I need to emphasize that just because we see potential upward pressure the next 16 to 18 hours, this does not mean the price action must go up significantly the next 16 to 20 hours. In fact, the 90 minute time frame shows sign of potential exhaustion WITHIN the next 3 to 6 hours of that 16 to 20 hours of upward pressure remaining from information gathered in the 8 hour time frame. It’s still possible for us to make it to $4,060 to $4,090 price range AFTER we finish going sideways in a TIGHT trading range over the next 3 to 6 hours into the future.
Please bare with me while I work out my TIMING based on what I’m seeing in lower time frames in relation to price action. I’m wanting to PRACTICE this for an idea I want to implement on my future website to potentially go LIVE the first week of May, 2019. I want to not only have different times; such as 1h, 2h, 4h, 6h, 8h, 12h, 24h, 48h, 3-Day and 4-Day; but I also want to implement what PERCENTAGE to anticipate the price action to increase and/or decrease within EACH of those time frames listed. I know, it will be quite involved to do something like that but I think it’s at least worth a try. No? Especially, if people are using bots and they want that information to provide for their bots. However, with the current market conditions offering only VERY TIGHT trading ranges in a movement going sideways for quite a while before each significant move up or down, it can be quite tricky to make determinations based on percentages for each of those time frames listed previously.
BELOW: You see our “Shorts” are increasing and our “Longs” are decreasing. So, I would not be surprised to see one more push up in an effort to try to liquidate some shorts WHILE enticing more long positions to come in; THEN expect a reversal back down in an effort to try to liquidate long positions AFTER they were enticed to come in on the expected move up. We may have to wait 3 to 6 hours before we see that upward move begin.