Institutionallevels
BTCUSD: Potentially the start of the next bull run is here.My alerts have been going off all day today, I knew it was going to be a good day. A big move is imminent, so here is what to watch out for so you don't miss the next bull run:
So we are at the 5800 demand zone. Now the question is, is this a genuine uptrend or downtrend? Where is smart institutional money going to be buying?
Primary Signs for the next bull run:
- low volume sideways movement (days to weeks)
-price shoots right back up to 5800-6000 trading ranges. (currently at 5832, lets see if the daily closes on these ranges.)
Primary Signs continuing downtrend (after the daily close):
- price slowly going down, below the daily close.
- price quickly going down, below the daily close.
KEEP YOUR EYES OPEN for these signs.
BE PATIENT, DO NOT FOMO. Price is not going to jump up anytime soon.
Secondary signs:
Watch for signs of REVERSAL on the higher timeframes (1hr, 4hr, daily) for RSI divergence.
TDsequential might be useful here for finding signs of reversal.
If you make money on this big move, and I helped you out. Consider donating BTC:
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Elliot Wave Armageddon Building up on Elliott Wave Techmology study, this is the candle pattern from MtGox collapse pointing new lows.
Although a W.4 is expected to normally retrace 0.5 and move sideways, W.2 retraced for more than one year and the start of W.1 isn't determinable to secure that 0.786 retrace. In this case by following Elliott rules, W.4 should be a sharp wave, retracing 0.618+ respecting as a rule, in the final analysis, only W.1-top, MtGoxTimeHigh.
Also institutional traders looking to join the market for the first time would not loose the opportunity to shakeout the not-so-new money out of market. It is imperative for a institutional campaign to get price levels on September Trade Zone, prior to global media publicity, so they will Accumulate much much more.
Trying to predict the smart money's next move UP - EURGBPWe can already see that the pair has already completed 2 distribution phases and we are now anticipating the 3rd and final phase. After a strong move up we can expect some consolidation where bulls will be seeking to lock in some profits driving the price somewhat lower (RSI oversold on 4H + 1H + 15M) during the Asian session. We can then expect smart money's techniques to come into play as always where they will attempt to stop out any sellers selling at a potential break downwards of the previous broken structure, before buying back up and reach a potential 100-115 pip target.
My 20 cents, I'm not a prophet just trying to look beyond just technical analysis. After all it's the smart money, the big institutions, that move and manipulate the markets in whichever way they want.