BTCUSD: $38500 to $36700 Potentially Still in Play

Hi Everyone! Why am I saying, "Still potentially in play?" Because I mentioned in other social media on April 9, 2022 we could see the price action BEGIN to fall the NEXT 2-Day candle toward the White/Aqua Lower B-Bands in the 2-Day time frame. Well, same goes for this 3-Day time frame. The odds will be higher the NEXT 3-Day candle for us to fall to the White/Aqua Lower B-Bands if we are not already down there during the current 3-Day candle.

Comment:

UPDATE:

24-Hour Time Frame:

Green Text Bubble:
Green RSI might attempt to over extend upward toward the Blue 100-Day Moving Average
at $41,400. Which is just below the White Upper B-Band. Yes, there is a possibility to run
up a little higher to the Magenta 50-Day Moving Average at $42,010. Which is right at the
White Lower B-Band.

Red Text Bubble:
The Red RSI generally needs to be on the verge of crossing above Level 30 to have increased
odds to run up toward the Yellow B-Band Basis. Which is the 20 Moving Average. So, until
the Red RSI gets closer to Level 30, we can generally conclude the White Lower B-Band
is our current "ceiling" acting as Resistance. We need more time to pass to see if the Red RSI
may manage to be on the verge of going above Level 30.

Comment:

UPDATE:

Added an "aqua" text bubble:

Red RSI generally needs to be on the verge of rising above Level 10 to increase odds of running
up from the Aqua Lower B-Band to the White Lower B-Band. Simply pointing out a "chance" for
Green RSI to over extend upward with the price action even higher above Level 10.

NOTE how the Green RSI is currently over extended just above Level 10 and the price action is a
little above the Aqua Lower B-Band. The Green RSI may over extend even more upward close
to the Blue LSMA at Level 20. Which indicates halfway between the white lower and aqua lower
b-bands. Hence, Level 20 is "white/aqua" color combination.

We may have to wait until the NEXT 24-Hour candle before seeing more potential upward price
movement. Which means it would be a good idea to monitor the Short Term Group of time frames
(30-min. 60-min. 90-min. 2-hr. 3-hr. 4-hr. 6-hr. and 8-hr.).

Comment:

UPDATE:

8-Hour Time Frame:

The Blue LSMA may hold us back a while from rising above the
Yellow B-Band Basis (at $41,950) because the Blue LSMA still
has more work to do in order to rise above Level 30. If the
Blue LSMA can rise above Level 30, we will have increased odds
to see the price action rise up from the Yellow B-Band Basis to
the White/Aqua Upper B-Bands. So, we can conclude the Yellow
B-Band Basis in this 8-Hour Time Frame has fairly high odds of
acting as RESISTANCE until the Blue LSMA can manage to get on
the verge of rising above Level 30.

Comment:

UPDATE:

Current pressure races to determine if upward pressure continues or if we revert back to downward pressure. Those races are the following:

3-Hour White Energy against the 6-Hour Red RSI
4-Hour White Energy against the 8-Hour Red RSI

Comment:

UPDATE:

Current LOCAL Wyckoff Schematic:

Comment:

UPDATE:

We honestly do not know just yet if we are actually in accumulation -OR- are we still in Distribution. We need more time to figure out...

Here is an example of MULTIPLE "Up-Thrust/Last Point of Supply" events in Phase D. You can also have MULTIPLE in Phase E at times. But this one is Phase D "multiple" events back in 2018.