Welcome to the Sunday Bitcoin & Hyblock charts update.
Hyblock Charts: As I discussed last week, longer-term charts are gradually accumulating high liquidation levels below the current price. To avoid repetition, please refer to last week’s Sunday update for details on these longer-term charts. Now, focusing on the 1-month chart, it shows a high liquidation level below the price at $23,500, with another level beginning to form at $20,900, close to the March low, and one above the price at $28,500. On the 7-day chart, there’s a level above the price at $27,050 and one below at $25,650.
Bitcoin Chart (H12): Examining the H12 chart, we’ve observed an internal market structure break to the upside shortly after my last week’s update. This suggests that the market is in a phase of sideways consolidation as it seeks out easy liquidity. Although I still believe that the liquidation levels below the price will be a target for market makers, it’s possible that we may move higher into the premium zone of the H12 range before eventually descending. I’ve marked a H12 bearish order block near the top of the H12 range. Currently, we are trading within a H12 fair value gap, but there hasn’t been much reaction from that area yet. Therefore, I’ll closely monitor how the week unfolds.
Bitcoin Chart (H1): On the H1 chart, we can clearly see both market structure breaks indicated by the green line (MSB). It’s evident how we are moving between liquidity zones, clearing out previous week’s lows before bouncing higher into the H12 fair value gap. With the 7-day liquidation level just above the price, I anticipate that we may reach that area at the beginning of the week, and I’ll be looking for a reaction in that region as a potential shorting opportunity.
This week, there is high-impact news to watch out for, including the Fed funds rate announcement on Thursday and the Manufacturing/Services Purchasing Managers’ Index (PMI) release on Friday.
Wishing everyone a successful and happy trading week ahead!
Welcome to the Sunday Bitcoin & Hyblock charts update.
Hyblock Charts: As I discussed last week, longer-term charts are gradually accumulating high liquidation levels below the current price. To avoid repetition, please refer to last week’s Sunday update for details on these longer-term charts. Now, focusing on the 1-month chart, it shows a high liquidation level below the price at $23,500, with another level beginning to form at $20,900, close to the March low, and one above the price at $28,500. On the 7-day chart, there’s a level above the price at $27,050 and one below at $25,650.
Bitcoin Chart (H12): Examining the H12 chart, we’ve observed an internal market structure break to the upside shortly after my last week’s update. This suggests that the market is in a phase of sideways consolidation as it seeks out easy liquidity. Although I still believe that the liquidation levels below the price will be a target for market makers, it’s possible that we may move higher into the premium zone of the H12 range before eventually descending. I’ve marked a H12 bearish order block near the top of the H12 range. Currently, we are trading within a H12 fair value gap, but there hasn’t been much reaction from that area yet. Therefore, I’ll closely monitor how the week unfolds.
Bitcoin Chart (H1): On the H1 chart, we can clearly see both market structure breaks indicated by the green line (MSB). It’s evident how we are moving between liquidity zones, clearing out previous week’s lows before bouncing higher into the H12 fair value gap. With the 7-day liquidation level just above the price, I anticipate that we may reach that area at the beginning of the week, and I’ll be looking for a reaction in that region as a potential shorting opportunity.
This week, there is high-impact news to watch out for, including the Fed funds rate announcement on Thursday and the Manufacturing/Services Purchasing Managers’ Index (PMI) release on Friday.
Wishing everyone a successful and happy trading week ahead!