ICT Perspective (Smart Money Concepts)
1. Liquidity Zones & Smart Money Manipulation:
The "stopped" level (~$0.5960) could indicate a liquidity grab (Stop Hunt), where smart money clears weak hands before a potential rally.
Price might have swept sell-side liquidity before shifting structure.
2. Premium & Discount Pricing:
The current price (~$0.66) is near the discount zone of the overall bullish range.
Smart money could be accumulating positions before pushing price toward the glitch target (~$2.4685).
3. Order Blocks & Imbalances:
There is a fair value gap (FVG) in the price action near $2.46.
If the market seeks to rebalance inefficiencies, price could rally toward this level.
4. Market Structure Shift (MSS):
A break in structure (BOS) above recent highs would confirm bullish continuation.
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Elliott Wave Perspective
1. Wave Count Possibility:
Price appears to be starting a new impulse wave (Wave 1) after a major correction.
The previous decline likely formed an ABC correction.
2. Projected Wave Structure:
Wave 1: The initial bullish push from lows.
Wave 2: A corrective retracement (possibly the recent "stopped" area).
Wave 3: The strongest wave, targeting the glitch level (~$2.46).
Wave 4: A minor pullback.
Wave 5: Potential push toward $3.09+.
3. Confluence with ICT:
If smart money is accumulating, Wave 3 could align with an explosive bullish move.
The glitch target at $2.46 could be the Wave 3 peak before correction.
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Conclusion
The $0.5960 - $0.66 zone could be a smart money accumulation area.
A bullish move toward $2.46 - $3.09 aligns with Wave 3 completion.
Watch for liquidity grabs, order blocks, and BOS confirmations for entry validation.
1. Liquidity Zones & Smart Money Manipulation:
The "stopped" level (~$0.5960) could indicate a liquidity grab (Stop Hunt), where smart money clears weak hands before a potential rally.
Price might have swept sell-side liquidity before shifting structure.
2. Premium & Discount Pricing:
The current price (~$0.66) is near the discount zone of the overall bullish range.
Smart money could be accumulating positions before pushing price toward the glitch target (~$2.4685).
3. Order Blocks & Imbalances:
There is a fair value gap (FVG) in the price action near $2.46.
If the market seeks to rebalance inefficiencies, price could rally toward this level.
4. Market Structure Shift (MSS):
A break in structure (BOS) above recent highs would confirm bullish continuation.
---
Elliott Wave Perspective
1. Wave Count Possibility:
Price appears to be starting a new impulse wave (Wave 1) after a major correction.
The previous decline likely formed an ABC correction.
2. Projected Wave Structure:
Wave 1: The initial bullish push from lows.
Wave 2: A corrective retracement (possibly the recent "stopped" area).
Wave 3: The strongest wave, targeting the glitch level (~$2.46).
Wave 4: A minor pullback.
Wave 5: Potential push toward $3.09+.
3. Confluence with ICT:
If smart money is accumulating, Wave 3 could align with an explosive bullish move.
The glitch target at $2.46 could be the Wave 3 peak before correction.
---
Conclusion
The $0.5960 - $0.66 zone could be a smart money accumulation area.
A bullish move toward $2.46 - $3.09 aligns with Wave 3 completion.
Watch for liquidity grabs, order blocks, and BOS confirmations for entry validation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.