached it to each base cabinet.

i.imgur.com/tBIi7Hw.jpg

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Phrase For The Day: "Work Harder On Yourself Than You Do On Your Job."

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2-Day TF:

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If you work hard on your job, you can make a living.

If you work hard on yourself, you can make a fortune.

Let's work harder on ourselves than we do on our job.

Stay Awesome!

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SCRATCH BOTH OF THESE SCENARIOS. I DO NOT EXPECT EITHER ONE OF THESE TO PLAY OUT.