Hyblock Charts: Starting with the 3-month chart, numerous yellow zones persist below the current price, specifically at $33,000, $27,000, and $25,800. Above the price, no yellow zones have materialized yet. Transitioning to the 1-month chart, there are zones forming at the $45,000 area above the current price, although they haven’t turned yellow, and below the price, there’s a zone at $35,500. Given the presence of several zones below the current price, it suggests a potential downward movement to collect these zones before a more significant upward shift.
Bitcoin Chart (Daily): On the daily chart, the current weekly range and weekly fair value gap are marked. The price has halted within a weekly fair value gap, showing signs of waning momentum. Towards the end of the previous week, a daily/h4 swing failure pattern occurred, followed by a sell-off at the beginning of this week. The inclination is towards further downside, considering the untapped lows and the unfilled weekly fair value gap, aligning with notable Hyblock liquidation levels. If a bounce occurs in this area, it could offer a viable shorting opportunity on lower time frames. However, without a clear daily market structure shift providing confirmation, any such move remains counter-trend, and it’s plausible that this could be a minor pullback within the daily range before a potential resumption of the upside.
Bitcoin & Hyblock Update
Hyblock Charts: Starting with the 3-month chart, numerous yellow zones persist below the current price, specifically at $33,000, $27,000, and $25,800. Above the price, no yellow zones have materialized yet. Transitioning to the 1-month chart, there are zones forming at the $45,000 area above the current price, although they haven’t turned yellow, and below the price, there’s a zone at $35,500. Given the presence of several zones below the current price, it suggests a potential downward movement to collect these zones before a more significant upward shift.
Bitcoin Chart (Daily): On the daily chart, the current weekly range and weekly fair value gap are marked. The price has halted within a weekly fair value gap, showing signs of waning momentum. Towards the end of the previous week, a daily/h4 swing failure pattern occurred, followed by a sell-off at the beginning of this week. The inclination is towards further downside, considering the untapped lows and the unfilled weekly fair value gap, aligning with notable Hyblock liquidation levels. If a bounce occurs in this area, it could offer a viable shorting opportunity on lower time frames. However, without a clear daily market structure shift providing confirmation, any such move remains counter-trend, and it’s plausible that this could be a minor pullback within the daily range before a potential resumption of the upside.
Happy trading in the week ahead!