BTC Has Higher Odds of Still Being in Distribution
Hi Everyone! We still see downward pressure. Especially, in the Mid Term Group of time frames and higher GROUPS of time frames. The 12-hour, 24-hour, 2-Day and 3-Day time frames still look bearish to me. The Blue Line is already below white level 30 in the 3-Day. We are waiting on the Red Line in the 3-Day to fall below White Level 30. We may see it BEGIN to fall down below white level 30 some time between October 22, 2022 and October 28, 2022. Bitcoin is simply taking a bit more time to execute a Sign of Weakness to transition out Phase D into Phase E than many other crypto currencies still in Distribution. Mainly because whales would like to accumulate Bitcoin on Alt-Coin/Bitcoin pairs before actually taking the price down on Bitcoin/USD pair.
The target range to me still appears as though we could see somewhere in proximity of the Orange 0.5 FIB Re-Trace at approximately $14,677.
Hope this was helpful...
Happy Trading and Stay Awesome!
David
The target range to me still appears as though we could see somewhere in proximity of the Orange 0.5 FIB Re-Trace at approximately $14,677.
Hope this was helpful...
Happy Trading and Stay Awesome!
David
コメント:
UPDATE:
BTCUSD: Same Chart... However, I changed it FROM the 1-Week to the 2-Week time frame. I'm pointing out the Red Text Bubble is important in the 2-Week time frame.
BTCUSD: Same Chart... However, I changed it FROM the 1-Week to the 2-Week time frame. I'm pointing out the Red Text Bubble is important in the 2-Week time frame.
コメント:
UPDATE:
BTCUSD 3-Week Time Frame:
BLUE TEXT BUBBLE:
We have increased odds for Stage 3 Expansion Down when the Red Line, Aqua/Blue Line and Green Line
are all going down below white/aqua Level 20. This usually results in another leg to the downside.
BTCUSD 3-Week Time Frame:
BLUE TEXT BUBBLE:
We have increased odds for Stage 3 Expansion Down when the Red Line, Aqua/Blue Line and Green Line
are all going down below white/aqua Level 20. This usually results in another leg to the downside.
BTCUSD: 1-Week Time Frame:
YELLOW TEXT BUBBLES:
If we want to have "increased odds" of rising UP FROM the Yellow B-Band Basis toward the White/Aqua UPPER
B-Bands for a SUSTAINED period of time, the Red Line needs to rise above Yellow Level 50 along with the Green
Line. If we want to see increased odds of an even longer period of SUSTAINED upward pressure; resulting with
EXPANSION of the B-Bands; the Aqua Blue Line must also rise above Yellow Level 50 along with the Red Line.
RED TEXT BUBBLES:
If the Red, Aqua/Blue and Green Lines are all coming DOWN [While ALL LINES are ALSO below Level 50, we have
increased odds for increased selling pressure approaching. Enough in fact to create cause for Stage 1 Expansion
of the B-Bands. This also means we have increased odds for Stage 2 EXPANSION of the B-Bands when "both" the
Red and Aqua/Blue Lines fall below White Level 30; resulting in a Sign of Weakness in Phase E of Distribution.