I’m looking at $HYPE now and the potential bottom.
The level is definitely interesting, but it’s important to understand that for now we’re just interacting with the weekly fractal around 29.35$.
Liquidity has been taken from it, but that alone doesn’t confirm anything yet.
If the week had closed green, meaning above the opening level, roughly above 29.7$, then we could talk about a more confident local reversal.
The first serious problematic zone above is 31.50$. If the market can break through it and hold, then we could really start considering the scenario that this was a local bottom.
But I would still give the price one more week to see confirmation.
If things develop favorably, the logical upside target is around 38$ this is the nearest significant area above where the market could return during a normal recovery structure.
That’s roughly how I see the situation right now.
n my view, Bitcoin has established a trading range, with the midpoint sitting around $93,000. The most important upside trigger for me right now is the $97,000 to $98,000 zone.
That is the key area where the whole conversation changes.
From there, we have basically moved into large monthly and weekly FVGs, so what matters to me now is not just the level itself, but how the market behaves inside this area. I want to see weekly candle formations, weekly combinations, weekly confirmation.
The irony is that we are chasing an ever-narrowing window of hope.
First, we traded on headlines of 'ending the war,' then it was 'a ceasefire.' After that, we traded on the hope of a partial, temporary opening of the SoH, and then we were reduced to hoping for just a single round of negotiations.
Now, we are trading on the expectation that the maritime blockade will be lifted—just so that a single meeting can even take place. As the focus narrows, it drifts further away from the truth and any fundamental change.
Yet, we have become more obsessively fixated on these increasingly meaningless details. Looking back, it was almost better two weeks ago when the market reacted to the nonsense of 'a new era of peace.' At least that felt like change.
Now, we are further from that than ever, yet trapped in an obsession with the trivial. They have done a masterful job of blurring the essence of the situation.
#oott #iran