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Let's delve into the analysis of Bitcoin and key crypto indices. As usual, I will review the New York futures session triggers for you.
⚡️ The market has experienced a drop since yesterday, and I had identified the triggers for this drop in the previous analysis. Let's analyze today to see what we can do in the market.
⏳ 1-Hour Timeframe
In the 1-hour timeframe, as you can see, the price made a downward move after the triggers at 82633 and 81473 were activated, even breaking the important support at 79120 and now has rebounded from the area of 74760.
✔️ If we draw a Fibonacci from this downward leg, we can find potential resistance levels. A few moments ago, there was also a fake news report from Trump stating that he would give 90 days to all countries except China to start tariffs, which, although fake, had a significant impact on the market.
📊 The market volume is very low, which makes it susceptible to such short and small news about tariffs to react this way.
📰 If such news continues and the market acts emotionally, the technical analysis I perform for you will not be very reliable, and the price will move more emotionally.
🔼 However, if these emotional moves end and the price stabilizes in these areas, the potential resistances we have are the Fibonacci levels of 0.5, 0.618, and 0.786, where the 0.5 and 0.786 areas overlap with static price resistances, and the 0.618 area, being the golden Fibonacci, could prevent further price drops.
💥 The RSI oscillator, after a sharp fall and being mostly in Oversell yesterday, has finally exited this area and now reached around 50. If this area is broken in the RSI, the likelihood of a deeper correction will increase.
📉 Today, for a short position, we only have the break of the 74760 area, which I also suggest not opening a position with this trigger because the market has recently moved and needs to create a new structure.
📈 For long positions, according to the strategy I have, it does not make sense for me to open a position in this trend that has so much downward momentum. The best analogy is that when a knife is falling, you shouldn't try to catch it mid-air because it might cut your hand; you should wait for it to fall to the ground so you can pick it up safely without risk.
Let's look at the indices to take a look at the situation with altcoins.
👑 BTC.D Analysis
Bitcoin dominance has made another upward move after breaking 63.07. This caused altcoins to fall more than Bitcoin during this drop, and short positions on altcoins would have given us more profit compared to Bitcoin.
🚀 In the analyses of Bitcoin and altcoins, I've repeatedly told you that for buying altcoins, we should wait until Bitcoin dominance starts to drop. That hasn't happened yet, and it still has a strong upward trend, so today if the market gives a short trigger, altcoins would be more logical.
📅 Total2 Analysis
As you can see, this index has fallen much more than Bitcoin, experiencing a very sharp downward leg upon activating the trigger at 965.
⭐ Currently, I've only added the 949 line to the chart, which overlaps with the 0.786 Fibonacci of this downward leg, and I haven't added any other lines and am waiting for the price to create its structure.
✨ The nearest support the price has is 816, which is very important, and there is nothing else notable about Total2 yet, and we need to wait until a structure is created that can be analyzed.
🎲 The only opinion I can give for now is that the 816 area is very important, and reaching this area in Total2 could end its downward trend, which is more like a prediction than an analysis and is a gut feeling and currently has no logical reason.
📅 USDT.D Analysis
Let's move on to the analysis of Tether dominance, which is very similar to Total2 but seems like a reverse of it.
👀 Yesterday, the trigger at 5.53 activated simultaneously with 965 in Total2, and the dominance moved upward. There's not much I can analyze about this chart, and the main resistance is in the area of 6.34, which acts like the 816 in Total2.
❌ 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 delve into the analysis of Bitcoin and key crypto indices. As usual, I will review the New York futures session triggers for you.
⚡️ The market has experienced a drop since yesterday, and I had identified the triggers for this drop in the previous analysis. Let's analyze today to see what we can do in the market.
⏳ 1-Hour Timeframe
In the 1-hour timeframe, as you can see, the price made a downward move after the triggers at 82633 and 81473 were activated, even breaking the important support at 79120 and now has rebounded from the area of 74760.
✔️ If we draw a Fibonacci from this downward leg, we can find potential resistance levels. A few moments ago, there was also a fake news report from Trump stating that he would give 90 days to all countries except China to start tariffs, which, although fake, had a significant impact on the market.
📊 The market volume is very low, which makes it susceptible to such short and small news about tariffs to react this way.
📰 If such news continues and the market acts emotionally, the technical analysis I perform for you will not be very reliable, and the price will move more emotionally.
🔼 However, if these emotional moves end and the price stabilizes in these areas, the potential resistances we have are the Fibonacci levels of 0.5, 0.618, and 0.786, where the 0.5 and 0.786 areas overlap with static price resistances, and the 0.618 area, being the golden Fibonacci, could prevent further price drops.
💥 The RSI oscillator, after a sharp fall and being mostly in Oversell yesterday, has finally exited this area and now reached around 50. If this area is broken in the RSI, the likelihood of a deeper correction will increase.
📉 Today, for a short position, we only have the break of the 74760 area, which I also suggest not opening a position with this trigger because the market has recently moved and needs to create a new structure.
📈 For long positions, according to the strategy I have, it does not make sense for me to open a position in this trend that has so much downward momentum. The best analogy is that when a knife is falling, you shouldn't try to catch it mid-air because it might cut your hand; you should wait for it to fall to the ground so you can pick it up safely without risk.
Let's look at the indices to take a look at the situation with altcoins.
👑 BTC.D Analysis
Bitcoin dominance has made another upward move after breaking 63.07. This caused altcoins to fall more than Bitcoin during this drop, and short positions on altcoins would have given us more profit compared to Bitcoin.
🚀 In the analyses of Bitcoin and altcoins, I've repeatedly told you that for buying altcoins, we should wait until Bitcoin dominance starts to drop. That hasn't happened yet, and it still has a strong upward trend, so today if the market gives a short trigger, altcoins would be more logical.
📅 Total2 Analysis
As you can see, this index has fallen much more than Bitcoin, experiencing a very sharp downward leg upon activating the trigger at 965.
⭐ Currently, I've only added the 949 line to the chart, which overlaps with the 0.786 Fibonacci of this downward leg, and I haven't added any other lines and am waiting for the price to create its structure.
✨ The nearest support the price has is 816, which is very important, and there is nothing else notable about Total2 yet, and we need to wait until a structure is created that can be analyzed.
🎲 The only opinion I can give for now is that the 816 area is very important, and reaching this area in Total2 could end its downward trend, which is more like a prediction than an analysis and is a gut feeling and currently has no logical reason.
📅 USDT.D Analysis
Let's move on to the analysis of Tether dominance, which is very similar to Total2 but seems like a reverse of it.
👀 Yesterday, the trigger at 5.53 activated simultaneously with 965 in Total2, and the dominance moved upward. There's not much I can analyze about this chart, and the main resistance is in the area of 6.34, which acts like the 816 in Total2.
❌ 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.