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Let’s go over the analysis of Bitcoin and the key crypto indexes. As usual, in this analysis I’m going to review the futures triggers for the New York session.
⏳ 1-Hour Timeframe
Yesterday, the price broke out of the range box between 108619 and 110256 that I had marked for you, and with the heavy selling volume that entered the market, this bearish move took place.
✔️ This move continued to the 107448 zone, and as you can see, we are now in a consolidation and rest phase, and once again the volume has dropped significantly.
✨ As I mentioned in yesterday’s analysis, I believe this low volume will persist through the weekend, and for a solid move to happen, we’ll need to wait for the new week to begin.
💥 For now, the price has room to move up to 108619 and perform a retracement. A break above the 50 zone on the RSI greatly increases the likelihood of this move.
📊 If selling volume re-enters the market and the price moves downward, the short trigger we have is the 107448 level, and breaking it could start the next bearish leg.
📈 For a long position, the price must first stabilize above 108619, and then, if we see that buying volume continues and increases, we can enter a long position. The main trigger will be 110256.
⭐ I myself won’t be opening any positions for now and will wait until the market shows some proper volume and trend before entering. If you plan to open a position based on these triggers, I suggest you take on very little risk so that in case your stop-loss is hit, you don’t lose much money.
👑 BTC.D Analysis
Let’s look at Bitcoin dominance. Yesterday, dominance touched the trendline I had marked and is still dealing with this dynamic resistance.
💫 A bottom has formed at 65.38. If this bottom is broken, we’ll get confirmation of rejection from the trendline, and dominance could have a bearish move down to 65.04.
⚡️ If the trendline is broken instead, we’ll have a new trigger at 65.52, and breaking it would confirm a bullish reversal in dominance. The main trigger will still be a break of 65.64.
📅 Total2 Analysis
Now let’s move on to Total2. This index dropped to the 1.13 zone and has now pulled back to 1.14. It seems like it’s getting ready for another downward move.
☘️ If Bitcoin dominance gets rejected from the trendline and moves down, and if Bitcoin moves upward, Total2 could make a very sharp move.
🔑 Even if Bitcoin drops, Total2 might range or even move up. For now, our short trigger is 1.13, and aside from 1.14, we don’t have any specific long trigger.
📅 USDT.D Analysis
Finally, let’s look at Tether dominance. This index made a bullish move to 4.85 after breaking 4.78 and is now in a corrective phase.
📊 If 4.85 is broken, the next bullish leg could continue up to 4.93. If a correction happens, dominance might pull back to 4.78.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
Let’s go over the analysis of Bitcoin and the key crypto indexes. As usual, in this analysis I’m going to review the futures triggers for the New York session.
⏳ 1-Hour Timeframe
Yesterday, the price broke out of the range box between 108619 and 110256 that I had marked for you, and with the heavy selling volume that entered the market, this bearish move took place.
✔️ This move continued to the 107448 zone, and as you can see, we are now in a consolidation and rest phase, and once again the volume has dropped significantly.
✨ As I mentioned in yesterday’s analysis, I believe this low volume will persist through the weekend, and for a solid move to happen, we’ll need to wait for the new week to begin.
💥 For now, the price has room to move up to 108619 and perform a retracement. A break above the 50 zone on the RSI greatly increases the likelihood of this move.
📊 If selling volume re-enters the market and the price moves downward, the short trigger we have is the 107448 level, and breaking it could start the next bearish leg.
📈 For a long position, the price must first stabilize above 108619, and then, if we see that buying volume continues and increases, we can enter a long position. The main trigger will be 110256.
⭐ I myself won’t be opening any positions for now and will wait until the market shows some proper volume and trend before entering. If you plan to open a position based on these triggers, I suggest you take on very little risk so that in case your stop-loss is hit, you don’t lose much money.
👑 BTC.D Analysis
Let’s look at Bitcoin dominance. Yesterday, dominance touched the trendline I had marked and is still dealing with this dynamic resistance.
💫 A bottom has formed at 65.38. If this bottom is broken, we’ll get confirmation of rejection from the trendline, and dominance could have a bearish move down to 65.04.
⚡️ If the trendline is broken instead, we’ll have a new trigger at 65.52, and breaking it would confirm a bullish reversal in dominance. The main trigger will still be a break of 65.64.
📅 Total2 Analysis
Now let’s move on to Total2. This index dropped to the 1.13 zone and has now pulled back to 1.14. It seems like it’s getting ready for another downward move.
☘️ If Bitcoin dominance gets rejected from the trendline and moves down, and if Bitcoin moves upward, Total2 could make a very sharp move.
🔑 Even if Bitcoin drops, Total2 might range or even move up. For now, our short trigger is 1.13, and aside from 1.14, we don’t have any specific long trigger.
📅 USDT.D Analysis
Finally, let’s look at Tether dominance. This index made a bullish move to 4.85 after breaking 4.78 and is now in a corrective phase.
📊 If 4.85 is broken, the next bullish leg could continue up to 4.93. If a correction happens, dominance might pull back to 4.78.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
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🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Related publications
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.
💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Related publications
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.