Bitcoin Analysis With dmwardjr DELETED AND LOCKED

[dmwardjr]

ALL CONTENT DELETED AND LOCKED.

Simply tired of the trolls in other threads.  If one wants to follow my analysis, it can be followed on Trading View.

Bitcointalk is not the place for analysis.  It's a valuable source to share and communicate on many other topics; but not for trading.

There's no means of creating charts here and/or tools for charts.  All of that can be done on Trading View.  There's no point sharing the same thoughts here as what I share on Trading View.

Good Day...

[eth9888]

Excellent stuff.

1. unfortunately I do not think more than 80% of people here would undersatnd what you're talking about. They just know "moon", "lambo" and "FUD". what you are presenting here is probably too complicated for them

2. you assume this is the accumulation phase, logically speaking (not looking at any chart), I would guess this price level $6.5K is still in the distribution phase. reason is, $6K is still way above level where most of the "whales" have accumulated their coins (below $2K) it still makes a lot of sense for them to take profit at this stage.
That's why I personally have a very bearish view and that is - btc will fall to around $1.5K-$3.5K where actual accumulation would begin.

3. I'd love to give you merits but I can't.

[Karartma1]

Thanks for your time man.
Will you suggest some sources for somebody like me who undestand shits of what you are talking about? I would like to get some basics on the matter. Feel free to reply via PM
Thanks

[darkangel11]

2. you assume this is the accumulation phase, logically speaking (not looking at any chart), I would guess this price level $6.5K is still in the distribution phase. reason is, $6K is still way above level where most of the "whales" have accumulated their coins (below $2K) it still makes a lot of sense for them to take profit at this stage.
That's why I personally have a very bearish view and that is - btc will fall to around $1.5K-$3.5K where actual accumulation would begin.

This is such a bullshit statement. Are you trying to say that before we hit for instance $2000 there were no whales willing to buy and those who bought earlier kept sitting on them without trading while the price was breaking every support level on its way to 20k? Trading is a continuous process and if you see huge volume, there are usually some whales selling and other whales buying. For every sold coin there has to be a buyer, and since coins are constantly being added to the pool, if the buyers and sellers are in equilibrium, those freshly mined coins are tipping the scales and pushing us down.

As for the OP's prediction, I don't rely purely on TA. BTC depends too much on the news for TA to explain everything. You can decide it's time to go long and the next day Mr. Kobayashi dumps 100 million $ in BTC.

[Karartma1]

Thank you very much! I'll begin studying over the weekend 

[figmentofmyass]

dmwardjr: thanks for your continued work here. i've been checking your thread regularly.

i've got a question regarding your expectation that we'll drop below $5920.72 on stamp within the current bearish channel. what signals would you look for to confirm that we won't be going below that level? (ie that the bottom is in)

[figmentofmyass]

dmwardjr: thanks for your continued work here. i've been checking your thread regularly.

i've got a question regarding your expectation that we'll drop below $5920.72 on stamp within the current bearish channel. what signals would you look for to confirm that we won't be going below that level? (ie that the bottom is in)

Hi Figment,

Thanks for following and joining the conversation.

Unfortunately, the indicators will not tell us what price it will go to.    Which is why we will have to pay close attention to the following time frames (TF's) [3h, 6h, 12h, 18h and 24h] to TRY to get an idea when the bottom is in the bag and a reversal appears to be obvious according to the indicators.

ah, that's what i'm getting at. i'm always looking for ways to confirm major swing highs and lows.

this is definitely not the kind of momentum (or lack thereof) i expected from a triangle consolidation breakdown, so i'm thinking maybe something else is happening.

Figment, are you a Trading View member?

i am, though i just chart there. i don't really share ideas or participate in the chat.

[fabiorem]

Interesting, the phase D is in August, and some predictions are poiting for a recovery in August.

That's why Im convinced the bottom will be now in July.

[figmentofmyass]

I'm still leaning towards this being our Spring. I was beginning to get worried if we didn't see something like we just saw with this pump to $6,400.

The Wyckoff Spring still isn't in the bag quite yet in regards to "CONFIRMED." We should expect a TEST of Support once more before going up. It's still POSSIBLE this could be a bull trap to load up some Margin Longs in the books; only to liquidate them later. So, be careful.

If you have not made entry yet, you might want to wait for a dip coming down. In other words, wait on a good dip when looking at the 4h or 6h TF's.

yep, this is sage advice, and exactly how i approach trading BTC now.

i find that action is much choppier now than years ago, and therefore i avoid catching knives in an attempt to catch the spring. rather, i wait for that first selloff attempt following the spring. once i see signs of bottoming on low time frames, i accumulate position and buy dips thereafter (as long as we haven't run my stops and shown weakness).

it's not as profitable as riding the spring, but it's less stressful and requires little babysitting. and that's important for me when longing in a bearish market. in an obvious bull market, i'm less careful.