Bitcoin (BTC/USD)
Price Action: Bitcoin hit an all-time high near $111,980, followed by a ~10% correction to around $100,372. It found strong support at the psychological $100,000 level and rebounded to about $105,500. Bulls are currently struggling to maintain momentum above $110,000.
Support/Resistance Levels:
Support: $100,000 (key psychological), $90,000 (stronger support)
Resistance: $110,000 (immediate), $111,980 (all-time high), $125,000 (next major resistance)
Resistance around $105,000-$106,000 is also critical, with RSI at 62 indicating room for upside before overbought conditions.
SMC & ICT Insights:
Bitcoinโs price structure shows a Break of Structure (BOS) at the all-time high, followed by a minor correction and a Change of Character (ChoCH) as it bounced off $100K support, signaling institutional accumulation.
Order blocks likely exist near $100K and $90K, where smart money is accumulating before pushing price higher.
On-chain data supports stealth accumulation, with declining exchange balances and high futures open interest, indicating a potential volatility breakout ahead.
Traders should watch for a decisive break and close above $111,980 to confirm continuation of the uptrend, aligning with ICT principles of trend confirmation.
Summary:
Gold is in a bullish uptrend with key support near 3100-3110 and resistance around 3135-3140; smart money concepts suggest buying on dips near order blocks. Bitcoin is consolidating above strong support at $100K with resistance near $110K-$112K; institutional accumulation signals a likely breakout if the all-time high is surpassed. Both markets show typical SMC/ICT patterns of BOS and ChoCH, indicating smart money positioning for further gains.
