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BTC Major Counter-Attack — Check out @coinank's SMC (Smart Money Concepts) indicator on the BTC 1H chart. The chart contains several key elements:
Price Zones
• Pink Area (Upper) = Supply Zone/Resistance Band, historical distribution area for market makers
• Green Area (Lower) = Demand Zone/Support Band, historical accumulation area for market makers
• BB (Blue Square) = Breaker Block, support that was broken and then turned into resistance
• FVG (Gray Area) = Fair Value Gap, a "value gap" left by candlestick gaps, which prices tend to fill
Signal Markers
• 🔴 Red Triangle (▲ pointing up) = Sell signal (appears at the top of the supply zone)
• 🟢 Green Triangle (▼ pointing down) = Buy signal (appears at the bottom of the demand zone)
• S / S1 / S2 = Swing high points, structural reference levels
• K / % = Key price levels marked on the left
Bottom Sub-chart
• Volume histogram
• Open Interest (OI) candlestick: OI has been steadily increasing after 3-13, combined with rising prices = long positions increasing, indicating a bullish bias
Current status: Price is at $73,055, just broke above the previous high near $73,299, with OI rising in tandem. Short-term focus should be on whether $73,299 can be sustained effectively.