BitcoinUpdated Smart Money BTC
When trading bitcoin we need to consider two things first:
1. What is narrative on high time frames ( Daily/ Weekly)
2. Where is liquidity? (Stop Losses - Retail Trader Order Flow)
There was a large expansion leading into FOMC, followed by 20 hours of retail distribution; using Wyckoff trading strategies we can expect a sharp retracement returning to the pool liquidity below 46800. Then we can expect a push higher to clear imbalances of inefficient price action from the sell off. Trade what you see ultimately.
1. What is narrative on high time frames ( Daily/ Weekly)
2. Where is liquidity? (Stop Losses - Retail Trader Order Flow)
There was a large expansion leading into FOMC, followed by 20 hours of retail distribution; using Wyckoff trading strategies we can expect a sharp retracement returning to the pool liquidity below 46800. Then we can expect a push higher to clear imbalances of inefficient price action from the sell off. Trade what you see ultimately.
Note
After making executions in the institutional demand zone at $45800 we have seen a liquidity sweep to the downside and now we are experience a liquidity sweep to the upside peak price $51400.
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.