So we are at the 5800 . 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 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.
Watch for signs of REVERSAL on the higher timeframes (1hr, 4hr, daily) for 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:
Here is the sentimental analysis for cryptos:
Generally we want them to go back to around 13-15 before we buy back in. Whenever it reached those points we had a strong uptrend (institutions buy when the public is most afraid, AKA FUD). Right now it is at 52, which is a very bearish sign in terms of sentimental analysis. Keep that in mind if you plan to go LONG.
In the case of a breakout out of a consolidation period, it might not go all the way down back to 15.
Sentimental analysis dropped to 49 from 56, we are half way there. I would look at the monthly and weekly supply demand areas to find buying oppertunities. Looking at the weekly.
On the monthly, that is 4781 with a stoploss at 2934.
On the weekly that is 4686 with a stoploss around 2930