Let’s examine the H12 and H1 BTC charts, as well as the Hyblock 7-day and 3-month charts for our update.
Starting with the Hyblock charts, the 7-day chart continues to indicate a significant liquidation level around $27,800. It appears that we may still be heading towards this level before a potential downward movement. On the 3-month chart, we are observing increasingly substantial levels around the $25,400 area. These levels have caught my attention for the past week and remain of great interest.
Shifting our focus to the BTC chart, the H12 chart hasn’t exhibited notable price action recently. We have been trading within a range for the past week or so. This range-bound behavior suggests that once we experience a breakout, there could be a swift and decisive move in either direction. Considering the prevailing bearish market structure, my inclination is towards a downside movement, targeting the lower end of the H12 range and potentially breaching the 3-month Hyblock level at $25,400.
Examining the H1 chart, there is a clear pattern of lower highs and lower lows over the past week. This consistent downward progression provides additional confluence in support of the idea that we may be heading towards lower levels.
Sunday BTC & Hyblock Update
Let’s examine the H12 and H1 BTC charts, as well as the Hyblock 7-day and 3-month charts for our update.
Starting with the Hyblock charts, the 7-day chart continues to indicate a significant liquidation level around $27,800. It appears that we may still be heading towards this level before a potential downward movement. On the 3-month chart, we are observing increasingly substantial levels around the $25,400 area. These levels have caught my attention for the past week and remain of great interest.
Shifting our focus to the BTC chart, the H12 chart hasn’t exhibited notable price action recently. We have been trading within a range for the past week or so. This range-bound behavior suggests that once we experience a breakout, there could be a swift and decisive move in either direction. Considering the prevailing bearish market structure, my inclination is towards a downside movement, targeting the lower end of the H12 range and potentially breaching the 3-month Hyblock level at $25,400.
Examining the H1 chart, there is a clear pattern of lower highs and lower lows over the past week. This consistent downward progression provides additional confluence in support of the idea that we may be heading towards lower levels.