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Author Topic: Godmode Technical Analysis  (Read 8302 times)
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dmwardjr
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August 23, 2019, 10:28:09 AM
Last edit: August 27, 2019, 04:09:15 AM by dmwardjr
Merited by exstasie (1)
 #241

$9,120 at a Minimum by Mid September.  https://www.tradingview.com/chart/BTCUSD/Qrn0H8zk-9-120-at-a-Minimum-by-Mid-September-Read-Comments-Section/




I will not post photos of my office remodel WITHOUT providing a BTCUSD update.  That's my compromise for those still interested in the office remodel.

Here's a look at the progress in my office remodel:  Please ignore the mess.  It will actually be quite nice in my office once completed.

I have one more wall to install shelving, need to run a coax cable to my office for my cable internet modem, wire up the other end of new 110 Volt/20 Amp outlets at the main distribution panel, finish the PC build, mount the PC under the new counter top desk, etc...  Getting closer to completion.


16 inch deep shelving placed above the 55 inch 4k TV's to be used as monitors:



One more wall to install the 16 inch deep shelving.  Part of this last wall will include 24 inch deep shelf:



A view of the opposite corner of my office with one remaining wall to install shelf:  The wall with the entry door and closet door will not include a shelf:  



A 3 inch painted facial piece will go along the entire front edge of the shelving in order to hide future LED light fixtures to shine down on the future counter top that will continue to the corner and along the other wall to the right:



UPDATE EDIT:  

I finally got all the shelves up; as seen in the two following photos.  Need to remove the painters tape from the crown molding.



Still one more shelf to put up for my large Epson printer to sit on.  You see a small square I cut out of the wall to pass through the printer power cord.  I put the second coat of paint on the shelf for the printer.  I'll mount it on the wall tomorrow after I allow plenty of time for the second coat of paint to dry.  You also see a six port surge protected power strip mounted in the corner of the wall.  It's mounted in the corner above the shelf for my cable modem and two routers to be mounted to the right of the power strip.



UPDATE EDIT:

Printer mounted on wall with wires hidden inside wall.  The goal is to have as much of the wiring to components hidden where at all possible.  Part of my glass "L" shaped desk will be underneath the printer mounted on the wall.
In case you are interested:  A "pair" of the "L" Brackets I'm using can hold up to 1,000 pounds if anchored properly in studs.  https://www.lowes.com/pd/Style-Selections-Steel-19-5-in-D-x-13-in-L-x-1-16-in-W-White-Shelf-Bracket/3034239


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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August 23, 2019, 11:03:40 PM
Merited by dmwardjr (1)
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Thanks for the updates, David!

I'm in agreement, sideways or downwards over the next few weeks as we round out this bull market correction. With the 20-week EMA hovering around $9K, I'm looking for at least a retest of the low $9,000s.

We saw some wicking below that EMA in 2016 in the earlier stages of the bull market, which is why I haven't ruled out the $8,000s yet.

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August 24, 2019, 09:52:18 AM
 #243


Thanks for the updates, David!

I'm in agreement, sideways or downwards over the next few weeks as we round out this bull market correction. With the 20-week EMA hovering around $9K, I'm looking for at least a retest of the low $9,000s.

We saw some wicking below that EMA in 2016 in the earlier stages of the bull market, which is why I haven't ruled out the $8,000s yet.

You're welcome... And thanks for dropping by, Exstasie.   Wink

I believe a lot of people are looking at that Weekly 20-EMA as POSSIBLE support.  And yes, we could very easily go down into the $8k's if we do not have enough margin longs drop out in the $9k's.

Appears the margin longs are finally beginning to go down.  I simply had a hard time seeing BitFinex making up the difference on all those margin longs versus the shorts if they were to allow it to continue going up for a lengthy period of time.  Maybe I'm looking at margin longs and shorts in the wrong 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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August 24, 2019, 10:14:59 AM
 #244

Do you trade via an exchange using metatrader or do you just buy and sell via other means....
And how do you do risk management since exchanges get hacked etc.

Just asking for people who are interested.

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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August 24, 2019, 01:04:24 PM
Last edit: August 27, 2019, 05:30:46 AM by dmwardjr
 #245

Do you trade via an exchange using metatrader or do you just buy and sell via other means....
And how do you do risk management since exchanges get hacked etc.

Just asking for people who are interested.

Pardon the delay... It took a bit to put all of this together in writing.  I needed to get this information together anyway as "content" for my website.  Your question only motivated me to go ahead and put a rough draft together.

Without giving too many details for personal privacy:

The best way in my opinion is to trade using a 3rd party via API.  However, it's IMPORTANT to make sure the 3rd party you use to trade via API is just as intuitive as if you were actually on the exchange.  But MOST IMPORTANT is the 3rd party you use via API also has a TRAILING STOP FEATURE.  A "trailing stop" is the best tool one can use to keep losses small and gains large when trading in certain time frame ranges other than "High Long Term Trend Trading."  There are other advantages for U.S. residents using a 3rd party not located in the U.S. via API.  I won't elaborate on that anymore.   Wink

The terms I use (below) for different TYPES of trading are my own.  It's my way of being more descriptive (specific) to make sure you understand as much as possible.

I do several different types of trading in multiple time frame ranges.  For example:

Let's assume you have $100,000 in TOTAL FIAT CAPITAL and have the TIME to "Day Trade."  Let's also assume you have the KNOWLEDGE, TOOLS (indicators and 3rd Party API w/Trailing Stop) and EXPERIENCE to Day Trade using the multiple time frame RANGES I've mentioned below.  Let's assume you have multiple 24 inch or larger monitors to constantly monitor MULTIPLE crypto-currency pairs.  Let's assume you will trade ONLY the top 10 crypto/USD or crypto/USDT pairs by market cap with your $100,000 in FIAT (USD).  Let's divide that $100,000 of TOTAL FIAT CAPITAL by ten among those Top 10 crypto/USD pairs by market cap.  

NOW divide $10,000 of TOTAL FIAT CAPITAL for each crypto asset into percentages shown for time frame trading ranges shown below.  Example:
HLTTT for BTCUSD @ 70 Percent = $7,000 to buy at or near the bottom of a major dip in the indicators in the 9-Day time frame or higher time frame; depending on where we are in the 2-Week and Monthly time frame.
LTTT for BTCUSD @ 15 Percent = $1,500 to buy at or near the bottom of a major dip in the indicators in the 3-Day or 4-Day time frame.
MTTT for BTCUSD @ 10 Percent = $1,000 to buy at or near the bottom of a major dip in the indicators in the 4h and/or 6h time frame.
HTFS & LTFS @ 5 Percent = $500 to use for scalping with low leverage or no leverage at all.  Market conditions shown by the indicators will determine if you use that $500 for HTFS -OR- LTFS.

Now do the same thing for LTCUSD, BCCABC, XRP, EOS, ADA, ETH, etc... in regards to the percentage of $10,000 for each of those crypto assets if you had a TOTAL FIAT CAPITAL of $100,000.  Keep in mind this is intended ONLY to be an example.  Your hardware setup may only be able to help you efficiently monitor and trade 3 or 4 crypto asset pairs and your experience may only allow for 3 or 4 crypto asset pairs.  If that's the case, divide your TOTAL FIAT CAPITAL by 3 or 4 instead of 10 provided by my example.  Ten crypto assets may be too many crypto-currency pairs for you to monitor at one time in the beginning.  Which means it may be better to get organized monitoring and trading less than ten crypto currency/USD pairs in the beginning to grow accustomed (comfortable) with using all the tools you have created or put in place to implement your trading strategy.  Maybe you feel more comfortable starting out monitoring and trading only 3 or 4 crypto/USD pairs as you grow accustomed to, build upon and improve your trading strategy for those pairs.

How do we know if and/or when we are "accustomed" (comfortable) with our trading/monitoring strategy with 3 or 4 crypto/USD pairs and can move up to implementing our trading strategy on more than 3 or 4 crypto/USD pairs?  One good way of answering this question is to WAIT for a fast dump of 6 percent or more within a 4 hour span of time.  You will find out real quick if you are "accustomed" (comfortable) with your trading/monitoring strategy for several pairs you are trading if there was a dump of 6 percent or more within a 4 hour span of time.  Especially, if you did not have a stop loss or trailing stop on those pairs.  Did you have access to your 3rd party API and/or exchange during the dump?  Did you have alarms in place and the ability to hear and/or get alarm notifications in an efficient and timely manner in order to know you need to get access to your 3rd party API and/or exchange?  Did you have multiple monitors to EASILY see ALL of your crypto assets on individual charts (windows) and the mental fortitude to deal with possible stress experienced during the 6% or more drop?  Did you stay mentally composed in order to accurately read the indicators in multiple time frames EASILY on MULTIPLE monitors for EACH crypto asset during the dump in order to make a properly informed decision of what to do next?  Did you have MULTIPLE plans prepared in your mind and/or on paper to implement if such an event were to occur?  Did you have the mental and emotional fortitude to implement one or more of those plans on each crypto asset in an efficient and timely manner during that dump event that occurred within a 4 hour span of time?  etc...  By the way, this scenario of a dump occurring during a 4 hour span of time was provided as an example for one who is an aspiring "Day Trader" [With the TIME to be a Day Trader] who was "Mid Term Trend Trading" (MTTT) using the 45m, 60m, 90m, 2h, 3h, 4h, 6h, 8h, 10h and 12h time frames with the 4h and 6h as a compass.  If you were familiar with my indicators, you would know what I mean by saying the 4h and 6h time frames were used as a "compass."

High Long Term Trend Trading (HLTTT):  
Lowest and Highest TF's used in HLTTT:  Weekly is the LOWEST Time Frame (TF) used in HLTTT and Monthly is the HIGHEST TF in HLTTT.  
Common TF's used in HLTTT:  Weekly, 9-Day, 12-Day, 2-Week, 16-Day, 21-Day, 25-Day and Monthly.
Time Frame(s) is used as a Compass Majority of the Time in HLTTT:  9-Day Time Frame.
Number of trades implemented and how often are they implemented in HLTTT:  Two (2) trades every 3 to 4 years in crypto markets.  Can vary in other markets.
Capital Safeguards for HLTTT:  Once bought on exchange, immediately take off exchange and store in cold storage.  When selling immediately buy gold and/or silver to hold till approximately a month or two before reversal from Distribution (Long Term Bear Trend) to Accumulation Phase before a long term bull trend begins.  NEVER leave large amounts of capital in anyone else's control other than yourself.  Which means I do not put large sums of capital in the bank, deposit box, etc...  I often sell my gold locally and on eBay.  When shipping gold, ALWAYS ship via UPS (United Parcel Service) WITH insurance and DIRECT signature required.
Percentage of capital used for HLTTT:  70 Percent.

Long Term Trend Trading (LTTT):
Lowest and Highest TF's used in LTTT:  12h is the LOWEST Time Frame (TF) used in LTTT and 2-Week is the HIGHEST TF used in LTTT.
Common TF's used in LTTT:  12h, 24h, 2-Day, 3-Day, 4-Day, 5-Day, 6-Day, Weekly, 9-Day, 12-Day and 2-Week.
Time Frame(s) is used as a Compass Majority of the Time in LTTT:  3-Day and 4-Day Time Frames.
Number of trades implemented and how often are they implemented in LTTT:  Two (2) trades every 2 to 12 weeks.  Depends heavily on what's seen in the indicators in those commonly used time frames.
Capital Safeguards for LTTT:  Once bought on exchange, immediately take off exchange and store in cold storage.  When selling immediately take tethers off exchange and store in cold storage until a few days before likelihood of reversal to upward pressure again.  For example, it currently looks like possible reversal around mid September.  Time to transfer Tethers back to exchange around September 9th.  That date could change as September 9th approaches based on what we are seeing in the indicators.
Percentage of capital used for LTTT:  15 Percent.

Mid Term Trend Trading (MTTT):
Lowest and Highest TF's used in MTTT:  45 minute (45m) is the LOWEST Time Frame (TF) used in MTTT and 12h is the HIGHEST TF used in MTTT.
Common TF's used in MTTT:  45m, 60m, 90m, 2h, 3h, 4h, 6h, 8h, 10h and 12h.
Time Frame(s) is used as a Compass Majority of the Time in MTTT:  4h and 6h Time Frames.
Number of trades implemented and how often are they implemented in MTTT:  Two (2) trades every 12 hours to 96 hours.  Depends heavily on what's seen in the indicators in those commonly used time frames.
Capital Safeguards for MTTT:  The remaining 10 percent I use for Mid Term Trend Trading and 5 percent used for High Time Frame Scalping and Low Time Frame Scalping is kept on exchange.  This way, 85 percent of my capital [Whether it's in crypto, precious metals or FIAT] is ALWAYS protected.  While the remaining 15 percent for Mid Term Trend Trading, High Time Frame Scalping and Low Time Frame Scalping is all that's at risk.
Percentage of capital used for MTTT:  10 Percent.

High Time Frame Scalping - (HTFS):  This type of trading is often done with margin trading because the price movement is often large enough to cover the trading fees under the right market conditions.
Lowest and Highest TF's used in HTFS:  5 minute (5m) is the LOWEST Time Frame (TF) used in HTFS and 3h is the HIGHEST TF used in HTFS.
Common TF's used in HTFS:  5m, 10m, 15m, 20m, 30m, 45m, 60m, 90m, 2h and 3h.
Time Frame(s) used as a Compass Majority of the Time in HTFS:  This can vary depending on the crypto pair traded and the market conditions seen in the indicators.  The compass usually falls somewhere between the 15m and 45m time frames based on the crypto pair traded and the market conditions seen in the indicators.
Number of trades implemented and how often are they implemented in HTFS:  Two (2) trades every 30 minutes to as high as 15 hours.  Depends heavily on what's seen in the indicators in those commonly used time frames.  It also depends on when my trailing stop is triggered.  Which is why my second trade to exit and/or reverse position could last as long as 15 hours before my trailing stop is finally triggered; my market sell is automatically implemented and I begin a new position to the reverse if the indicators are favorable.  Sometimes, I have to be patient and wait after a trailing stop is triggered to allow the indicators to show me a more obvious directional pressure signal before opening another position.
Capital Safeguards for HTFS:  The remaining 10 percent I use for Mid Term Trend Trading and 5 percent used for High Time Frame Scalping and Low Time Frame Scalping is kept on exchange.  This way, 85 percent of my capital [Whether it's in crypto, precious metals or FIAT] is ALWAYS protected.  While the remaining 15 percent for Mid Term Trend Trading, High Time Frame Scalping and Low Time Frame Scalping is all that's at risk.
Percentage of capital used for HTFS and/or LTFS:  5 Percent for HTFS and/or LTFS.

Low Time Frame Scalping - (LTFS): This type of trading is often done with very low leverage since the price movement may not move quite enough at times to justify paying the higher fees associated with higher leverage.
Lowest and Highest TF's used in LTFS:  1 minute (1m) is the LOWEST Time Frame (TF) used in LTFS and 30m is the HIGHEST TF used in LTFS.
Common TF's used in LTFS:  1m, 2m, 3m, 5m, 10m, 15m, 20m and 30m.
Time Frame(s) used as a Compass Majority of the Time in LTFS:  This can vary depending on the crypto pair traded and the market conditions seen in the indicators.  The compass usually falls somewhere between the 2m and 10m time frames based on the crypto pair traded and the market conditions seen in the indicators.
Number of trades implemented and how often are they implemented in LTFS:  Two (2) trades every 5 minutes to as high as 45 minutes.  Depends heavily on what's seen in the indicators in those commonly used time frames.  It also depends on when my trailing stop is triggered.  Which is why my second trade to exit and/or reverse position could last as long as 45 minutes before my trailing stop is finally triggered; my market sell is automatically implemented and I begin a new position to the reverse if the indicators are favorable.  Sometimes, I have to be patient and wait after a trailing stop is triggered to allow the indicators to show me a more obvious directional pressure signal before opening another position.
Capital Safeguards for LTFS:  The remaining 10 percent I use for Mid Term Trend Trading and 5 percent used for High Time Frame Scalping and/or Low Time Frame Scalping is kept on exchange.  This way, 85 percent of my capital [Whether it's in crypto, precious metals or FIAT] is ALWAYS protected.  While the remaining 15 percent for Mid Term Trend Trading, High Time Frame Scalping and Low Time Frame Scalping is all that's at risk.
Percentage of capital used for HTFS and/or LTFS:  5 Percent for HTFS and/or LTFS.

I mentioned "Distribution" and "Accumulation" above.  The chart provided below is Bitcoin History From 2012 to Present Day Using Wyckoff Method.  You will see the year of "Distribution" we had in 2014 and 2018.  You will also see the 3.5 months of "Accumulation" we had in 2012, 9 months of "Accumulation" we had in 2015 and 4 months of "Accumulation" we had in 2019.  AFTER "Accumulation" we had bouts of "Re-Accumulation" in 2013, 2016, 2017 and Re-Accumulation occurring now in this 3rd Quarter of 2019.  Here is a link to a brief tutorial for Wyckoff Method:  https://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_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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August 24, 2019, 01:19:44 PM
 #246

Holy shit that's some major info  Cool
Need to take some time to sit down and interpret it.

I have done some trading in bitcoin but I figured out that stop losses can kill you.
If you look at the current graph that red dildo will get you stopped out and if it is followed by a green dildo you lost major money.

A technique I thought up which I would consider is anomaly trading. When a big dildo hits open a trade in opposite direction. Good chance the market will correct and give you direct profits.

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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August 24, 2019, 01:37:10 PM
 #247

We have battle between 9900-10500
If btc will break 9800 then we will retest 9k .9500k will not hold by my opinion
Look weekly chart Weekly macd is becoming bearish it looks similar to nov 2018 sell off
Worst is that so small liquidity.All that last hossa was driven by derivative trading mostly
Derivatives are creating bubbles the end is very painful
Bitcoin is not safe  heaven it most and tu risky blue chip asset
Around 8500 is global support if that will break down then we will see level 7k-7500 i guess
But btc love to rebound from bearish scenario and turn bears in to bulls
Generally i think ultimate bull run will begin November until that we will have that last accumulation phase

 
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August 24, 2019, 01:44:41 PM
Last edit: August 24, 2019, 01:58:04 PM by dmwardjr
 #248

Holy shit that's some major info  Cool
Need to take some time to sit down and interpret it.

I have done some trading in bitcoin but I figured out that stop losses can kill you.
If you look at the current graph that red dildo will get you stopped out and if it is followed by a green dildo you lost major money.

A technique I thought up which I would consider is anomaly trading. When a big dildo hits open a trade in opposite direction. Good chance the market will correct and give you direct profits.

ROFLMAO  

The reason I did NOT use the term "Swing Trading" is because many people use the term "Swing" quite loosely without any clarification as to what time frame they are using to trade "Swings."  This is why I was more descriptive (detailed) with what time frames are used with different types of trading.

Not everyone has the same amount of time available to trade.  Some may have full time jobs and cannot afford the time to trade full time to qualify as a "Day Trader" like myself.  Which is another reason why I was more descriptive in regard to different types of trading in different time frames.  I provided that information to especially inform new traders what time frames they should be using with indicators for the amount of TIME they have available for trading.

I agree with you on the occasions when there is a big red candle followed by a big green candle.  Those do occur on occasions.  It also depends on the time frame you're trading in accordance with what type of trading your doing.  My reply cannot be simply cut and dry because of different scenarios.  One must keep in mind that SEVENTY (70) PERCENT (%) of your capital invested in a particular crypto pair should already be off exchange in cold storage.  At least that is my personal preference.  So, if a big red candle played out on the Daily and followed by a big green candle on the Daily, I'm not worried about that kind of price action for the 70 percent bag I'm holding off exchange in cold storage.

It's the remaining 30 percent you may or may not have on exchange in which a move like that may freak you out.  Also, I prefer using TRAILING STOPS instead of "stop loss" or "stop limit" orders.  Maybe you're thinking, "My exchange does not have a 'trailing stop' feature?"  If that is what you're thinking, that's why I mentioned using a 3rd party.  Such as 3Commas:  https://3commas.io/s?utm_expid=.2WnYy79yStqoakYyk_Avqg.1&utm_referrer=  It is a PAID service in which you use an API to connect to your exchange that does NOT offer a "Trailing Stop" feature.  YET, 3Commas DOES HAVE a "Trailing Stop" feature built into their platform to allow you to use a "Trailing Stop" on your exchange.  A Trailing Stop comes in very handy once you are in profit and you wish to stay in your trade and/or position longer for a chance to increase your gains WHILE protecting yourself from serious loss.

It's also a good idea to keep tabs on the price action by setting price alarms and indicator alarms on TradingView just in case that scenario were to occur.  This way you are allowing yourself preparation if such an event were to occur.

Like I said, the answer is not quite so cut and dry because of different scenarios.  However, what you are describing does not occur as often in the 12h TF and higher as it does in lower TF's; such as the 4h and lower.

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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August 24, 2019, 01:55:49 PM
 #249

Hi Pab,

Thanks for dropping by.   Smiley

We have battle between 9900-10500
If btc will break 9800 then we will retest 9k .9500k will not hold by my opinion
Look weekly chart Weekly macd is becoming bearish it looks similar to nov 2018 sell off
Worst is that so small liquidity.All that last hossa was driven by derivative trading mostly
Derivatives are creating bubbles the end is very painful
Bitcoin is not safe  heaven it most and tu risky blue chip asset
Around 8500 is global support if that will break down then we will see level 7k-7500 i guess
But btc love to rebound from bearish scenario and turn bears in to bulls
Generally i think ultimate bull run will begin November until that we will have that last accumulation phase

I agree...  By the way, if you haven't watched this video yet, you may want to consider watching it:  https://www.tradingview.com/chart/BTCUSD/Hu0j6YGW-Downward-Pressure-WILL-Still-Continue-to-Mid-to-Late-September/

If we break below $9,700, we will continue down to my FIB at $9,120.16 once again with no problem.  If we begin falling significantly below my FIB at $9,120.16, We should find support within the price range of my Aqua colored box between my FIB's at $7,826.23 and $8,386.86 by mid to late September.  Also, if you haven't noticed, the GREEN 50-MA and ORANGE 60-MA in the 4-Day TF appears to be lining up with my FIB's at $7,826.23 and $8,386.86.

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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August 24, 2019, 02:45:08 PM
 #250

Hi Pab,

Thanks for dropping by.   Smiley

We have battle between 9900-10500
If btc will break 9800 then we will retest 9k .9500k will not hold by my opinion
Look weekly chart Weekly macd is becoming bearish it looks similar to nov 2018 sell off
Worst is that so small liquidity.All that last hossa was driven by derivative trading mostly
Derivatives are creating bubbles the end is very painful
Bitcoin is not safe  heaven it most and tu risky blue chip asset
Around 8500 is global support if that will break down then we will see level 7k-7500 i guess
But btc love to rebound from bearish scenario and turn bears in to bulls
Generally i think ultimate bull run will begin November until that we will have that last accumulation phase

I agree...  By the way, if you haven't watched this video yet, you may want to consider watching it:  https://www.tradingview.com/chart/BTCUSD/Hu0j6YGW-Downward-Pressure-WILL-Still-Continue-to-Mid-to-Late-September/

If we break below $9,700, we will continue down to my FIB at $9,120.16 once again with no problem.  If we begin falling significantly below my FIB at $9,120.16, We should find support within the price range of my Aqua colored box between my FIB's at $7,826.23 and $8,386.86 by mid to late September.  Also, if you haven't noticed, the GREEN 50-MA and ORANGE 60-MA in the 4-Day TF appears to be lining up with my FIB's at $7,826.23 and $8,386.86.


Thanks.good chart
Are you familiar with Gann method
Google if not and if you are interested in some alternative view
But that alternative are showing more or less the same like your chart and Eliot patterns
But Gann mathod are extracted 26.08 - 28.08 like pivot days for bitcoin
Whatever happen i think any downturn will cause strong bull move

 
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August 26, 2019, 02:32:06 AM
 #251

Thanks.good chart
Are you familiar with Gann method
Google if not and if you are interested in some alternative view
But that alternative are showing more or less the same like your chart and Eliot patterns
But Gann mathod are extracted 26.08 - 28.08 like pivot days for bitcoin
Whatever happen i think any downturn will cause strong bull move

Sure...  You are welcome.

Yes, I'm somewhat familiar with Gann.  I have posted a chart or two back in history in this forum using Gann.  However, I have not invested as much time required to use Gann as the creator intends for one to use it.

Yes, any downturn will be fuel for a strong bull move the 4th quarter of 2019.  I'm expecting us to test the All Time High by year end.

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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August 28, 2019, 09:39:55 PM
 #252

I've had a request to do another TA for bitcoin. I've been super busy remodeling my office while also selling more hardware (AMD graphics cards, motherboards, RAM, power supply units, power distribution units, CPU's, etc...) out of my mining room on eBay. I've had only 2 hours sleep over the past 37 hours.

If you watched the video publication I posted on the same day as this chart publication, you will be reminded I said I'm expecting downward pressure to continue to mid to late September. I also pointed out in that video publication I'm expecting the price to come down to the GRAY 40-EMA in the 4-Day time frame. That puts the price to come down to $9,120 "at a minimum." It's POSSIBLE we could go lower (as shown in the 4-Day chart below). I placed dotted lines to show the POSSIBLE future trek of the GRAY 40-EMA in the 4-Day TF, the GREEN 50-MA and ORANGE 60-MA in the 4-Day TF.

It's POSSIBLE we continue going out sideways (never substantially below $9,120) in a similar fashion as what occurred in 2012 before bolting upward again in late 2012. It's also possible we continue down further to the 50-MA or 60-MA in the 4-Day TF.

BOTTOM LINE: We will LIKELY continue with downward pressure for the LONG TERM until mid to late September.


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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September 10, 2019, 03:19:11 AM
 #253

"Part 1: Let's Have a Look at Moving Averages in 4-Day TF." https://www.tradingview.com/chart/BTCUSD/o8G5hLfO-Part-1-Let-s-Have-a-Look-at-Moving-Averages-in-4-Day-TF/

"Part 2: Where We Are in a Wyckoff Accumulation Schematic?" https://www.tradingview.com/chart/BTCUSD/iw2SJB1J-Part-2-Where-We-Are-in-a-Wyckoff-Accumulation-Schematic/

"Part 3: Downward Pressure Still Till Mid to Late September."  https://www.tradingview.com/chart/BTCUSD/Ux7AzzwZ-Part-3-Downward-Pressure-Still-Till-Mid-to-Late-September/

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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September 10, 2019, 04:20:28 AM
Last edit: September 10, 2019, 05:47:07 AM by dmwardjr
 #254

ANYONE who comes into this thread with the sole intent of name calling while trying to debate a point WILL have their post deleted.  One can debate WITHOUT accusing another of lacking common sense, etc...  Such statements are unnecessary and not profitable for discussion.  One can make their point WITHOUT trying to demoralize another.  You should have made your case WITHOUT trying to demoralize someone and let the other readers be the judge with whom they agree and/or disagree.  Other readers are more likely to join in and contribute to the conversation if they feel like they can do so without being demoralized by another who's on a mission to disrespect others who have a differing opinion.

IF ANYONE uses phrases towards another contributor in this thread that's INTENTIALLY abusive towards the contributor, their post will be subject to deletion.

IF ANYONE CONTINUES to be disrespectful towards other contributors AFTER repeatedly being asked to refrain from their disrespectful behavior, they will be reported and permanently banned from posting in this thread.

In case you're wondering WHY I've made the previous stipulations; it's due to someone who violated those stipulations and resulted in their posts being deleted.  All I ask is to treat others as you want to be treated.  However, if you actually want to be treated like a degenerate, you are NOT welcome here.

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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September 10, 2019, 04:45:12 AM
Last edit: September 10, 2019, 05:49:44 AM by dmwardjr
Merited by figmentofmyass (5)
 #255

What a joke.  You started losing in the argument and just deleted all the posts because you were losing.  There was no name calling or anything.  For your next "godmode" technical analysis, you'll probably claim women should be allowed to vote even though their genetic makeup makes them completely incapable of practicing utilitarianism, just provider identification and resource extraction.

I respectfully ask you to no longer post here in this forum.  You are no longer welcome here.  I'm NOT going to argue with you anymore.  You're OPINION of me "losing" an argument is also subjective.  Which means I REFUSE to get pulled into an argument with you again.  It's the same similar comments you made in previous posts similar to the current one; such as your comment about women being allowed to vote; as to WHY I deleted your previous posts.  

You are biased against crypto and PRO precious metals.  I get it...  I also explained WHY I believe crypto is better than precious metals.  Unfortunately, you wanted to put words in my mouth (words I did not say) and continue arguing about things I DID NOT SAY.  You also included demoralizing statements in your baseless arguments about things I did NOT say.  My TIME is too valuable to argue about things I did NOT say.

It appears you have allowed your bias against crypto to deprive you of the ability to communicate respectfully with others who have a differing opinion.  Therefore, I respectfully ask you to stop posting here.  You are no longer welcome in this thread. It appears your only interest is to disrespect those who do not agree with your opinion by making demoralizing comments towards those with a differing opinion.  Your disrespectful comments are NOT profitable for discussion and by no means tactfully attempt to convince another reader to contemplate your argument(s); much less agree with your argument(s).

Also, this thread is to cover technical analysis for crypto while using Godmode and other indicators.  This thread is NOT for the purpose of discussing the pros and cons of crypto versus precious metals.  I would be perfectly fine with discussion of precious metals versus crypto and other subjects in this thread IF THEY COULD BE DISCUSSED RESPECTFULLY.  However, you chose not to be respectful from your very first post.  I tried to have a meaningful discussion with you while ignoring the disrespectful comments in your first post.  Yet, you followed up with more disrespectful comments and also stated things I CLEARLY did not say.  You tried my patience and used up my valuable time long enough.

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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September 10, 2019, 03:31:13 PM
 #256

This chart is my response to a good question about the Bitcoin Block Halving:


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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September 10, 2019, 03:48:56 PM
 #257

The following chart is a visual of Bitcoin History Using Wyckoff Method in the 4-Day TF rather than the usual Weekly TF.  You can see we are approaching the end of Phase D in our third Accumulation Schematic and about to begin Phase E.  Here's a link to the video with a brief explanation of a Wyckoff Accumulation Schematic if you have not seen it yet:  https://www.tradingview.com/chart/BTCUSD/iw2SJB1J-Part-2-Where-We-Are-in-a-Wyckoff-Accumulation-Schematic/


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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September 10, 2019, 04:00:47 PM
Last edit: September 14, 2019, 08:26:57 AM by dmwardjr
 #258

Sharing a comment posted in comments section of the following publication by a loyal follower:  https://www.tradingview.com/chart/BTCUSD/o8G5hLfO-Part-1-Let-s-Have-a-Look-at-Moving-Averages-in-4-Day-TF/


@jpm6g
18 hours ago
Hey David,

I always check first to see whether or not you have posted when I stop by the site. I was happy to see that you had posted today. Glad to hear that your office is shaping up nicely, I know you've been busy.

My gut feeling is with you, that we will move sideways with a smallish dip to meet the 50EMA. I think that this will be more a case of sideways with the 50-MA traveling up to meet price more than price moving down. Just my hunch.I will begin layering in buys once I start to see movement down towards the bottom of the wedge we have formed, where I think we form a bear-trap and reversal to upward pressure.

Thanks again for your analysis and sharing your time and knowledge with this community.


@ProwdClown (dmwardjr)
Just Now

Hi JPM6G,

Thanks for following and your loyal support! VERY MUCH APPRECIATED. ; )

Yes, you may be right in regard to the 50-MA or 40-EMA in the 4-Day TF coming up to meet the price action rather than the price action coming down to meet the 50-MA or 40-EMA.

Your strategy to begin layering (scattering) buy orders once you see movement down towards the bottom of the wedge that's formed sounds logical. I believe that is a very good strategy. In fact, I'm going to share it with the community in an update to this publication. Thanks for dropping by and sharing your opinion.

Stay Awesome!

David




I FINALLY got the PC build completed with two NVIDIA 1080 Ti GPU's and an SLI Bridge to push those three 55 inch 4K TV's.  There is a 15 inch MacBook Pro on the sliding keyboard/mouse drawer to give you perspective of the size of each of the 12 charts on the three TV's.  It's literally like having four 27 inch monitors on each 4K 55 inch TV.  Now I have a LOT of cleaning and organizing to do before I setup the "L" shaped glass desk on top of an 8' x 10' rug.  Also need to setup my new mixer, microphones, 1080p video cameras, etc...



Finally got my network transferred over from my old mining room to the office and cleaned up the wire management a bit. 


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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September 15, 2019, 12:13:47 AM
 #259

   
Hi everyone,

This chart (below) is "BLX"

I can only assume this ticker is an average price of all MAJOR exchanges throughout RECORDED history. I'm not for certain on this. It's only an assumption. I'm noticing several things on this chart that's not seen on a single exchange. I'll share my thoughts on BLX in a video publication later tonight.  I have more work in the office to do first.



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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September 15, 2019, 11:47:32 PM
 #260

Hi everyone,

This chart (below) is "BLX"

I can only assume this ticker is an average price of all MAJOR exchanges throughout RECORDED history. I'm not for certain on this. It's only an assumption.

the index was developed by brave new coin. at this moment it's composed of coinbase, bitstamp, 2 kraken markets, gemini, and itbit. you can see the constituents (including historical ones) here: https://bravenewcoin.com/enterprise-solutions/indices-program/blx

I'm noticing several things on this chart that's not seen on a single exchange. I'll share my thoughts on BLX in a video publication later tonight.

i'm looking forward to it! i always love your videos.

has your view of the market changed at all since your last update on the 10th? it's starting to look like we'll end this correction totally sideways rather than hitting those levels in the $7000s or $8000s.

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