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Author Topic: Godmode Technical Analysis  (Read 2744 times)
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dmwardjr
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June 25, 2019, 03:45:13 AM
Merited by exstasie (1)
 #121

Update using the 3-Day TF:


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June 25, 2019, 02:44:17 PM
Last edit: June 26, 2019, 12:53:24 AM by dmwardjr
 #122

It can be hard to know where the price will ultimately go to until the last couple of days before we actually get there.  In the meantime, what's more important is to identify if we have upward or downward pressure.  If we have OBVIOUS upward pressure, that means stay long/hold.  If we have OBVIOUS downward pressure, that means stay short/get out.

This is why I focus on letting followers know if we are having upward or downward pressure and for approximately how long can we anticipate the upward or downward pressure to last.  Currently, it appears upward pressure will continue for BTCUSD and ETHUSD until on or around June 30, 2019.  The 3-Day TF seems rather obvious to point us to upward pressure continuing till on or around June 30th.

With ETHUSD and BTCUSD both appearing to have upward pressure until on or around June 30, 2019, we could reason most other ALT/USD pairs will continue with upward pressure until on or around June 30th as well.

I'm working on another video publication later this afternoon or this evening with focus on the NEW 2-Week Candle with updated indicators that began June 24th.  I'm also looking forward to June 26th with the creation of a NEW 9-Day candle with updated indicators.  We should have even more insight into the current upward pressure and how long it may last once a new 9-Day candle begins.  Cause there's a CHANCE this upward pressure COULD continue until the 2-Week Candle beginning on July 8, 2019.

If we do continue with upward pressure until the 2-Week candle beginning July 8th, we can anticipate one more TIME correction (sideways) before legging uucp again.  In the meantime, anticipate more upward pressure till on or around June 30th before we see a potential TIME correction (sideways) -OR- PRICE correction (decent drop of 25% or more).

We will have a better idea if we have a TIME correction or PRICE correction by June 26th or 27th; when we get a new 9-Day and new 4-Day candle.  So, I'll provide a video update later this evening to provide a more detailed explanation of what I have stated in this update.  You can expect another video publication on June 26th or 27th once we get a NEW 9-Day and 4-Day candle.

Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/ProwdClown/.  Will be on a paid subscription website soon with trading signals and technical education using Wyckoff Method in conjunction with Godmode and Stochastic RSI indicators for many more crypto currency pairs besides BTCUSD.
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June 25, 2019, 09:50:30 PM
 #123

31.12. - 28.06. cme future contracts end soon.

Might correlate with your time prediction.
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June 26, 2019, 12:49:57 AM
 #124

31.12. - 28.06. cme future contracts end soon.

Might correlate with your time prediction.

I didn't think of that... thanks for sharing...

By the way,  


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June 26, 2019, 06:59:20 PM
 #125

Update in the 2-Day TF with focus ONLY on Green Secondary and Black Primary 1.618 FIB Extension.  I would not be surprised if we have a pull back from current price; which is actually a Secondary .618 FIB extension from the Black Primary FIB.


Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/ProwdClown/.  Will be on a paid subscription website soon with trading signals and technical education using Wyckoff Method in conjunction with Godmode and Stochastic RSI indicators for many more crypto currency pairs besides BTCUSD.
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June 26, 2019, 10:56:08 PM
Merited by exstasie (1)
 #126

BTCUSD - New Video Publication, titled "Could This Be the Beginning of a Correction? Read Comments..."
https://www.tradingview.com/chart/BTCUSD/ZohwozYR-Could-This-Be-the-Beginning-of-a-Correction-Read-Comments/

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June 27, 2019, 03:21:21 AM
 #127

A look at the 24h TF:


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June 27, 2019, 03:24:13 AM
 #128

Video titled, "Follow-Up to Previous Video After New 3-Day Candle Has Begun."

https://www.tradingview.com/chart/BTCUSD/vxFSP6kC-Follow-Up-to-Previous-Video-After-New-3-Day-Candle-Has-Begun/

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June 27, 2019, 03:42:05 AM
Last edit: June 27, 2019, 03:53:13 AM by dmwardjr
 #129

It's STILL POSSIBLE this may only be a "TIME" CORRECTION with sideways price action within a $1,200 price range instead of a "PRICE" CORRECTION resulting in a 25 percent or more drop.  Which is why I said, "If you want to play it safe and sell a small percentage to lock in some profits, while continue to hold with a larger percentage and a rather tight stop loss/stop limit in place.

If you decide to put a rather tight stop loss/stop limit in place, you will be forced to stay on top of it if a drop ensues to trigger your stop loss/stop limit order.  Cause it's still hard to say if the drop will be sustained for a while or if it will only be brief because of what we are seeing with the Purple Energy in the Weekly, 9-Day and 2-Week Time Frames (TF's).

The Purple Energy in the Weekly TF (Far Left) and 9-Day TF (Center) appears as if it MIGHT try to go above the 50% level in a similar way it did back in 2012 and 2013.

The Purple Energy in the 2-Week TF (Far Right) is currently at 70% level and still has room to fall to the 50% level to seal the deal for sustained downward pressure.


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June 27, 2019, 03:52:55 AM
 #130

Here is a REMINDER of what the Purple Energy in the Weekly (Far Left), 9-Day (Center) and 2-Week (Far Right).  I placed black circles on the Purple Energy in the Weekly where it turned back up above the 50% level in 2012 and 2013.  Then I generated the other two time frames while keeping the black circles in the same location so you could see what the Purple Energy looked like in the 9-Day and 2-Week TF's in 2012 and 2013.


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June 27, 2019, 06:47:19 AM
Merited by dmwardjr (1)
 #131

A look at the 24h TF:




A correction by price, or just time? Always an eternal question at times like these. My gut is/was telling me that a deep shakeout similar to mid-May could be in the cards. Very unpredictable though! All we can do is set our stops and react to the market.

Great stuff, dmwardjr. Thanks for the updates.

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June 27, 2019, 06:55:25 AM
 #132

A look at the 24h TF:




A correction by price, or just time? Always an eternal question at times like these. My gut is/was telling me that a deep shakeout similar to mid-May could be in the cards. Very unpredictable though! All we can do is set our stops and react to the market.

Great stuff, dmwardjr. Thanks for the updates.

Yes, I too am leaning towards a fairly decent correction similar to mid May, 2019.  I'm thinking if we do have that correction without going below $9,948.98; then bouncing back up to $11,399.70; we stand a good chance of this only being a time correction and the bull trend is on for a higher high to a price range between $14,780.60 and $16,096.08.  Below is a chart to let you see where those price targets are in relation to history:


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June 27, 2019, 12:15:23 PM
 #133

Posting an update of the 24h chart again for you to compare to the previous time I posted it around 9 hours ago:  Keep in mind I also drew some lines inside the indicators to show the possible future trek of the Red RSI inside Godmode; the Magenta RSX inside Phoenix 1.391 and the Blue leading line of the Stochastic RSI.


Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/ProwdClown/.  Will be on a paid subscription website soon with trading signals and technical education using Wyckoff Method in conjunction with Godmode and Stochastic RSI indicators for many more crypto currency pairs besides BTCUSD.
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June 27, 2019, 12:24:20 PM
 #134

Posting 24h again to show additional information with the Phoenix Ari and Stochastic RSI.


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June 27, 2019, 04:31:10 PM
 #135

Hopefully, everyone had a stop loss, stop limit or trailing stop in place and it was triggered earlier today.  If you want to see where I see the price potentially falling to, that would be in the price range identified by the yellow box.  You can scatter buy orders a little above, some within and maybe a few below the yellow box.


Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/ProwdClown/.  Will be on a paid subscription website soon with trading signals and technical education using Wyckoff Method in conjunction with Godmode and Stochastic RSI indicators for many more crypto currency pairs besides BTCUSD.
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June 27, 2019, 04:36:28 PM
 #136

My bad... I forgot to show a price range for you.  It's hard to see what price range without prices available.  Here they are:

It's possible this may stair step down over time.  Which means it may not come down in this one 24h candle.  It could take several days or up to several weeks.  If you feel more comfortable dollar cost averaging by simply buying each significant dip on the way down, then do it that way.  Nothing wrong with doing it that way if you want to avoid missing out just in case it does not drop as low as I'm suggesting.  After-all, I did say to place buy orders ABOVE, WITHIN and BELOW that yellow box.


Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/ProwdClown/.  Will be on a paid subscription website soon with trading signals and technical education using Wyckoff Method in conjunction with Godmode and Stochastic RSI indicators for many more crypto currency pairs besides BTCUSD.
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June 27, 2019, 04:48:45 PM
 #137

As I mentioned earlier, "There is still a decent chance this is only a TIME correction (going sideways within a trading range before continuing up) instead of a PRICE correction (going down 25% or more to refuel before turning back up).  I prefer you dollar cost average to get in at every significant dip on the way down since we have a hard time knowing if this is a simple TIME correction or a PRICE correction.  If this ends up being a PRICE correction, it can take several weeks before finding bottom.  If you are wondering where the absolute bottom would be in a PRICE correction of 25% or more, then have a look at the 21-EMA in the WEEKLY Time Frame in the chart below.  You will see it is currently at $7,060.  It will continue rising each week as the price falls each week to meet it.  I expect the price range for absolute bottom of a MAJOR PRICE correction would end up being between $7,100 and $7,500.


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June 27, 2019, 04:51:44 PM
 #138

We are in a BULL Market.  WHY am I saying that?  Because I want you to pay attention to the 21-EMA in the WEEKLY Chart "ONLY" during a bull market.  WHY?  Because the 21-EMA acts as SUPPORT in a BULL Market and acts as RESISTANCE in a BEAR Market.  So, I say again, We are in a BULL Market.  We had one time in a Bull Market in 2016 in which the price fell substantially below the 21-EMA.  That was because of the BitFinex inside hack job of July, 2016.  We don't have that this go around.

Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/ProwdClown/.  Will be on a paid subscription website soon with trading signals and technical education using Wyckoff Method in conjunction with Godmode and Stochastic RSI indicators for many more crypto currency pairs besides BTCUSD.
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June 27, 2019, 05:04:58 PM
 #139

2-Day Time Frame:


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June 27, 2019, 05:12:15 PM
 #140


Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/ProwdClown/.  Will be on a paid subscription website soon with trading signals and technical education using Wyckoff Method in conjunction with Godmode and Stochastic RSI indicators for many more crypto currency pairs besides BTCUSD.
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