BTC ORDERFLOW HEATMAP 12/31/23 - SHORT TO 41200
It's been a real tough month to forecast bitcoin.
I've been delving into orderflow a lot more because you can only get an accurate picture of what price does and WHY it does so, is based on the real life orders that are in the market.
For this example of market behavior, here is the link to what I'm seeing with orders. I've annotate it so you guys can see market behavior.
LINK: imgur.com/mdBH4iB
PLEASE NOTE: THIS IS NOT A TRADINGVIEW PRODUCT, IT'S CALLED BOOKMAP. YOU CAN SEE EXISTING AND HISTORICAL ORDERFLOW WITH IT.
I believe that our retracement into the trailing stop orders prompted price to take out the last high, where we will be setting up for an ICT entry short since the market seems to want to sell this small rally as evidenced by the fact the the momentum failed to steer clear of large institutional sell orders.
We can also understand that since the Asian Killzone last night took out the NY killzone liquidity, that doomed the bullishness of this move.
I believe that price is currently setting up a long trap here. Volume Profile seems to show a lack of activity in this current range. I believe that a short position is a good call here. I'd like to see us take out the 41200 bottom. Take profit along the way.
Here is the orderflow image regarding the entry from near london high this morning:
imgur.com/vHEzuyJ
I am very interested in that 42800 price area. Stop loss on anything above the high.
I've been delving into orderflow a lot more because you can only get an accurate picture of what price does and WHY it does so, is based on the real life orders that are in the market.
For this example of market behavior, here is the link to what I'm seeing with orders. I've annotate it so you guys can see market behavior.
LINK: imgur.com/mdBH4iB
PLEASE NOTE: THIS IS NOT A TRADINGVIEW PRODUCT, IT'S CALLED BOOKMAP. YOU CAN SEE EXISTING AND HISTORICAL ORDERFLOW WITH IT.
I believe that our retracement into the trailing stop orders prompted price to take out the last high, where we will be setting up for an ICT entry short since the market seems to want to sell this small rally as evidenced by the fact the the momentum failed to steer clear of large institutional sell orders.
We can also understand that since the Asian Killzone last night took out the NY killzone liquidity, that doomed the bullishness of this move.
I believe that price is currently setting up a long trap here. Volume Profile seems to show a lack of activity in this current range. I believe that a short position is a good call here. I'd like to see us take out the 41200 bottom. Take profit along the way.
Here is the orderflow image regarding the entry from near london high this morning:
imgur.com/vHEzuyJ
I am very interested in that 42800 price area. Stop loss on anything above the high.