Let’s begin with the Hyblock charts. On the 3-month chart, we still have a significant level at $24,200, and now we are starting to see a high level forming around $32,000. I’ll be closely monitoring the $32,000 level now that we are just below it. The 7-day chart doesn’t reveal much, but there is a level at $27,700 and some liquidation building up around the $31,700 area.
Moving on to the Bitcoin charts: Starting with the H12 chart, we experienced a strong bounce from the daily/H12 bullish order block, showing solid strength and limited retracement before moving higher. We made a nearly straight ascent to the high-level liquidation levels at $31,000 and are currently in a sideways phase. If we see any retracement to the downside, I’ll be looking for long positions to capture a higher move.
Looking at the H1 chart, we can observe a slight stall as we reached the $31,000 area and started moving sideways. While we formed a higher high on the H1, the H12 chart indicated it as a swing failure pattern, suggesting a loss of momentum. One thing I’m keeping an eye on is the three-drive pattern, as indicated by the arrows on the H1 chart. Typically, market makers create three drives into an area before initiating a reversal, so it’s something to consider.
In the Sunday update on Bitcoin and Hyblock:
Let’s begin with the Hyblock charts. On the 3-month chart, we still have a significant level at $24,200, and now we are starting to see a high level forming around $32,000. I’ll be closely monitoring the $32,000 level now that we are just below it. The 7-day chart doesn’t reveal much, but there is a level at $27,700 and some liquidation building up around the $31,700 area.
Moving on to the Bitcoin charts: Starting with the H12 chart, we experienced a strong bounce from the daily/H12 bullish order block, showing solid strength and limited retracement before moving higher. We made a nearly straight ascent to the high-level liquidation levels at $31,000 and are currently in a sideways phase. If we see any retracement to the downside, I’ll be looking for long positions to capture a higher move.
Looking at the H1 chart, we can observe a slight stall as we reached the $31,000 area and started moving sideways. While we formed a higher high on the H1, the H12 chart indicated it as a swing failure pattern, suggesting a loss of momentum. One thing I’m keeping an eye on is the three-drive pattern, as indicated by the arrows on the H1 chart. Typically, market makers create three drives into an area before initiating a reversal, so it’s something to consider.
Wishing everyone a successful trading week!