Following the recent high, Bitcoin ($BTC) on the 4-hour chart is experiencing a healthy retracement. As an SMC (Smart Money Concepts) trader, this movement looks very intentional.
Key SMC Points I'm Watching (as seen on chart):
1,Discount Zone: Price is moving into a key discount area. I am looking for bullish confluence within a refined 4H Bullish Order Block (OB).
2,Liquidity Sweep: There is significant Sell-Side Liquidity sitting below the $65,000 area. I wouldn't be surprised to see a quick sweep before any reversal.
3,FVG: Keep an eye on the Fair Value Gap (FVG) directly above the order block. It often gets filled before price moves away.
Strategy: Waiting for an internal Break of Structure (iBOS) on lower timeframes (1H or 15m) near these levels to confirm a safe entry for a long position.
Where do you think $BTC reverses? 🤔 Let's discuss in the comments! Share your charts below!