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Let's dive into the analysis of Bitcoin and other important crypto indices. As usual, I want to review the New York session's futures triggers for you.
⚡️ Yesterday, one of our triggers was activated, which I will mention in this analysis.
⏳ 1-Hour Timeframe
As you can see in the 1-hour timeframe, yesterday's trigger at 83979 was activated, and the candle closed above this level. However, it seems like the upward momentum ended there, and the price gradually started to move downward.
💫 The decline was due to the falling dominance of Bitcoin, which failed to continue its upward movement as dominance dropped.
✨ Currently, the price has returned below the 83979 level, which appears to be a fake-out. If the price stabilizes below this level, there is an increased likelihood that it will retest the 80105 support. The primary support is still at 77598.
🔽 For a short position, with the activation of the fake-out trigger of 83979 in lower timeframes, you can enter a position. Other triggers like breaking 80105 may not occur today since it's Saturday and the market doesn't have enough volume to make significant moves.
📈 For long positions, keep in mind that there is a resistance area from 83979 to 84817. The price must break out of this range, so until a new structure is formed to give a precise resistance figure, the long trigger will be 84817.
👑 BTC.D Analysis
Let's move on to the analysis of Bitcoin dominance. As observed, dominance corrected to the 62 area yesterday and is now moving downward again.
🎲 Currently, the 61.53 zone is critical, and breaking this could lead Bitcoin's price towards 61.08.
✔️ I currently see the momentum of dominance as bearish, so if the market is giving long positions, I prefer to open them on altcoins.
📅 Total2 Analysis
Moving on to the Total2 analysis, yesterday's trigger at 1.01 was activated simultaneously with the break of 83979 in Bitcoin. Given the drop in Bitcoin dominance, altcoins moved higher and offered better positions.
📊 For today, the long trigger for Total2 is at the 1.04 area. As for short positions, since I see the Bitcoin dominance as declining, I prefer to open shorts on Bitcoin. However, you can also open short positions on altcoins with the Bitcoin trigger.
📅 USDT.D Analysis
Let's look at the USDT.D analysis. Yesterday's upward move in dominance was a fake-out, and it returned below 5.49 with a bearish momentum that broke the floor at 5.33 and stopped at 5.28.
⭐ Currently, a very small range box has formed from 5.28 to 5.33, and breaking any of these areas could define the next leg of dominance and its short-term trend.
❌ 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 dive into the analysis of Bitcoin and other important crypto indices. As usual, I want to review the New York session's futures triggers for you.
⚡️ Yesterday, one of our triggers was activated, which I will mention in this analysis.
⏳ 1-Hour Timeframe
As you can see in the 1-hour timeframe, yesterday's trigger at 83979 was activated, and the candle closed above this level. However, it seems like the upward momentum ended there, and the price gradually started to move downward.
💫 The decline was due to the falling dominance of Bitcoin, which failed to continue its upward movement as dominance dropped.
✨ Currently, the price has returned below the 83979 level, which appears to be a fake-out. If the price stabilizes below this level, there is an increased likelihood that it will retest the 80105 support. The primary support is still at 77598.
🔽 For a short position, with the activation of the fake-out trigger of 83979 in lower timeframes, you can enter a position. Other triggers like breaking 80105 may not occur today since it's Saturday and the market doesn't have enough volume to make significant moves.
📈 For long positions, keep in mind that there is a resistance area from 83979 to 84817. The price must break out of this range, so until a new structure is formed to give a precise resistance figure, the long trigger will be 84817.
👑 BTC.D Analysis
Let's move on to the analysis of Bitcoin dominance. As observed, dominance corrected to the 62 area yesterday and is now moving downward again.
🎲 Currently, the 61.53 zone is critical, and breaking this could lead Bitcoin's price towards 61.08.
✔️ I currently see the momentum of dominance as bearish, so if the market is giving long positions, I prefer to open them on altcoins.
📅 Total2 Analysis
Moving on to the Total2 analysis, yesterday's trigger at 1.01 was activated simultaneously with the break of 83979 in Bitcoin. Given the drop in Bitcoin dominance, altcoins moved higher and offered better positions.
📊 For today, the long trigger for Total2 is at the 1.04 area. As for short positions, since I see the Bitcoin dominance as declining, I prefer to open shorts on Bitcoin. However, you can also open short positions on altcoins with the Bitcoin trigger.
📅 USDT.D Analysis
Let's look at the USDT.D analysis. Yesterday's upward move in dominance was a fake-out, and it returned below 5.49 with a bearish momentum that broke the floor at 5.33 and stopped at 5.28.
⭐ Currently, a very small range box has formed from 5.28 to 5.33, and breaking any of these areas could define the next leg of dominance and its short-term trend.
❌ 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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💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 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!
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 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.