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Let’s dive into Bitcoin and key crypto indices. As usual, in this analysis, I’ll walk you through the triggers for the New York futures session.
⏳ 1-Hour Timeframe
On the 1-hour chart, as you can see, Bitcoin’s correction phase began after the breakdown of the 107010 level. Currently, after pulling back to the 105673 area, it seems ready to begin its next corrective leg.
✔️ One of the reasons Bitcoin has moved downward over the past few days is the escalation of war between Ukraine and Russia. As the conflict intensified, risk assets like Bitcoin dropped while safe-haven assets like gold surged.
🔍 Currently, price action is forming an expanding triangle and is trending downward. It was recently rejected from the triangle’s top and is now sitting on a key support at 103899.
💥 If 103899 breaks, a short position targeting 101750 could be triggered. Selling volume has increased significantly, confirming bearish momentum, so opening a short upon a break of 103899 appears logical. However, keep in mind that the primary market trend remains bullish, and there is a high probability that any short may hit stop-loss.
📈 For a long position, the first trigger would be a breakout above the triangle. In this case, breaking 105673 could justify entry. Key overhead resistances are located at 107010 and 110256.
👑 BTC.D Analysis
Looking at Bitcoin dominance, the metric continued its upward move to reach 64.67 and has since been rejected from that level.
⚡️ If the bullish move continues, the breakout above 64.67 would act as a bullish trigger. On the other hand, a breakdown below 64.29 would confirm a bearish shift.
📅 Total2 Analysis
Total2 is currently ranging between 1.13 and 1.16. A breakout from either side could serve as a trigger for a directional position.
📊 If 1.13 breaks, a short position could be considered. Conversely, breaking above 1.16 would signal a potential long.
📅 USDT.D Analysis
After breaking above 4.70, USDT dominance has been ranging between 4.70 and 4.79. It’s now heading back toward the 4.79 resistance.
🧩 If 4.79 is broken, the next bullish leg in dominance may begin. A drop back below 4.70 would bring the dominance back into its previous range and could lead to further downside toward 4.49.
❌ 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 Bitcoin and key crypto indices. As usual, in this analysis, I’ll walk you through the triggers for the New York futures session.
⏳ 1-Hour Timeframe
On the 1-hour chart, as you can see, Bitcoin’s correction phase began after the breakdown of the 107010 level. Currently, after pulling back to the 105673 area, it seems ready to begin its next corrective leg.
✔️ One of the reasons Bitcoin has moved downward over the past few days is the escalation of war between Ukraine and Russia. As the conflict intensified, risk assets like Bitcoin dropped while safe-haven assets like gold surged.
🔍 Currently, price action is forming an expanding triangle and is trending downward. It was recently rejected from the triangle’s top and is now sitting on a key support at 103899.
💥 If 103899 breaks, a short position targeting 101750 could be triggered. Selling volume has increased significantly, confirming bearish momentum, so opening a short upon a break of 103899 appears logical. However, keep in mind that the primary market trend remains bullish, and there is a high probability that any short may hit stop-loss.
📈 For a long position, the first trigger would be a breakout above the triangle. In this case, breaking 105673 could justify entry. Key overhead resistances are located at 107010 and 110256.
👑 BTC.D Analysis
Looking at Bitcoin dominance, the metric continued its upward move to reach 64.67 and has since been rejected from that level.
⚡️ If the bullish move continues, the breakout above 64.67 would act as a bullish trigger. On the other hand, a breakdown below 64.29 would confirm a bearish shift.
📅 Total2 Analysis
Total2 is currently ranging between 1.13 and 1.16. A breakout from either side could serve as a trigger for a directional position.
📊 If 1.13 breaks, a short position could be considered. Conversely, breaking above 1.16 would signal a potential long.
📅 USDT.D Analysis
After breaking above 4.70, USDT dominance has been ranging between 4.70 and 4.79. It’s now heading back toward the 4.79 resistance.
🧩 If 4.79 is broken, the next bullish leg in dominance may begin. A drop back below 4.70 would bring the dominance back into its previous range and could lead to further downside toward 4.49.
❌ 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.