Bitcoin is Bearish or Bullish?

11 มิ.ย.

To analyze the BTCUSD Bitcoin to USD (BTC/USD) chart using the ICT style, we focus on the following key points and concepts:

1. Overall Trend Observation:
The chart shows that Bitcoin's price has been in an upward trend starting from October 2023 and continuing until June 2024. Currently, a slight decline in the price is observed.

2. Liquidity Zones :
- **Buy-Side Liquidity**: At higher levels (strong resistances), there are buy-side liquidity zones that can be considered as targets for an upward move. These zones include around $72,500, which is seen as a major resistance level.
- **Sell-Side Liquidity**: At lower levels (strong supports), there are sell-side liquidity zones. These zones include around $60,000 and $55,000, which are seen as strong support levels.

3. Order Blocks :
- **Bullish Order Block**: There is a bullish order block in the area of $63,000 to $64,000, indicating buying interest in this zone.
- **Bearish Order Block**: If the price moves to lower levels, the bearish order block around $55,000 could be a significant area for a price reversal.

4. Fair Value Gaps (FVG):
- If the price continues to drop, there might be fair value gaps between $60,000 and $62,000 that could be filled.

5. Volume Analysis:
- Increasing volume during price rises confirms the upward trend.
- Decreasing volume during price drops can indicate seller weakness and increase the likelihood of a price reversal from support levels.

6. Key Levels to Watch:
- **Support**: $60,000 and $55,000 act as key support levels.
- **Resistance**: $70,000 and $72,500 act as key resistance levels.

Conclusion:
According to the ICT analysis, Bitcoin is in an overall upward trend but has recently seen a price drop. The price might move towards lower support levels before potentially reversing. Monitoring trading volume and price behavior near key liquidity zones, order blocks, and fair value gaps can provide good guidance for trading decisions.