BTCUSD High Odds in Favor We are Still in Distribution Explained

Updated

Hi Everyone! Following up with another Video publication to point out we have new candles for the 24-hour, 2-Day, 3-Day, 4-Day and 6-Day; which still look rather bleak in regard to a reversal to the upside. Instead, the indicators in many of the time frames in the Near Term Group suggest we have a chance for Stage 2 Expansion Down. Meaning, a chance for another episode of increased selling pressure volume resulting in B-Bands expanding again; as well as price action going DOWN with this potential upcoming expansion.

Hope this video is helpful...

Happy Trading and Stay Awesome!

David

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UPDATE:

Current 2021/2022 Distribution Period:

BTCUSD Bitstamp Simple Pitchfork with Fib Retracements Pulled Back View:

BTCUSD Bitstamp Simple Pitchfork with Fib Retracements Local Zoomed in View:

BLX Simple Pitchfork Pulled Back View:

BLX Simple Pitchfork Zoomed in View:

2018 Distribution; 2019 to 2021 Accumulation; followed by 2021/2022 Distribution:

Entire History of Bitcoin - Wyckoff Method - No Detailed Events Within Each Phase Described:

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UPDATE:

Near Term Group of time frames:

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UPDATE:

Made an "adjustment" on the "Entire History of Bitcoin..." Chart. I added the purple text bubble for Buying Climax in February 2021 and moved the Red and Yellow local text bubbles over to the right a bit.

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UPDATE:

The Daily (24h) and 2-Day time frames are emphasized in this chart. Keep a look out on BOTH the Red and Blue Lines going below white level 30 in the Daily and 2-Day.

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BTCUSD Near Term Group of time frames:

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1-Month Time Frame:

BLUE TEXT BUBBLE:

Red Line is already below White Level 30. The Blue Line is currently at Level 32.1.
This could spell bad news for another leg down. Meaning, we have high odds of
seeing a "Sign of Weakness" in Phase E event soon.

In history, the Green Line rising up and/or the Yellow K-Line rising above level 10
would manage to save the day. We could go to lower time frames than the this
1-Month time frame to see what was responsible for the Yellow K-Line rising above
level 10 in the 1-Month during those periods in history. We are currently watching
lower time frames than the 1-Month. Example: I've pointed out the Weekly tme
frame several times in the past couple of video publications. The Red and Blue Lines
in the Weekly are BOTH below white level 30 at this writing.

This time may be different than historical behavior. We are actually seeing the market
go DOWN "with" EXPANSION of the B-Bands in the 1-Month for the very first time.
Historically, this has been opposite in the 1-Month. You can see the B-Bands were
CONTRACTING while the market was going down when looking at historical price and
B-Band behavior.

We have a new 1-Month candle in 9-Days. Brace yourself... It's going to get volatile.

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UPDATE:

The last sentence of me last post stated the following: "We have a new 1-Month candle in 9-Days. Brace yourself... It's going to get volatile."

As you can see in the 6-hour; it has been volatile with a lot of UP and DOWN price movement in the 6-hour time frame. The trend has still been downward... Not upward...

If you are wondering where the MAGENTA DIAGONAL TREND LINE is coming from in the 6-hour time frame; I'm providing a "pulled back view" of the 6-hour (without b-bands) to show you.

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UPDATE:

NEW Trend Lines created for 6-hour time frame. Here is a Pulled Back View:

A little closer view of the Trend Lines in the 6-hour:

A more zoomed in view of Trend Lines in 6-hour time frame:

Zoomed in a bit more:

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UPDATE:

12-hour time frame:

BLUE TEXT BUBBLE:
Now we have a problem with the Blue LSMA in the 12-hour
being very low. Watch out the next 12-hour candle. The
Red Line may join the Blue Line the next 12-hour candle
by them both being below white level 30. Doing so would
increase the odds for price action to go further to the
downside with Stage 2 Expansion Down.

RED TEXT BUBBLE:
Red Line might fall below white level 30 the next 12-hour candle.

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UPDATE:

Simply cleaned up this chart a bit and added vertical lines for each phase of present day distribution period. This chart is simply a reference for those involved and/'or interested in Wyckoff Method.

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Made Correction: Changed "LPS" to "BU/LPS" event in Phase D for November/December, 2020 Accumulation:

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Simply posting present day Distribution Schematic for future reference:

WyckoffMode

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by WyckoffMode

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