Hyblock Charts: Let’s switch gears and explore some higher timeframe charts on Hyblock for potential insights. Starting with the 3-month chart, a multitude of yellow zones is evident below the current price, while above the price, no zones have emerged yet. Although we passed through a zone at $40,800 earlier this week, the majority of liquidation levels are situated below the current price. Transitioning to the 6-month chart, my attention is captured by a single zone at $24,000. Upon reviewing even higher timeframes, it becomes clear that all liquidation levels are positioned below the current price.
Bitcoin Chart (Weekly): Examining the weekly chart reveals an unbroken upward trend for the past eight weeks, with no substantial corrections. Despite initial expectations for a pullback, particularly after entering the weekly breaker block or weekly fair value gap, the price has persistently surged through all identified bearish points of interest. Currently, there is a single weekly bearish fair value gap positioned above the current price, potentially serving as resistance. Should we close above this area, I anticipate a potential move towards highs at $48,000, marking the initiation of a monthly fair value gap. While a correction for Bitcoin seems overdue, it’s essential to acknowledge that the price may continue its ascent before any significant downturn. My primary focus is on monitoring the above weekly fair value gap for signs of weakness, and when observed, I believe zones around the $24,000 area could be targeted for liquidity before the next major upward move.
Welcome to the Bitcoin & Hyblock Update!
Hyblock Charts: Let’s switch gears and explore some higher timeframe charts on Hyblock for potential insights. Starting with the 3-month chart, a multitude of yellow zones is evident below the current price, while above the price, no zones have emerged yet. Although we passed through a zone at $40,800 earlier this week, the majority of liquidation levels are situated below the current price. Transitioning to the 6-month chart, my attention is captured by a single zone at $24,000. Upon reviewing even higher timeframes, it becomes clear that all liquidation levels are positioned below the current price.
Bitcoin Chart (Weekly): Examining the weekly chart reveals an unbroken upward trend for the past eight weeks, with no substantial corrections. Despite initial expectations for a pullback, particularly after entering the weekly breaker block or weekly fair value gap, the price has persistently surged through all identified bearish points of interest. Currently, there is a single weekly bearish fair value gap positioned above the current price, potentially serving as resistance. Should we close above this area, I anticipate a potential move towards highs at $48,000, marking the initiation of a monthly fair value gap. While a correction for Bitcoin seems overdue, it’s essential to acknowledge that the price may continue its ascent before any significant downturn. My primary focus is on monitoring the above weekly fair value gap for signs of weakness, and when observed, I believe zones around the $24,000 area could be targeted for liquidity before the next major upward move.