ETHUSD & BTCUSD Publication: Read Comments Section...
We still have a CHANCE for one more leg up AFTER what may possibly be a "TIME" Correction. Meaning, even though we are currently seeing downward pressure in the lower time frames (12h, 24h, and 2-Day time frames), the price action may not go down significantly during this "TIME" or period. We may simply see a "TIME" correction instead of a "PRICE" correction during this "TIME PERIOD." So, there is a CHANCE ETHUSD could leg up one more time AFTER this TIME correction to approximately $400 and BTCUSD could leg up to approximately $15,000.
IT IS VERY IMPORTANT TO REMEMBER we are still experiencing downward pressure during this TIME. So, PLEASE be very careful if you are considering a long position or adding to your bags. It's perfectly fine to add to your bags on dips with Dollar Cost Averaging Technique because we ARE in a BULL Market in my opinion. Yes, we MIGHT continue falling down from here with a PRICE correction instead of a TIME Correction. Even if it did, I do not see us going below $7,000. Which means you can continue adding to your bags on dips on the way down (Dollar Cost Averaging). This way you allow yourself to remain in the game while avoiding the risk of possibly missing out as so many did on the current move up.
So, when buying dips using Dollar Cost Averaging, you should divide up your capital put aside for BTC and/or ETH trading into multiples of 15 to 20 percent of your capital for each purchase of a dip. Meaning, your capital for trading is divided up in a way to allow yourself up to five (5) or six (6) periods of buy orders while it dips down IF we are to have a PRICE correction. If we end up only having a TIME correction you will have purchased in at least one or two periods of buy orders and avoided missing out completely. If it does end up falling down with a PRICE correction, you can rest assured IT WILL COME BACK UP and your capital will be Bigger, Better, Greater, Later. This is how much of the Smart Money does it. They have the capital to afford to be PATIENT.
Keep in mind, you should try to always have a HODL bag that you do NOT consider selling except for once every 2 or 3 years AFTER building up your HODL bag for INVESTMENT purposes. If you also have time to TRADE, you will have capital laid aside for trend trading high time frames as it changes back and forth between trend periods of bull and bear then back to bull. If you have a LOT of time for Day Trading, you may also have capital set aside just for that as well to trend trade lower time frames (1h, 3h, 4h, 6h and 12h). You may have built up experience to also do some scalp trading in very low time frames (1m, 5m, 15m, 30m and 1h). What's most important is to have a PLAN for "INVESTMENT" and a plan for "TREND" Trading High time frames WHILE having most of your capital for INVESTMENT (HODLING) and a smaller percentage of your capital for other types of trading.
IT IS VERY IMPORTANT TO REMEMBER we are still experiencing downward pressure during this TIME. So, PLEASE be very careful if you are considering a long position or adding to your bags. It's perfectly fine to add to your bags on dips with Dollar Cost Averaging Technique because we ARE in a BULL Market in my opinion. Yes, we MIGHT continue falling down from here with a PRICE correction instead of a TIME Correction. Even if it did, I do not see us going below $7,000. Which means you can continue adding to your bags on dips on the way down (Dollar Cost Averaging). This way you allow yourself to remain in the game while avoiding the risk of possibly missing out as so many did on the current move up.
So, when buying dips using Dollar Cost Averaging, you should divide up your capital put aside for BTC and/or ETH trading into multiples of 15 to 20 percent of your capital for each purchase of a dip. Meaning, your capital for trading is divided up in a way to allow yourself up to five (5) or six (6) periods of buy orders while it dips down IF we are to have a PRICE correction. If we end up only having a TIME correction you will have purchased in at least one or two periods of buy orders and avoided missing out completely. If it does end up falling down with a PRICE correction, you can rest assured IT WILL COME BACK UP and your capital will be Bigger, Better, Greater, Later. This is how much of the Smart Money does it. They have the capital to afford to be PATIENT.
Keep in mind, you should try to always have a HODL bag that you do NOT consider selling except for once every 2 or 3 years AFTER building up your HODL bag for INVESTMENT purposes. If you also have time to TRADE, you will have capital laid aside for trend trading high time frames as it changes back and forth between trend periods of bull and bear then back to bull. If you have a LOT of time for Day Trading, you may also have capital set aside just for that as well to trend trade lower time frames (1h, 3h, 4h, 6h and 12h). You may have built up experience to also do some scalp trading in very low time frames (1m, 5m, 15m, 30m and 1h). What's most important is to have a PLAN for "INVESTMENT" and a plan for "TREND" Trading High time frames WHILE having most of your capital for INVESTMENT (HODLING) and a smaller percentage of your capital for other types of trading.
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Are any of my followers having issues with Phoenix 1.118 not working? It's one of my indicators you have to get an INVITE to use.
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Weekly TF for BTCUSD - Remember ETHUSD will be very similar. I will provide a video publication update later this evening.
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I still need to have a look at multiple time frames below and above the Weekly TF. I simply wanted to provide a price range target to spread buy orders within in the event of a Re-Trace while I'm working on straightening up my office. Again, there is NO GUARANTEE we will have a full retrace just yet. This COULD be a bear trap. Let me do a bit more work in my office and allow a little time to pass by in the first day of this Weekly TF before providing a Video Update.
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A closer look at the Daily (24h) TF: The Daily 21-EMA is still likely before a chance for a bounce. The 21-EMA is currently sitting at approximately $10,375. However, it could fall just below the 21-EMA before a bounce. The question is if it will be a legitimate reversal bounce or a dead cat bounce? If a dead cat bounce, the Daily 50-MA will be the next target down to see if it will have a legitimate reversal bounce or dead cat bounce. If a dead cat bounce at the Daily 50-MA, the area shaded in Green will be the "Buy Zone" with the Daily 100-MA acting as support.
It's perfectly fine to initiate buy orders with a small percentage of your capital using the Dollar Cost Averaging technique at each Moving Average (MA) to avoid missing out in the event we have a legitimate reversal at one of the Moving Averages. We still have a chance for another push up before falling into a bear market the month of September. It depends on how far we go down here from $13,880 as to whether we go to a higher high or lower high before falling into a bear market in September.
Don't forget, we still have a chance for a legitimate reversal bounce off the Daily 21-EMA or Daily 50-MA. I recommend using Dollar Cost Averaging technique on dips in the 12h and 24h TF's using small percentages. It's my opinion you will be glad you did in the long run.
It's perfectly fine to initiate buy orders with a small percentage of your capital using the Dollar Cost Averaging technique at each Moving Average (MA) to avoid missing out in the event we have a legitimate reversal at one of the Moving Averages. We still have a chance for another push up before falling into a bear market the month of September. It depends on how far we go down here from $13,880 as to whether we go to a higher high or lower high before falling into a bear market in September.
Don't forget, we still have a chance for a legitimate reversal bounce off the Daily 21-EMA or Daily 50-MA. I recommend using Dollar Cost Averaging technique on dips in the 12h and 24h TF's using small percentages. It's my opinion you will be glad you did in the long run.
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This is one of the price level dips for using the Dollar Cost Averaging technique with a small amount of your capital to avoid missing out in the event of a potential legitimate reversal to new highs from here.
I just woke up and see $9,950.00 exactly for the low currently. I'll provide another update with charts or by video very soon. I need to fix something to eat.
Stay Awesome!
I just woke up and see $9,950.00 exactly for the low currently. I'll provide another update with charts or by video very soon. I need to fix something to eat.
Stay Awesome!
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BTCUSD 12h TF:
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12h (Left) and 24h (Right):
His first question: "So your opinion on BTCUSD then is sideways rather than down? Any opinion on this bounce from $10,300 into the 0.5 fib retracement of the dump? More upside to flesh out a sideways range?"
My Response: Sideways FOR NOW... The Purple ENERGY in the 4-Day is currently at 85 percent with only one Red Caution Dot. It still has a while yet before getting anywhere near the 50% level before potential consolidation. So, I'm saying more sideways AT WORST with still a chance for going up for now. We will need to see where the Purple ENERGY advances to on the next 4-Day Candle beginning June 30th to see how much more time this upward pressure can continue and the likelihood of another leg up to higher than $14,000.
His Next Question: "The dump wave stayed above your $9,948.98 level. Does that confirm for you this is more of a sideways/time correction than a deep price correction?"
My Response: Yes, this confirms more sideways action for now; as evidenced by the current level of the Purple ENERGY in the 4-Day TF. We will know more on June 30th when a new 4-Day candle begins. Until then, we can anticipate more upward pressure with no major consolidation event. Could a consolidation event begin after June 30th? Sure, but we need to see what the level of the Purple ENERGY is on the new 4-Day Candle beginning on June 30th.