BTC: Potentially Working Toward Phase D SIgn of Strength Event
Hi Everyone! It's looking like Bitcoin could be working towards a potential Sign of Strength event; which could carry us up near $40,000.
There would have to be some kind of major black swan event to force Bitcoin down to near $20,000 for a Wyckoff Spring event. Must we have a Wyckoff Spring in Phase C of MACRO Accumulation? NO... That is NOT a requirement; as mentioned in the video.
At the same time, it could be argued we have been in Phase D all along during a Descending Wedge Accumulation Schematic. What "event" in Phase D of a Descending Wedge Accumulation Schematic? That would be the period for our "Back-Up/Last Point of Support. Then we would need to see a Sign of Strength event transitioning us from Phase D into Phase E. Which would be this schematic below:
We get a new 2-Week, 3-Week, 6-Week and 7-Week candle in 2 days and 13 hours from this writing. Let's see what the 12-hour, 24-hour, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week time frames look like in another 2 days and 12-hours from this wiring. Why? To see if the odds are still high for upward pressure to continue with a Sign of Strength event.
2-W, 3-W, 4-W, 5-W, 6-W, 7-W, 10-W and 12-W time frames below:
Please Realize $31,277 (1.618 FIB Extension) will be a major hurdle to overcome. If we can "close" above the 1.618 FIB Extension, our odds of seeing a Sign of Strength event dramatically increases.
There would have to be some kind of major black swan event to force Bitcoin down to near $20,000 for a Wyckoff Spring event. Must we have a Wyckoff Spring in Phase C of MACRO Accumulation? NO... That is NOT a requirement; as mentioned in the video.
At the same time, it could be argued we have been in Phase D all along during a Descending Wedge Accumulation Schematic. What "event" in Phase D of a Descending Wedge Accumulation Schematic? That would be the period for our "Back-Up/Last Point of Support. Then we would need to see a Sign of Strength event transitioning us from Phase D into Phase E. Which would be this schematic below:
We get a new 2-Week, 3-Week, 6-Week and 7-Week candle in 2 days and 13 hours from this writing. Let's see what the 12-hour, 24-hour, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day and 1-Week time frames look like in another 2 days and 12-hours from this wiring. Why? To see if the odds are still high for upward pressure to continue with a Sign of Strength event.
2-W, 3-W, 4-W, 5-W, 6-W, 7-W, 10-W and 12-W time frames below:
Please Realize $31,277 (1.618 FIB Extension) will be a major hurdle to overcome. If we can "close" above the 1.618 FIB Extension, our odds of seeing a Sign of Strength event dramatically increases.
Comment:
UPDATE:
Here is the 6-hour and 8-hour.
MAGENTA TEXT BUBBLE:
When Red Line is "above" Magenta Level 60 and White Level 70; odds are higher for
the White and/or Magenta UPPER B-Bands to hold support. "Holding Support" implies
the candle in the afore mentioned time frames (6h & 8h) "CLOSES" at or above the
White and/or Magenta UPPER B-Bands. I'm simply pointing out "where" we can find
"support" if we were to see a pullback.
Here is the 6-hour and 8-hour.
MAGENTA TEXT BUBBLE:
When Red Line is "above" Magenta Level 60 and White Level 70; odds are higher for
the White and/or Magenta UPPER B-Bands to hold support. "Holding Support" implies
the candle in the afore mentioned time frames (6h & 8h) "CLOSES" at or above the
White and/or Magenta UPPER B-Bands. I'm simply pointing out "where" we can find
"support" if we were to see a pullback.
Comment:
UPDATE:
Near Term Group (12h, 24h, 2D, 3D, 4D, 5D, 6D and 1W):
MAGENTA TEXT BUBBLE:
When Red Line is "above" Magenta Level 60 and White Level 70; odds are higher for
the White and/or Magenta UPPER B-Bands to hold support. "Holding Support" implies
the candle in the afore mentioned time frames (6h & 8h) "CLOSES" at or above the
White and/or Magenta UPPER B-Bands. I'm simply pointing out "where" we can find
"support" if we were to see a pullback.
Near Term Group (12h, 24h, 2D, 3D, 4D, 5D, 6D and 1W):
MAGENTA TEXT BUBBLE:
When Red Line is "above" Magenta Level 60 and White Level 70; odds are higher for
the White and/or Magenta UPPER B-Bands to hold support. "Holding Support" implies
the candle in the afore mentioned time frames (6h & 8h) "CLOSES" at or above the
White and/or Magenta UPPER B-Bands. I'm simply pointing out "where" we can find
"support" if we were to see a pullback.
Comment:
UPDATE:
Here is what our 6-hour and 8-hour look like currently:
RED TEXT BUBBLE:
Red Line ais "above" level 50 "very early."
"Very Early" in regard to what?
White Energy and Green Line are both "rising" and "both"
are above Yellow Level 50 whilte rising.
REMINDER: Red Line above Level 50 "triggers" upward
pressure; which lasts for how long? Until the White Energy
returns back to level 50. Well, if the White Energy is still
rising "while" thre Red Line is above Level 50, we should
theoretically have several 6-hour candles with upward
pressure dominance. IMPLYING: Sideways at worst and
upward at best... Dangerous to short here.
BLUE TEXT BUBBLE:
INCrREASED ODDS for Stage-1 Expansion UP when "both"
Red "and" Blue Lines are "above" Yellow Level 50. This tells
us we have increased probability for a period of increased
buying pressure approaching.
WHEN DO B-Bands EXPAND???
WHEN the price action pushes against the AQUA B-Band. In
our case, it would be the Aqua UPPER B-Band; since "both"
the Red and Blue Lines are crossing above Level 50 together.
MAGENTA TEXT BUBBLE:
When Red Line is "above" Magenta Level 60 and White Level 70; odds are higher for
the White and/or Magenta UPPER B-Bands to hold support. "Holding Support" implies
the candle in the afore mentioned time frames (6h & 8h) "CLOSES" at or above the
White and/or Magenta UPPER B-Bands. I'm simply pointing out "where" we can find
"support" if we were to see a pullback.
Here is what our 6-hour and 8-hour look like currently:
RED TEXT BUBBLE:
Red Line ais "above" level 50 "very early."
"Very Early" in regard to what?
White Energy and Green Line are both "rising" and "both"
are above Yellow Level 50 whilte rising.
REMINDER: Red Line above Level 50 "triggers" upward
pressure; which lasts for how long? Until the White Energy
returns back to level 50. Well, if the White Energy is still
rising "while" thre Red Line is above Level 50, we should
theoretically have several 6-hour candles with upward
pressure dominance. IMPLYING: Sideways at worst and
upward at best... Dangerous to short here.
BLUE TEXT BUBBLE:
INCrREASED ODDS for Stage-1 Expansion UP when "both"
Red "and" Blue Lines are "above" Yellow Level 50. This tells
us we have increased probability for a period of increased
buying pressure approaching.
WHEN DO B-Bands EXPAND???
WHEN the price action pushes against the AQUA B-Band. In
our case, it would be the Aqua UPPER B-Band; since "both"
the Red and Blue Lines are crossing above Level 50 together.
MAGENTA TEXT BUBBLE:
When Red Line is "above" Magenta Level 60 and White Level 70; odds are higher for
the White and/or Magenta UPPER B-Bands to hold support. "Holding Support" implies
the candle in the afore mentioned time frames (6h & 8h) "CLOSES" at or above the
White and/or Magenta UPPER B-Bands. I'm simply pointing out "where" we can find
"support" if we were to see a pullback.
Comment:
UPDATE:
12-hour and 24-hour Time Frames:
NOTE: The Text Bubbles "read the same" as the 6-hour and 8-hour charts posted previously. All I have done is re-arrange the placement of the text bubbles and re-arrange the placement of the vertical time lines marking when we have increased probability of increasd buying pressure approaching; resulting in expansion of the B_Bands and price action going "UP" with this expansion.
12-hour and 24-hour Time Frames:
NOTE: The Text Bubbles "read the same" as the 6-hour and 8-hour charts posted previously. All I have done is re-arrange the placement of the text bubbles and re-arrange the placement of the vertical time lines marking when we have increased probability of increasd buying pressure approaching; resulting in expansion of the B_Bands and price action going "UP" with this expansion.
Comment:
UPDATE:
2-Day and 3-Day time frames below. All I have done is re-arrange location of text bubbles.
2-Day and 3-Day time frames below. All I have done is re-arrange location of text bubbles.
Comment:
UPDATE:
4-Day and 5-Day time frames below. All I have done is re-arrange location of text bubbles.
NOTE: Blue Line in 5-Day is approaching level 50; increasing probability for increased buying pressure approaching; resulting in expansion of the B-Bands. WHERE does the price action need to be within the B-Bands in order for B-Bands to EXPAND? The AQUA B-Bands. In our case; the Aqua UPPER B-Band. Price action is currently at the Aqua Upper B-Band and subject to begin expansion the NEXT 3-Day candle; which begins 1-Day and 5-hours from this writing.
4-Day and 5-Day time frames below. All I have done is re-arrange location of text bubbles.
NOTE: Blue Line in 5-Day is approaching level 50; increasing probability for increased buying pressure approaching; resulting in expansion of the B-Bands. WHERE does the price action need to be within the B-Bands in order for B-Bands to EXPAND? The AQUA B-Bands. In our case; the Aqua UPPER B-Band. Price action is currently at the Aqua Upper B-Band and subject to begin expansion the NEXT 3-Day candle; which begins 1-Day and 5-hours from this writing.
Comment:
UPDATE:
6-Day and 1-Week time frames:
NOTE: We get a NEW 6-Day candle in 4 and a half hours (4.5 hours) from this writing. The Red Line is already above Yellow Level 50. The Blue Line is approaching Yellow Level 50; with a high probability of going above level 50 in 4.5 hours; increasing the probability for expansion of the b-bands due to increased probability of increased buying pressure approaching.
The 1-Week time frame already has Red and Blue Lines above Yellow Level 50; resulting in high probability for expansion of the b-bands.
6-Day and 1-Week time frames:
NOTE: We get a NEW 6-Day candle in 4 and a half hours (4.5 hours) from this writing. The Red Line is already above Yellow Level 50. The Blue Line is approaching Yellow Level 50; with a high probability of going above level 50 in 4.5 hours; increasing the probability for expansion of the b-bands due to increased probability of increased buying pressure approaching.
The 1-Week time frame already has Red and Blue Lines above Yellow Level 50; resulting in high probability for expansion of the b-bands.
Comment:
UPDATE:
8-Day and 9-Day time frames:
Red Lines are above Yellow Level 50 in both the 8-Day and 9-Day time frames; triggering upward pressure; which can last until the White Energy returns to Level 50. However, we need the Blue Line to rise above Level 50 in both 8-Day and 9-Day time frames if we are to have increased probabilitiy for expansion lasting for a sustained period of time.
8-Day and 9-Day time frames:
Red Lines are above Yellow Level 50 in both the 8-Day and 9-Day time frames; triggering upward pressure; which can last until the White Energy returns to Level 50. However, we need the Blue Line to rise above Level 50 in both 8-Day and 9-Day time frames if we are to have increased probabilitiy for expansion lasting for a sustained period of time.
Comment:
UPDATE:
10-Day and 11-Day Time Frames:
Red Line in 10-Day has triggered upward pressure with 6-Days and 5-hours of upward pressure remaining in the current 10-Day candle. Blue Line is at Level 50; increasing probability for expansion of the B-Bands. The Red Line and Blue Line in the 11-Day still have a little more work to do in regard to getting above level 50. We get a new 11-Day candle in 3-Days and 5-hours. Let's see if the Red Line can trigger upward pressure in the NEXT 11-Day candle.
10-Day and 11-Day Time Frames:
Red Line in 10-Day has triggered upward pressure with 6-Days and 5-hours of upward pressure remaining in the current 10-Day candle. Blue Line is at Level 50; increasing probability for expansion of the B-Bands. The Red Line and Blue Line in the 11-Day still have a little more work to do in regard to getting above level 50. We get a new 11-Day candle in 3-Days and 5-hours. Let's see if the Red Line can trigger upward pressure in the NEXT 11-Day candle.
Comment:
UPDATE:
12-Day and 13-Day Time Frames:
We get an new 12-Day candle in 6-Days and 5-Hours. We get a new 13-Day candle in 5-Days and 5-Hours. Let's see what our White Energy looks like and what level the Red Line is in those time frames the NEXT candle. What matters PRESENT DAY is "will we see SUBSTANTIAL buying pressure launching us up near $40,000? Let's research more to see if we can determine probabilities.
12-Day and 13-Day Time Frames:
We get an new 12-Day candle in 6-Days and 5-Hours. We get a new 13-Day candle in 5-Days and 5-Hours. Let's see what our White Energy looks like and what level the Red Line is in those time frames the NEXT candle. What matters PRESENT DAY is "will we see SUBSTANTIAL buying pressure launching us up near $40,000? Let's research more to see if we can determine probabilities.
Comment:
UPDATE:
2-Week and 3-Week time frames:
Will the Red Line manage to rise above Level 50 the
next 2-Week candle in 1-Day and 4-Hours from this
writing? If it can, we have a "chance" for a sustained
period of upward pressure. Sustained for how long?
Until the White Energy returns to level 50. However,
you would not want to use this 2-Week time frame to
determine WHEN to close a long position.
Red Line and Blue Line are both already above level 50 in the 3-Week time frame. Also, the Red Line is crossing up above level 50 "early" while the White Energy has just begun to rise above level 50. This implies potential for upward pressure to remain for potentially several 3-Week candles. Yes, it's possible to see a pullback the next 3-Week candle. However, we are also anticipating a potential Sign of Strength event according to Wyckoff Method 2.0. This is why I'm also leaning more toward us potentially rising up to proximity of $40,000.
2-Week and 3-Week time frames:
Will the Red Line manage to rise above Level 50 the
next 2-Week candle in 1-Day and 4-Hours from this
writing? If it can, we have a "chance" for a sustained
period of upward pressure. Sustained for how long?
Until the White Energy returns to level 50. However,
you would not want to use this 2-Week time frame to
determine WHEN to close a long position.
Red Line and Blue Line are both already above level 50 in the 3-Week time frame. Also, the Red Line is crossing up above level 50 "early" while the White Energy has just begun to rise above level 50. This implies potential for upward pressure to remain for potentially several 3-Week candles. Yes, it's possible to see a pullback the next 3-Week candle. However, we are also anticipating a potential Sign of Strength event according to Wyckoff Method 2.0. This is why I'm also leaning more toward us potentially rising up to proximity of $40,000.
Comment:
UPDATE:
4-Week and 5-Week Time Frames:
Red and Blue in the 4-Week are already above Level 50; increasing probability for expansion of the B-Bands. However, we have to wait 22 more days for both the Red and Blue Lines to rise above level 50 in the 5-Week. But let me say this, "The Red Line is already above level 50 in the 5-Week; triggering upward pressure." We need the White ENergy and the Red Line to rise above level 50 the NEXT 5-Week candle.
4-Week and 5-Week Time Frames:
Red and Blue in the 4-Week are already above Level 50; increasing probability for expansion of the B-Bands. However, we have to wait 22 more days for both the Red and Blue Lines to rise above level 50 in the 5-Week. But let me say this, "The Red Line is already above level 50 in the 5-Week; triggering upward pressure." We need the White ENergy and the Red Line to rise above level 50 the NEXT 5-Week candle.
Comment:
UPDATE:
6-Week and 7-Week time frames:
6-Week time frame:
White Energy needs to rise above Yellow Level 50
the NEXT 6-Week candle; beginning 1-Day 4-hours
from this writing.
7-Week time frame:
We still have a while yet for the Blue Line to rise up to and above Yellow Level 50 to promote expansion of the B-Bands. We do get a new 7-Wek candle in 1-Day and 4-hours from this writing. This is when I'm anticipating us going up to the Magenta UPPER B-Band in the 7-Week time frame. The Magenta Upper B-Band is currently at $39,959. Not sure where it will be the NEXT 7-Week candle.
6-Week and 7-Week time frames:
6-Week time frame:
White Energy needs to rise above Yellow Level 50
the NEXT 6-Week candle; beginning 1-Day 4-hours
from this writing.
7-Week time frame:
We still have a while yet for the Blue Line to rise up to and above Yellow Level 50 to promote expansion of the B-Bands. We do get a new 7-Wek candle in 1-Day and 4-hours from this writing. This is when I'm anticipating us going up to the Magenta UPPER B-Band in the 7-Week time frame. The Magenta Upper B-Band is currently at $39,959. Not sure where it will be the NEXT 7-Week candle.
Comment:
UPDATE:
I'll be working on posting a new video update for Bitcoin after getting several new candles in several time frames mentioned in this publication posted a couple of days ago.
Such as the new 6-Week and 7-Week candles we just got today:
I'll be working on posting a new video update for Bitcoin after getting several new candles in several time frames mentioned in this publication posted a couple of days ago.
Such as the new 6-Week and 7-Week candles we just got today:
Comment:
7-Week time frame:
BLUE TEXT BUBBLE:
The Blue Least Squared Moving Average (LSMA) is at a similar level as what we saw just before the COVID Dump in February of 2020.
This is the main reason I'm not ruling out the "chance" for a Black Swan event; resulting in a pullback similar to what we saw in 2020.
RED TEXT BUBBLE:
The Blue Least Squared Moving Average (LSMA) is at a similar level as what we saw just before the COVID Dump in February of 2020.
This is the main reason I'm not ruling out the "chance" for a Black Swan event; resulting in a pullback similar to what we saw in 2020.