Sunday Bitcoin & Hyblock charts

BTC/USD,  12H / 1H Neutral

Welcome to the Bitcoin & Hyblock Sunday Update.

Hyblock Charts: On the 3-month chart, there’s a substantial range below price from $24,400 to $23,400, with no significant levels above. The 1-month chart remains unchanged, indicating a high level at $23,500. The 7-day chart displays a high level below price at $25,100 and above price at $26,950.

Bitcoin Chart (H12): Currently trading within the H12 range established a few weeks ago, last week saw sideways movement following a significant drop. The market needed time to digest and assess the next move. Given the substantial liquidation levels shown by the 3-month and 1-month hyblock charts below price, a downside move is anticipated before any definitive direction. A strong bounce might lead to a long opportunity on lower time frames. Failing bullish structure could result in a drop into the low $20k range.

Bitcoin Chart (H1): The H1 chart shows a sideways pattern since the drop, and a downside inclination is present this week. However, monitoring the H12 fair value gap above for any rejection on the H1 timeframe.

High impact news is expected this week on Wednesday, Thursday, and Friday.

Wishing everyone a successful trading week ahead!

X

This field is for validation purposes and should be left unchanged.
X