$BTC

Analyzing BTC/USDT on the Weekly (1W) timeframe using Smart Money Concepts (SMC). The structure is telling a very clear story of liquidity and mitigation.

Key Technical Observations:

BOS (Break of Structure): Market confirmed its long-term bullish intent by breaking previous highs, establishing strong upward momentum.

Liquidity Sweep: Price reached the top, swept the buy-side liquidity, and is now undergoing a healthy correction to rebalance the market.

FVG (Fair Value Gap): Notice the price action filling the inefficiency (FVG) left during the previous impulsive move.

Mitigation Block: The most critical zone is the Mitigation Block (highlighted around the 80k-90k region). This is a high-probability area where institutional orders might be waiting to get mitigated.

The Strategy:

I am closely watching for a CHoCH (Change of Character) on the lower timeframes once the price enters the Mitigation Block. Remember, we trade the reaction, not just the level!

What’s your take on Bitcoin? Is the bottom near, or do we see a deeper sweep? Let’s discuss in the comments! 👇

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