It's Sunday again, a sunny day if I want to be precise, so let's see where we are with the assets and pairs I'm charting each week.
On the monthly time frame, not much has changed since last week, if we don't count that $HIVE is trading at $0.0613, vs $0.0589 last week. We still have a bullish candle so far, but again, it's not closed yet, there are still 11 days to go. Not much to say here, previous analysis still valid.
On the weekly time frame, price managed to establish a local bottom at $0.0553 at the end of last month. This week, although the candle is not closed yet (closes in about 13 hours) so far price is above the weekly open and we have a bullish candle, with a long upside wick. Price had a nice move to the upside, but got sold out before it could sweep liquidity from the $0.0691 high.
The two levels to watch on this time frame are the high mentioned above, $0.0691 and the swing low, that is at $0.0553.
On the daily time frame, price is retesting the bullish gap left on the leg up, by the move on Thursday. There are around 13 hours to go till the candle close, but so far, we have an ugly, bearish engulfing candle. This gap has to hold price if we want bullish continuation.
In case the gap can hold price and we get a bounce here, the high I'd keep an eye on is at $0.0676. If the gap can't hold price, there are three lows to sweep, that are $0.0574, $0.0566 and $0.0553.
On the h4 time frame, price is slightly below mid-range, if I count my dealing range between $0.0574 and the swing high at $0.0669, retesting the bullish gap created on Thursday. It's the third time this gap is retested, so let's see if it holds. If not, there's another bullish gap below the current one, which it's possible to retest.
Levels to watch are marked on the chart.
$BTC has been trying to break out of this accumulation zone has been in since the drop in February and is nearing resistance, which is the bearish gap marked with yellow on the chart. I'd be cautious here. If we get a rejection, $70,417 could be next.
ETH/BTC, interesting situation here. Price swept liquidity from the previous swing high this week and created a new one at 0.0032055, but also got rejected. At the time of writing, chances to revisit and sweep liquidity from 0.0030317 is high in my opinion.
Next week we have one single red folder day, on Tuesday, the rest of the calendar is empty, but with the current geo-political situation and Trump saying a lot of things that can move the markets, but are not necessarily true, I'd be always cautious.
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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