We are nearing the month end, which is going to happen on Thursday next week, so let's see where we are today with the assets and pairs I'm charting each Sunday.
On the monthly time frame, so far $HIVE is trading above the monthly open, which means we have a bullish candle. Let's see the current candle close next week and then take it from there. If we close above the monthly open, there's a chance we get a bottom here, but too early to tell. Previous analysis on this time frame is still valid.
The weekly chart looks promising. The current candle closes in about 15 hours, so we have to wait till then, but so far we have a bullish candle. Two levels to watch are the current swing low at $0.0553, in case we get weakness in the market, but if the nice momentum we have here continues, the next high to sweep would be at $0.0691.
On the daily time frame, price retested the bullish gap created on the 15th of April, several times, which was able to hold price. At the time of writing, price is approaching mid-range. If the bullish momentum continues, the next high to be swept is at $0.0669. If we get a rejection here, it's possible for price to revisit the gap and if the gap is not able to defend price anymore, then I'm looking at the current swing low to be swept, which is at $0.0597.
The h4 time frame is pretty much the same as the daily time frame this time, so the levels to watch are the ones I mentioned above.
$BTC made some progress this week and it is accumulating under resistance, which in this case is the bearish gap marked with yellow on my chart. It's Sunday, so there's not much happening today, no major news to drive price in any direction, but still, levels to watch are the current swing low, which is at $79,423, which is also the bottom of the bearish fair value gap.
If we get a rejection at some point, retesting the bullish gap below, marked with green is still a possible scenario.
ETH/BTC, as last week I said, chances to revisit and sweep liquidity from 0.0030317 were high and happened. Price swept liquidity from 0.029727, is below mid-range and is retesting the bullish gap as we speak. For bullish continuation, price needs to get back above mid-range and invert the bearish gap created on Thursday this week. If weakness continues, the next low to be swept is the equal low (EQL) at 0.028779.
Next week we have two red folder days, FOMC statement among others, so be careful with risk.
Remember, technical analysis is not about forecasting price, but about reacting to what price does.
As always, this is a game of probabilities, not certainties. Also please note, this is not financial advice, it's my view and understanding of the market.
All charts posted here are screenshots from Tradinview.
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