Can ICT it be applied to Bitcoin?
Where could price be reaching, what would be the conclusion?
This analysis is NOT intended for trading, nor is it what I believe will happen. It is simply what I would say and do if this were a typical FX asset I was trading and analysing with ICT Theory.
A zoomed out look at the monthly and weekly charts * only published privately sorry * reveals major liquidity above us.
With several breakers and significant High Time Frame Order Blocks below us for reloading into.
There is liquidity now resting above us, approx $470 would see that liquidity taken with several flat tops now resting exactly on the 4HR Order Block. Entry would have been taken after watching the first reactions from the Order Block, and then seeing Market Structure Break. A last reload into the 4HR OB would be of course the ideal entry, with price then ripping and creating a painless trade immediately thrown into profit.
We are now consolidating on a significant breaker, that was previously used to take several old significant highs of liquidity.
I would be looking for Market Models and a further down-leg, reloading and then taking previous highs. Thin price action above us immediately will want to get filled in.
Twitter handle @sirdavidjcooper
I do not intend on posting regular ICT theory. This was just for educational purposes out of interest to see if ICT can be applied to this asset class.