BTCUSD: Chance of Reversal to Sustained Upward Pressure.
Hi Everyone! As you know, we have been in a race between our White Energy in the 12h and the Red RSI in the 24h. We need the White Energy in the 12h to "close" ABOVE level 50 before the Red RSI in the 24h can "cross" BELOW level 50. We actually have a decent CHANCE of this occurring. However, we are not to draw the conclusion a reversal to upward pressure is actually about to occur until we have a look at the three (3) immediate lower time frames (cutting in half each lower time frame) to see if the Green is Higher than the Energy in those three (3) lower time frames.
We already have the Green higher than the Energy in the 90 minute time frame. It will take a couple of more 3h candles before we are able to see if the Green in the 3h can get higher than the Energy. We will not see if the Green can get higher than the Energy in the 6 hour TF until likely AFTER a period of exhaustion in the 6h time frame. During that period of exhaustion, we will need the Green to go sideways (sideways price action) to allow time for the Energy to fall below the Green in the 6h to setup for "Bullish Sentiment."
I'm leaving this publication NEUTRAL for now until we get those confirmations in the lower time frames.
I'm about to head over to another location to get back to work on my other office build. Yes, I will have an office at two different locations. I'll check back in again in several hours.
Happy Trading and Stay Awesome!
David
We already have the Green higher than the Energy in the 90 minute time frame. It will take a couple of more 3h candles before we are able to see if the Green in the 3h can get higher than the Energy. We will not see if the Green can get higher than the Energy in the 6 hour TF until likely AFTER a period of exhaustion in the 6h time frame. During that period of exhaustion, we will need the Green to go sideways (sideways price action) to allow time for the Energy to fall below the Green in the 6h to setup for "Bullish Sentiment."
I'm leaving this publication NEUTRAL for now until we get those confirmations in the lower time frames.
I'm about to head over to another location to get back to work on my other office build. Yes, I will have an office at two different locations. I'll check back in again in several hours.
Happy Trading and Stay Awesome!
David
Comment:
Comment:
UPDATE:
We still need the Green Line to get HIGHER than the White Energy in the 3h and 6h. We will see exhaustion soon. If we go down to $14,xxx, it will begin here.
We still need the Green Line to get HIGHER than the White Energy in the 3h and 6h. We will see exhaustion soon. If we go down to $14,xxx, it will begin here.
Comment:
UPDATE:
During this period of exhaustion of upward to downward pressure, we need the White Energy to fall below the Green Line in the 3h and 6h. White Energy has already fallen below the Green Line in the 3h. It will take a bit more time to see if the same can occur in the 6h.
45m, 90m, 3h, 6h:
During this period of exhaustion of upward to downward pressure, we need the White Energy to fall below the Green Line in the 3h and 6h. White Energy has already fallen below the Green Line in the 3h. It will take a bit more time to see if the same can occur in the 6h.
45m, 90m, 3h, 6h:
Comment:
UPDATE:
If the Red RSI in the 45 minute falls below level 50, we will have a race between the White Energy in the 45 minute and the Red RSI in the 90 minute to see if we can have a quick reversal back to upward pressure and the price action at least go sideways during the downward pressure we seen currently in the 3h and 6h.
If the Red RSI in the 45 minute falls below level 50, we will have a race between the White Energy in the 45 minute and the Red RSI in the 90 minute to see if we can have a quick reversal back to upward pressure and the price action at least go sideways during the downward pressure we seen currently in the 3h and 6h.
A look at the 3h time frame: