Looking at Mid Day March 9th to Mid Day March 10th for Reversal.
In a previous post in another publication, I pointed out I would prefer you to use the White Energy in the 6 HOUR Time Frame rather than the 3 Hour Time Frame to determine when this downward pressure is likely coming to a close. The following chart includes the 6 Hour (Left) and the 12 Hour (Right). I've drawn a line in the Phoenix 1.119 indicator to depict the possible future trek of the White Energy. You will also see a Vertical Time Line placed at possible location WHEN the White Energy potentially crosses ABOVE the 50 percent level. It's at that point WHEN our downward pressure has a good opportunity to reverse to upward pressure.
Bitcoin CME Futures 4 Hour Chart:
Bitcoin CME Futures 4 Hour Chart:
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This 6 hour chart shows how we could potentially see the 6 hour candle beginning mid day (12:00 UTC (LONDON) TIME) of March 9, 2020 as the candle in which we BEGIN our reversal to upward pressure. We MIGHT have to wait until the 6 hour candle that begins 18:00 UTC (LONDON) TIME.
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I'm about to get back to work on my Corporate Taxes due by March 15th. My sincere apologies for posting that previous publication with the dramatic title with catchy video. Terribly sorry if that misled people and/or potentially got some of you in a bind emotionally and/or financially.
I resolved not to trade while working on my Corporate Taxes until they are completed. I was actually sleeping when that dump began and did not worry about setting a "crossing up" AND "crossing down" alarm for the Red RSI in the 24 hour as well as a "crossing down" alarm for the white energy in the 12 hour. If I were trading, I would ALWAYS have alarms set to wake me up while sleeping AND to alert me if I'm awake as well.
I should have created ANOTHER publication before getting some sleep to EMPHASIZE how IMPORTANT the White Energy in the 12 hour and the Red RSI in the 24 Hour time frames actually were. They were VERY IMPORTANT... Yes, I "hoped" we would see the Red RSI in the 24 Hour pull through and come up to 56 percent or higher. However, HOPE is not to be relied upon when trading. Only actual facts revealed within the indicators are to be "relied upon."
So again, my sincere apologies for the dramatic title in a publication that was posted PRE-MATURELY. I will see to it that does NOT occur again.
I resolved not to trade while working on my Corporate Taxes until they are completed. I was actually sleeping when that dump began and did not worry about setting a "crossing up" AND "crossing down" alarm for the Red RSI in the 24 hour as well as a "crossing down" alarm for the white energy in the 12 hour. If I were trading, I would ALWAYS have alarms set to wake me up while sleeping AND to alert me if I'm awake as well.
I should have created ANOTHER publication before getting some sleep to EMPHASIZE how IMPORTANT the White Energy in the 12 hour and the Red RSI in the 24 Hour time frames actually were. They were VERY IMPORTANT... Yes, I "hoped" we would see the Red RSI in the 24 Hour pull through and come up to 56 percent or higher. However, HOPE is not to be relied upon when trading. Only actual facts revealed within the indicators are to be "relied upon."
So again, my sincere apologies for the dramatic title in a publication that was posted PRE-MATURELY. I will see to it that does NOT occur again.
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Unfortunately, those of you wanting publications for Alt-Coins will have to wait. I'm feeling pressure to get my Corporate taxes raped up. I have over 200 journal entries remaining in quickbooks before I'm finished. Yes, I procrastinated with my journal entries during 2019. I'm paying for it now with having to do all them as quickly as possible in order to have everything ready to give to my accountant. My accountant needs a couple of days minimum to do my taxes before March 15th.
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Something worthy of note with the White Energy in the Weekly Time Frame:
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August to November, 2015 1.618 FIB Extension Price Range Calculation:
Same concept here with the pump from August, 2016 to March 2017:
The following STUDY "assumes" $7,694.30 is the bottom:
Same concept here with the pump from August, 2016 to March 2017:
The following STUDY "assumes" $7,694.30 is the bottom:
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Expanded this last STUDY a bit more for easier viewing... Now I've GOT to get to work.
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IMPORTANT:
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Here is a PERSONAL NOTE I posted in the publication in which I PRE-MATURELY stated it was time for a breakout. My gut told me it was pre-mature to say that. Anyway, here is the personal note:
"IMPORTANT LESSON LEARNED: WHEN we are at a critical point that determines if we are to continue upward; such as the White Energy in the 3-Day crossing above -AND- CLOSING above the 50% level... the Red RSI in the Daily crossing -AND- CLOSING above the 56% level, WE MUST BE PREPARED TO TRADE IN ACCORDANCE WITH THE SIGNALS PROVIDED IN THE 6H, 12H AND 24H TIME FRAMES. This also means you MUST be willing to invest the TIME to wait and watch for when the bottom is likely in to be prepared to capitalize on the lowest possible re-entry. If one does not have the TIME to do this, they should simply resort to HODLING."
ADDED NOTE: We were anticipating a CHANCE for a "shakeout" before continuing up and the signals letting us know a "shakeout" was POTENTIALLY about to take place was the White Energy failing to cross above -AND- CLOSE above the 50% level in the 3-Day Time Frame culminated with the White Energy crossing down below the 50% level in the 12 hour time frame and the Red RSI failing to CLOSE at or above the 56% level in the 24 hour time frame.
BOTTOM LINE: This FORCES one to be willing to invest their TIME watching multiple time frames to help them AVOID missing out on a chance to trade accordingly if one is concerned about the price potentially falling dramatically. If this does not concern you, then you are obviously a HODLER/INVESTOR who is simply in the space with a long term investment because you believe/trust in Bitcoin and what it has to offer.
HELPFUL TIP: Practice setting up ALARMS for your indicators in MULTIPLE time frames. For example: One could have set a "crossing down" alarm for the White Energy in the 12h TF at 77 percent to PREPARE you for when the White Energy makes contact with the 50% level. A "Crossing Up" alarm for the Red RSI set at 56% in the 24h TF could have also been set. Once the White Energy in the 12h TF makes contact with the 50% level, one should look at the Red RSI in the 24h TF. IF the Red RSI in the 24h TF is NOT at or above 56 percent, then a chance for a decent drop is HIGHLY likely.
"IMPORTANT LESSON LEARNED: WHEN we are at a critical point that determines if we are to continue upward; such as the White Energy in the 3-Day crossing above -AND- CLOSING above the 50% level... the Red RSI in the Daily crossing -AND- CLOSING above the 56% level, WE MUST BE PREPARED TO TRADE IN ACCORDANCE WITH THE SIGNALS PROVIDED IN THE 6H, 12H AND 24H TIME FRAMES. This also means you MUST be willing to invest the TIME to wait and watch for when the bottom is likely in to be prepared to capitalize on the lowest possible re-entry. If one does not have the TIME to do this, they should simply resort to HODLING."
ADDED NOTE: We were anticipating a CHANCE for a "shakeout" before continuing up and the signals letting us know a "shakeout" was POTENTIALLY about to take place was the White Energy failing to cross above -AND- CLOSE above the 50% level in the 3-Day Time Frame culminated with the White Energy crossing down below the 50% level in the 12 hour time frame and the Red RSI failing to CLOSE at or above the 56% level in the 24 hour time frame.
BOTTOM LINE: This FORCES one to be willing to invest their TIME watching multiple time frames to help them AVOID missing out on a chance to trade accordingly if one is concerned about the price potentially falling dramatically. If this does not concern you, then you are obviously a HODLER/INVESTOR who is simply in the space with a long term investment because you believe/trust in Bitcoin and what it has to offer.
HELPFUL TIP: Practice setting up ALARMS for your indicators in MULTIPLE time frames. For example: One could have set a "crossing down" alarm for the White Energy in the 12h TF at 77 percent to PREPARE you for when the White Energy makes contact with the 50% level. A "Crossing Up" alarm for the Red RSI set at 56% in the 24h TF could have also been set. Once the White Energy in the 12h TF makes contact with the 50% level, one should look at the Red RSI in the 24h TF. IF the Red RSI in the 24h TF is NOT at or above 56 percent, then a chance for a decent drop is HIGHLY likely.
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6h and 8h Time Frames:
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In situations such as this, one is pretty much forced to make an entry WITH A STOP LOSS and rely on your stop loss to keep potential losses small and gains large. Which means you have to be willing to take risk. However, you are MANAGING your risk with a STOP LOSS.
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If the White Energy in the 6h time frame only goes up slightly above the 50% level and ultimately ends up coming back down again to trigger your stop loss, you simply take a MANAGED risk once again with a stop loss on the next time the opportunity presents itself in the indicators to implement a trade with MANAGED risk once again.
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When looking at the 8 hour time frame, there is a CHANCE of it coming down again.
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So, if you are willing to take a MANAGED risk with a stop loss, wait for the White Energy to cross above the 50% level in the 6h time frame. IF you wait for the White Energy in the 6h to CLOSE above 50%, it's possible the price may have ran up so much that you missed out on a better opportunity to get in at a lower price. I'm usually fine with taking a MANAGED risk once the White Energy crosses above the 50% level without waiting for it to CLOSE above the 50% level in this particular SITUATION. However, I generally have my stop loss VERY TIGHT in this circumstance when trying to get in at or near the bottom.
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If you can't stay glued to your computer, iPad or phone and want a notification of WHEN the White Energy crosses above the 50 percent level in the 6h time frame, you can set an alarm for the White Energy in the 6 hour time frame. MAKE SURE you are in the 6 hour time frame when setting it up. If you don't know HOW to set it up, then watch the following video:
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User named, Den_Str made a good point in viewers comments (below). His comment has me wondering if the White Energy manages to go above the 50% level in the 6h TF before such a potential move occurs. He's saying a stop loss may be better at $7,400. Which makes sense... I'm sharing that comment here:
"It is somehow doubtful that 7 694 is the bottom. Especially with such an incredibly attractive CME gap. It seems to me that if the price was going to go up after closing the CME gap at 7675, then it would make it one quick candle.
Why, in such a scenario, give so much time to the crowd to enter Long? So many hours the price walks 7800-900
Absolutely not surprised to see a picture where the price will soon go to 7400 at least. To knock out the stop of those who are now entering Long. Since most who are now entering, the stop is approximately there. And these stops need to be knocked out, why make such a gift at the close of CME?
This is not a significant drop for those who come in with a large deposit and a small leverage, but still.
This is by no means a trading advice."
"It is somehow doubtful that 7 694 is the bottom. Especially with such an incredibly attractive CME gap. It seems to me that if the price was going to go up after closing the CME gap at 7675, then it would make it one quick candle.
Why, in such a scenario, give so much time to the crowd to enter Long? So many hours the price walks 7800-900
Absolutely not surprised to see a picture where the price will soon go to 7400 at least. To knock out the stop of those who are now entering Long. Since most who are now entering, the stop is approximately there. And these stops need to be knocked out, why make such a gift at the close of CME?
This is not a significant drop for those who come in with a large deposit and a small leverage, but still.
This is by no means a trading advice."
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Magenta = 40-EMA; White = 200-EMA; Red = 300-EMA in this 3-Day Time Frame. We cannot rule out the Red 300-EMA in this 3-Day TF. The Red 300-EMA in the 3-Day is currently sitting at approximately $6,940.
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A look at the 40-EMA (Magenta); 200-EMA (White) and 300-EMA (Red) zoomed in a bit more:
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I need to get back to work on my taxes. Before I do I'm making one more post with the 40-EMA (Magenta); 200-EMA (White); 300-EMA (Red) and 440-EMA (Aqua) in this 3-Day Time Frame:
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We have a new 6h and 8h Candle. Neither are at 50% yet. You may want to hold off from entry when the White Energy in the 6h crosses above the 50% level and likely wait to see what occurs with the White Energy in the 8h TF.
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Red RSI in the 12h TF has passed below 44 percent. Which means we have passed from the 6h to the 8h to the 12h TF now in regard to which time frame we will use the White Energy to determine safest chance of entry for reversal.
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It's possible I may eventually have you delete your alarm you're about to set for the 12 hour TF and create an alarm in the 18h and/or 24h time frame(s).
If you don't know how to set an alarm for your indicator, scroll up to find the video I posted to show how to do just that.
If you don't know how to set an alarm for your indicator, scroll up to find the video I posted to show how to do just that.
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I say again for those just now getting here or who may have fell to sleep and just now waking up. We WERE waiting for the White Energy in the 6h TF to make it to the 50% level. THEN I had you wait for the White Energy in the 8h TF. THEN I had you sit and wait for the White Energy in the 12h TF to hit 50%.
If the Red RSI in the Daily (24h) "CLOSES" at or "BELOW" 44%, we will then move from the White Energy in the 12h to the White Energy in the Daily (24h) TF crossing above 50% before getting in. I'm simply trying to avoid getting in too early and potentially getting burned.
If the Red RSI in the Daily (24h) "CLOSES" at or "BELOW" 44%, we will then move from the White Energy in the 12h to the White Energy in the Daily (24h) TF crossing above 50% before getting in. I'm simply trying to avoid getting in too early and potentially getting burned.
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In the following chart we have the 6h (Far Left); 12h (Left of Center); 18h (Right of Center) and 24h (Far Right),
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A look at the 24h TF>
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In the coming HOURS and/or DAYS you will begin to understand why SOMETIMES my "estimated" DATE and/or TIME Range mentioned in a title or comment CAN CHANGE based on what we are seeing in the indicators in multiple time frames. This is another reason why it's important to pay attention to updates provided within the publication. To help you get notifications on updates added in comments section to a publication, you need to click the "Follow Idea" icon (It's to the right of the bull-horn symbol for "Sharing"). You may also need to go to your own public profile and click "SETTINGS." Then click NOTIFICATIONS to edit your "notifications" according to your preferences.
I still have a LOT of journal entries to make before my Profit/Loss Sheet and Balance Sheet are ready to give to my accountant. However, I will try to make the time to provide a VIDEO update in a few hours to explain a few more details about entry when reversing from downward pressure to upward pressure. Most everyone has only heard me mention rules in regard to reversal from upward pressure to downward pressure. So, what we will cover in the next video in a few hours will be interesting and worth your time to checkout.
Stay Awesome!
David
I still have a LOT of journal entries to make before my Profit/Loss Sheet and Balance Sheet are ready to give to my accountant. However, I will try to make the time to provide a VIDEO update in a few hours to explain a few more details about entry when reversing from downward pressure to upward pressure. Most everyone has only heard me mention rules in regard to reversal from upward pressure to downward pressure. So, what we will cover in the next video in a few hours will be interesting and worth your time to checkout.
Stay Awesome!
David
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6 Hour Time Frame: Having a look at custom Secondary 0.142 FIB level.
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A look at other SECONDARY FIB LEVELS from recent history...
I'm forced to adjust Fibonacci calculations due to this recent drop. I'll follow up with another chart soon to point out price target range on the move back up WHEN we have established a bottom by mid day of March 9th to mid day of March 10th.