BITCOIN Is Bullish! Heading To the Highs!
After breaking the ATH (All Time High) in March, BTC has formed the a huge Bear Flag, incrementally retracing to a Weekly bullish FVG (Fair Value Gap). The +FVG has proved to be resilient, holding price from going lower... and now price is rallying from said +FVG.
Friday, price formed another +FVG on the Daily TF. This is the bullish indicator I look for to get a sense of the order flow. Should price pullback into the Daily +FVG, it will use it to move higher toward the ATH.
ICT has taught that price will move towards the "smooth edges" when seeking liquidity. Look at the path to the ATH. It is a series of highs that at relatively close together. Compare that to the lows. Price had a hugh heat seeking liquidation wick to sweep the sell side liquidity before moving higher.
The liquidity pools are above now.
Price moves from IRL->ERL->IRL. This is how a trend works. HH->HL->HH.
Price is now moving from Internal Liquidity (FVGs) to External Liquidity (HIghs/Lows). This is how the market moves. It's all about the liquidity.
Friday, price formed another +FVG on the Daily TF. This is the bullish indicator I look for to get a sense of the order flow. Should price pullback into the Daily +FVG, it will use it to move higher toward the ATH.
ICT has taught that price will move towards the "smooth edges" when seeking liquidity. Look at the path to the ATH. It is a series of highs that at relatively close together. Compare that to the lows. Price had a hugh heat seeking liquidation wick to sweep the sell side liquidity before moving higher.
The liquidity pools are above now.
Price moves from IRL->ERL->IRL. This is how a trend works. HH->HL->HH.
Price is now moving from Internal Liquidity (FVGs) to External Liquidity (HIghs/Lows). This is how the market moves. It's all about the liquidity.
Note
I should have pointed out this important bullish BOS here. Price expanded and closed beyond the swing high. A bullish indication of order flow in its own right. The fact that the high cuts through the +FVG strengthens my confidence in the +FVG, as it is more likely to hold as support for price than not.
Note
Price is moving as expected. Now in contact with our POI.
As mentioned in the video, I am looking for price to use the +FVG to move higher.
Patiently, I will wait for price to give a signature indicating its intention.
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