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Author Topic: Godmode Technical Analysis  (Read 9962 times)
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dmwardjr
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May 08, 2019, 02:48:06 PM
Last edit: August 24, 2019, 02:21:16 PM by dmwardjr
 #1

Hi everyone,

Welcome to this chat room!  Feel free to join in on the chat and share charts with your thoughts if you like.  We cannot grow if we are not challenging ourselves.  So, don't be shy about sharing thoughts and/or charts.

My Technical Analysis is probably considered a bit unorthodox compared to other professionals.  But that's alright...  It works for me...  You may find this kind of analysis may also work for you.  So, please join in, get involved and please be respectful to each other.  

My motto on TradingView is "Keep it Simple; Stick to Basics; Don't Let it Get Complicated."  What you see in my analysis in this chat room may seem "complicated" to some or most.  However, that's only because you may not be familiar with the indicators seen on my charts and discussed in comments.  If you give this kind of analysis an HONEST chance by getting involved so that you may UNDERSTAND what is going on, you will finally LEARN the BASICS of this kind of analysis.  Once you know the basics and begin USING this information, it will become more SIMPLE and LESS COMPLICATED.


If you want to see my most recent 20 minute video for Bitcoin Price Predictions, have a look at the following link:  https://www.tradingview.com/chart/BTCUSD/ydOQmsfF-2012-REPEAT-in-My-Opinion-till-7-820-or-9-222-to-New-High/

WHY is the Litecoin Block Halving EVENT so significant? The amount of Litecoins mined in each block will be cut in half. Which means the SUPPLY WILL BE CUT IN HALF. Which means this may be the last time to accumulate Litecoin at this low of prices.

It is my opinion most all other cryptocurrencies will pump along with Litecoin PRIOR TO the block halving EVENT. I have a hard time seeing Litecoin pumping all by itself. I've also shown how the Gray ENERGY in the 2-Week Time Frame has PLENTY of time to come down to the 50% level in the video of this publication. I've also pointed out we may see the peak of our pump on the 2-Week Candle beginning July 8 or July 22, 2019.

Since the Litecoin Block Halving will commence approximately a week earlier than it did in 2015, we might estimate a similar date to reach the peak of the Litecoin Block Halving Pump. That "peak" was July 10, 2015 for Litecoin and July 12, 2015 for Bitcoin. So, the Gray ENERGY may reach the 50% level in the 2-Week time frame on the 2-Week candle beginning July 8 instead of July 22, 2019. Which see:



I have had questions about the Litecoin Block Halving. So, I'm going to provide a few details. The first Litecoin Block Halving event occurred August 25, 2015. The next Litecoin Block Halving is supposed to occur on or around August 19, 2019. https://blockmanity.com/news/litecoin-ltc-second-halving-what-is-it-and-who-does-it-concern/

If you want to see what occurred with Litecoin Price and Bitcoin Price during the time PRIOR TO the Litecoin Block Halving Event in 2015, Have a look below...  Look to the right to see the starting price for each PRIOR to the BEGINNING of the pump; the new high price at the PEAK of the pump and the bottom price AFTER the pump.



Bitcoin History from 2011 to Present Day Using Wyckoff Method:

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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dmwardjr
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May 08, 2019, 03:38:14 PM
 #2

It's looking like May 12 or May 13, 2019 before we reach exhaustion and have a "dip" down before continuing with the bull trend.


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.
dmwardjr
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May 08, 2019, 03:47:53 PM
 #3

If you are wondering how I came up with the "angle" of the black diagonal lines in the previous chart (above), they were placed in parallel with this large pitchfork:


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.
dmwardjr
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May 08, 2019, 04:46:25 PM
 #4

BTCUSD - NEW VIDEO Publication titled, "Follow Up Explanation WHY Upward Pressure To This Weekend"

https://www.tradingview.com/chart/BTCUSD/DBnESTh9-Follow-Up-Explanation-WHY-Upward-Pressure-To-This-Weekend/

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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May 08, 2019, 05:12:46 PM
 #5

A look at the Weekly (left) and the 2-Week Time Frame (right) to see WHEN and WHAT the Gray ENERGY may likely play out.


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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May 08, 2019, 05:28:06 PM
 #6

Another view of the Weekly while comparing with April 1, 2013.


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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May 08, 2019, 05:43:10 PM
 #7

Have a look at Godmode in this 12-Day Time Frame:




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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May 09, 2019, 11:49:43 PM
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 #8

Video Publication Update: https://www.tradingview.com/chart/BTCUSD/TMhKgi43-Brain-Storm-We-Likely-See-7-820-Before-May-2019-is-Completed/


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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May 10, 2019, 08:32:36 AM
 #9


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.
buwaytress
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May 10, 2019, 10:40:26 AM
 #10

It's getting pretty consistent, isn't it, 3-5 days after a new high we get to see some retracement, before another fresh rally. All of this regardless of the news (or in the case since April, despite the shitty news).

Now you mentioned that we're still seeing a lot of gun shy buyers. And I can't help but feel as well that this entire year, the volumes from the $3k low have just never impressed me. It's as if sellers are the ones being patient and allowing themselves extra space at the top before taking profit. So it's not just shy buyers for me, but surprisingly patient sellers as well.

dmwardjr
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May 10, 2019, 10:56:24 AM
 #11

It's getting pretty consistent, isn't it, 3-5 days after a new high we get to see some retracement, before another fresh rally. All of this regardless of the news (or in the case since April, despite the shitty news).

Now you mentioned that we're still seeing a lot of gun shy buyers. And I can't help but feel as well that this entire year, the volumes from the $3k low have just never impressed me. It's as if sellers are the ones being patient and allowing themselves extra space at the top before taking profit. So it's not just shy buyers for me, but surprisingly patient sellers as well.

Yes, that's definitely a different perspective.  It's my opinion we have had a LOT of institutional buying from the $3k's until now who have no inclination of selling anytime soon.  Those institutions normally purchase for VERY long term INVESTMENT instead of for day trading.

We also have to consider plans composite groups (whales) have for alt coins.  Especially, alt coin/bitcoin margin trading pairs.  We have a LOT of margin long contracts compared to margin short contracts.  So, I'm anticipating BTCUSD will continue to go higher WHILE alt coin/USD pairs continue to go sideways until late May to first week of June.  THEN I'm expecting most all USD and USDT pairs to have a BRIEF consolidation dip to act as a shakeout (bear trap) to then continue higher to the next higher FIB level above the previous FIB level.  I elaborate on this in the following video publication:  https://www.tradingview.com/chart/LTCUSD/xaeiUCl2-LTCUSD-to-go-Sideways-While-BTCUSD-Goes-Up-to-Set-the-Stage/

Here's a look at LTCBTC Shorts and LTCBTC Longs on BitFinex:


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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May 10, 2019, 11:08:51 AM
 #12

Compare POSSIBLE future trek of LTCUSD (top) and BTCUSD (bottom)...  Which means LTCBTC "should" go down to liquidate/squeeze LTCBTC margin longs as LTCBTC goes down till last week of May to first week of June.


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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May 10, 2019, 11:36:38 AM
 #13

LTCUSD (top); BTCUSD (middle) and LTCBTC (bottom):  I did not do the math for LTCBTC to collocate with the prices seen in LTCUSD and BTCUSD on the dates indicated by the Vertical Time Lines. However, I believe the LTCBTC chart on the very bottom gives a decent picture of it's possible future trek. 


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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May 11, 2019, 01:11:27 AM
 #14

Update using the Daily to show the POSSIBLE future trek of the price action in relation to the POSSIBLE future trek of the lines within the indicators.


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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May 11, 2019, 01:12:34 AM
 #15

Another look WITHOUT the indicators:


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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May 11, 2019, 02:28:47 PM
 #16

Yes, that's definitely a different perspective.  It's my opinion we have had a LOT of institutional buying from the $3k's until now who have no inclination of selling anytime soon.  Those institutions normally purchase for VERY long term INVESTMENT instead of for day trading.

I wouldn't disagree with you here. I'm of the opinion that institutional money started not later than late 2016 (and that's what fuelled the steroid pump of 2017, I believe!), mainly through PE and other private placements, then through those hedge funds, and then it was only later that they wanted more action and the derivatives markets got hyped up but I tell you what, old money doesn't wait around, it goes in whatever way it can.

And when we had $3k you bet they were happy to double down on what they already had, and with price already so strong barely half a year down the road, they're not going to let go at least until a new ATH is formed.

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May 11, 2019, 05:58:36 PM
 #17

Yes, that's definitely a different perspective.  It's my opinion we have had a LOT of institutional buying from the $3k's until now who have no inclination of selling anytime soon.  Those institutions normally purchase for VERY long term INVESTMENT instead of for day trading.

I wouldn't disagree with you here. I'm of the opinion that institutional money started not later than late 2016 (and that's what fuelled the steroid pump of 2017, I believe!), mainly through PE and other private placements, then through those hedge funds, and then it was only later that they wanted more action and the derivatives markets got hyped up but I tell you what, old money doesn't wait around, it goes in whatever way it can.

And when we had $3k you bet they were happy to double down on what they already had, and with price already so strong barely half a year down the road, they're not going to let go at least until a new ATH is formed.

Yes, I would agree with you about "old money not waiting around" but I believe they use different percentages of their capital and/or crypto bags for different purposes.  For example, they may HODL (for investment) approximately 75 to 80 percent and use the remaining for day trading.

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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May 11, 2019, 06:01:52 PM
 #18

Here's a publication posted April 28, titled, "Margin Shorts Need to be Spooked..."  https://www.tradingview.com/chart/BTCUSDLONGS/r5CeVu4r-Margin-Shorts-Need-to-be-Spooked/

Margin shorts have been "spooked."  However, they need to be "spooked" some more.



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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May 11, 2019, 06:02:50 PM
 #19

Here's my most recent video publication, titled, "Appears Upward Pressure Continues to May 13 & Possibly May 15:  https://www.tradingview.com/chart/BTCUSD/sVqjkthN-Appears-Upward-Pressure-Continues-to-May-13-Possibly-May-15/

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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May 11, 2019, 06:15:45 PM
 #20


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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