It doesn't matter what market you are trading. If you are a retail trader, which 99% of us on tradingview are. You should NEVER try to predict price. Your main priority should be to analyze and study smart money behavior. They are the ones that can actually move price. Not us. The markups I put out are based solely off of liquidity concepts. Because liquidity is really the only way I've been able to consistently ride the coat tails of smart money. I will try to make this short and sweet.
#1 Purple Box - There was a HEAVY sell off that attacked tons of stop losses. It was aggressively initiated in this box. The next time price approached this level it didn't even have a reaction. But we did get a clue.
#2 Orange Gap - Right where that sell off started we have a price imbalance that has appeared. I am looking for this imbalance to get filled, AND for the smart money to mitigate the sell orders the used to BUY people's stop losses.
#3 Rotation - We have a "consolidation" that exploded up after a final retest of $9250. That rotation has still not been retested yet so there may be some limit orders sitting there. It is a level to be mindful of since we saw such heavy activity.
#4 & #5 Rotation and September's High - This is another untested rotation. But this one is and will be VITAL to the rest of the year. This level is very important because September made and lower low and lower high than August did. If this $11.5k level holds, it could very well be the high of October, which means we would have a signal heading into November. I'd like to note that we have two set to complete at $11.5k right now as well. (think about how many crypto people trade with algos, that's even more limit orders.) If price can clear Septembers high and this level would be invalid for me, and it should make a run for Summer '19 Highs.
#6 Summer 2019 High's - If the $11,500 level doesn't hold that I think this would be the next conservative and logical targets that price will be drawn too. I think we could go much higher, but we'll deal with that when the time comes.
#7 & #8 Election "Stop Hunt" - If I was a market maker or institution I would be drooling over the Election. It would be like Christmas to me. You can move the market as much as you want, and the entire world will blame it on "election uncertainty." Because of that imbalance on #2 and the aggressive stop hunt attack from level #1. I think we may see a huge move down. And based off my monthly analysis of BTCUSD I think it will be a move down with the intent to BUY. I think institutions are on crypto. And it will be a great time to buy at a discount. If things go perfectly It looks like we will have a completing at this level as well.
Best case scenario price hits $11,500 it holds and is the high of Oct. Then I will be looking to buy at $8000. If price can then close above $9250 during the month of November we could see a very strong bull run to $30k.
Sorry if there were any typos in this.
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