BitcoinUpdated BTC: Distribution Has Not Gone Away Explained
Hi Everyone! Thought I would take several minutes to explain WHY Phase E of Distribution is still here and WHY we still have increased odds for Expansion Down in higher time frames; resulting in a Second Sign of Weakness (SOW #2) in Phase E of Distribution. Yes, we can have multiple "Sign of Weakness" events in Phase E. Look at BTCUSD 2014 Distribution period. That is a good example of multiple Sign of Weakness Events in Phase E.
If we do see another Sign of Weakness in Phase E, I would anticipate the price falling somewhere between $14,677 and $13,777. However, we do have potential to fall further. The next stop being $12,120 and the next stop after that would be $10,140'ish.
Bottom Line: We must begin to see the Green Line and White Energy rising above level 50 in the entire Mid Term Group of time frames. We also need to see the Red and Blue Lines both rise above Level 50 in the entire Mid Term Group before one can potentially definitively say, "We are no longer in distribution and officially in Accumulation. Well, we still have a LOT of work to do in that regard before we can make that kind of definitive statement in my opinion.
I hope this publication was helpful.
Please take a moment to click the rocket symbol to "boost" this publication and help it rise up to or near the top 4 crypto ideas. Your support would be appreciated.
Hope everyone had a merry christmas and will have a very happy new year.
Happy Trading and Stay Awesome!
David
Short Term Group of time frames:
Near Term Group of time frames:
Mid Term Group of time frames: < note the 12-Day in particular ( top left of center) >
Long Term Group of time frames:
Macro Group of time frames:
Super Macro Group of time frames: < 10-Week time frame (bottom right of center) looks like fairly high odds of going down to White Lower B-Band at $10,375 but would be less than $10,375 by the time it got down there. That's "if" it goes down there. Currently, the odds are still high for the price action to continue down with potential expansion approaching in lower time frames than the 10-Week.
2018 Distribution; 2019 to 2021 Accumulation and 2021 to 2022 Distribution:
2014 Distribution to point out when we had two (2) Sign of Weakness events in Phase E of 2014 Distribution. So, we can also have two (2) or more Sign of Weakness events in Phase E present day.
2014 Distribution using 12-hour time frame:
If we do see another Sign of Weakness in Phase E, I would anticipate the price falling somewhere between $14,677 and $13,777. However, we do have potential to fall further. The next stop being $12,120 and the next stop after that would be $10,140'ish.
Bottom Line: We must begin to see the Green Line and White Energy rising above level 50 in the entire Mid Term Group of time frames. We also need to see the Red and Blue Lines both rise above Level 50 in the entire Mid Term Group before one can potentially definitively say, "We are no longer in distribution and officially in Accumulation. Well, we still have a LOT of work to do in that regard before we can make that kind of definitive statement in my opinion.
I hope this publication was helpful.
Please take a moment to click the rocket symbol to "boost" this publication and help it rise up to or near the top 4 crypto ideas. Your support would be appreciated.
Hope everyone had a merry christmas and will have a very happy new year.
Happy Trading and Stay Awesome!
David
Short Term Group of time frames:
Near Term Group of time frames:
Mid Term Group of time frames: < note the 12-Day in particular ( top left of center) >
Long Term Group of time frames:
Macro Group of time frames:
Super Macro Group of time frames: < 10-Week time frame (bottom right of center) looks like fairly high odds of going down to White Lower B-Band at $10,375 but would be less than $10,375 by the time it got down there. That's "if" it goes down there. Currently, the odds are still high for the price action to continue down with potential expansion approaching in lower time frames than the 10-Week.
2018 Distribution; 2019 to 2021 Accumulation and 2021 to 2022 Distribution:
2014 Distribution to point out when we had two (2) Sign of Weakness events in Phase E of 2014 Distribution. So, we can also have two (2) or more Sign of Weakness events in Phase E present day.
2014 Distribution using 12-hour time frame:
Note
UPDATE:2021 to 2022 Distribution:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.