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Let's delve into the analysis of Bitcoin and key crypto indices, focusing today on the New York futures session triggers as usual.
🔄 Yesterday, the market was in a corrective phase of a downward trend, coinciding with news about the date of a meeting between Iran and the USA, which caused a slight upward movement in the market.
📊 As I mentioned, due to the low market volume, any news from the USA can significantly impact the price. The news was that Iran and the USA have scheduled a meeting for Saturday to negotiate an agreement.
📰 However, a more significant news item that the whole world is waiting for is China's reaction to the 35% tariffs imposed by the USA. Trump has declared that if China does not accept these tariffs within the next few days, he will increase them to 50%.
🎲 If this happens, the next downward leg in price might begin. However, if news comes out that these two countries are nearing an agreement and are ready to negotiate tariffs, the market will undoubtedly move upwards, and this news could even be the start of a new bullish trend.
Let's move on to the chart to find the technical triggers.
⏳ 1-Hour Timeframe
As I said yesterday, with the breaking of the 50 area in the RSI, the price underwent a deeper correction and moved upwards.
⭐ It appears that an ascending structure is forming, and the price is steadily moving upwards. However, this movement doesn't have much upward momentum, and its volume isn't very high.
🔽 Today, for a short position, we can open a position in line with the trend at a high risk with the break of the 78913 area. The price has corrected to a reasonable extent and has pulled back near the SMA99. If the price moves towards this SMA and gets rejected, the importance of breaking 78913 will increase.
📉 The main trigger is currently the 74760 area, which is the market's primary floor. However, in general, I believe that the market structure isn't yet in a state where we should open major positions, and we should wait for more structure to form. This way, we can open more secure and precise positions, which would allow us to take higher risks and ultimately make more profit.
💫 If you want to open a short position with the break of 78913, the RSI moving below the 50 area could be a good confirmation, but be careful not to involve too much risk.
👑 BTC.D Analysis
Let's move to the analysis of Bitcoin dominance, which is still ascending and has created a temporary support floor at 63.30. If this area breaks, we might temporarily confirm a decline in dominance.
🚀 Keep in mind that the dominance trend is bullish in all market cycles, and breaking this area does not mean a bearish trend. However, if it breaks 63.30, dominance might pull back to 63.07 and could enter a correction phase for a few days, which would impact our position choices.
✔️ If dominance is supported from this area, the likelihood of its continued growth increases.
📅 Total2 Analysis
Moving on to the analysis of Total2, as you can see, with the slight correction of Bitcoin dominance, this index has performed slightly better than Bitcoin and has currently reached a similar peak at 920.
📉 The short trigger I gave on Bitcoin at 78913 is a better trigger compared to Total2, where the 896 area has not yet been tested and is riskier than Bitcoin.
🔼 For long positions, you can open one with the break of 920, but I do not recommend it because the market is in a downward trend, and there is a downward momentum in the market, and since I do not trade against the trend, I also do not recommend that you take a long position against the downward trend.
📅 USDT.D Analysis
Finally, the analysis of Tether dominance is performing similarly to Total2 and is currently fluctuating between 5.73 and 5.84.
✨ Both of these areas could be used as triggers, but as I mentioned, it's better to wait for the market to create more structure and reveal the main triggers.
❌ 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, focusing today on the New York futures session triggers as usual.
🔄 Yesterday, the market was in a corrective phase of a downward trend, coinciding with news about the date of a meeting between Iran and the USA, which caused a slight upward movement in the market.
📊 As I mentioned, due to the low market volume, any news from the USA can significantly impact the price. The news was that Iran and the USA have scheduled a meeting for Saturday to negotiate an agreement.
📰 However, a more significant news item that the whole world is waiting for is China's reaction to the 35% tariffs imposed by the USA. Trump has declared that if China does not accept these tariffs within the next few days, he will increase them to 50%.
🎲 If this happens, the next downward leg in price might begin. However, if news comes out that these two countries are nearing an agreement and are ready to negotiate tariffs, the market will undoubtedly move upwards, and this news could even be the start of a new bullish trend.
Let's move on to the chart to find the technical triggers.
⏳ 1-Hour Timeframe
As I said yesterday, with the breaking of the 50 area in the RSI, the price underwent a deeper correction and moved upwards.
⭐ It appears that an ascending structure is forming, and the price is steadily moving upwards. However, this movement doesn't have much upward momentum, and its volume isn't very high.
🔽 Today, for a short position, we can open a position in line with the trend at a high risk with the break of the 78913 area. The price has corrected to a reasonable extent and has pulled back near the SMA99. If the price moves towards this SMA and gets rejected, the importance of breaking 78913 will increase.
📉 The main trigger is currently the 74760 area, which is the market's primary floor. However, in general, I believe that the market structure isn't yet in a state where we should open major positions, and we should wait for more structure to form. This way, we can open more secure and precise positions, which would allow us to take higher risks and ultimately make more profit.
💫 If you want to open a short position with the break of 78913, the RSI moving below the 50 area could be a good confirmation, but be careful not to involve too much risk.
👑 BTC.D Analysis
Let's move to the analysis of Bitcoin dominance, which is still ascending and has created a temporary support floor at 63.30. If this area breaks, we might temporarily confirm a decline in dominance.
🚀 Keep in mind that the dominance trend is bullish in all market cycles, and breaking this area does not mean a bearish trend. However, if it breaks 63.30, dominance might pull back to 63.07 and could enter a correction phase for a few days, which would impact our position choices.
✔️ If dominance is supported from this area, the likelihood of its continued growth increases.
📅 Total2 Analysis
Moving on to the analysis of Total2, as you can see, with the slight correction of Bitcoin dominance, this index has performed slightly better than Bitcoin and has currently reached a similar peak at 920.
📉 The short trigger I gave on Bitcoin at 78913 is a better trigger compared to Total2, where the 896 area has not yet been tested and is riskier than Bitcoin.
🔼 For long positions, you can open one with the break of 920, but I do not recommend it because the market is in a downward trend, and there is a downward momentum in the market, and since I do not trade against the trend, I also do not recommend that you take a long position against the downward trend.
📅 USDT.D Analysis
Finally, the analysis of Tether dominance is performing similarly to Total2 and is currently fluctuating between 5.73 and 5.84.
✨ Both of these areas could be used as triggers, but as I mentioned, it's better to wait for the market to create more structure and reveal the main triggers.
❌ 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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🏆 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.