It's Sunday again legends, so let's see what we got so far on $HIVE $BTC and ETH/BTC and get a gameplay for next week.
We're getting closer to the end of the month, but there's still 9 days to go till the candle close. So far, at the time of writing, the current monthly candle is a doji.
But if I zoom in, you can see we're under the monthly open. There's not much to speculate here though. If we get a bounce here, $0.2821 is the level I'd watch and $0.1757 if there's more weakness.
On the weekly time frame, price is about to print a bearish engulfing candle, if the current candle closes under $0.1985. Price looks heavy, so at this point sweeping $0.1916 looks highly likely. If we don't get a bounce at that level, then I'd keep my eyes on $0.1757.
In case of a reversal at some point, I'd be watching $0.2151, which becomes the swing high, after the current candle closes, which is going to happen in roughly 11 hours. In case of momentum, the next swing high is $0.2327.
On the daily time frame, price got rejected by the bearish gap and fell below mid-range. At the time of writing, price is retesting the 0.75 level, a good area to bounce, but it's Sunday afternoon, so I wouldn't expect much today.
Three levels I'm watching right now, which are $0.1956 and $0.1916 on the downside and $0.2077, id we get a bounce and price manages to close above the gap.
On the h4 time frame, price is at a very important level. It is retesting the bullish gap, that has been holding price since the beginning of September and it is the 0.75 level as well. The gap is fully rebalanced, there's no liquidity left there anymore, but it has to hold, if we want a bounce. Lose this level and we could revisit $0.1956, $0.1945 and $0.1916.
On the upside, if we get a reversal at some point, we have a bearish gap between $0.2033 and $0.2042, which is going to act as resistance, but once closed above, $0.2077 is the swing high to watch.
$BTC is consolidating below mid-range at the moment. $114,316 is the swing low I'd have my eyes on and if we get a bounce off that level, then mid-range is next and $117,884. I'd like to see price turn mid-range into support and then we can have a new ATH.
ETH/BTC is still consolidating inside the bullish gap and will need a bit more time it seems.
Next week we have three red folder days, Monday and Wednesday is free, bot on the other days I'd expect some volatility, so be careful.
I'm usually posting updates on Snaps, keep an eye on it, if you're interested.
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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