Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

3D thoughts

stronghands

I don't like greasy goose poop!!!

(This coming from the new kid, still FOMOing into every dip like dinner tonight is optional)

How could you be FOMOing into BTC price dips? You are just two months short of your one-year anniversary in these here parts.

In my thinking, the more that you grapple with a several BTC price moves over many months while you are attempting to establish and to follow some kind of BTC accumulation system, then the more that you should have some structure to your buys.. even if you are trying to be strategic in terms of buying on dips.

If the BTC price were to go down to $25k, would you have any dry powder left to buy? How about down to $20k.. yet that would be an extreme that many folks here seem to consider to be quite low currently... but not impossible?

Hi JJG,

I agree with you! And when we look at the 17-Day time frame using Phoenix Ascending and Bad Ass B-Bands indicators, we see we still have quite a bit or work to do with the Red RSI and Blue LSMA in order to get our freak on with another bull run again.

Right now, the Blue LSMA appears it may continue falling even lower than level 30. The issue with that is we need the Blue LSMA to rise above Level 30 to have greater odds of the price action rising up from the B-Band Basis to the area of the white/aqua UPPER B-Bands. We also need the Red RSI to run up to or near Level 50 so that the price action has increased odds of REMAINING somewhere pretty close to the B-Band Basis; which can be seen to the left in history. The Red RSI is currently at Level 29 and has quite a bit of work to do in order for us to get up to Level 50 to increase the odds of the price at least holding around the B-Band Basis.

There's a chance we might fall further in similar fashion to what we saw late November/early December of 2014 (identified with an Aqua Vertical Dashed Time Line at "20-Nov-14"). Meaning, it's possible we might see the Present Day Green RSI turn back down in similar fashion to the Green RSI turning back down in 2014. Possibly the next candle. However, the next 17-Day candle begins approximately 9-Days and 21-hours from now.

This is better understood if "seen" rather than simply reading it. Even better if explained in a video. I cannot post images. I don't know why. It's as if I'm banned from posting images on here now. At least you have a link to the image.

Here's the link: https://www.tradingview.com/x/KWYUfkUT/