In this analysis of Bitcoin, I intend to use SMT (Smart Money Trading) concepts to read the price and understand what the chart is indicating. Based on this analysis, I believe that Bitcoin's price will continue to experience strong downward movement until the second quarter of 2024, providing an opportunity for investors to make potentially profitable investments
"I am a new ICT student who is still learning and mastering the concepts. I practice your ideas daily, analyzing markets such as the S&P 500,Nas, US30 commodities like gold, and cryptocurrencies. Stay tuned for more updates!"
I completely agree, I am usually bullish when people are bearish and all of this "banks can't be trusted so the money is going to Bitcoin" doesn't hold water with me. I think there is either part of this Wyckoff accumulation(spring) that is not complete or we have a redistribution. I am hoping it is the first because the thoughts of another 6 months of ranging and doom is really not good. I reckon when the banks started collapsing the whales started pumping to de-risk again. The narrative of Btc being the only safe haven now is a great excuse for them. Let's pray it is just the last spring and then moon!!