elevatedinvestor

MUST READ! -Buy @ $8k- Bitcoin Smart Money Levels 2020 (repost)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I violated tradingview posting rules on my last post cause I plugged youtube, this is a repost.

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 Bullish 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 Bearish Rotation and September's High - This is another untested rotation. But this one is bearish 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 bearish signal heading into November. I'd like to note that we have two bearish harmonic patterns 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 bullish 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 bullish butterfly 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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Comments

Who wouldnt want to buy at 8k :P It's for that reason I think we never get there this year.
+3 Reply
pennywise_the_sage RealisticBadger
@RealisticBadger, or any other year, ever, for that matter.
+1 Reply
elevatedinvestor pennywise_the_sage
@pennywise_the_sage, Thanks for your feedback
Reply
Can’t agree more. Market maker buys at 10k suppose and makes everyone believe that we will no more go below 10k. Who can say that they are not selling now just to buy at a discounted price later?
+1 Reply
@Gandalf1, Yes exactly. That's what I'm thinking.
Reply
Awesome Bitcoin analysis, we've also considered a bullish view now! Thanks for sharing! 👍
+1 Reply
I don't agree on the fact that bitcoin would drop below 10k for the bullish scenario. if it does drop below 10k we may wait around 6 months to see it get above it again and sustain it. plot the 20 weeks moving average (or 140 days moving average) ... every BTC bull market started with holding the 20 weeks MA and whenever we go below it we have a hard time coming back above and staying above. if we are going to see a run to 20k and beyond BTC should hold the 20 weeks moving average.
+1 Reply
@merabtene thanks I appreciate your feedback
Reply
How do you spot price imbalance?
+1 Reply
@anypanda it’s kind of hard to explain by typing. But you want to a very strong candle move. And the candle before it’s wick, doesn’t touch the candle after.
+1 Reply
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