As we start another week, let’s take a look at BTC, DXY, and the Hyblock liquidation heatmap.
Starting with DXY, we had a nice SFP off February lows on the weekly chart with a decent reaction so far. On the H12 chart, there are a few levels above that could be hit before continuing to the downside after taking the internal liquidity. I think we may still have some lower levels on the DXY on higher time frames, so a little rally here before going down further would not surprise me.
Looking at the 3-month heatmap on Hyblock, we can see a lot of liquidity to the downside at the 25k, 22k, and 19k areas. The upside hasn’t really got much to offer the market makers, so it might be something to watch if we start breaking to the downside that this move higher is done and we need to clear out some sell-side liquidity.
BTC is starting to show some sideways chop at the moment, indicating that buyers are unable to keep pushing the price higher. We might start seeing a pullback to clear out some sell-side liquidity, as I mentioned earlier. As shown in my two purple boxes, we had a nice push up in the first box, then slowed down and rolled over to the downside. This could be a possible indication that we might do the same thing here after we pushed up we may need to go down to go back up. This would also line up with a DXY pushing higher.
BTC Update:
As we start another week, let’s take a look at BTC, DXY, and the Hyblock liquidation heatmap.
Starting with DXY, we had a nice SFP off February lows on the weekly chart with a decent reaction so far. On the H12 chart, there are a few levels above that could be hit before continuing to the downside after taking the internal liquidity. I think we may still have some lower levels on the DXY on higher time frames, so a little rally here before going down further would not surprise me.
Looking at the 3-month heatmap on Hyblock, we can see a lot of liquidity to the downside at the 25k, 22k, and 19k areas. The upside hasn’t really got much to offer the market makers, so it might be something to watch if we start breaking to the downside that this move higher is done and we need to clear out some sell-side liquidity.
BTC is starting to show some sideways chop at the moment, indicating that buyers are unable to keep pushing the price higher. We might start seeing a pullback to clear out some sell-side liquidity, as I mentioned earlier. As shown in my two purple boxes, we had a nice push up in the first box, then slowed down and rolled over to the downside. This could be a possible indication that we might do the same thing here after we pushed up we may need to go down to go back up. This would also line up with a DXY pushing higher.