Welcome to the Sunday update on Bitcoin and Hyblock.
Hyblock Charts: Looking at the 1-month chart, a significant level is present above price at $30,500, and approaching yellow zones are noted below price in the range of $28,300 to $28,100. The 7-day chart indicates levels below price at $28,950 and $28,350, with a level above at $30,450.
Bitcoin Chart (H12): We are currently within the H12 range formed a few weeks ago. Last week, I anticipated a false move downwards before an upwards move. Although there was no spike into the 1-month liquidations, a spike occurred into the 7-day liquidation at $28,700 before heading towards the top of the H12 range. The recent price action involved selling off after reaching the 1-month hyblock liquidation level at $30,200, as highlighted in the previous update. Presently, we are inside the H12 bullish orderblock, and a swing failure pattern on H12 low has formed, but the close is pending for another 7 hours.
Bitcoin Chart (H1): The H1 chart reflects being inside the discount zone of the H12 range, similar to the previous week. A swing failure pattern has emerged, and I am closely observing whether it continues by breaking the marked MSB green line. If not, I will watch for a potential hit of the 7-day liquidation level at $28,950 and anticipate a subsequent H1 bullish long setup.
High Impact News: This week, there is significant news on Tuesday, Wednesday, and Friday.
Welcome to the Sunday update on Bitcoin and Hyblock.
Hyblock Charts: Looking at the 1-month chart, a significant level is present above price at $30,500, and approaching yellow zones are noted below price in the range of $28,300 to $28,100. The 7-day chart indicates levels below price at $28,950 and $28,350, with a level above at $30,450.
Bitcoin Chart (H12): We are currently within the H12 range formed a few weeks ago. Last week, I anticipated a false move downwards before an upwards move. Although there was no spike into the 1-month liquidations, a spike occurred into the 7-day liquidation at $28,700 before heading towards the top of the H12 range. The recent price action involved selling off after reaching the 1-month hyblock liquidation level at $30,200, as highlighted in the previous update. Presently, we are inside the H12 bullish orderblock, and a swing failure pattern on H12 low has formed, but the close is pending for another 7 hours.
Bitcoin Chart (H1): The H1 chart reflects being inside the discount zone of the H12 range, similar to the previous week. A swing failure pattern has emerged, and I am closely observing whether it continues by breaking the marked MSB green line. If not, I will watch for a potential hit of the 7-day liquidation level at $28,950 and anticipate a subsequent H1 bullish long setup.
High Impact News: This week, there is significant news on Tuesday, Wednesday, and Friday.
Wishing everyone a successful trading week ahead!