We have our reversal to upward pressure on or around July 30th as anticipated. However, I'm not expecting a "significant" upward move here. Mainly, due to the huge difference we see with the BitFinex Short and Long contracts. Short contracts currently at 6,600 and Long contracts currently at 22,375. Which see...
The higher time frames (Weekly, 9-Day and 12-Day seem to indicate a reversal to upward pressure is near. However, I'm anticipating that upward pressure to be for only a brief amount of time before continuing with downward pressure to eventually find support on the 20-EMA in the Weekly Time Frame (TF).
Ignore those two scenarios I drew in the publication for two possible scenarios. It's still possible for us to go to a higher high than $13,880 on Bitstamp. But due to the huge difference in the long and short contracts on Bitfinex, one can't help but conclude we're not going to higher highs and the current move up may only be for a brief amount of time.
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We need to test this Red 20-EMA in the Weekly TF to spook away a lot of the margin long contracts on BitFinex and to lull in some margin short contracts. This is why I anticipate this current bout of upward pressure to only be brief and NOT to be a significant move upward.
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Simply providing my Bitcoin History Using Wyckoff Method to show how I anticipate the Orange 20-EMA to act as "Last Point of Support" on this "Back-Up" (Shake-Out).
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Here's the 12h-TF:
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I'll provide a NEW Video publication later this evening. Probably in a couple of hours. Here's the 24h TF with a few text bubbles while you wait.
I finally got the third wall mount adjusted to make up for that 1/16th of an inch offset it had. Then I mounted the third 55 inch 4K TV to use as monitors.
Hi Metza, Apologies for the delay responding. I've been super busy with my office remodel and website build.
I've run a new 110 Volt/20 Amp circuit through three (3) walls. Also took out a portion of the ceiling underneath the stairwell between the office and the garage in order to drill through joists to run that new circuit from the garage into the office. I will also run one more 110 Volt/20 Amp circuit the same route into the office and a new coax (cable) into the office to have my internet modem and router located in the office instead of the mining room. The mining room is slowly being dismantled to make it back into a recreation/play room for my son.
I have one more TV to mount. I wish I had opened the box to check the length of the power cords for the TV's a long time ago. I had to order three new LONGER power cords from Amazon. The existing power cords that came with the TV's are only 4 feet long. Those power cords are supposed to arrive Saturday.
I'm also going to make a sliding drawer shelf for keyboard(s), mouse pad and mouse to go between the two base cabinets and attached underneath the counter top. It will be roughly the same width as the space between the two base cabinets. It will be painted white as well. The width between the two base cabinets is 57.5 inches. So, the sliding drawer shelf for the keyboard, etc... will be quite wide compared to most.
The wall mount on the far right is 1/16th of an inch higher than the other two wall mounts. I need to fix that in order for the TV's to be perfectly aligned at the same height.
This is the mining room I'm dismantling in order to get back my recreation/play room for my son. I've been selling all the hardware on eBay since August, 2018. Approximately two thirds of the hardware is sold with the other third remaining to be sold. I had over 240 graphics cards in that mining room since the summer of 2016.