BTCUSD: 30K to 35K on the Table it Looks Like

Hi Everyone! As pointed out in a previous publication on the Macro Group, Long Term Group and Mid Term Group of time frames, we were leaning more toward continued downward pressure for a while. Which means, sideways at best or downward at worst. Well, it's looking more and more like downward at worst with a "Sign of Weakness" event in Phase E. Be mindful a "Sign of Weakness" event in Phase E of Distribution can also "double" as a "Selling Climax" event of Accumulation. At which point, we would expect an "Automatic Rally" up to or near "Preliminary Support." This was discussed in the video.

Also, bare in mind we could potentially go lower than 30K in the future. We don't want to rule that out. First things first... Let's complete this "Sign of Weakness" before we discuss crossing another potential bridge in the future.

Hope this was helpful.

Happy Trading and Stay Awesome!

David

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3-Day time frame:

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In case you were not aware, the 200-MA (Moving Average) in the 3-Day time frame is currently at $35,185. Depends on the exchange...

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I'm heading out to get one more APC/UPS unit from Best Buy and also get one more gift for my son's birthday. We will be celebrating his 11th birthday tomorrow with my parents. I'm going to provide more updates on current price action when I get back from Best Buy.