It's Sunday again, so let's see where we are with our assets and pairs and see what we can expect next week, as we do every Sunday.
On the monthly time frame, price is still above the monthly open, which means a bullish candle. There are 13 days left, till the candle close, so we have to wait to see the nature of the first candle of the year. Previous analysis referring to the monthly time frame is still valid.
On the weekly time frame, this week price had a less spectacular evolution. There are still roughly 10 hours till the candle close, but it looks like we are going to get a doji, which means a candle with a small, or non existent body, or in plain English, the weekly price closes where it opened.
In order to set a bullish order block (OB), that would potentially mean continuation to the upside, price needs to close above the red line ($0.1072). Levels to watch are $0.1214 on the upside and the swing low at $0.0835 on the downside, if we get rejection here and weakness.
On the daily time frame, $HIVE has been consolidating in a range I could say, since the 8th of January. At the time of writing, price is about to retest the bullish order block (OB), which has been holding so far. It's a bit tricky here as it's Sunday, tomorrow Wall Street is closed, so we, most likely won't see significant moves until Tuesday, unless something happens on geopolitical level.
Anyway, immediate levels to watch right now are $0.113 on the upside, which is the current swing high and once swept, $0.1214 could be next (if there's enough momentum). If the OB can't defend price, then $0.1021 is the next level to watch, which is relative equal low (EQL) as well. If we don't get a reversal at that level and there's weakness in the market, then the retest of the bullish gap below, at $0.0947 could be next.
The h4 time frame also shows the consolidation (sideways price action) I mentioned at the daily time frame. At the time of writing, price is below the bearish gap (marked with yellow on my chart) and slightly below the bearish OB as well.
For bullish continuation, price needs to close above the gap, invert it and hold. If that happens, the swing high at $0.1084 is the next level I'm looking at, after which could come $0.1106 (EQH) and the other levels marked on the chart.
If price can't stay above the OB, I'm looking at $0.1045 to be swept and potentially $0.1021, if the re's more weakness.
BTC had a nice move to the upside this week, but got rejected at the bearish gap, after absorbing liquidity from it. At the time of writing, $BTC is between a bullish and a bearish gap, above the bullish OB. Sweep of $94,241 and a retest of the bullish gap (green on my chart) would be a healthy move, before we reverse and move to the upside, but it the bullish gap can't hold price, the $89,262 and a retest of the yearly open is possible.
ETH/BTC has bounced around mid-range and it is on its way to sweep the (almost) equal high at 0.035257, that I mentioned in my last week's analysis, which is resistance actually, due to the bearish gap. To have bullish continuation, price needs to invert that gap and hold.
Next week we have 3 red folder days and tomorrow it's a bank holiday, so Wall Street is closed. Most likely Monday is going to be a slow day, but I'd be careful on the rest of the days.
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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