Hello Traders,
Taking a fresh look at the Bitcoin (BTCUSD) 4H chart. We recently saw a strong rejection from the top, and the price is currently pushing down, breaking minor structural levels.
Based on SMC (Smart Money Concepts), I have mapped out the potential price action using the blue paths. Here is what I am watching:
📊 My Trade Plan:
Current Move (Downwards): The price is currently heading down. I am waiting for it to reach the major Demand Zone resting around the $75,000 - $76,500 area (lower red box). I am not looking to buy here blindly.
The Pullback (Upwards): After tapping the demand zone and finding support, I expect a pullback towards the upside to mitigate the fresh Supply Zones created during this recent drop (around the $83,000 - $84,500 area).
The Execution (Short Setup): If the price rallies back up to those unmitigated supply levels (upper red boxes), I will be looking for Lower Timeframe (LTF) confirmations like a CHoCH. A rejection there would be a prime opportunity to look for high-probability short entries.
💡 Key Takeaway: Let the market do its thing right now. Patience is key. I'm waiting for the price to develop the structure before committing to a trade.
⚠️ Disclaimer: This analysis is for educational purposes only. Always use proper Risk Management.
What are your thoughts on BTC right now? Are we going straight down or will we see that pullback first? Let me know in the comments and hit the LIKE button!
Taking a fresh look at the Bitcoin (BTCUSD) 4H chart. We recently saw a strong rejection from the top, and the price is currently pushing down, breaking minor structural levels.
Based on SMC (Smart Money Concepts), I have mapped out the potential price action using the blue paths. Here is what I am watching:
📊 My Trade Plan:
Current Move (Downwards): The price is currently heading down. I am waiting for it to reach the major Demand Zone resting around the $75,000 - $76,500 area (lower red box). I am not looking to buy here blindly.
The Pullback (Upwards): After tapping the demand zone and finding support, I expect a pullback towards the upside to mitigate the fresh Supply Zones created during this recent drop (around the $83,000 - $84,500 area).
The Execution (Short Setup): If the price rallies back up to those unmitigated supply levels (upper red boxes), I will be looking for Lower Timeframe (LTF) confirmations like a CHoCH. A rejection there would be a prime opportunity to look for high-probability short entries.
💡 Key Takeaway: Let the market do its thing right now. Patience is key. I'm waiting for the price to develop the structure before committing to a trade.
⚠️ Disclaimer: This analysis is for educational purposes only. Always use proper Risk Management.
What are your thoughts on BTC right now? Are we going straight down or will we see that pullback first? Let me know in the comments and hit the LIKE button!
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。