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
BTC Update & Hyblock Heatmaps
Bitcoin longterm levels in the chart. I think we will see low 50s over the next weeks.
More than happy to be wrong, but imho BTC will retrace more before finding a bottom.
Bounces = short opportunities.
Bitcoin longterm levels in the chart. I think we will see low 50s over the next weeks.
More than happy to be wrong, but imho BTC will retrace more before finding a bottom.
Bounces = short opportunities.
Forming a bottom in BTC is a process that takes time.
First comes a series of capitulation events, then a period of consolidation, and only after that does the market begin a new rally.
According to several indicators, BTC is only starting to enter the zone where the bottoming process has historically begun. However, it is still too early to call an actual market bottom.
First comes a series of capitulation events, then a period of consolidation, and only after that does the market begin a new rally.
According to several indicators, BTC is only starting to enter the zone where the bottoming process has historically begun. However, it is still too early to call an actual market bottom.
Gm and happy Friday! ☕️
BTC Update & Hyblock Heatmaps
Bitcoin bouncing a bit as expected, waiting for the reaction at 65.7k 👀
BTC Update & Hyblock Heatmaps
Bitcoin bouncing a bit as expected, waiting for the reaction at 65.7k 👀
BTC Update & Hyblock Heatmaps
Bitcoin is exactly at the level I expected it to go. 65.7k is the line in the sand:
Reject here and I would read this as bearish confirmation and short entry.
Reclaim this level as support and I would read the wicks to 59k as a sweep of the low before we go into the 70s-range again.
Plan is ready, now we wait for execution. Have a great start into the week and see you soon!
Bitcoin is exactly at the level I expected it to go. 65.7k is the line in the sand:
Reject here and I would read this as bearish confirmation and short entry.
Reclaim this level as support and I would read the wicks to 59k as a sweep of the low before we go into the 70s-range again.
Plan is ready, now we wait for execution. Have a great start into the week and see you soon!