๐ Bitcoin Monthly ๐
The monthly chart for $BTC shows institutional precision! Those two purple lines represent the Consequent Encroachment (C.E.) of Monthly Fair Value Gaps (FVG).
The Role of Consequent Encroachment ๐
In ICT methodology, the 50% level (C.E.) of a high-timeframe gap acts as a "magnetic" level for price delivery.
Upper C.E. (99,083): Price is currently respecting this level as a Premium PD Array. This acts as a draw on liquidity; staying below it suggests a balanced price range or potential retracement.
Lower C.E. (80,552): This is your Discount POI. If the market shifts bearish, this is the institutional level where smart money often seeks to re-accumulate.
Market Narrative ๐
BTC is currently battling the Weekly FVG just below the upper C.E. A daily close above 99k would signal a massive expansion toward new ATHs, as it confirms the market is ready to leave the premium equilibrium behind. ๐
Watch the levels:
Bullish Bias: Hold the Weekly FVG.
Bearish Draw: Revisit the 80k Discount C.E.
Trade with the HTF flow! ๐ก๏ธ๐ผ