In this week’s update, let’s delve into higher time frame charts to gain valuable insights after the significant pump observed yesterday. The H12 and H1 charts might not offer clear directional cues, given the recent market activity.
Bitcoin Chart (W): Examining the weekly chart, we observe that we’ve entered the premium range indicated by the Fib tool on the left. The market has cleared the internal buy side liquidity at the EQ level of the range, residing within a weekly fair value gap. Notably, there’s a weekly breaker block just above this fair value gap. One speculation is whether this recent price surge was orchestrated by news events, possibly manipulated by market makers to drive up prices before a planned price dump, allowing ETFs to acquire cheaper Bitcoin just before their approvals in early 2024. I’ll be vigilant in this area, watching for signs of weakness on the H12 or H4 time frames to confirm any short ideas.
Bitcoin Chart (H12): A quick glance at the H12 chart reveals a substantial upward pump with limited pullbacks. This rapid ascent makes it prudent to exercise patience and wait for the market to stabilize. In my previous updates, I anticipated downside movement to clear out liquidity below the price, but the expected correction did not materialize, causing me to miss out on this significant uptick.
Hyblock Charts: Moving on to higher time frame Hyblock charts, starting with the 1-year chart, it’s evident that there are no significant yellow zones above the price. Below the price, there is a notable level at $23,600. Transitioning to the 3-month chart, there are no discernible levels above the price, with a prominent level at $23,600 below. After analyzing various time frames on Hyblock charts, most show significant levels below the price and scarce levels above. I will closely monitor these levels, observing how price action unfolds. Stay tuned for further updates on these intriguing market dynamics.
Welcome to the Sunday Bitcoin & Hyblock Update!
In this week’s update, let’s delve into higher time frame charts to gain valuable insights after the significant pump observed yesterday. The H12 and H1 charts might not offer clear directional cues, given the recent market activity.
Bitcoin Chart (W): Examining the weekly chart, we observe that we’ve entered the premium range indicated by the Fib tool on the left. The market has cleared the internal buy side liquidity at the EQ level of the range, residing within a weekly fair value gap. Notably, there’s a weekly breaker block just above this fair value gap. One speculation is whether this recent price surge was orchestrated by news events, possibly manipulated by market makers to drive up prices before a planned price dump, allowing ETFs to acquire cheaper Bitcoin just before their approvals in early 2024. I’ll be vigilant in this area, watching for signs of weakness on the H12 or H4 time frames to confirm any short ideas.
Bitcoin Chart (H12): A quick glance at the H12 chart reveals a substantial upward pump with limited pullbacks. This rapid ascent makes it prudent to exercise patience and wait for the market to stabilize. In my previous updates, I anticipated downside movement to clear out liquidity below the price, but the expected correction did not materialize, causing me to miss out on this significant uptick.
Hyblock Charts: Moving on to higher time frame Hyblock charts, starting with the 1-year chart, it’s evident that there are no significant yellow zones above the price. Below the price, there is a notable level at $23,600. Transitioning to the 3-month chart, there are no discernible levels above the price, with a prominent level at $23,600 below. After analyzing various time frames on Hyblock charts, most show significant levels below the price and scarce levels above. I will closely monitor these levels, observing how price action unfolds. Stay tuned for further updates on these intriguing market dynamics.
Weekly High Impact News:
http://wisenode.media/news/weekly-trading-data-summary-2
Wishing everyone a successful trading week ahead!