Starting with the Hyblock charts, last week we saw a return to the high liquidation level I was monitoring on the 3-month chart, and we experienced a strong bounce from there. However, there are still liquidation levels at $24,200 that I’ll keep an eye on in case we see another downward sweep. The 7-day chart doesn’t provide much new information, with a level forming around $24,700, which aligns with the 3-month chart. Above that, there aren’t significant high liquidation levels.
Moving on to the BTC charts: In the H12 chart, we had a notable bounce from the daily/H12 bullish order block at the end of last week, resulting in a market structure break and the formation of a new H12 range. If we see some retracement at the beginning of this week into the H12 fair value gap, I’ll consider a long position in that area, especially if there’s a long H1 setup. If not, I believe we may continue moving downward in search of lower liquidity.
The H1 chart is currently forming higher highs and higher lows. Even if the H1 chart starts forming lower lows and lower highs, when aligned with the H12 chart, it would still appear as a higher low. Therefore, if we reach the H12 fair value gap, I’ll look for a trigger for a long position on the H1 chart in that area.
Sunday update on Bitcoin and Hyblock charts:
Starting with the Hyblock charts, last week we saw a return to the high liquidation level I was monitoring on the 3-month chart, and we experienced a strong bounce from there. However, there are still liquidation levels at $24,200 that I’ll keep an eye on in case we see another downward sweep. The 7-day chart doesn’t provide much new information, with a level forming around $24,700, which aligns with the 3-month chart. Above that, there aren’t significant high liquidation levels.
Moving on to the BTC charts: In the H12 chart, we had a notable bounce from the daily/H12 bullish order block at the end of last week, resulting in a market structure break and the formation of a new H12 range. If we see some retracement at the beginning of this week into the H12 fair value gap, I’ll consider a long position in that area, especially if there’s a long H1 setup. If not, I believe we may continue moving downward in search of lower liquidity.
The H1 chart is currently forming higher highs and higher lows. Even if the H1 chart starts forming lower lows and lower highs, when aligned with the H12 chart, it would still appear as a higher low. Therefore, if we reach the H12 fair value gap, I’ll look for a trigger for a long position on the H1 chart in that area.
Wishing everyone a successful trading week!