Hyblock Charts: On the 3-month chart, we touched the high liquidation level at $24,600 but still have a lower high liquidation level at $24,200. The 1-month chart shows a significant yellow level below at $23,500 with no yellow levels above. The 7-day chart indicates a below level at $23,650 and several above levels ranging from $29,000 to $29,700.
Noteworthy is the discrepancy between bitcoin perpetual futures contracts reaching $24,300 and most spot charts stopping around $25,500. This suggests a pronounced liquidation cascade driving the price down.
Bitcoin Chart (H12): Last week, a new H12 range was formed following significant market news, stopping around the H12 Bullish orderblock. Anticipating another drop to align with hyblock liquidation levels from $24,200 to $23,650. While a bounce to fill fair value gaps into the new H12 bearish orderblock is possible, an eventual move below the current H12 range into hyblock liquidation levels is expected.
Bitcoin Chart (H1): The H1 chart is currently displaying sideways movement after the substantial drop last week. Observing whether the price hits below liquidation levels or bounces to fill fair value gaps into the H12 bearish orderblock. Planning to remain on the sidelines until these scenarios unfold.
High Impact News: Significant news is expected this week on Wednesday, Thursday, and Friday.
Welcome to the Bitcoin & Hyblock Sunday Update.
Hyblock Charts: On the 3-month chart, we touched the high liquidation level at $24,600 but still have a lower high liquidation level at $24,200. The 1-month chart shows a significant yellow level below at $23,500 with no yellow levels above. The 7-day chart indicates a below level at $23,650 and several above levels ranging from $29,000 to $29,700.
Noteworthy is the discrepancy between bitcoin perpetual futures contracts reaching $24,300 and most spot charts stopping around $25,500. This suggests a pronounced liquidation cascade driving the price down.
Bitcoin Chart (H12): Last week, a new H12 range was formed following significant market news, stopping around the H12 Bullish orderblock. Anticipating another drop to align with hyblock liquidation levels from $24,200 to $23,650. While a bounce to fill fair value gaps into the new H12 bearish orderblock is possible, an eventual move below the current H12 range into hyblock liquidation levels is expected.
Bitcoin Chart (H1): The H1 chart is currently displaying sideways movement after the substantial drop last week. Observing whether the price hits below liquidation levels or bounces to fill fair value gaps into the H12 bearish orderblock. Planning to remain on the sidelines until these scenarios unfold.
High Impact News: Significant news is expected this week on Wednesday, Thursday, and Friday.
Wishing everyone a successful trading week ahead!