BitcoinLong
BTC: 10 Day TF Suggests Proximity of 95 to 100K Next 10 D Candle
Updated
Hi Everyone! Yes, you read the title correctly. The 10-Day time frame suggests upward pressure can continue the remaining 9-Days of the current 10-Day candle and upward pressure continue into the NEXT 10-Day candle. Which could take us up to within proximity of the Red Upper B-Band the NEXT 10-Day candle. I'm anticipating the Red Upper B-Band will be somewhere between $95,000 and $100,000 the NEXT 10-Day candle.
Here is the 10-Day candle I covered in the video:
We have a new 10-Week candle suggesting Orange Upper B-Band at a bare minimum at present. The current price point value of the Orange Upper B-Band in the 10-Week is $79,965.
Current Price Point of the Red Upper B-Band in the 5-Week TF is $87,250. We still have a little over 1-Month remaining in the current 5-Week candle with White Energy well above Level 50; suggesting upward pressure continues. It's too early to say anything about upward pressure the NEXT 5-Week candle. We need to wait and see what level the White Energy will be the NEXT 5-Week candle.
NOTE: The 1-Week time frame is in the top right corner of the chart below. See the current level of the White Energy in the 1-Week time frame approaching Yellow Level 50. We anticipate upward pressure to continue the remainder of the current 1-Week candle but we will have to see what level the White Energy will be the NEXT 1-Week candle. In my opinion, this suggests we could continue upward to proximity of $75,000 to $85,000 before seeing a pullback due to White Energy in the Weekly being on the verge of falling below Level 50 the NEXT 1-Week candle.
1-Week is in top right corner:
You will also note the White Energy is still rising in the 2-Day time frame at present. The 2-Day is located bottom right of center of the chart above.
CONCLUSION: I'm anticipating $75,000 to $85,000 at a minimum before a MAJOR pullback of 30 percent or more. However, if we see a pullback to around $65,000 and bounce back up once again, do not be surprised if we continue upward to $95,000 to $100,000 price range before finally getting that 30 percent or more pullback. Will that 30+ percent pullback imply the top is in and we begin a new period of Distribution? No... This Bull Market is far from being done yet. We've only begun in my opinion.
Hope this was helpful.
Happy Trading and Stay Awesome!
David
Here is the 10-Day candle I covered in the video:
We have a new 10-Week candle suggesting Orange Upper B-Band at a bare minimum at present. The current price point value of the Orange Upper B-Band in the 10-Week is $79,965.
Current Price Point of the Red Upper B-Band in the 5-Week TF is $87,250. We still have a little over 1-Month remaining in the current 5-Week candle with White Energy well above Level 50; suggesting upward pressure continues. It's too early to say anything about upward pressure the NEXT 5-Week candle. We need to wait and see what level the White Energy will be the NEXT 5-Week candle.
NOTE: The 1-Week time frame is in the top right corner of the chart below. See the current level of the White Energy in the 1-Week time frame approaching Yellow Level 50. We anticipate upward pressure to continue the remainder of the current 1-Week candle but we will have to see what level the White Energy will be the NEXT 1-Week candle. In my opinion, this suggests we could continue upward to proximity of $75,000 to $85,000 before seeing a pullback due to White Energy in the Weekly being on the verge of falling below Level 50 the NEXT 1-Week candle.
1-Week is in top right corner:
You will also note the White Energy is still rising in the 2-Day time frame at present. The 2-Day is located bottom right of center of the chart above.
CONCLUSION: I'm anticipating $75,000 to $85,000 at a minimum before a MAJOR pullback of 30 percent or more. However, if we see a pullback to around $65,000 and bounce back up once again, do not be surprised if we continue upward to $95,000 to $100,000 price range before finally getting that 30 percent or more pullback. Will that 30+ percent pullback imply the top is in and we begin a new period of Distribution? No... This Bull Market is far from being done yet. We've only begun in my opinion.
Hope this was helpful.
Happy Trading and Stay Awesome!
David
Note
UPDATE:2-Week time frame:
RED TEXT BUBBLE:
The White Energy is still RISING in this 2-Week time frame; suggesting we still have
quite a bit more time of upward pressure. Keep in mind this is a NEW 2-Week candle
with 13-Days and 5-hours remaining before we get another 2-Week candle. This
means we could see upward pressure continue for potentially up to 4-Weeks from
this writing.
Note
UPDATE:Thought I would share this chart from my video; in which I pointed out we could run up to the Red or Yellow ASCENDING Diagonal Trend Line Between $89,150 and $99,074. This "range" is identified with a YELLOW Ascending Diagonal Range on the chart.
Note
UPDATE:This was the chart I posted in other publications regarding us "closing" above $73,000 in the 3-Day before I begin using this chart for future "targets." I added the Aqua Ascending Diagonal Channel to this chart to point out we could be heading up toward the 1.236 FIB Extension. I must say I anticipate us heading up to my 1.142 FIB Extension at a bare minimum. My opinion of course...
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