BTC is now at the Extreme Demand Zone on the M15 timeframe and is forming an ICT Drive Pattern. We are currently waiting for a bullish CHoCH (Change of Character) or MSS (Market Structure Shift) to confirm a bullish trend. The decline from 111,968.0 to 102,992.0 represents a pullback following the Daily Break of Structure (BOS), where the market is also hunting the final long positions, contributing to a correction. We are waiting for confirmation before opening a long position. On the other hand, when the price created a bearish CHoCH/MSS at 110,218.4 and then pulls back to that level again, I should open a short position.
https://www.tradingview.com/chart/BTCUSDT.P/EX0B2Gqz-BTC-Analysis/
https://www.tradingview.com/chart/BTCUSDT.P/EX0B2Gqz-BTC-Analysis/
Note
Bullish MSS/CHoCH
This trading plan combines mechanical strategies with smart money concepts to help you make informed decisions. For more information, please follow me linktr.ee/CipherSMC
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.
This trading plan combines mechanical strategies with smart money concepts to help you make informed decisions. For more information, please follow me linktr.ee/CipherSMC
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.