Due to recent weekend work commitments, I couldn’t provide my usual Sunday update. However, I wanted to share a midweek update with you instead. Please refer to the attached charts: H12 and H1 for BTC, as well as the Hyblock 7-day and 3-month charts.
Let’s begin with the analysis of the Hyblock charts. The 7-day chart highlights a significant liquidation level around $27,800, which coincides with a previous high. On the 3-month chart, I’m particularly interested in an untapped level at $25,400, accompanied by a substantial 60B liquidations. This level appears highly enticing, and I believe it would be prudent to touch that area before any substantial upward bounce.
Now, let’s shift our focus to the BTC chart. The H12 chart clearly indicates a bearish downtrend, featuring a new external range. On Monday, we touched the H12 bearish order block and started moving away from that region. Based on my analysis, I anticipate a potential return to that high to perform a sweep, aligning with the observations from the 7-day Hyblock chart. Following the sweep, our trajectory may lead towards the $25,400 level indicated on the 3-month chart.
Examining the H1 chart, we recently experienced an H1 SFP, followed by a break in market structure to the downside. This suggests signs of weakness. However, it’s worth noting that we have rebounded from an H1 bullish order block that absorbed downside liquidity before the market structure broke. Presently, the price action appears a bit uncertain. If you’re not currently in a trade, I would recommend exercising caution and waiting for clearer price action signals to emerge before entering any new positions.
Due to recent weekend work commitments, I couldn’t provide my usual Sunday update. However, I wanted to share a midweek update with you instead. Please refer to the attached charts: H12 and H1 for BTC, as well as the Hyblock 7-day and 3-month charts.
Let’s begin with the analysis of the Hyblock charts. The 7-day chart highlights a significant liquidation level around $27,800, which coincides with a previous high. On the 3-month chart, I’m particularly interested in an untapped level at $25,400, accompanied by a substantial 60B liquidations. This level appears highly enticing, and I believe it would be prudent to touch that area before any substantial upward bounce.
Now, let’s shift our focus to the BTC chart. The H12 chart clearly indicates a bearish downtrend, featuring a new external range. On Monday, we touched the H12 bearish order block and started moving away from that region. Based on my analysis, I anticipate a potential return to that high to perform a sweep, aligning with the observations from the 7-day Hyblock chart. Following the sweep, our trajectory may lead towards the $25,400 level indicated on the 3-month chart.
Examining the H1 chart, we recently experienced an H1 SFP, followed by a break in market structure to the downside. This suggests signs of weakness. However, it’s worth noting that we have rebounded from an H1 bullish order block that absorbed downside liquidity before the market structure broke. Presently, the price action appears a bit uncertain. If you’re not currently in a trade, I would recommend exercising caution and waiting for clearer price action signals to emerge before entering any new positions.