BTCUSD Accumulation Phase - ICT Analysis
BTC has been on uptrend since start of this year currently sitting at 37000 which makes us Bullish across all the timeframes, following analysis is done by the ICT concepts starting from HTF till LTF.
1. Currently BTC is sitting at 37000 with an eye on 42000 target as a 50% Fib Retracement Level at the end of this year looking at monthly chart which is our Target 1.
2. Next Buy Side External Range Liquidity is at 48414 which is also the 62% Fib Retracement Level which is our Target 2 that can also be filled till the end of current year.
3. Since we are Bullish we will be looking for Buy Entries using Internal Range Liquidity, Looking at Monthly Chart we have OB at 29400 level and IMBALANCE at 32000-34000 where we can expect price to trade again.
4. Weekly chart refines the monthly OB from 29400 to 27960 Level while IMBALANCE remains the same.
5. Currently our trading range is 32000 - 38000 unless the price breaks these levels.
6. Looking at daily chart we have IMBALANCE at 30000 - 33400 which is most likely before the price starts moving UP.
BTC can remain in Accumulation Phase between 38000 - 36000 for the rest of the month and we can expect the price drop till 30000 so we can look for Sells for shorter TF once the price hits 30000 we will look for Buys.
1. Currently BTC is sitting at 37000 with an eye on 42000 target as a 50% Fib Retracement Level at the end of this year looking at monthly chart which is our Target 1.
2. Next Buy Side External Range Liquidity is at 48414 which is also the 62% Fib Retracement Level which is our Target 2 that can also be filled till the end of current year.
3. Since we are Bullish we will be looking for Buy Entries using Internal Range Liquidity, Looking at Monthly Chart we have OB at 29400 level and IMBALANCE at 32000-34000 where we can expect price to trade again.
4. Weekly chart refines the monthly OB from 29400 to 27960 Level while IMBALANCE remains the same.
5. Currently our trading range is 32000 - 38000 unless the price breaks these levels.
6. Looking at daily chart we have IMBALANCE at 30000 - 33400 which is most likely before the price starts moving UP.
BTC can remain in Accumulation Phase between 38000 - 36000 for the rest of the month and we can expect the price drop till 30000 so we can look for Sells for shorter TF once the price hits 30000 we will look for Buys.
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