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Author Topic: Godmode Technical Analysis  (Read 2707 times)
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July 24, 2019, 09:15:05 PM
Merited by figmentofmyass (2)
 #201

On July 22, 2019 I made the following post that included a link to a VIDEO publication:


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


The video (above) was posted on July 22, 2019. Today is July 24, 2019. I mentioned toward the end of the video what I was anticipating for the indicator lines in the 2-DAY Time Frame. You will see what I anticipated with the indicator lines has come to pass.


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, 09:32:54 PM
Merited by dmwardjr (1)
 #202

Great stuff, David. Your last video was spot on. It helped me keep the faith after that bull trap to $11K when I started second guessing my bearish analysis.

I've been patiently waiting for an eventual retest of the July 17th low. Even if we don't get there, I'll still be buying back my spot coins much lower than I sold them. It looks to me like the market still needs to squeeze out some longs so I'm hopeful my bids in the $8,000s will get filled.

Thanks again for sharing. I'm looking forward to your updates as we approach the expected reversal end of July or early August!

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July 26, 2019, 05:57:53 AM
 #203

Great stuff, David. Your last video was spot on. It helped me keep the faith after that bull trap to $11K when I started second guessing my bearish analysis.

I've been patiently waiting for an eventual retest of the July 17th low. Even if we don't get there, I'll still be buying back my spot coins much lower than I sold them. It looks to me like the market still needs to squeeze out some longs so I'm hopeful my bids in the $8,000s will get filled.

Thanks again for sharing. I'm looking forward to your updates as we approach the expected reversal end of July or early August!

Hi Exstasie,

Thanks!  Happy the TA helped.

Thanks for dropping by and Stay Awesome!

Update using the 3-Day TF:  Appears as though the downward pressure continues possibly through the weekend until Saturday or Sunday.  We may know more once we a NEW 3-Day Candle begins tomorrow (July 27, 2019).  The indicators will update on the creation of that NEW 3-Day Candle and may give us a better indication of approximately WHEN we will see a reversal to upward pressure.


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 28, 2019, 09:55:49 PM
 #204

Still anticipate the price action and the Orange 60-MA in the 2-Day TF to meet around $8,386.86.  This may not occur until the first week of August.


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 28, 2019, 09:57:58 PM
 #205

If you work hard on your job, you can make a living.

If you work hard on yourself, you can make a fortune.

Let's work harder on ourselves than we do on our job.

Stay Awesome!

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 31, 2019, 01:18:30 PM
 #206

NEW Video Publication titled, "Sideways at Worst to $10,500 by This Weekend." https://www.tradingview.com/chart/BTCUSD/QxxJ5ImH-Sideways-at-Worst-to-10-500-next-7-to-10-Days/


We have our reversal to upward pressure on or around July 30th as anticipated. However, I'm not expecting a "significant" upward move here. Mainly, due to the huge difference we see with the BitFinex Short and Long contracts. Short contracts currently at 6,600 and Long contracts currently at 22,375. Which see...




The higher time frames (Weekly, 9-Day and 12-Day seem to indicate a reversal to upward pressure is near. However, I'm anticipating that upward pressure to be for only a brief amount of time before continuing with downward pressure to eventually find support on the 20-EMA in the Weekly Time Frame (TF).

Ignore those two scenarios I drew in the publication for two possible scenarios. It's still possible for us to go to a higher high than $13,880 on Bitstamp . But due to the huge difference in the long and short contracts on Bitfinex, one can't help but conclude we're not going to higher highs and the current move up may only be for a brief amount of time.

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 31, 2019, 01:30:07 PM
 #207

We need to test this Red 20-EMA in the Weekly TF to spook away a lot of the margin long contracts on BitFinex and to lull in some margin short contracts.  This is why I anticipate this current bout of upward pressure to only be brief and NOT to be a significant move upward.


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 31, 2019, 01:58:48 PM
 #208

Simply providing my Bitcoin History Using Wyckoff Method to show how I anticipate the Orange 20-EMA to act as "Last Point of Support" on this "Back-Up" (Shake-Out).


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 31, 2019, 02:17:00 PM
 #209

Here's the 12h TF:


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August 01, 2019, 06:17:19 PM
 #210

David, thanks for the updates.

It's all taking a bit longer than I originally anticipated. What price action would you look for to invalidate the $8,300s target? If we start holding convincingly above the $10,235 pivot then I'm inclined to think lots of sellers have been trapped.

For now, my 4-hour indicators are dangerously high (for bulls) considering how little upside we've seen. So I'm still leaning bearish and waiting out this bounce.

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August 02, 2019, 01:06:21 PM
Last edit: August 18, 2019, 07:25:53 PM by dmwardjr
 #211

David, thanks for the updates.

It's all taking a bit longer than I originally anticipated. What price action would you look for to invalidate the $8,300s target? If we start holding convincingly above the $10,235 pivot then I'm inclined to think lots of sellers have been trapped.

For now, my 4-hour indicators are dangerously high (for bulls) considering how little upside we've seen. So I'm still leaning bearish and waiting out this bounce.

Hi Exstasie,

I saw $10,500 coming "at worst."  Meaning, "at minimum."  We've already reached that $10,500 price point.  We still have a CHANCE for more upward price movement.  I'm going to create another video publication later today or this evening to elaborate on possibilities.  It's very possible we could go up to $12,500.  Again, I'll elaborate on that later today or this evening.  If we do end up going to $12,500 or higher, that will make me wonder if a large percentage of the margin long contracts are "fake" contracts.




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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August 02, 2019, 09:20:11 PM
 #212

Hi Exstasie,

I saw $10,500 coming "at worst."  Meaning, "at minimum."  We've already reached that $10,500 price point.  We still have a CHANCE for more upward price movement.  I'm going to create another video publication later today or this evening to elaborate on possibilities.  It's very possible we could go up to $12,500.  Again, I'll elaborate on that later today or this evening.

$10,500 to $12,500 is quite a large range! Looking forward to your next video. I was expecting an eventual push into the $12,000s as the high time frames correct, but honestly thought we would dip below $9K first. I didn't find that low volume double bottom off $9,100 very convincing. Too bad! Smiley

Still looking for an eventual test of the 20-week EMA? If we go to the $12,000s now I reckon it'll be much higher than the $8,300s by the time that happens.

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August 03, 2019, 01:09:47 AM
Last edit: August 18, 2019, 07:23:10 PM by dmwardjr
Merited by figmentofmyass (1)
 #213

Hi Exstasie,

I saw $10,500 coming "at worst."  Meaning, "at minimum."  We've already reached that $10,500 price point.  We still have a CHANCE for more upward price movement.  I'm going to create another video publication later today or this evening to elaborate on possibilities.  It's very possible we could go up to $12,500.  Again, I'll elaborate on that later today or this evening.

$10,500 to $12,500 is quite a large range! Looking forward to your next video. I was expecting an eventual push into the $12,000s as the high time frames correct, but honestly thought we would dip below $9K first. I didn't find that low volume double bottom off $9,100 very convincing. Too bad! Smiley

Still looking for an eventual test of the 20-week EMA? If we go to the $12,000s now I reckon it'll be much higher than the $8,300s by the time that happens.

Yes, I know... quite a move to $12,500 from current location.  I'll provide a NEW Video publication later this evening.  Probably in a couple of hours.  Here's the 24h TF with a few text bubbles while you wait.




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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August 03, 2019, 01:32:39 AM
 #214

Have a look at the Phoenix TSI Short Cycle in Bitfinex Margin Long Contracts:  This is another reason WHY $10,500 was the price we went up to "...at worst."  I'm actually not surprised to see us continue going higher.  We could go up to $12,500 but I'll provide further details later this evening.


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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August 03, 2019, 11:58:53 PM
Last edit: August 04, 2019, 12:18:37 AM by dmwardjr
Merited by figmentofmyass (1)
 #215

NEW VIDEO PUBLICATION titled, "Part 1 - A Look at Higher Time Frames See Comments Section." - https://www.tradingview.com/chart/BTCUSD/pEz3MlUx-Part-1-A-Look-at-Higher-Time-Frames-See-Comments-Section/

These comments (below) are in the "comments section of the publication."

I'm following up with "Part 2" shortly to provide more details of possible price action during August going into September with FIB's.  The purpose of this publication in the higher time frames was to get an idea of where we may be during this period of Wyckoff Re-Accumulation.  It currently looks like we will not come down to find support on the 20-EMA in the 9-Day TF until September.  This also means we can expect the 20-EMA in the 9-Day TF to continue rising from it's current level to meet the price action candles when they come down to meet the 20-EMA in September in the 9-Day TF.

In the near term (Sunday or Monday) I do anticipate a reversal to downward pressure.  However, I'm not seeing a significant dip when it does reverse.  That dip may only last until Wednesday or Thursday; where we will resume with upward pressure once again until at least mid August.  This may equate to us simply going up and down from here until mid to late August in a relatively tight trading range.  I'll get into more details in the next video (Part 2) to provide an estimated trading range (high and low) during this time frame of re-accumulation that's remaining.

Stay tuned for Part 2 Video Publication to follow in about an hour.

Happy Trading and Stay Awesome!

David

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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August 04, 2019, 06:04:11 AM
Merited by figmentofmyass (1)
 #216

NEW VIDEO Publication titled, "Part 2 - Focus on Low Time Frames, FIB's & Bollinger Bands Basis." https://www.tradingview.com/chart/BTCUSD/UaLEu1Pe-Part-2-Focus-on-Low-Time-Frames-FIB-s-Bollinger-Bands-Basis/

Following are notes in the comments section of that video publication:

I will not be surprised if we come back down to the Basis in the Bollinger Bands in the Daily (24h) TF. Which is currently right at $10,000. My 50.0% FIB RT (Re-Trace) is also around $10,000 near the Bollinger Bands Basis in the Daily. I'm expecting this turn back downward to only be brief. Which means I'm expecting a return to upward pressure rather quickly. WHY? Because our Purple Energy in the Weekly, 9-Day and 12-Day time frames is nearing exhaustion and appears ready to turn back up to upward pressure very soon.

Will we go to higher highs when the Purple Energy in the Weekly, 9-Day and 12-Day turns back up? No, I personally do not believe we do. I believe the upward pressure will only continue for a couple of weeks at most and then we turn back down till some time in mid September where we will see the BEGINNING of a SIGNIFICANT reversal to the upside and test the ATH (All Time High) by end of 2019.

More charts (updates) will be provided to this publication over the next several days. I'll be sure to post an update approximately 24 hours AFTER the creation of a NEW 9-Day, 12-Day and 2-Week candle that begins on Monday, August 5, 2019. The indicators will update in those time frames on August 5th. When they do, we want to see if the Purple Energy has bounced (exhausted) and turned back upward for a brief stint before turning back down once more till at least to mid September.

I'll post a chart shortly with the FIB I focused on in the video.

Thanks for your support!

Stay Awesome!

David


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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August 05, 2019, 02:33:10 AM
 #217

2-Day TF WITH indicators:



24h TF WITHOUT indicators:  The important thing to remember is upward pressure continues for a bit into the month of August before we go into one final brief bear trend in September to set us up to test ATH (All Time High) in Quarter 4, 2019.


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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August 05, 2019, 06:23:52 PM
Merited by figmentofmyass (1)
 #218

A look at the 2-Day TF:  I'll probably provide another video update later this evening.  I'm still doing some much needed work in my office remodel.


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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August 05, 2019, 07:28:06 PM
Merited by dmwardjr (1)
 #219

I will not be surprised if we come back down to the Basis in the Bollinger Bands in the Daily (24h) TF. Which is currently right at $10,000. My 50.0% FIB RT (Re-Trace) is also around $10,000 near the Bollinger Bands Basis in the Daily. I'm expecting this turn back downward to only be brief. Which means I'm expecting a return to upward pressure rather quickly. WHY? Because our Purple Energy in the Weekly, 9-Day and 12-Day time frames is nearing exhaustion and appears ready to turn back up to upward pressure very soon.

i'm assuming $10k is off the table now? Grin

not even a pause on the daily chart......no pullbacks at all. the long/short ratio is also looking scary. even during bull run times, we usually get some nasty wicks down to punish over-leveraged bulls. nothing this time. not yet anyway.....

A look at the 2-Day TF:

any thoughts on what might happen if we bounce off that trendline rather than breaking through it with authority?

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August 05, 2019, 08:25:42 PM
 #220

Hi FOMA,

I will not be surprised if we come back down to the Basis in the Bollinger Bands in the Daily (24h) TF. Which is currently right at $10,000. My 50.0% FIB RT (Re-Trace) is also around $10,000 near the Bollinger Bands Basis in the Daily. I'm expecting this turn back downward to only be brief. Which means I'm expecting a return to upward pressure rather quickly. WHY? Because our Purple Energy in the Weekly, 9-Day and 12-Day time frames is nearing exhaustion and appears ready to turn back up to upward pressure very soon.

i'm assuming $10k is off the table now? Grin

not even a pause on the daily chart......no pullbacks at all. the long/short ratio is also looking scary. even during bull run times, we usually get some nasty wicks down to punish over-leveraged bulls. nothing this time. not yet anyway.....

LOL...  Unfortunately, we did not have the pullback I anticipated to $10,000.  Which is why I prefer to follow the indicators based on upward or downward pressure turns rather than getting fixed on a predetermined price target.  Price targets are more of a "guess" than predicting upward or downward pressure in a given time frame.

A look at the 2-Day TF:

any thoughts on what might happen if we bounce off that trendline rather than breaking through it with authority?

I'll take the time to do a new video publication within the next hour or two to provide my thoughts on this question.

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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