BTC provides a 2nd entry? 22R Long - ICT's Smart Money Concepts
BTC bounced from my entry point (which is also the consolidation I posted my last 20R+ long swing trade from a few weeks ago) giving me the confidence to post this.
My thesis is predicated on the fact the megaphone pattern on the daily I shared in the last BTC long trade still has not reached target, as well as the inverted H&S on the weekly, so in theory this is only a large pullback from a weekly -OB/Demand Zone, into a Fair Value Gap in discount, before continuing upwards. There is always the possibility that BTC pulls back even further taking out the stops and testing the top of the inv. H&S.
On the macro, investors are looking to Gold and BTC to hedge against the devaluation of their currencies as well as the looming bank failures.
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