BTCUSD remains in a bullish leg with a projected target at 107,848, aligning with point B of a potential ABCD harmonic structure. Should price reach this level, we will closely monitor for a bearish reversal setup.
From a Smart Money Concepts (SMC) standpoint, we are identifying two key zones of interest for potential short entries:
A newly formed supply zone (order block) at 108,660,
The 107,848 level, corresponding with the anticipated completion of the B leg.
A valid short scenario will require confirmation through SMC triggers — such as a liquidity grab, followed by a break of structure (BOS) or change of character (CHOCH), ideally accompanied by displacement. Upon such confirmation, we will look to initiate short positions with appropriate risk management.
From a Smart Money Concepts (SMC) standpoint, we are identifying two key zones of interest for potential short entries:
A newly formed supply zone (order block) at 108,660,
The 107,848 level, corresponding with the anticipated completion of the B leg.
A valid short scenario will require confirmation through SMC triggers — such as a liquidity grab, followed by a break of structure (BOS) or change of character (CHOCH), ideally accompanied by displacement. Upon such confirmation, we will look to initiate short positions with appropriate risk management.
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Looking for powerful AI trading signals? Visit ProSignal.ai and take your trading to the next level! or join our telegram channel at t.me/prosignalai
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.