Firstly, I’d like to apologise for the absence of the Sunday update last week due to work commitments. I got extremely busy, and unfortunately, I couldn’t manage to provide the update.
Hyblock Charts: Let’s begin by examining the 1-month chart, where there are no significant levels above the current price. However, below the price, there is a yellow zone ranging from $27,800 to $27,300. Moving on to the 7-day chart, similar to the 1-month chart, there are no yellow zones above the price. Below the current price, there exists a yellow zone at $33,900.
Bitcoin Chart (Daily): Taking a closer look at the daily Bitcoin chart, we find ourselves within a weekly fair value gap and inside the premium range of the monthly chart. A daily swing failure pattern occurred last Thursday, and we are currently holding within the daily range. I will closely monitor how the market reacts at the 7-day Hyblock liquidation level of $33,900. If we do not see a reaction there and an internal market structure break indicated by the green line (MSB), I would consider shorting down towards the EQ and daily fair value gap.
Bitcoin Chart (H1): Shifting our focus to the H1 chart, following the surge last week, we are currently trading sideways at the top of the daily range. As mentioned earlier, we have cleared the high of the daily range. I will be closely observing the market to see if bearish order flow begins to dominate, indicating a potential downward movement. This could offer an earlier entry than waiting for the green line (MSB) to break.
Welcome to the Sunday Bitcoin & Hyblock Update!
Firstly, I’d like to apologise for the absence of the Sunday update last week due to work commitments. I got extremely busy, and unfortunately, I couldn’t manage to provide the update.
Hyblock Charts: Let’s begin by examining the 1-month chart, where there are no significant levels above the current price. However, below the price, there is a yellow zone ranging from $27,800 to $27,300. Moving on to the 7-day chart, similar to the 1-month chart, there are no yellow zones above the price. Below the current price, there exists a yellow zone at $33,900.
Bitcoin Chart (Daily): Taking a closer look at the daily Bitcoin chart, we find ourselves within a weekly fair value gap and inside the premium range of the monthly chart. A daily swing failure pattern occurred last Thursday, and we are currently holding within the daily range. I will closely monitor how the market reacts at the 7-day Hyblock liquidation level of $33,900. If we do not see a reaction there and an internal market structure break indicated by the green line (MSB), I would consider shorting down towards the EQ and daily fair value gap.
Bitcoin Chart (H1): Shifting our focus to the H1 chart, following the surge last week, we are currently trading sideways at the top of the daily range. As mentioned earlier, we have cleared the high of the daily range. I will be closely observing the market to see if bearish order flow begins to dominate, indicating a potential downward movement. This could offer an earlier entry than waiting for the green line (MSB) to break.
Weekly Economic Date
http://wisenode.media/news/weekly-economic-data-summary/
Wishing everyone a successful trading week ahead!