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Author Topic: Godmode Technical Analysis  (Read 2711 times)
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July 17, 2019, 01:59:20 AM
 #181

Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again.

that was my hope for an easy trade---no dice! now i'm looking for the next short term scalp buy setup.

We may see a temporary bounce off $9,120.16:

we blew through the $9650 bottom on massive volume but price stopped dead in its tracks. that tells me we could be pretty close to a local bottom. just need the last of the selling momentum to fade out.

any thoughts on a bounce target? if we're about to go sideways/down for 2 months but only dropping $1000 further, you must expect some drawn out bounces along the way?

Apologies for the delay... My meds have had me knocked out.  Also, I was up all night last night until my dental appointment this morning.  I just woke up about a half hour ago.

I'll have another look at the indicators in multiple time frames to see if I may can come up with a scenario or two.  I'll post them in the wee hours of the morning after I do some more work in my office.

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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July 17, 2019, 02:07:22 AM
 #182

Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again.

that was my hope for an easy trade---no dice! now i'm looking for the next short term scalp buy setup.

We may see a temporary bounce off $9,120.16:

we blew through the $9650 bottom on massive volume but price stopped dead in its tracks. that tells me we could be pretty close to a local bottom. just need the last of the selling momentum to fade out.

any thoughts on a bounce target? if we're about to go sideways/down for 2 months but only dropping $1000 further, you must expect some drawn out bounces along the way?


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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July 17, 2019, 02:14:36 AM
 #183

I was very much "detained" by my tooth extraction, meds and sleeping during these signals provided on the Daily when this drop began "initially."  Just thought I would share the signals shown in the Daily.  I failed to provide an additional note on the Phoenix ARI that was also falling at the time shortly after the signals provided in the other indicators.  The Phoenix ARI lags a bit more than the others but provides additional confirmation AFTER the signals provided in the other indicators.


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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July 17, 2019, 02:31:01 AM
 #184

BTCUSD - New Video Publication titled, "Wanted to Share a Few Things I'm Seeing in the 2-Week Time Frame."  https://www.tradingview.com/chart/BTCUSD/I5REJUeH-Wanted-to-Share-a-Few-Things-I-m-Seeing-in-the-2-Week-Time-Frame/

Like I said in the video (when looking at the Daily time frame); we are flirting with the lower boundary of that triangle right now. It's POSSIBLE we can avoid falling below the lower boundary of that triangle and this weekend begin coming back up to the upper boundary of the triangle before falling again. However, this is currently looking like we could have a "Three Drives Down" scenario play out from our high at $13,880 to a lower low around $8,300 to $8,500 by mid September. Of course I'm saying the third drive down would bottom out in mid September before we finally see a reversal to sustained upward pressure for the remainder of 2019.

If you have not watched this video yet regarding continued downward pressure till September (linked in the quote above), I recommend watching it.

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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July 17, 2019, 12:09:36 PM
 #185

12h TF:



6h TF:


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July 17, 2019, 12:45:10 PM
 #186

12h TF:



6h TF:



thx for your insights ;-)
i can see this blue buy  zone quite large though

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July 17, 2019, 06:06:38 PM
 #187

thx for your insights ;-)
i can see this blue buy  zone quite large though

Agreed...  Our buy zone for the absolute bottom can range between my two 0.618 FIB's between $8,386.86 and $7,355.27 by September.  It's going to take its sweet time about getting down there in my opinion.  We may even see a "double bottom" or "W" formation before we turn back up in early to mid September.

I circled those two FIB's with purple circles on this Daily chart:


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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July 17, 2019, 06:07:07 PM
 #188

3h TF:


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July 19, 2019, 05:48:57 AM
Merited by dmwardjr (1)
 #189

Nice office/man-cave. I see that Bitcoin has treated you well, and that you are treating yourself well in return. Smiley

But about the market, I believe this has stopped,



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dmwardjr
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July 19, 2019, 12:51:20 PM
 #190

Nice office/man-cave. I see that Bitcoin has treated you well, and that you are treating yourself well in return. Smiley


Thanks on the office/man-cave.  I can't complain.


But about the market, I believe this has stopped,



You may want to watch this video publication FIRST.  The comments you see below are induced in the comments section of this video publication link:  https://www.tradingview.com/chart/BTCUSD/8MWwADJH-Bitcoin-Weekly-Brainstorm-Refer-to-Comments-Section-as-Well/

$8,350 will be LIKELY support on this current stint of downward pressure. I personally believe the downward pressure is not quite complete yet. Yes, we are currently experiencing upward pressure but I believe it will be short-lived and we resume with downward pressure to find bottom around $8,350 the last week of July or first week of August with the 60-MA acting as support in the 2-Day TF or the 120-MA acting as support in the Daily (24h) TF.

If you haven't noticed, the short contracts on BitFinex (6,160 contracts) are MUCH LOWER than the long contracts on BitFinex (22,500 contracts). This is another reason I believe this downward pressure will likely continue till the last week of July or first week of August.



2-Day TF:



Daily TF:


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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July 19, 2019, 05:32:42 PM
Last edit: July 20, 2019, 08:23:06 AM by dmwardjr
 #191

A further look at Godmode indicator and Phoenix Ari indicator in this 2-Day TF:







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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July 20, 2019, 08:25:04 AM
 #192

Here's the Daily (24h) TF after approximately 21 hours of price movement since the last time I posted the Daily:


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July 21, 2019, 01:32:29 PM
Last edit: July 21, 2019, 02:02:50 PM by dmwardjr
Merited by figmentofmyass (1)
 #193

A simple update with the Daily (24h) TF:  It's still "on" for the price to drop [In my opinion] to a price point somewhere "in the future" between the 100-MA and 120-MA in the Daily (24h) TF.  The 100-MA and 120-MA "should" continue rising even as the price is dropping.  I'm anticipating the price drop to meet somewhere between those two moving averages in the Daily (24h) TF inside the light green box placed here on the chart.



A look at an update in the indicators for the 2-Day TF:


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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July 22, 2019, 09:29:37 AM
 #194

that $8300-8500 area looks like a real sweet spot.

one question: you mentioned you expect downward pressure until mid-september. so if we establish a low in the next couple weeks in the $8000s, what do you expect to happen for the next ~6 weeks after that?

thanks again for the updates!

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July 22, 2019, 01:06:44 PM
Merited by figmentofmyass (1)
 #195

that $8300-8500 area looks like a real sweet spot.

one question: you mentioned you expect downward pressure until mid-september. so if we establish a low in the next couple weeks in the $8000s, what do you expect to happen for the next ~6 weeks after that?

thanks again for the updates!

Hi FOMA,

Hopefully, this video publication answers your question...

Weekly Outlook: Downward Pressure Until on or Around July 30th.  https://www.tradingview.com/chart/BTCUSD/zp1l2pD7-Weekly-Outlook-Downward-Pressure-Until-on-or-Around-July-30th/

Just because we have downward pressure for most of this NEW week does not necessarily mean the price action must come down significantly.  As I've said before, this could act more like a TIME correction for now instead of a significant PRICE correction.  If we do not see a PRICE correction this week, it may not occur until AFTER we continue with UPWARD pressure in August then find our bottom in the month of September before FINALLY going up the months of October, November and December to test the All Time HIgh (ATH) of $19,666 on BitStamp.

Hopefully, this TA has been helpful to those who have taken the time to view it.  If you will, take a moment of your time to click "Like."  Would certainly appreciate it.

Happy Trading and Stay Awesome!

David

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July 22, 2019, 01:34:57 PM
Merited by figmentofmyass (1)
 #196

One of the Two Following Scenarios Likely: https://www.tradingview.com/chart/BTCUSD/mSOMUpyS-One-of-the-Two-Following-Scenarios-Likely/
The Magenta Scenario has the price action acting more as a TIME correction; while the Black Scenario has the price action acting more like a PRICE correction.  I still believe most; if not all the month of September will be bearish before we evolve into a bull trend to last most all of Quarter 4, 2019 to test; if not surpass the All Time High (ATH) of $19,666.  However, I do anticipate a pull back shortly after testing the ATH.


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July 22, 2019, 02:50:19 PM
Merited by figmentofmyass (1)
 #197

I placed a GANN on top of my chart and placed possible price predictions with two scenarios.  However, I used it a bit UN-orthodox in regards to the coordinates of the GANN in this particular presentation.  What's IMPORTANT to remember is to keep an eye on the indicators in regard to the current DOWNWARD pressure we are experiencing.  Which means these price projections could change if the price action goes beyond the predictions on the GANN while the downward pressure continues this week.


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July 23, 2019, 03:05:54 PM
 #198


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July 24, 2019, 11:06:27 AM
 #199

BitFinex "Long" Contracts just have not come down enough just yet.  We still anticipate more downward pressure in the indicators to spook those in "Long" contracts to close and/or liquidate those contracts WHILE lulling in margin "Short" contracts just before reversal to upward pressure around the last couple of days of July or first couple days of August.

2-Day TF:  Bitfinex BTCUSD (Top); Bitfinex BTCUSD Short Contracts (Middle); Bitfinex BTCUSD Long Contracts (Bottom):


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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July 24, 2019, 01:48:46 PM
 #200

Update using the Daily (24h) TF:


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