Yesterday I had to skip my analysis as we had a family day and got home late, but here I am today, bringing it to you, so let's see what these three assets/pairs have been doing lately. It's not a bad thing I'm late one day, because we at least have the weekly candle closed. Ok, let's get to it.
Just a few words about the monthly time frame as we're not even mid month, but so far we have a bullish candle, with a small lower shadow (wick). We can't decide anything till the candle close (20 days to go), but it's a good sign so far. Previous analysis on a monthly time frame still valid, you can check it.
On the weekly time frame, we're talking about the candle closed yesterday, which is a bullish candle, which closed below the weekly order block (OB). For bullish continuation, price needs to get back above the OB, then the relative equal highs are next at $0.2844, then the already well known level of $0.3006.
In case price shows weakness, the levels I'd watch are $0.2049 and $0.1757.
This is how the daily chart looks like. It's complex, but I'm going to drop another one, a simplified one, focusing on recency, to let you know what we can expect in the near future.
Compared to last week, we got a nice expansion to the upside, but on the way up, price created a bullish gap, marked with green on the chart and which has not been retested yet. At the time of writing, price is starting to show a bit of weakness, but nothing to be alarmed about so far, bullish trend is still intact.
I'd expect price to dip into the bullish gap (green), rebalance it and bounce, in which case, coupled with the necessary momentum, I'd be looking for price to sweep $0.2334 and if there's enough buying pressure to keep price going, then rebablance and invert the bearish gap, marked with yellow, then sweep $0.2465.
In case the bullish gap (green) can't defend price, levels I'm looking at on the downside are $0.2072, $0.2049, or in case of weakness, $0.193.
On a more granular scale, on the h4 chart, price has just swept liquidity from $0.2215 level and about to confirm a bearish OB, and dipped into the slim bullish gap below. If we don't get a bounce there, $0.217 is next to be swept. If that gap can't hold price, the next level I'd be looking at is $0.2127, then $0.2072 and ultimately $0.2049.
In case we get a bounce at this level, levels on the upside I'm looking at are $0.2289 and $0.2304, which are equal highs, then $0.2334.
$BTC on the daily time frame has just swept liquidity from $121,044 level, got close to the current ATH, but there was not enough buying pressure or the selling pressure was too high to keep price at that level. Nothing is lost yet as there's still half a day till the current candle close.
In case of weakness, price could retest the OB, sweep liquidity from the $116,288 level and maybe touch the slim bullish gap, marked with green. If we get another push to the upside, the current ATH could be swept and we could get a new ATH. Time will tell.
Last week $ETH/BTH managed to break above resistance and turned it into support, but rejected before it could sweep 0.037356. No reason for concern, there are two bullish gaps left on the leg up, so I suspect price is going to retest those.
This week we are going to have 4 red folder days, only today is free. It's going to be a volatile week as we have important data announcements.
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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