Welcome to the Sunday update on Bitcoin and Hyblock.
Starting with the Hyblock charts, the 3-month chart remains unchanged, showing a significant level below price at $24,200 and no yellow zones above price. We will now focus on the 1-month chart and monitor its levels. Above price, there are two yellow zones at $33,200 and $36,300, while below price, levels are at $27,400 and $24,200. The 7-day chart indicates high liquidity levels above price at $29,750 and $30,250, while below price at $28,800 and $28,250, suggesting the possibility of a false move before a reversal in the opposite direction.
Moving on to the Bitcoin chart, let’s review the H12 Bitcoin chart. We are currently trading inside the H12 range formed last week and have seen limited price movement despite high impact news. With significant liquidity on both sides of price, I anticipate the potential for a false move, sweeping liquidity before a reversal. I will closely watch for a rejection of the H12 bearish order block above price for short opportunities and monitor for a sweep of the H12 range low and a reclaim back inside the range for potential long setups.
Now, let’s analyze the H1 chart. It doesn’t show any clear direction at the moment. However, considering that we are currently in the discount zone of the H12 range, as indicated by the blue zone in the Fibonacci tool, I expect to see the H12 lows being tested at the start of the week before a potential upside reversal.
This week, we have high impact news on Wednesday, Thursday, and Friday.
Welcome to the Sunday update on Bitcoin and Hyblock.
Starting with the Hyblock charts, the 3-month chart remains unchanged, showing a significant level below price at $24,200 and no yellow zones above price. We will now focus on the 1-month chart and monitor its levels. Above price, there are two yellow zones at $33,200 and $36,300, while below price, levels are at $27,400 and $24,200. The 7-day chart indicates high liquidity levels above price at $29,750 and $30,250, while below price at $28,800 and $28,250, suggesting the possibility of a false move before a reversal in the opposite direction.
Moving on to the Bitcoin chart, let’s review the H12 Bitcoin chart. We are currently trading inside the H12 range formed last week and have seen limited price movement despite high impact news. With significant liquidity on both sides of price, I anticipate the potential for a false move, sweeping liquidity before a reversal. I will closely watch for a rejection of the H12 bearish order block above price for short opportunities and monitor for a sweep of the H12 range low and a reclaim back inside the range for potential long setups.
Now, let’s analyze the H1 chart. It doesn’t show any clear direction at the moment. However, considering that we are currently in the discount zone of the H12 range, as indicated by the blue zone in the Fibonacci tool, I expect to see the H12 lows being tested at the start of the week before a potential upside reversal.
This week, we have high impact news on Wednesday, Thursday, and Friday.
Wishing everyone a successful trading week ahead!