BTC/USD Potential Forecast | Monday 12th December 2022

Hi everyone, today I will be talking about a possible BTCUSD long trade using Smart Money Concepts.

Trade idea
1. On the H4 timeframe, price is bullish
2. Higher highs and higher lows being formed as shown by the red highlights
3. Area of market imbalance marked by the blue zone serves as a potential reversal point
4. Anticipate price to come down to clear the low before heading back up

BTCUSD, being one of the most volatile instruments to trade, constantly see liquidity grabs before starting to push up.

We will wait for lows to be cleared before taking longs.
Confirmations are based on a technical standpoint.

Areas to look out for:
- Upcoming FOMC meeting could potentially impact BTCUSD.
- If Fed meeting were to be perceived as hawkish, that would be detrimental to our trade.

Regards,
Chern Yu