HYPE is currently set to target lower price levels on a higher timeframe (HTF), seeking out a demand zones where strong buying interest is expected.
On the 5-minute (M5) chart liquidity is building up, with Equal Highs forming. On the 15-minute (M15) chart, a supply zone is acting as resistance, likely pushing prices lower.
The likely outcome is that the price will move up to sweep liquidity on the M5, and then starts its move down triggering a Market Structure Shift (MSS). This shift would confirm the start of a broader downward move toward the HTF demand zone, where buyers may step in to support the price.
On the 5-minute (M5) chart liquidity is building up, with Equal Highs forming. On the 15-minute (M15) chart, a supply zone is acting as resistance, likely pushing prices lower.
The likely outcome is that the price will move up to sweep liquidity on the M5, and then starts its move down triggering a Market Structure Shift (MSS). This shift would confirm the start of a broader downward move toward the HTF demand zone, where buyers may step in to support the price.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.