BTC Update & Hyblock Heatmaps
There we are, 65k already hit, short fully closed. Tempo of PA is high after Bitcoin lost the key level.
Now we're in a serious move and have a close below the wedge, but the weekly support level is holding close wise so far.
This is the level I watch right now, and we can't see a weekly close below that. A bit chop is ok, and maybe even a daily close if it repairs fast.
But a weekly close below 65.7k would mean 50s or even 40s in a wick.
Not looking for longs yet. Just observing what scenario we get. Full breakdown or a bottoming phase? We will find an entry after we lean to one of the scenarios.
There we are, 65k already hit, short fully closed. Tempo of PA is high after Bitcoin lost the key level.
Now we're in a serious move and have a close below the wedge, but the weekly support level is holding close wise so far.
This is the level I watch right now, and we can't see a weekly close below that. A bit chop is ok, and maybe even a daily close if it repairs fast.
But a weekly close below 65.7k would mean 50s or even 40s in a wick.
Not looking for longs yet. Just observing what scenario we get. Full breakdown or a bottoming phase? We will find an entry after we lean to one of the scenarios.
Gm and happy Friday! ☕️
BTC Update & Hyblock Heatmaps
Still a bit of time left to save the weekly close. If not, we should soon have another high RR short entry ⏳
BTC Update & Hyblock Heatmaps
Still a bit of time left to save the weekly close. If not, we should soon have another high RR short entry ⏳
Gm and happy Saturday! ☕️
BTC Update & Hyblock Heatmaps
Bitcoin swept the February low as expected.
Now we need a bounce asap to form a new range for the next months.
Close weekly here = a continuation lower into low 50s is getting more likely.
BTC Update & Hyblock Heatmaps
Bitcoin swept the February low as expected.
Now we need a bounce asap to form a new range for the next months.
Close weekly here = a continuation lower into low 50s is getting more likely.
💯2
BTC Update & Hyblock Heatmaps
Bitcoin looking no bueno.
Happy to be wrong here and see this hold as a bottom with a sharp recovery.
But looking at this weekly candle, it's hard to argue for the bulls right now. To me this reads clearly lower: mid to low 50s over the coming weeks, with a new range forming here.
The good part: this could be the last period of pain over the next months before we get an early new bull phase...
Bitcoin looking no bueno.
Happy to be wrong here and see this hold as a bottom with a sharp recovery.
But looking at this weekly candle, it's hard to argue for the bulls right now. To me this reads clearly lower: mid to low 50s over the coming weeks, with a new range forming here.
The good part: this could be the last period of pain over the next months before we get an early new bull phase...
👍2
BTC Update & Hyblock Heatmaps
Bitcoin lost the local weekly support level and is back inside the 2024 range.
It tested 59k already twice as major weekly support level. This is my new level to watch.
Close weekly below: Prolonged time (months) in this range with potential wicks to 49k.
Hold 59k as support on a close basis: Form a bottom, but most likely needs some weeks and we should still see some wicks lower.
Short term we should see some upside to fill the huge imbalance of the last weekly candle. But that doesn't mean anything as long as BTC doesn't close waaay higher.
Have a great start into the new week and see you soon!
Bitcoin lost the local weekly support level and is back inside the 2024 range.
It tested 59k already twice as major weekly support level. This is my new level to watch.
Close weekly below: Prolonged time (months) in this range with potential wicks to 49k.
Hold 59k as support on a close basis: Form a bottom, but most likely needs some weeks and we should still see some wicks lower.
Short term we should see some upside to fill the huge imbalance of the last weekly candle. But that doesn't mean anything as long as BTC doesn't close waaay higher.
Have a great start into the new week and see you soon!
👍2