TradeCityPro | Bitcoin Daily Analysis #73👋 Welcome to TradeCity Pro!
In this analysis, I want to give you a complete review of Bitcoin. There are just a few days left until the monthly candle closes, and it’s been a while since I analyzed higher timeframes for you, so it’s a good time to do that now.
📅 Monthly Timeframe
In the monthly timeframe, it’s very clear that Bitcoin has a long-term uptrend, which is still ongoing. The new leg of this trend started from the 16162 bottom and has so far extended to 104857.
⚡️ In the past few candles, the price has entered a phase of correction and consolidation, which is perfectly natural and necessary for the trend’s health. However, because this is happening on the monthly timeframe and takes months, some traders and market participants might think the uptrend has ended.
✔️ First of all, Bitcoin’s uptrend has not ended yet. We’ve just seen two red monthly candles, and now with this month's candle, bullish momentum is reentering the market. I believe the price can register a new all-time high (ATH). Even if that doesn’t happen, remember that Bitcoin’s dominance is very high, and this bullish cycle won’t last forever—eventually, Bitcoin dominance will start to fall.
🔍 If that happens and the percentage of money inside Bitcoin decreases, this capital will shift into altcoins. With this large inflow of capital, an altcoin season will begin.
📊 My personal view is that Bitcoin will have one more bullish leg toward 130,000 or 180,000, and after that, dominance will start to drop and the altcoin season will begin. Initially, Bitcoin will move upward, followed by strong, large-cap altcoins like Ethereum, BNB, XRP, etc. After these big players rally, capital will shift into good low-cap projects, leading to the crazy crypto pumps we've seen in previous bull runs.
🔽 This is the scenario I find most likely. But if the market moves against this scenario and dominance shifts earlier or later, I will adapt accordingly without being rigid in my analysis.
✨ As for Bitcoin turning bearish, I think that’s very unlikely for now, and the triggers for that are still far away from the current price. If that scenario becomes more probable, I’ll update my analysis and discuss it.
In short, for Bitcoin to turn bearish, it would need to make a lower high and a lower low compared to 104000, and if a sharp downtrend is to happen, the price must establish below 58000.
📅 Weekly Timeframe
In the weekly timeframe, we can see the bullish movement in more detail. A bullish move started from the 16162 bottom and after three bullish legs, the price reached the 104857 resistance.
💫 Currently, the price is in the correction phase of the third bullish leg and had pulled back close to the previous high of 71520. After forming a bullish engulfing candle, bullish momentum has returned, and the price is moving back toward 104857.
🎲 The 104857 area overlaps with the 0.618 Fibonacci Extension, creating a strong PRZ (Potential Reversal Zone). If this high breaks, the next resistance levels are the 0.786 and 1 Fibonacci levels, roughly around 125000 and 155000.
👀 There’s also a visible trendline in this timeframe that the price has touched three times, and each time the trendline bottom coincided with RSI support. However, the last time the price touched the trendline, it made a fakeout, which can be observed both on the price chart and on RSI.
⭐ This fakeout could inject even stronger bullish momentum and drive the price higher. But for this to happen, the current bullish leg must break above 104857—otherwise, the scenario fails, because if buyers truly have strength after a trendline breakout, they should be able to break the previous high.
☘️ If this doesn’t happen, it signals weakness, and the price could move back toward the 71000 support, with an increased probability of breaking it.
💥 In previous analyses, I also mentioned that during this bullish cycle, RSI has accurately indicated market bottoms each time it touched the 45.17 support level. This has happened again, and I hope you were able to benefit from it.
📅 Daily Timeframe
In the daily timeframe, as you can see, using the bullish leg up to 106247, we can draw a Fibonacci Retracement.
🔑 In the initial correction phase after reaching 106247, a box was formed between the 0.236 Fibonacci level and the 106247 top. After the 0.236 Fibonacci level, which overlapped with 90958, was broken, a deeper correction occurred down to the 0.5 Fibonacci level.
🔄 A descending trendline can also be drawn on the chart. As I mentioned in Bitcoin analysis #52, I advised spot buying upon the breakout of this trendline. I hope you were able to take full advantage of that opportunity.
📚 After the price reached the 0.5 Fibonacci level, a strong reaction occurred, and after activating the 87360 trigger, the price began a bullish move with strong buying volume and sharp candles, climbing back above 90958. If it holds above this level, it could move back toward the 106247 top.
💥 The RSI oscillator has increased significantly during this bullish move and is now near the Overbuy zone. If RSI enters the excitement zone, the likelihood of a sharp move toward the main resistance increases, and if RSI stabilizes above this zone, the probability of breaking the 106247 top will be very high.
📉 Currently, strong bullish momentum has entered the market, so we can expect a solid uptrend to continue. However, if the price falls back below 90958 before reaching the 106247 top, it would suggest that the entire bullish move was a fakeout, and bearish momentum could enter, pushing the price lower toward the 0.618 or even 0.786 Fibonacci levels.
⏳ 4-Hour Timeframe
Let’s check the 4-hour timeframe for futures triggers.
✔️ As you know from previous analyses, we had two main entry points for long positions at 85697 and 88289, and I hope you managed to open positions based on those.
💣 Currently, the price has reached the 95173 resistance and is being rejected. The RSI oscillator also shows a divergence, and if the 64.4 level breaks on RSI, temporary bullish momentum could fade.
🔼 In case of correction, the supports we currently have are at 92109 and 88289. For more levels, we’ll need to wait for a proper correction to use Fibonacci tools.
📈 For a long position, you can enter on the breakout of 95173. The next price target will be 98828.For a short position, we still need to wait for a proper trend reversal.
❌ 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.
