Hyblock Charts: Starting with the 1-month chart, the $34,000 area remains a focal point, and above the current price, levels around $38,600 are emerging, though they haven’t solidified into a significant yellow area yet. Transitioning to the 7-day chart, a yellow zone is evident below the price at $36,400, while above the price, attention is directed towards the $38,500 zone, positioned above the recent high.
Bitcoin Chart (Daily): Examining the daily chart, as anticipated last week, the daily range highs were approached, with a subsequent run of the 7-day liquidation levels just below the range high towards the end of the previous week. Currently, my focus is on the green line (MSB), the breach of which would confirm a bearish bias.
Bitcoin Chart (H1): Shifting to the H1 chart, a liquidity sweep above the range highs is evident from the yellow circle on the charts. The subsequent gradual move to the downside, while not as swift as desired, prompts a cautious approach. I would have preferred a more rapid displacement to confirm a continued downtrend. With the gradual move downward, I’ll wait for the green line (MSB) to be broken to validate my bearish bias.
Welcome to the Bitcoin & Hyblock Update!
Hyblock Charts: Starting with the 1-month chart, the $34,000 area remains a focal point, and above the current price, levels around $38,600 are emerging, though they haven’t solidified into a significant yellow area yet. Transitioning to the 7-day chart, a yellow zone is evident below the price at $36,400, while above the price, attention is directed towards the $38,500 zone, positioned above the recent high.
Bitcoin Chart (Daily): Examining the daily chart, as anticipated last week, the daily range highs were approached, with a subsequent run of the 7-day liquidation levels just below the range high towards the end of the previous week. Currently, my focus is on the green line (MSB), the breach of which would confirm a bearish bias.
Bitcoin Chart (H1): Shifting to the H1 chart, a liquidity sweep above the range highs is evident from the yellow circle on the charts. The subsequent gradual move to the downside, while not as swift as desired, prompts a cautious approach. I would have preferred a more rapid displacement to confirm a continued downtrend. With the gradual move downward, I’ll wait for the green line (MSB) to be broken to validate my bearish bias.
Weekly Economic Data
https://skribr.io/app/news/weekly-economic-data-summary-4/
Wishing everyone a successful trading week ahead!