SPY $408 Price Target Before Bounce?Still refining the ICT strategies I'm learning to incorporate into trading but as of right now, SPY on the higher time frames is in an uptrend but on the short term, internal liquidity is trending down, imo. With equal lows at HKEX:410 , it seems way likely that we take that liquidity to get us to HKEX:408 , where, if we can take liquidity can get us from HKEX:408 , back to the highs at $415. Hoping that today I can short the supply zone around HKEX:413 into HKEX:408 or take the break of demand above $410.50 into HKEX:408 and then go long there if the entry criteria is met.
Liquidity
GJ BullishLooking to take some of the downside liquidity before coming to a nice zone where we saw price consolidate before tapping in and creating this big bullish move. Thinking we will see this repeat. Plans to enter on a change of character confirmation out of this zone, however possibilities of a downside entry on inverse confirmation may be possible.
I think you need to avoid buying Bitcoin right now. Here's why?The current price action was discussed in earlier articles. Those who follow my analysis and ideas know it. They know that Bitcoin can show an increase upto $32k in order to trap buyers.
Bitcoin needs some sort of fuel, and by fuel I mean liquidity, to move up with heavy buying pressure. Currently the effort of buyers cannot be seen in the 'break out' candles that are printing at this point of time. So there's an anomaly which means something is wrong. Once retail investors will start buying Bitcoin at this level, the Bitcoin price will rise up a bit, show those investors a cookie, and boom. It'll hunt all there stop losses before actually moving up.
So my point of interest where I believe BitCoin will bounce back from after a retracement from HKEX:30 -$32k levels would be from $24k - $27k. I'll be executing my buy side position once Bitcoin enters this price zone. Even if shows a further dump from the said price zone, I know that sharks and whales will buy Bitcoin heavily and would not let the price go down below $22k. So wait some time and do not panic buy right now.
That's what I'll do. Crypto markets are volatile and trade at your own risk
BITCOIN ($BTC) - Re-accumulation or Distribution? If this is in fact a re-accumulation range, we do not want the lows of current range to be broken.
Green liquidity zone would be a perfectly healthy correction - but it would lead me towards this current PA not being a form of re-accumulation, which does make a difference regarding where we are in the market cycle.
Vatsik