We are still obviously continuing with downward pressure for the Near Term (Daily, 2-Day, 3-Day and 4-Day Time Frames) with a FIB Re-Trace Price Target Range from $293.75 to $320.00 (0.618 FIB Retrace). ... https://www.youtube.com/watch?v=Gx81pWcrfqE
Hi Everyone! I've been using the Double Time Frame Cascade Rule for quite some time. This rule as "cascaded" all the way up to the 2-Day White Energy and 3-Day Red RSI at present. We need the White Energy in the 2-Day to cross ABOVE the 50% level BEFORE the Red RSI in the 3-Day closes BELOW the 50% level in order to confirm a chance for a reversal to sustained upward pressure.
The Red RSI in the Daily (24h) has made contact with the Green Line WHILE the Green Line is going up; indicating upward pressure. However, this does not necessarily mean reversal to sustained upward pressure has begun just yet. Can one begin accumulating some bitcoin now and have a stop loss in place just in case? Sure, if one wishes to do that, they may. I recommend dollar cost averaging at the current price level anyway. Be sure to leave some capital available just in case we drop down to or near the 21-Week EMA around $8,550 before reversal takes place. If we do end up breaking out above $10,500, you can consider using remaining capital to buy in.
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https://www.youtube.com/watch?v=xkQBEhAyrXM
Hi Everyone! Appears we have an excellent chance for a significant move to BEGIN the "next" 9-Day candle; which begins in 8-Days and 9-hours. In order for upward pressure to continue for the NEAR Term, we need the Red RSI in the 4-Day to close above Level 50 to trigger upward pressure BEFORE the White Energy in the 2-Day can come down below Level 50 to trigger downward pressure. If you want to determine the likelihood of that occurring AS IT PLAYS OUT, you can monitor the Short Term Group of time frames to see if this will come to pass.
I'm labeling this a "Long" position for what we see in the Near, Mid and Long Term Group of time frames; PROVIDING we can get the Red RSI -AND- the Blue LSMA to "both" get ABOVE Level 50 in the 2-Day, 3-Day and 4-Day time frames along with the other time frames in the Near Term GROUP of time frames.
Happy Trading and Stay Awesome!
David
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https://www.youtube.com/watch?v=4PIVhO3dcD8
Hi Cardanoins! Don't lose hope... It's still there in our Macro, Long and Mid Term Group of time frames. A couple of weeks ago it was the Blue LSMA in the 2-Day time frame holding us back from a chance of upward pressure remaining for a significant period of time. Of course, this recently changed to the 3-Day Blue LSMA being the culprit holding us back from seeing upward pressure for a significant period of time. It would be "wise" to wait for the Blue LSMA in the 3-Day to get above Level 30 with the Green EMA going UP before even considering opening a Margin Long Position that you intend to keep open for a lengthy period of time. Would it be okay to ACCUMULATE (buy outright) coins while blood is in the streets; using dollar cost averaging until the Blue LSMA in the 3-Day can get above Level 30 with the Green EMA going "up?" Sure... There is still time to accumulate if you have not done so already or simply want to add to your bags. Mainly because of the potential for upward pressure to "resume" in the Macro, Long and Mid Term Groups of time frames.
From now on, please be careful of opening margin long positions (with the intent of keeping it open a lengthy period of time to the Buying Climax) if the Blue LSMA in a particular time frame appears to be HOLDING US BACK from increased odds of significant upward pressure for a lengthy period of time. If we have a Blue LSMA holding us back like that and you wish to open a margin long, be mindful of not being greedy and take profit rather quickly on a move up until the Blue LSMA can get above Level 30 with the Green EMA going UP in the 3-Day time frame.
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https://www.youtube.com/watch?v=4l3cDJIFIwI
Hi Everyone! The Blue LSMA in the 2-Day is finally making it above Level 50 along with the Red RSI to promote expansion of the B-Bands (As long as the Green EMA is going UP). Red RSI is currently above Level 50 in the 4-Day time frame. If the Red RSI closes above Level 50 in the 4-Day time frame, we know upward pressure will continue until the White Energy comes back down to Level 50 to trigger downward pressure. We also see potential for the Blue LSMA in the 8-Day time frame to rise above Level 50 to trigger expansion of the B-Bands and price action going UP with that expansion BEFORE the White Energy in the 4-Day can come down below Level 50 to trigger downward pressure. The odds are still quite high for upward pressure to continue for the Near, Mid and Long Term Group of time frames.
This publication is labeled a LONG position for the Near and Mid Terms because of what we are seeing fore the Near and Mid Term Groups of time frames. Yes, we may currently have downward pressure in the Short Term Group of time frames. However, I believe the Short Term downward pressure will remain in the Short Term Group and not advance up to the Near Term Group of time frames. My opinion of course... We'll see...
Happy Trading and Stay Awesome!
David
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https://www.youtube.com/watch?v=wGuO5wtHbWk
Hi Everyone! Looks like we have a POSSIBLE "shakeout" to the Yellow B-Band BASIS in the 2-Day Time Frame before potentially resuming upward pressure still visible in the higher time frames (9-Day, 12-Day and 2-Week). However, the current 2-Day candle still has approximately 30 hours remaining before closing. It appears we have a decent chance of the price action remaining around the White UPPER B-Band in the 2-Day TF before potentially falling to the Yellow B-Band BASIS in the 2-Day (Shakeout) before resuming upward pressure. I will follow up with screenshots after I finish cooking and eating some deep fried chicken thighs with rice and a couple of vegetables.
Happy Trading!
Stay Awesome!
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https://www.youtube.com/watch?v=BEQZ8s0gmCE
Hi Everyone! We have a look at the indicators on this chart in the 9-Day, 6-Day, 4-Day, 3-Day, 2-Day and 24-hour time frames. We see increased odds for even more expansion of the B-Bands and price action going UP with this expansion in the 9-Day time frame and higher. Therefore, we know upward pressure continues. Which means the price action can go sideways within a trading range at worst or upward at best; if you are in a long position. If we go upward at best, then we are looking at the 1.0 FIB at $78,734.68 being an area for "PAUSE" before resuming expansion up to the 1.618 at $106,161.02 or even as high as the 2.618 at $150,540.21.
This publication is labeled a LONG position for what we see in our higher time frames. Nothing in this publication was pointing out what may occur for the Short and Immediate group of time frames.
We will continue to monitor this period of upward pressure to try to make a determination of when exhaustion may be on the verge of creeping in. Hope this publication was helpful.
Happy Trading and Stay Awesome!
David
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https://www.youtube.com/watch?v=uW8dt9Jtdeo
Hi Everyone! Hope all of you are well today. We have already hit my 4-Day Target of the White Lower B-Band in the 4-Day TF in my previous publication posted November 2, 2020. It appears we may continue to see more downward pressure until potentially mid November, 2020. Since the Red RSI in the 2-Day is below level 50; we are at risk of the price action falling down to the Aqua/Orange Lower B-Bands in the 2-Day TF. My opinion in the video was to place the BULK of buy orders in between the White Lower and Aqua Lower B-Bands in the 2-Day TF (posted below). This is my OPINION of course.
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https://www.youtube.com/watch?v=p9dasAIfoeU
Hi Everyone! Remember, we are expansion hunters. Meaning, we look for Bollinger Bands that are CONTRACTED (tight). WHY? Because that may be an EXCELLENT opportunity to capitalize on upcoming EXPANSION of the B-Bands. Especially, if you have a pretty good idea of the direction (up or down) of the price action during that expansion of the B-Bands.
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https://www.youtube.com/watch?v=CuCL3RHd5-Q
Hi Everyone! It looks like we have POTENTIAL for a "BRIEF" DIP or a DUMP possible BETWEEN the last 12 hours of October 31 and the last 12 hours of November 1, 2020. You SHOULD watch this video. It's worth your valuable time in my opinion.
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https://www.youtube.com/watch?v=UUKDNuwyCRc