$BTC Broke Structure-Weekly Bearish Order Block Rejection *SMT*
*SMT = Smart Money Theory = everything you think that is not retail related to trading. First, SMT does not believe that triangles, wedges , trendlines , channels, harmonics, etc. has any effect on how price reacts. The second is to recognize that the price is not random, it is set by an algorithm controlled by those that control the asset. The Third thing to remember is price will move toward Liquidity and Balance. That's the basics. The rest is very unique in the vocabulary you need to have and the concepts that wrap around these ideas.
Bitcoin has made a mad dash this week crawling on top of a Daily Fair Value Gap. But if you look at the weekly chart, it has just touched the Weekly Bearish Order Block which should reject it eventually. However, with the new u[rising this past week Bitcoin did break structure and I have marked that in the main chart. There is also a Breaker just below it. So this could take a few days to unravel but I think It will start to fall getting a lot of retail traders to chase it as a Short. When price stops just at the Bullish Breaker Area of 38767.57 on the coin base Chart.
Here is the weekly where you can see the smart money Bearish order block weekly rejection.
So Again, watch for that rejection and expect retail traders to bit short on it and the chart should turn around at the breaker area. That low point would probably happen by Tuesday/Wednesday this week as it starts to create a new weekly profile. Let me know what you think or if you think it will drop and not come back up?
Happy Trading! = Bodies X Wix
BTCUSDT
BTCUSD
BTCUSD
BTCUSD
BTCUSD
BTCUSD
BTCUSD
TRADESTATION:BTCUSD
BTCUSDT
BTCUSDT
BTCUSDT
BTCUSDT
BTCUSDT
BTCUSD
Bitcoin has made a mad dash this week crawling on top of a Daily Fair Value Gap. But if you look at the weekly chart, it has just touched the Weekly Bearish Order Block which should reject it eventually. However, with the new u[rising this past week Bitcoin did break structure and I have marked that in the main chart. There is also a Breaker just below it. So this could take a few days to unravel but I think It will start to fall getting a lot of retail traders to chase it as a Short. When price stops just at the Bullish Breaker Area of 38767.57 on the coin base Chart.
Here is the weekly where you can see the smart money Bearish order block weekly rejection.
So Again, watch for that rejection and expect retail traders to bit short on it and the chart should turn around at the breaker area. That low point would probably happen by Tuesday/Wednesday this week as it starts to create a new weekly profile. Let me know what you think or if you think it will drop and not come back up?
Happy Trading! = Bodies X Wix
BTCUSDTBTCUSDBTCUSDBTCUSDBTCUSDBTCUSDBTCUSDTRADESTATION:BTCUSD
BTCUSDTBTCUSDTBTCUSDTBTCUSDTBTCUSDTBTCUSD
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
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