Firstly sorry for late update this week, I have a baby due in coming days so been looking after the wife and making sure we have everything ready for the incoming baby.
Hyblock Charts: On the 3-month chart, we’re seeing an increase in high-level liquidation zones below the price, ranging from $24,400 to $23,400, with no significant levels above. The 1-month chart remains consistent, indicating a prominent level at $23,500. The 7-day chart shows high levels at $26,700 and $28,300, with no significant levels below the current price.
Bitcoin Chart (H12): Bitcoin is still trading within the H12 range that formed a few weeks ago. Although we experienced a substantial price increase last week due to ETF news, the entire move has been reversed, resulting in a H12 internal market structure break. I’m anticipating a H12 sweep of the lows at $24,400 into the 3-month and 1-month hyblock liquidation levels, followed by a reclaim of the current H12 range for a long position. If we close below this level, I expect further downside toward the low $20k range.
Bitcoin Chart (H1): Looking at the H1 chart, we can observe a significant upward move triggered by ETF news, followed by a complete retracement and closing below previous lows. There’s a visible 7-day liquidation level above the current price within a well-defined H1 fair value gap. While I don’t rule out the possibility of another push upward into that region before heading lower, the current sideways price action and the H12 market structure break to the downside suggest further downside potential toward the H12 low at $24,400.
This week, the only high-impact news is scheduled for Thursday.
Welcome to the Bitcoin & Hyblock charts
Firstly sorry for late update this week, I have a baby due in coming days so been looking after the wife and making sure we have everything ready for the incoming baby.
Hyblock Charts: On the 3-month chart, we’re seeing an increase in high-level liquidation zones below the price, ranging from $24,400 to $23,400, with no significant levels above. The 1-month chart remains consistent, indicating a prominent level at $23,500. The 7-day chart shows high levels at $26,700 and $28,300, with no significant levels below the current price.
Bitcoin Chart (H12): Bitcoin is still trading within the H12 range that formed a few weeks ago. Although we experienced a substantial price increase last week due to ETF news, the entire move has been reversed, resulting in a H12 internal market structure break. I’m anticipating a H12 sweep of the lows at $24,400 into the 3-month and 1-month hyblock liquidation levels, followed by a reclaim of the current H12 range for a long position. If we close below this level, I expect further downside toward the low $20k range.
Bitcoin Chart (H1): Looking at the H1 chart, we can observe a significant upward move triggered by ETF news, followed by a complete retracement and closing below previous lows. There’s a visible 7-day liquidation level above the current price within a well-defined H1 fair value gap. While I don’t rule out the possibility of another push upward into that region before heading lower, the current sideways price action and the H12 market structure break to the downside suggest further downside potential toward the H12 low at $24,400.
This week, the only high-impact news is scheduled for Thursday.
Wishing everyone a successful trading week ahead!