‎ETHUSD Coinbase - I Marked 3 Breakout Price Points for a Reason‎ لـ ‎COINBASE:ETHUSD‎ بواسطة ‎WyckoffMode‎

It is quite common to have a Double Throwback after a Triple Breakout. I marked the 3 breakout points on the chart and drew a magenta color line to show a Double Throwback to $128. It's possible we may go to as low as $116 on my 0.618 FIB RT on Coinbase before having a Mark Up.

Coinbase seems to show much more support at $128 than Poloniex. Hence the price difference and saying we may only go to $128 on Coinbase. I've seen the price difference as much as $35 between Polo and Coinbase at times.

Still... Don't be surprised if we go as low as $116 on Coinbase though.

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I was able to get in at $119 on Coinbase. It did go down to my $116 FIB RT for 0.618. Which see:

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Note how the red, green and black LSMA lines are staying above 80% for long periods of time. I hate it when it does that. This is when it can be difficult at times to know when to short unless you're paying attention to higher TF's. Note how the 30m and 60M TF's are high above 80% like i mentioned:

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The 240m (4h) TF still indicates more upside. So, I'm sticking with it.

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No, one thing I looked over. The blue ghost is close to being spent. Meaning "exhausted" in regards to upward momentum. We can expect a little more downward pressure here before more upside continues. We need to go down to refuel.

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It won't be much downward in my opinion. It appears we are still in a BULL trend. So, I'm still holding. Hell, I got in at $119.00. So, I have nothing to worry about in my opinion. Yes, it's nice to get shorts in at times while moving up in a bull trend. Can't get them all though.

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5m and 10m TF's coming close to bottoming out now.

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I see now I have to get my mental sharpness back in regards to paying attention to ALL TF"s like I did several weeks ago before I went on my business trip. I'm a bit rusty after being away for approximately one month.

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First pressure dot just showed up on the 10m TF:

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yep, it's getting time now. I would buy. But I'm not responsible

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This 6h (360m) TF looks promising in regards to where we're going:

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These 1 Day (Daily), 2 Day, 3 Day, 4 Day and Weekly TF's are still scary as hell though. Meaning we may still be in a bear trend over all.
These higher TF"s still have me very concerned we could still be in a bear trend.

1 Day TF:

2 Day TF:

3 Day TF:

4 Day TF:

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We'll have more info over the next 24 hours. So, one must stay on top of this and have their alarms set if they plan on sleeping. Make sure volume is up full blast.

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Hell, I have a mattress on the floor in my office at the moment. It's been on the floor here since I've been back from being out of town training telephone technicians.

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If I haven't said so already, let me say it now.

I want to encourage everyone who is using Godmode with the inputs and LSMA with inputs I have instructed to pull up a chart with it in the 1m or 2m TF and watch the price action LIVE. This way you can get a better idea of how the lines work as I have instructed in my publication on Basics for HOW to use Godmode. Pay attention to when the lines are at or above 80% AND when the lines are at or below 20%. This way you'll have a better understanding of how they will work in the higher TF's. Only realize the higher TF's will take longer to play out.

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This is the 2h TF...

I would not be surprised at all if this occurs. I hope it doesn't but I'm okay with it if it does. This is why I'm saying to "Stay on top of this and set your alarms if you don't want to miss a "possible" short.

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I'm NOT saying it's going to play out like I have depicted in the previous chart. I'm just encouraging everyone to stay alert.

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I'm about to get me some shut eye. I'll catch y'all later.

Cheers!

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Looks like we have a confirmed breakout on this wedge I have had drawn in the 20m TF on my chart...

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I believe we're looking at big potential resistance again at the $185 price point. Time will tell if we bust through it to the upside.

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I ended up shorting at $174.21 on Coinbase.

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The 60m and 120m TF's to the far right also look like more downside potential in the works:

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I was able to get back in at $169.21
Added a little over 5 more ETH to my collection.

Where we are now is very important in regards to whether we go Bull or Bear. This will be decided over the next 24 hours.

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I thought it odd I sold at $174.21 (ending in .21) and bought back in at $169.21 (ending in .21)

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I sold again in the $171's cause I feel it's going down more based off the 480m TF in the bottom right corner:

This is my opinion.

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That wedge in the 20m TF keeps getting tighter. It will be interesting to see what occurs here.

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Got back in at $169.50.

I'm chilling for a bit to think through this one. We're definitely at a tipping point. Trying to determine if this baby is going to go up or down in regards to a "significant move.

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This 480m and 720m TF is still indicating potential downside coming. Not for certain on this though. It could easily turn up. We'll know more in a while.

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Look at the magenta colored circles I placed inside Godmode on the 720m TF in bottom right corner. Then look at the price action above the circles and you will understand WHY I'm in a catch 22 at the moment regards as to selling or holding.

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One "positive" thing I'm seeing is the fact that the 20m TF with the two blue lined arrows drawing a wedge that keeps getting tighter has the black LSMA getting closer to 20%. Meaning, if it gets 20% and lower, that usually tempts me to hold longer or get ready to buy soon if I haven't made entry yet.

What I don't like is how high the Black LSMA still is on the 90m TF and 720m (12h) TF. Those two TF's kind of concern me a bit. Otherwise, most other TF's are SLOWLY looking better as long as the price action stays where it is to allow TIME for the black LSMA's to come down further below 20% and turn upwards.

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I could be wrong on this but I have a theory...

I believe they DON'T want to allow it to go too low to allow those who lost big to get back in fairly cheap to make up losses.

I believe they are also making those who bought in near the top around $180 sweat a while to "scare" them into selling before continuing upside.

Again, that's simply a "theory" of mine. I could be wrong. Time will tell...

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We may go to between $175 and $177 here.

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Reminder: THIS IS COINBASE PUBLICATION. NOT Poloniex.

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If we stay within that wedge on the 20m TF, it means we go up only to $172.77

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or there about. I should have said $173.00 cause that will put us right at the border of that 20m TF wedge.

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I know this is an ETH thread. However, I only wanted to point out that ZECUSDT Polo also appears to be caught up in a wedge. I would be willing to bet we would see most every other alt coin in the same predicament.

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Looking at the 10m and 20m TF, it looks like we may go down a little soon. How much? Who knows...

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I'm not going to freak out if it goes up here. That's for sure.

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I'm paying attention to that 30m TF a lot more at the moment for now.

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Red and black crossing on the 20m TF:
However, that doesn't necessarily mean we're coming back down for a "long" time. Other higher TF's seem to indicate we could continue up further even though we may have a few dips along the way. This is my opinion.

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697.00 ETH sell wall at $180.00

We'll see if this pump has some muscle behind it soon enough.

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New 30m candle in less than 3 minutes

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shorted at $178.94 a moment ago.

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If I end up getting screwed, I'll simply find another trade with another coin. That simple...

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quite possible we see more down in less than 10 minutes when the 30m candle expires and starts a new one. Probably go down on the next 30 minute candle. That's my opinion. We'll see...

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That's also the start of a new 4h candle

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I bought back in at $175.80

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$175.79 and $175.80

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DOn't do what I'm doing if you don't feel comfortable. I'm trying something...

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I'm allowing myself to still be in the game in case this is a "bull" trend. Meaning, it's possible this was a little dip on the way up. Just to allow for "some" consolidation or a brief pull back. A "possible" shake out of sorts. I'm simply checking. I'm willing to lose a little if I must.

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The blue ghost line was WAAAAAAY down low on the 10m, 20m and 30m. I knew it was time for a bounce up. I just wasn't sure how much. Time will tell.

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I was noticing some action on the 30m TF from history . I was curious if we might do the same thing. So, I wanted to keep myself in the game, so to speak, just in case it did that.

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I gained almost 2 ETH on that previous move. Let's see if I can gain some more.

I'm telling what I'm doing So, y'all can learn from my accomplishments and/or failures.

The way I see it, there is no reward without risk. I was gambling that we were in a bull trend "potentially" and did not want to miss out if that's the case.

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Sold at $177.83, .82 and .81

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Let's see what the 10m and 30m TF brings us with the red and blacks crossing one another while the green was heading up.

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It got volatile as hell all of a sudden when I posted that chart with the red and black crossing one another. The only good thing it had going for it was the green coming up.

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The 60m TF is not looking good. That's not to say the green might come back up in the 60m TF. It's possible Right now I'm seeing more sideways on the menu for a while.

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Note how the 120m and 240m TF's have the green line above 80% at the moment as well.

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That's a sign of "possibility" of exhaustion for this move up. We would have to have a hell of a bull run up at the moment in order for those two TF's (120m and 240m) to become promising.

The 20m, 30m and 60m TF's still look scary as hell.

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However, note how it still moves sideways instead of dropping immediately despite how the 20m, 30m and 60m TF's look. This means one of two things. We have lots of support "OR" we have bear whales waiting for the buy order book to fill to their liking before dumping into it.

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Based on all of those 100.0, 120.0, 125.0 and over 200.0 sell orders from $178.26 and higher; has me thinking bears are trying to "force" bulls to buy up if they intend on taking this higher.

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we have 2,800 ETH in sell orders from $177.78 to $180.00

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I started a group chat. If anyone wants to be added, send me a PM.

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If you're wondering why the updates and publications have slowed down for a bit, it's because I started a private forum.

This does not mean I will stop posting publications. I've just been involved getting people "started" with Godmode. It's my hope to get enough of us going with Godmode in the private forum to have new comers who come along get instruction from those inside when I'm not around for whatever reason.

I'll try to get more publications coming back soon. As for now, I "must" take a nap and re-fuel, so to speak.

Cheers.

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I don't think it will be long before upside potential. We're almost at the end of the wedge of excitement and no more boredom. ; )