WyckoffMode
Long

Explanation WHY Upward Pressure May 25th or 26th Using Daily TF.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We COULD come back down to around $9,175 before finally turning back upward for sustained (long term) upward pressure. Meaning, we COULD be in a relatively tight trading range at the moment between $9,300 and $9,175 before we finally turn upward to sustained upward pressure May 25th or May 26th, 2020. Don't forget; I will following up with another video on the White Energy and Red RSI in the Weekly Time Frame once we have a new Weekly Candle in approximately 14 hours. I may not post a video immediately. It could be 12 hours after the close of the Weekly and a NEW Weekly Candle begins.

P.S. - Right now may not be a bad idea for dollar cost averaging...

Stay Awesome!

David
Comment: The Weekly Time Frame to show you what I'm looking for on the next Weekly Candle in less than 14 hours:
Comment: Update using the 90 Minute Time Frame:
Comment: When downward pressure is about to occur in ANY time frame, it can be difficult some times to know for sure how the price action will react to that up coming downward pressure. If you note in the 90 Minute TF chart just posted, the Green Line is currently angled downward. Will it CLOSE still angled downward? Hard to say just yet unless we had a look at lower time frames and a little higher time frames. I just wanted to point out a BRIEF period of downward pressure could be approaching soon.
Comment: Posting a LOGICAL comment from comments section with a chart:

iamthree
an hour ago
@WyckoffMode, you did a great job of hyping the weekly close ...
some people get excited for a movie to be released ...
others get excited watching there favourite sports team play ...
after around a year or so watching the BTC charts I get excited by weekly and monthly candle closes :)
trading is life and life is good :)
I just want to add another file in your case for the bulls
on the weekly the 15ema is above the 30 ema while also pointing up !
the 30 ema is above the 50 ema
and the 50 ema is above the 200 ema

this all major ema levels i watch are in a BULLISH posturing currently ?
I would at least wait for the 15 ema to close below the 30 ema to consider beginning to feel bearish personally

to me this ema pattern or posturing IS LITERALLY AS BULLISH AS THEY CAN GET LOL
not saying that i am long with leverage
but still if i was to enter a short position it would only be for "minutes" scalping nothing more ...

there is also fundamental bullish news flying around about banks institutional investors as well as the save haven narrative

yes absolutely the bears will have there turn to push price action down
your green crossing your red as well as the energy crossing the 0 line
this takes place when the wave form crosses and starts to turn down

but that selling pressure or price action is mitigated / weighted against :

1:who controls the trend
the bulls are currently in control of the weekly trend
and that control is increasing !

2:the trend either bullish or bearish
the trend is currently as bullish as it could possibility be on the weekly time frame
as stated above the ema 15 > 30 which is > 50 which is > 200

I could personally do with a holiday as I have been working far to hard on things out of my control
and you know what if I was to turn of my computer and go camping for a week
at this point in time I would sleep like a baby expecting price action to be no lower than 8k when I returned 7 days form now ...

is there a big move coming yes
but at the same time
these moves take some times weeks to form
I am not worried about price action having a few red candles
sure it happens part of any natural market


Comment:
Comment: Comparing PRESENT DAY with example from April, 2019 using 24 hour time frame: I drew lines this time to show what I mean.

Comment: Update using the 90 Minute Time Frame:
Comment: 4 hours 40 minutes remaining in the current 12 hour candle. The next 12 hour candle may be the BEGINNING of a turning point.

Comment: Added a "Date Range" Tool to this 90-Minute TF present day and April, 2019 to provide an idea of how much time POTENTIALLY remains to see if my TA was correct.

90 minutes x twelve (12) 90 minute bars (candles) = 1080 minutes divided by 60 = 18 hours.