Covered more time frames in this video for further clarity... Looks like we will likely come up to test the 200-MA in the Daily (24h) TF. Then we will likely come back down again about the time the 50-MA meets the 200-MA in the Daily. However, I believe that event will be used as a shakeout (bear trap) to lull in shorts to squeeze them shortly thereafter. If you wish, you can wait until the event I mentioned of the 50-MA POTENTIALLY making contact with the 200-MA in the Daily before making your trading decision. That's perfectly fine. I'm simply providing my personal OPINION...
If you don't mind Lestrade clumsily trying to mimic Sherlock Holmes' methods, I see that after an 8 hour dump (maybe more) the purple energy in 5 day timeframe turned down after the new candle, the blue LSMA still probing bottom, green line in 6 day turned down in yesterday's new candle, purple energy in 4 day turning down and way above blue LSMA, 3 day crossing through 50% line downwards, and the daily and the 12H are going down refusing to form a large purple blob. I guess the general direction in weekly to biweekly is up, but the price action indicated by the lower timeframe appears to look grim in the next 2-3 4-day candles?
I also have the looming feeling that the composite group(s) would have liked one last capitulation to whatever extent, to pull down all those weak longs to spill blood on the street everywhere before finally pump for good?
After a month stagnating above the weekly 100 EMA (roughly 7750) I suppose there would be substantial amount of stop-losses right below that line. Wouldn't the market markers want to at least dump it back down below 7750 to hunt stop-sells and foolhardy shorts from intrepid bears to fill their long orders?
Shoot down some longs and fill their bags against retailers' shorts to slingshot upwards, sounds to me a very reasonable proposition, given the grim look in roughly the next 10 days. My inspector Lestrade take on this crime scene.
WyckoffMode
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@popovichian,
I drew the Green Line with arrow coming up from current Green Line in Godmode in this 5-Day TF to show how it could end up playing out very similar to 12 Dec. 2018. Also, keep in mind the current 5-Day candle just began. It's possible the Green Line and White Energy could possibly finish "up" by the time the current 5-Day candle is completed. However, it may end up looking like 12 Dec. 2018 5-Day Candle. It's important to note the price action on the 12 Dec. 2018 5-Day Candle did not go down very much at all and the next two candles went up a decent amount before falling back within a trading range. We may see very similar present day. We'll see within the next several days.
WyckoffMode
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@popovichian,
It's possible the price action may end up playing out in the 5-Day as follows:
WyckoffMode
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@popovichian,
Here's a "Pulled Back View" of the 5-Day:
Popovich
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@WyckoffMode, Thank you. Not sure if I am asking too much. Do you think your last post on ethereum still holds true or you think it's about time to pump along with bitcoin?
The godmode from 6 days or less looks grim and that from 7-12 days are zigzagging. A bit confusing.
WyckoffMode
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@popovichian,
Let me make a pot of coffee... Then I'll go downstairs and have a look... Then post a video publication FIRST for BTCUSD and then ETHUSD.
WyckoffMode
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@popovichian,
By the way, here's text bubbles for the 5-Day TF:
Popovich
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@WyckoffMode, I am probably demanding too much and you have been too kind :) Please take your time, go with your rthythm as you please. We all thank you for your dedications.
Popovich
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@popovichian, $7450 as of writing. Christ I hate to be right in my conjecture when I am doing the exact opposite. God looks like more is incoming
Popovich
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Thank you for showing us a more accurate way of reading the indicators. I hope to be able to come to a similar level of understanding some day and reach similar quality of conclusions reading those indicators.
I also have the looming feeling that the composite group(s) would have liked one last capitulation to whatever extent, to pull down all those weak longs to spill blood on the street everywhere before finally pump for good?
After a month stagnating above the weekly 100 EMA (roughly 7750) I suppose there would be substantial amount of stop-losses right below that line. Wouldn't the market markers want to at least dump it back down below 7750 to hunt stop-sells and foolhardy shorts from intrepid bears to fill their long orders?
Shoot down some longs and fill their bags against retailers' shorts to slingshot upwards, sounds to me a very reasonable proposition, given the grim look in roughly the next 10 days. My inspector Lestrade take on this crime scene.