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Author Topic: Godmode Technical Analysis  (Read 6574 times)
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December 06, 2019, 10:07:21 PM
Last edit: December 06, 2019, 10:42:43 PM by JL0
 #441

Bakkt Launching his Cash-Settled Future on Dec. 9 and I think that we gonna see lower lows.
I changed my opinion Cheesy Bitcoin forming a Golden Cross pattern on the 1W chart with the MA50 crossing above the MA100 ?
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December 07, 2019, 09:51:59 AM
 #442

Hi. I think the market has already decided which way to go. We couldn't break through 7500. https://imgur.com/fpqCDl2

Yup, it's looking that way...

Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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December 07, 2019, 10:10:36 AM
Last edit: December 10, 2019, 09:49:59 AM by dmwardjr
 #443

Hi. I think the market has already decided which way to go. We couldn't break through 7500. https://imgur.com/fpqCDl2

we're using up quite a lot of momentum (on RSI etc) for very little gains, so i think you're right that we're nearing a local top. i'm just not sure whether the market is headed to lower lows or not.

a higher low similar to this teal pattern still seems like a decent possibility.

Yes, I agree, a higher low is still a possibility.  What concerns me is the spread between the margin long and margin short contracts on BitFinex.  Almost 5 times as many long contracts as their are short contracts.  We did not have access to margin trading in 2015 when we were climbing out of Accumulation from Distribution.  So, what we see here in late 2019 to early 2020 will likely set a precedent for future periods just before future block halving events after the one coming up in 2020.

Bottom Line:  We are about to find out just how much influence the margin trading markets and futures markets affect the traditional spot price markets.  We are about to see a lot of whales battling whales for position and acquisition of coins over the month of December and January.  I'm rather anxious to see how the indicators react to all of this.  The indicators in the 3-Day Time Frame currently look rather nasty; like we could come down significantly soon if and/or when the White energy drops to and/or below the 50 percent level in the 3-Day TF.  Here's a look at the white energy in the 3-Day TF:



Also, it's quite possible this next drop that likely comes soon may be the last significant drop we see with a chance to drop to a lower low before we FINALLY begin to see a chance of reversal to upward pressure in higher time frames.  I'm still seeing a chance of a higher low on the next drop.  However, I'm leaning more towards a lower low.  I'll feel more confident about reversal to upward pressure if we could just get the white energy in the 3-Week TF up to the 50 percent level.  Yet, the chance for that occurring in December doesn't look good at all.  Appears more likely in January, 2020.

Here's a look at the White Energy in the 3-Week TF:  The current 3-Week Candle ends very soon and a new 3-Week candle begins on December 9, 2019.  The next 3-Week candle after that begins on December 30, 2019.  The next 3-Week Candle after that would be January 20, 2020.  I'm anticipating the White Energy in the 3-Week Candle beginning December 30, 2020 to have us pretty close to the 50 percent level and we shoot up clearly above the 50 percent level in the 3-Week candle beginning January 20, 2020.

The White Energy in the Current 3-Week candle looks quite ugly at the moment.  I'm looking forward to the new 3-Week candle that begins this Monday to see what the White Energy will look like then.




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December 07, 2019, 10:27:32 AM
 #444

Another closer look at Godmode in the 3-Day TF:


Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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December 07, 2019, 10:29:44 AM
 #445

Bakkt Launching his Cash-Settled Future on Dec. 9 and I think that we gonna see lower lows.
I changed my opinion Cheesy Bitcoin forming a Golden Cross pattern on the 1W chart with the MA50 crossing above the MA100 ?

Yes, I've seen that too.  I pointed that out in a previous chart.  That's the reason for a POSSIBLE "higher" low on this next drop down [Identified with the Aqua Blue Line in the chart below].

Here's that Weekly chart I'm referring to with the Green Text Bubble:


Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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December 07, 2019, 07:41:04 PM
 #446

Hi Everyone!  Here’s the TradingView LIVE Stream BETA Link below.  However we will not officially begin our Technical Analysis until 2:00pm Central (Chicago) Time - 8:00pm UTC (London) Time:  https://www.tradingview.com/streams/yXYPkgloUuMbMQddHc-3z/

Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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December 07, 2019, 08:29:26 PM
 #447

I will follow you on tradingview, I'm watching the stream now.  I dont normally use this site enough as its useful enough to be saving various charts across many instruments for people and not just crypto if I remember right.

Quote
We did not have access to margin trading in 2015

I'd say theres always been some leveraged money in crypto at various times, just a question of how much influence is there.   As we get more business involvement I'd assume they do have leverage on their accounts at various levels where as many home users of crypto do not involve themselves beyond a straight deposit type holding and usage.    So over time theres more 'hot money' in crypto and it will vary in season and by bullish phase to the price or not but even in 2015 I think we had some borrowed money in crypto though it was less convenient to margin trade perhaps.

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December 07, 2019, 10:02:45 PM
 #448

"We did not have access to margin trading in 2015..." Are you using a Royal we?
Because I sure did short with 3x leverage on Bitfinex since 2014.

Sometimes, if it looks too bullish, it's actually bearish
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December 07, 2019, 11:30:22 PM
 #449

"We did not have access to margin trading in 2015..." Are you using a Royal we?
Because I sure did short with 3x leverage on Bitfinex since 2014.

Same here. It could possibly be said that margin/futures markets were still in their infancy in 2014, but by 2015 the markets at Bitfinex and Okcoin.com were quite robust. They had a huge effect on the market at that time, with Bitmex taking over the spotlight in 2016-2017.

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December 09, 2019, 08:44:16 AM
Last edit: December 09, 2019, 08:58:22 AM by dmwardjr
 #450

I will follow you on tradingview, I'm watching the stream now.  I dont normally use this site enough as its useful enough to be saving various charts across many instruments for people and not just crypto if I remember right.

Quote
We did not have access to margin trading in 2015

I'd say theres always been some leveraged money in crypto at various times, just a question of how much influence is there.   As we get more business involvement I'd assume they do have leverage on their accounts at various levels where as many home users of crypto do not involve themselves beyond a straight deposit type holding and usage.    So over time theres more 'hot money' in crypto and it will vary in season and by bullish phase to the price or not but even in 2015 I think we had some borrowed money in crypto though it was less convenient to margin trade perhaps.

You may be right about "...theres always been some leveraged money in crypto at various times..." and you are also right in regard to being "...just a question of how much influence is there."  If there were leverage markets in 2015 or earlier, the "influence" of that market was so small then, we could probably say there was very little "influence" on the markets then.  Today is a totally different story.  I would prefer there were no leverage markets for the sake of legitimate price discovery with less manipulation.  My opinion of course... Smiley

By the way, thanks for the "follow" on TradingView.  I'm curious about your thoughts on the LIVE Stream...  How was it?  Is there anything I could have done better or something I may not have done you would prefer I include in the Stream, What did you think of the few things I covered with Godmode, etc...?  They will soon make it possible for the LIVE Streams to be recorded so those who may have missed the stream can view them later at their convenience.

Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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December 09, 2019, 08:46:43 AM
 #451

"We did not have access to margin trading in 2015..." Are you using a Royal we?
Because I sure did short with 3x leverage on Bitfinex since 2014.

Well, I wasn't trading on BitFinex in 2014.  I was trading on BTCe Exchange.  Smiley  I didn't realize there was leverage trading on BitFinex in 2014.  Goes to show one has to be careful what they say if they haven't done their research.  I would still have to agree with the previous post in regard to the focus should be how much "influence" a leveraged market as a whole back then compared to that "influence" on the markets today.

Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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December 09, 2019, 08:49:26 AM
 #452

"We did not have access to margin trading in 2015..." Are you using a Royal we?
Because I sure did short with 3x leverage on Bitfinex since 2014.

Same here. It could possibly be said that margin/futures markets were still in their infancy in 2014, but by 2015 the markets at Bitfinex and Okcoin.com were quite robust. They had a huge effect on the market at that time, with Bitmex taking over the spotlight in 2016-2017.

The main reason I assumed there were no substantial leveraged markets in 2015 or sooner is because of the long and short contracts history on TradingView.  Their chart only goes back to late August, 2017.


Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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December 09, 2019, 10:19:22 AM
 #453

The main reason I assumed there were no substantial leveraged markets in 2015 or sooner is because of the long and short contracts history on TradingView.  Their chart only goes back to late August, 2017.

Ah, yeah I've noticed that. I think it's some sort of API/data issue. I was shorting a lot on Bitfinex throughout 2014. Judging by volumes, maybe leveraged markets weren't substantial until 2015. By then they were generally the most liquid you could find though.

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December 09, 2019, 10:22:06 AM
 #454

The main reason I assumed there were no substantial leveraged markets in 2015 or sooner is because of the long and short contracts history on TradingView.  Their chart only goes back to late August, 2017.

Ah, yeah I've noticed that. I think it's some sort of API/data issue. I was shorting a lot on Bitfinex throughout 2014. Judging by volumes, maybe leveraged markets weren't substantial until 2015. By then they were generally the most liquid you could find though.

Okay...  Cool...   I ain't aware of that until now.   Wink

Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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December 09, 2019, 03:02:56 PM
 #455

There a small triangle coming to decision time soon, and I expect it to break to the upside, with 6h and 12h PSAR about to flip to bullish, and 12h MACD cross to positive, in case of a pump.

Sometimes, if it looks too bullish, it's actually bearish
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December 09, 2019, 06:53:52 PM
 #456

There a small triangle coming to decision time soon, and I expect it to break to the upside, with 6h and 12h PSAR about to flip to bullish, and 12h MACD cross to positive, in case of a pump.

I don't exactly see a triangle but I do see the descending trend line. This is some pretty ugly wicking on significant volume, which doesn't bode well for the bulls:



On the other hand, if the market does manage to break through $7,800 with authority, we could easily retrace back to the $9,000s given all the trapped bears.

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December 10, 2019, 01:00:36 AM
Merited by El duderino_ (2)
 #457

There a small triangle coming to decision time soon, and I expect it to break to the upside, with 6h and 12h PSAR about to flip to bullish, and 12h MACD cross to positive, in case of a pump.

There a small triangle coming to decision time soon, and I expect it to break to the upside, with 6h and 12h PSAR about to flip to bullish, and 12h MACD cross to positive, in case of a pump.

I don't exactly see a triangle but I do see the descending trend line. This is some pretty ugly wicking on significant volume, which doesn't bode well for the bulls:



On the other hand, if the market does manage to break through $7,800 with authority, we could easily retrace back to the $9,000s given all the trapped bears.

Let's have a look at the 9-Day TF:  We may have to wait until the 9-Day Candle beginning December 27, 2019 or the 9-Day Candle beginning January 5, 2020 before we have an OBVIOUS reversal to SUSTAINED upward pressure.  Note the other times in history in which we had two occurrences on each white vertical time line:  Note when the White Energy passed up above the 50 percent level on or shortly after the Red RSI made contact with the Green Line WHILE the Green Line was going up in the 9-Day TF.

I still maintain we may not see an OBVIOUS reversal until the end of the first week of January or the beginning of the second week of January.


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December 10, 2019, 02:10:08 AM
 #458

A look at the 2-Day Time Frame (TF):

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December 10, 2019, 12:18:41 PM
 #459

"Unfortunately, Downward Pressure Continues Until the 2-Week Candle Beginning December 23, 2019."  https://www.tradingview.com/chart/BTCUSD/lD8vpCLC-Unfortunately-Downward-Pressure-Continues-Until-the-2-Week/

My label as a "Short" in the video publication linked above is to proclaim we are still in a bear trend. The "Short"" label is NOT telling everyone to go margin short at this very moment.

We should see the Blue LSMA in the 2-Week begin to round off and turn back up between the 2-Week Candles that begin December 23, 2019 and January 6, 2020. This lines up with my previous prediction of possible reversal to SUSTAINED upward pressure the end of the first week of January, 2020 or beginning of the second week of January, 2020.

Just because we have downward pressure does not necessarily mean we must come down significantly. However, based on what we are seeing with the Margin Long Contracts on BitFinex and all the downward pressure we are currently seeing within the indicators, we cannot help but wonder if the price action comes down significantly from current price range. If we don't have a significant change in the 2-Day and 3-Day Time Frames soon to the positive, we can anticipate a decent drop .

The White Energy in the 2-Day is currently around 65 percent and falling. Once the White Energy passes below the 50 percent level in the 2-Day TF, we can anticipate a fairly decent drop in the price action. I'll post another chart shortly of where the price action could potentially fall to.


Here's a look at targets for the price action to POSSIBLY fall down to between now and the 2-Week Candle beginning December 23, 2019.


Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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December 10, 2019, 01:41:06 PM
 #460

What we are seeing in ETHUSD could be good news for BTCUSD in January...  "Monthly TF DEFINITELY Looks Like Alt-Coin Season Begins January!" https://www.tradingview.com/chart/ETHUSDT/4W3As4vU-Monthly-TF-DEFINITELY-Looks-Like-Alt-Coin-Season-Begins-January/

Follow me on Trading View for excellent signals in Bitcoin/US dollar - Bitstamp - https://www.tradingview.com/u/WyckoffMode/.  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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