Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
BTCUSD: Potential $43100 to $44650 Next 2-Day Candle Public Idea: https://www.tradingview.com/chart/BTCUSD/wszOayI1-BTCUSD-Potential-43100-to-44650-Next-2-Day-Candle-Public-Idea/ See more details with other time frames in the description of the publication link above regarding another potential shakeout after this period of upward pressure we are experiencing currently.
So many colors, lines and so much action seems to be "happening" within the chart that it causes me to get feelings of dizzenings.. In other words, I could well faint if I do not take precautions. #justsaying. #gottahaveshades
LOL...
NOTE: The colors within Phoenix Ascending indicator [On the bottom of the chart] are the same color "coordination" as the Bad Ass B-Bands on the chart over the candles (price action).
Why?
If the Red RSI within Phoenix Ascending (bottom indicator) are about to go above Level 30 (white) and the Blue LSMA is about to go above Level 20 (white/aqua), this means the price action within the Bad Ass B-Bands has increased odds of running up from the White Lower B-Band to the yellow dotted B-Band Basis.
If the Red RSI is above Level 50 and the Blue LSMA is going above Level 30 within Phoenix Ascending (bottom indicator), this means the price action within the Bad Ass B-Bands has increased odds of continuing running up from the yellow dotted B-Band Basis up to the White/Aqua UPPER B-Bands.
If the Red RSI is below Level 70 and the Blue LSMA is below Level 80, the price action has increased odds of continuing down to the yellow dotted B-Band Basis.
If the Red RSI is below Level 50 and the Blue LSMA is below Level 70, the price action has increased odds of continuing down from the B-Band Basis to the white/Aqua LOWER B-Bands.
My Bad Ass B-Bands also have a "percentage spread" displayed between the white upper and white lower b-bands; a "percentage spread" displayed between the white upper and aqua upper B-ands; a percentage spread between the white lower and aqua lower b-bands; a percentage spread between the aqua upper and orange upper b-bands and a percentage spread between the aqua lower and orange lower b-bands.
Why?
1. To assist in quickly getting a visual of the potential "reward" in the "percentage" move with increased odds of taking place.
2. To assist with determining where to place my stop loss (usually 2% of my short or long position).
3. The right price column also displays the "price" of each b-band; both upper and lower b-bands to help determine the price range for entry and/or exit of a position.
The Red RSI and Blue LSMA "both" crossing ABOVE level 50 increases odds for expansion of the b-bands and increases odds of price action going up "with" expansion of the b-bands.
The Red RSI and Blue LSMA "both" crossing BELOW level 50 increases odds for expansion of the b-bands and increases odds of price action going down "with" expansion of the b-bands.
There are several rules and requirements for those rules. If one "understands" those rules, they would not get "dizzy." #justsaying #gottahaveknowlege
