Follow-Up to Previous Video After New 3-Day Candle Has Begun.
You can still sell a small percentage of your trading bag while holding onto more of your trading bag in case it continues up further to avoid missing out on more gains. Make sure to implement a stop loss or stop limit as a safeguard to keep losses small and gains large.
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It's STILL POSSIBLE this may only be a "TIME" CORRECTION with sideways price action within a $1,200 price range instead of a "PRICE" CORRECTION resulting in a 25 percent or more drop. Which is why I said, "If you want to play it safe and sell a small percentage to lock in some profits, while continue to hold with a larger percentage and a rather tight stop loss/stop limit in place.
If you decide to put a rather tight stop loss/stop limit in place, you will be forced to stay on top of it if a drop ensues to trigger your stop loss/stop limit order. Cause it's still hard to say if the drop will be sustained for a while or if it will only be brief because of what we are seeing with the Purple Energy in the Weekly, 9-Day and 2-Week Time Frames (TF's).
The Purple Energy in the Weekly TF (Far Left) and 9-Day TF (Center) appears as if it MIGHT try to go above the 50% level in a similar way it did back in 2012 and 2013.
The Purple Energy in the 2-Week TF (Far Right) is currently at 70% level and still has room to fall to the 50% level to seal the deal for sustained downward pressure.
If you decide to put a rather tight stop loss/stop limit in place, you will be forced to stay on top of it if a drop ensues to trigger your stop loss/stop limit order. Cause it's still hard to say if the drop will be sustained for a while or if it will only be brief because of what we are seeing with the Purple Energy in the Weekly, 9-Day and 2-Week Time Frames (TF's).
The Purple Energy in the Weekly TF (Far Left) and 9-Day TF (Center) appears as if it MIGHT try to go above the 50% level in a similar way it did back in 2012 and 2013.
The Purple Energy in the 2-Week TF (Far Right) is currently at 70% level and still has room to fall to the 50% level to seal the deal for sustained downward pressure.
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Here is a reminder of what the Purple Energy in the Weekly (Far Left), 9-Day (Center) and 2-Week (Far Right). I placed black circles on the Purple Energy in the Weekly where it turned back up above the 50% level in 2012 and 2013. Then I generated the other two time frames while keeping the black circles in the same location so you could see what the Purple Energy looked like in the 9-Day and 2-Week TF's in 2012 and 2013.
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To Be Clear: We are simply at a point in which it COULD turn either way. Just because we had the Energy in the Weekly and 9-Day turn back up again back in 2012 and 2013, I do NOT want to assume they will do the same present day.
Yes, there is still a decent chance this is only a TIME correction (going sideways within a trading range before continuing up) instead of a PRICE correction (going down 25% or more to refuel before turning back up). We are simply at a point within the indicators at this current time that has us "undecided" because of "mixed" signals in lower time frames; such as the 12h, 24h and 2-Day time frames. I just want my followers to be "SAFE."
Yes, there is still a decent chance this is only a TIME correction (going sideways within a trading range before continuing up) instead of a PRICE correction (going down 25% or more to refuel before turning back up). We are simply at a point within the indicators at this current time that has us "undecided" because of "mixed" signals in lower time frames; such as the 12h, 24h and 2-Day time frames. I just want my followers to be "SAFE."
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I'm leaning towards a fairly decent correction similar to mid May, 2019. I'm thinking if we do have that correction without going below $9,948.98; then bouncing back up to $11,399.70; we stand a good chance of this only being a time correction and the bull trend is on for a higher high to a price range between $14,780.60 and $16,096.08. Below is a chart to let you see where those price targets are in relation to history:
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24h TF chart again...
You can compare this chart to what was posted 9 hours ago:
You can compare this chart to what was posted 9 hours ago:
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Posting 24h again to show additional information with the Phoenix Ari and Stochastic RSI.
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Hopefully, everyone had a stop loss, stop limit or trailing stop in place and it was triggered earlier today. If you want to see where I see the price potentially falling to, that would be in the price range identified by the yellow box. You can scatter buy orders a little above, some within and maybe a few below the yellow box.
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My bad... I forgot to show a price range for you. It's hard to see what price range without prices available. Here they are:
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It's possible this may stair step down over time. Which means it may not come down in this one 24h candle. It could take several days or up to several weeks. If you feel more comfortable dollar cost averaging by simply buying each significant dip on the way down, then do it that way. Nothing wrong with doing it that way if you want to avoid missing out just in case it does not drop as low as I'm suggesting. After-all, I did say to place buy orders ABOVE, WITHIN and BELOW that yellow box.
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I actually recommend you do as I suggested and buy every dip on the way down using the dollar cost averaging system to AVOID losing out just In case this is as low as it goes.
Happy Trading!
Stay Awesome!
David
Happy Trading!
Stay Awesome!
David
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As I mentioned earlier, "There is still a decent chance this is only a TIME correction (going sideways within a trading range before continuing up) instead of a PRICE correction (going down 25% or more to refuel before turning back up). I prefer you dollar cost average to get in at every significant dip on the way down since we have a hard time knowing if this is a simple TIME correction or a PRICE correction. If this ends up being a PRICE correction, it can take several weeks before finding bottom. If you are wondering where the absolute bottom would be in a PRICE correction of 25% or more, then have a look at the 21-EMA in the WEEKLY Time Frame in the chart below. You will see it is currently at $7,060. It will continue rising each week as the price falls each week to meet it. I expect the price range for absolute bottom of a MAJOR PRICE correction would end up being between $7,100 and $7,500.
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We are in a BULL Market. WHY am I saying that? Because I want you to pay attention to the 21-EMA in the WEEKLY Chart "ONLY" during a bull market. WHY? Because the 21-EMA acts as SUPPORT in a BULL Market and acts as RESISTANCE in a BEAR Market. So, I say again, We are in a BULL Market. We had one time in a Bull Market in 2016 in which the price fell substantially below the 21-EMA. That was because of the BitFinex inside hack job of July, 2016. We don't have that this go around.
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2-Day Time Frame:
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Taking into consideration the 21-EMA in the Daily TF when Dollar Cost Averaging:
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Forgot to show the price for the upper portion of the Blue Box if using the Dollar Cost Averaging Technique:
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Pointing out the 21-EMA, 50-MA and 100-MA in the 3h time frame if Day Trading in low time frames.
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There's actually a decent chance for us to have a double top of sorts. I'll explain later this evening. Hopefully, some of you have been making re-entry on dips in the 12h and/or Daily time frames using the Dollar Cost Averaging Technique.
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I'll provide a NEW Video Publication for BTCUSD BitStamp some time this evening.
I'm still not convinced yet we are going up to higher highs based on what I'm seeing in the indicators. I will provide a more detailed explanation in a video later.
I've been hard at work with designing and building two pedestals to set a 10 feet long counter top on top of as a desk to go underneath three (3) 55 inch 4K Televisions I'm going to use as monitors. Each 55 inch 4K television will be equivalent to four (4) 27 inch monitors. So, it will be like having twelve (12) 27 inch monitors on a wall. I'm mounting the 55 inch TV's on the wall above the counter top with wall mounts. I also bought anti-slamming drawer slides to mount underneath the countertop to place my keyboard and mouse on. I still have quite a bit of work to do on it but I will make sure to provide a detailed explanation of my "opinion" with current price action after I wake up.
I've been putting this off far too long. I need to get something up "temporary" for now; then get back to work on "content" for my website.
Here's the three (3) 55 inch 4K Televisions:
i.imgur.com/Rgv9jlA.jpg
Here's the countertop:
i.imgur.com/muciHvq.jpg
Here are a few of the items I bought for a computer build to power the three (3) 55 inch 4K Televisions: I bought the EVGA 299X DARK MotherBoard (Not shown). All of these items are still brand new (untouched) in the box. I purchased them in the Fall of 2018. Like I said, "I've put this off far too long. It's time to get it done. At least something temporary.
i.imgur.com/hFN747w.png
i.imgur.com/LIjR8B4.png
You see the white wall mounts in this screenshot:
i.imgur.com/70akYim.png
I have two (2) NVIDIA 1080 Ti K|NGP|N Graphics Cards (shown below) to power the three (3) 55 inch 4K Televisions:
i.imgur.com/mgqsWh8.jpg
I'm still not convinced yet we are going up to higher highs based on what I'm seeing in the indicators. I will provide a more detailed explanation in a video later.
I've been hard at work with designing and building two pedestals to set a 10 feet long counter top on top of as a desk to go underneath three (3) 55 inch 4K Televisions I'm going to use as monitors. Each 55 inch 4K television will be equivalent to four (4) 27 inch monitors. So, it will be like having twelve (12) 27 inch monitors on a wall. I'm mounting the 55 inch TV's on the wall above the counter top with wall mounts. I also bought anti-slamming drawer slides to mount underneath the countertop to place my keyboard and mouse on. I still have quite a bit of work to do on it but I will make sure to provide a detailed explanation of my "opinion" with current price action after I wake up.
I've been putting this off far too long. I need to get something up "temporary" for now; then get back to work on "content" for my website.
Here's the three (3) 55 inch 4K Televisions:
i.imgur.com/Rgv9jlA.jpg
Here's the countertop:
i.imgur.com/muciHvq.jpg
Here are a few of the items I bought for a computer build to power the three (3) 55 inch 4K Televisions: I bought the EVGA 299X DARK MotherBoard (Not shown). All of these items are still brand new (untouched) in the box. I purchased them in the Fall of 2018. Like I said, "I've put this off far too long. It's time to get it done. At least something temporary.
i.imgur.com/hFN747w.png
i.imgur.com/LIjR8B4.png
You see the white wall mounts in this screenshot:
i.imgur.com/70akYim.png
I have two (2) NVIDIA 1080 Ti K|NGP|N Graphics Cards (shown below) to power the three (3) 55 inch 4K Televisions:
i.imgur.com/mgqsWh8.jpg
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Have a look at Purple ENERGY in the 12h TF:
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It's likely BTCUSD is lagging behind the other ALT/USD pairs in an effort to accumulate more Bitcoin on those ALT/BTC pairs that are also traded in USD.
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24h TF:
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Keep in mind the Daily Green 50-MA will rise as the price action falls. The Daily Green 50-MA is currently at $9,136.81. So, it will likely be higher by the time the price action makes it down to the Daily Green 50-MA.
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We may have to wait 7 to 13 more hours before obvious reversal to downward pressure.
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A quick update using the Daily (24h) Time Frame:
Here's the 24h WITHOUT indicators:
Here's the 24h WITH indicators: Focus on text bubbles inside the indicators on this chart.
I know I still haven't done a new video publication update for near, mid and long term analysis. I enjoyed time with relatives yesterday and the day before. I'm back home now and about to get back to building my two pedestals to hold up the new countertop that will act as a desk underneath the three (3) 55 inch TV's.
The TV's will be mounted to the wall. What I'm focusing on today will be to add a plywood wall to 2x4 studs that I will attach to the existing wall. I need those 2x4 studs behind the new plywood wall to help support the wall mounts for the TV's. I'm also painting the new plywood wall and existing sheet-rock wall before attaching the wall mounts to the new plywood wall.
Here's the 24h WITHOUT indicators:
Here's the 24h WITH indicators: Focus on text bubbles inside the indicators on this chart.
I know I still haven't done a new video publication update for near, mid and long term analysis. I enjoyed time with relatives yesterday and the day before. I'm back home now and about to get back to building my two pedestals to hold up the new countertop that will act as a desk underneath the three (3) 55 inch TV's.
The TV's will be mounted to the wall. What I'm focusing on today will be to add a plywood wall to 2x4 studs that I will attach to the existing wall. I need those 2x4 studs behind the new plywood wall to help support the wall mounts for the TV's. I'm also painting the new plywood wall and existing sheet-rock wall before attaching the wall mounts to the new plywood wall.
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Hi everyone,
It has been a LONG day!
You would not believe all the measuring I've had to do today. I had to measure the following:
From the floor to the top of my counter top.
From the floor to the top of my backsplash on top of my counter top.
From the bottom of one of my 55 inch 4K TV's to the bottom two slots for nuts for the wall mount to get an idea of how high to attach my wall mounts to the wall to have clearance above the backsplash of the counter top. etc... etc... I won't bore you with all the measurements I had to make but it was a LOT.
I have everything attached to the wall for all three wall mounts (shown below) for three (3) 55 inch 4K TV's. Where you see sheetrock is where wiring can be ran behind the plywood I'm about to mount to the wall. I even left a couple of gaps up top in case I want to run some wiring to the top of the plywood that will only go 72 inches high from the floor. Now I have to measure the placement of the bottom tops and sides of each back support for the wall mounts before covering them with plywood and painting. This way I will know where to mark everything AFTER painting in order to attach the wall mounts to their supports.
i.imgur.com/ZD0wAws.jpg
Here's a side view for you to see the plywood I already have mounted to the 2x4's from the floor to 2 feet high off the floor. You also see I have a portion of the 2x4's above the plywood exposed where I will attach the bottom of large sheets of 4'x8' plywood to the 2x4's.
i.imgur.com/Et8e0DG.jpg
It has been a LONG day!
You would not believe all the measuring I've had to do today. I had to measure the following:
From the floor to the top of my counter top.
From the floor to the top of my backsplash on top of my counter top.
From the bottom of one of my 55 inch 4K TV's to the bottom two slots for nuts for the wall mount to get an idea of how high to attach my wall mounts to the wall to have clearance above the backsplash of the counter top. etc... etc... I won't bore you with all the measurements I had to make but it was a LOT.
I have everything attached to the wall for all three wall mounts (shown below) for three (3) 55 inch 4K TV's. Where you see sheetrock is where wiring can be ran behind the plywood I'm about to mount to the wall. I even left a couple of gaps up top in case I want to run some wiring to the top of the plywood that will only go 72 inches high from the floor. Now I have to measure the placement of the bottom tops and sides of each back support for the wall mounts before covering them with plywood and painting. This way I will know where to mark everything AFTER painting in order to attach the wall mounts to their supports.
i.imgur.com/ZD0wAws.jpg
Here's a side view for you to see the plywood I already have mounted to the 2x4's from the floor to 2 feet high off the floor. You also see I have a portion of the 2x4's above the plywood exposed where I will attach the bottom of large sheets of 4'x8' plywood to the 2x4's.
i.imgur.com/Et8e0DG.jpg
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Daily (24h) TF "WITHOUT" indicators:
Daily (24h) TF "WITH" indicators: Our MAIN focus is still the Phoenix ARI in this Daily TF. The other indicators in the Daily seem to also support the current downward pressure.
The indicators in the 6h TF also seems to support downward pressure continuing till at least the later part of the day of July 8th; if not the wee hours of the morning on July 9th.
Daily (24h) TF "WITH" indicators: Our MAIN focus is still the Phoenix ARI in this Daily TF. The other indicators in the Daily seem to also support the current downward pressure.
The indicators in the 6h TF also seems to support downward pressure continuing till at least the later part of the day of July 8th; if not the wee hours of the morning on July 9th.
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I've still been working in my office trying to get it DONE. Sorry, there have not been any updates. It's probably best I don't provide updates until I can give each update 100% of my time. I've GOT TO get my office done!!!
Made my final measurements of all the back supports before placing the plywood over the back supports for the TV wall mounts. I need to cut holes underneath each back support for the wall mounts for wiring to go down and out the bottom in the center.
i.imgur.com/1wTeNjK.jpg
Taped up the molding on the ceiling and placed painters paper on the floor to protect the tile floor.
i.imgur.com/jhNX8Ms.jpg
Here's the first coat of paint:
i.imgur.com/MzkntiM.jpg
Here's a look at the top of the plywood wall I put up. However, the top of this plywood wall and each side will be dressed out with white trim work.
i.imgur.com/a0Lkefl.jpg
Made my final measurements of all the back supports before placing the plywood over the back supports for the TV wall mounts. I need to cut holes underneath each back support for the wall mounts for wiring to go down and out the bottom in the center.
i.imgur.com/1wTeNjK.jpg
Taped up the molding on the ceiling and placed painters paper on the floor to protect the tile floor.
i.imgur.com/jhNX8Ms.jpg
Here's the first coat of paint:
i.imgur.com/MzkntiM.jpg
Here's a look at the top of the plywood wall I put up. However, the top of this plywood wall and each side will be dressed out with white trim work.
i.imgur.com/a0Lkefl.jpg
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I was beginning to have terrible head aches yesterday. Thought it was from lack of caffeine (coffee). Today, my right jaw began getting super sore and swelling up. My dentist was kind enough to fit me in this morning and told me I'm going to have to have a root canal. He referred me to another person for that who was kind enough to fit me in at 7:30am in the morning before his already scheduled appointments. My jaw is not in shape for a much needed video update. Maybe Wednesday...
We had a new 2-Week candle begin this morning. The Purple Energy has yet to hit the 50% level. It's taking it's sweet time about getting to the 50% level. It might hang out to the side for a while before contact with the 50% level. Hard to say at this point in time. I would have thought it would have hit the 50% level by now but it may take one more 2-Week candle.
We had a new 2-Week candle begin this morning. The Purple Energy has yet to hit the 50% level. It's taking it's sweet time about getting to the 50% level. It might hang out to the side for a while before contact with the 50% level. Hard to say at this point in time. I would have thought it would have hit the 50% level by now but it may take one more 2-Week candle.
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Here's a close-up view of ONLY the Godmode indicator in the 2-Week TF:
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They could not save my tooth. They had to extract (pull out) my tooth AND do a bone graft for future implant. I'm currently on pain meds, anti-biotics and something called phinergen (spelling) for nausea from the pain meds. I had to eat before taking the meds to avoid nausea if possible.
I was up all night (could not sleep). I simply stayed awake until my appointment at 7:30am this morning. I'm back home and about to take my meds shortly. Giving my food a little time to digest before taking the meds. The pharmacist said these meds will make me drowsy. So, I'm probably going to be knocked out a while.
Happy trading and Stay Awesome!
David
I was up all night (could not sleep). I simply stayed awake until my appointment at 7:30am this morning. I'm back home and about to take my meds shortly. Giving my food a little time to digest before taking the meds. The pharmacist said these meds will make me drowsy. So, I'm probably going to be knocked out a while.
Happy trading and Stay Awesome!
David
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The swelling has gone down quite a bit on my right jaw. It's still sore. I still have four stitches after getting a bone graft for a future implant that need to come out next week. My talking still sounds like gibberish though. lololol I plan on providing video updates again some time next week. In the meantime, I'm still working on updating my office.
Iast night I completed the two pedestals that my counter top will rest on. Here's a photo of the two pedestals: i.imgur.com/NJmmg5i.jpg One of the pedestals will have a white drawer for my new PC build to sit on. I will be able to slide out my PC on the drawer whenever I need to. Each pedestal is 30 inches wide. The counter top is 120 inches wide.
Here's the counter top that will rest on top of the two white pedestals: i.imgur.com/muciHvq.jpg
Here is an online photo of my computer case. I will have it laying flat on the white drawer I made for it like what you see in this photo: i.imgur.com/X46S4ZS.jpg
Here is an online photo of my computer case standing up: i.imgur.com/9TPKXxG.jpg But remember, I will have it laying flat; as in the previous photo.
Iast night I completed the two pedestals that my counter top will rest on. Here's a photo of the two pedestals: i.imgur.com/NJmmg5i.jpg One of the pedestals will have a white drawer for my new PC build to sit on. I will be able to slide out my PC on the drawer whenever I need to. Each pedestal is 30 inches wide. The counter top is 120 inches wide.
Here's the counter top that will rest on top of the two white pedestals: i.imgur.com/muciHvq.jpg
Here is an online photo of my computer case. I will have it laying flat on the white drawer I made for it like what you see in this photo: i.imgur.com/X46S4ZS.jpg
Here is an online photo of my computer case standing up: i.imgur.com/9TPKXxG.jpg But remember, I will have it laying flat; as in the previous photo.
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Daily (24h) TF:
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