📈 Bitcoin at Key Pivot: Reversal in Progress or Range Ahead? (Price Action + Dominance Strategy)
After a corrective move, Bitcoin (BTC) now appears to be exiting the pullback phase sooner than expected.
A confirmed breakout above $106,492 would likely invalidate the previous downtrend and suggest bullish continuation. Notably, we saw a volume surge near this level, reinforcing the breakout signal.
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📊 Possible Scenarios:
1. Bullish Continuation:
📍 Entry: On 4H or daily candle close above $106,492
🛡️ Stop-loss: $104,949
📈 Upside Range: Potential resistance near $110,173.43
2. Failed Breakout / Short Opportunity:
❌ If price fails to reclaim $106,492 and breaks below $103,834,
🔻 This opens a short setup.
Important: Before opening a short, check BTC Dominance:
If dominance is rising, favor altcoin shorts
If dominance is falling, short BTC directly
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🧠 Dominance Strategy for Longs:
If BTC dominance is increasing, go long on BTC
If BTC dominance is decreasing, favor altcoin longs
Two altcoins with strong setups: AAVE and APE (see earlier posts for details)
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📌 Range Possibility:
If neither breakout nor breakdown occurs, BTC may range between $101,638.45 and $110,173.43 in the short term — trade accordingly.
After a corrective move, Bitcoin (BTC) now appears to be exiting the pullback phase sooner than expected.
A confirmed breakout above $106,492 would likely invalidate the previous downtrend and suggest bullish continuation. Notably, we saw a volume surge near this level, reinforcing the breakout signal.
---
📊 Possible Scenarios:
1. Bullish Continuation:
📍 Entry: On 4H or daily candle close above $106,492
🛡️ Stop-loss: $104,949
📈 Upside Range: Potential resistance near $110,173.43
2. Failed Breakout / Short Opportunity:
❌ If price fails to reclaim $106,492 and breaks below $103,834,
🔻 This opens a short setup.
Important: Before opening a short, check BTC Dominance:
If dominance is rising, favor altcoin shorts
If dominance is falling, short BTC directly
---
🧠 Dominance Strategy for Longs:
If BTC dominance is increasing, go long on BTC
If BTC dominance is decreasing, favor altcoin longs
Two altcoins with strong setups: AAVE and APE (see earlier posts for details)
---
📌 Range Possibility:
If neither breakout nor breakdown occurs, BTC may range between $101,638.45 and $110,173.43 in the short term — trade accordingly.
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.
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.