BitcoinLong
BTC Has High Probability for 70 to 72 but May go Higher
Hi Everyone! I mentioned on another platform a couple of days ago, "I'm looking to see if the Red Line can make a U-Turn and go up from White Upper Level 70 in the NEXT 27-Day time candle." We are currently in the first day of that NEXT 27-Day candle and it appears the Red Line is making an attempt to go up from the White Upper Level 70 in my Phoenix Ascending True XCES (PA True XCES) indicator. This also means we have a high probability of rising up from the White Upper B-Band to the Aqua Upper B-Band around $70,000 to $72,000.
BE ADVISED: It's possible to continue rising up even higher to the Orange Upper B-Band between $85,000 and $88,500. If we do, we would be over-extended at that point. How so? Well, is the Red Line ready to go up from the Aqua Upper Level 90 or Orange Upper Level 100? No... Therefore, a move up to the Orange Upper B-band in the CURRENT 27-Day candle would be considered "over-extension up" and would likely indicate a bull trap. At which point, we would anticipate a significant pullback along with the stock markets in the U.S.
Here is the 27-Day time frame:
BE ADVISED: It's possible to continue rising up even higher to the Orange Upper B-Band between $85,000 and $88,500. If we do, we would be over-extended at that point. How so? Well, is the Red Line ready to go up from the Aqua Upper Level 90 or Orange Upper Level 100? No... Therefore, a move up to the Orange Upper B-band in the CURRENT 27-Day candle would be considered "over-extension up" and would likely indicate a bull trap. At which point, we would anticipate a significant pullback along with the stock markets in the U.S.
Here is the 27-Day time frame:
Note
UPDATE:
Added a Red Text Bubble; referring to historical data:
RED TEXT BUBBLE:
Note how the Red Line was on the verge of going up from White/Aqua Level 80 here. This showed we had "support within Phoenix Ascending" to go up with authority WITH SUPPORT.
Meaning, we would have high probability of support at Aqua Upper B-Band in the event of a pullback. We do NOT have this present day during the CURRENT 27-Day candle. Will we
have this support the NEXT 27-Day candle? Time will tell... I want to see what lower time frames look like as the NEXT 27-Day candle approaches approximately 3 weeks from today..
Note
UPDATE:
Here is the 2-Week Time Frame:
MAGENTA TEXT BUBBLE:
We generally need to see BOTH the Red and Blue Line above Magenta Level 60 in
this 2-Week time frame in order to have a high probability for a significant move to
the upside resulting in EXPANSION of the B-Bands and price action rising signficantly
with this expansion. Our Red Line is on the verge of going up from Magenta Level 60
but our Blue Line is not quite there yet. This is why I said what I said about us going
up to the Orange Upper B-Band in the 27-Day time frame would be a high probability
of OVER-EXTENSION and likely a bull trap if we go up to the Orange Upper B-Band
in the 27-Day time frame.
Note
UPDATE:
1-Week Time Frame:
WHITE TEXT BUBBLE:
NOTE: Red Line was going UP FROM White Level 70 here in this 1-Week time frame; resulting in price going UP FROM White Upper B-Band with EXPANSION of the B-Bands.
PRESENT DAY: We do not see the Red Line ready to go UP FROM White Level 70. Therefore, a significant move going up well above 70 to 72 thousand would have a high
probability of OVER EXTENSION; resulting in a significant pullback. I simply want you to guard your emotions if we see a significant move higher than 72,000.
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