TradeCityPro | Bitcoin Daily Analysis #33👋 Welcome to TradeCityPro!
Let's dive into the Bitcoin analysis and other key crypto indices. Today, I'm bringing you the analysis earlier than usual and will be looking at the triggers for both the London and New York sessions.
⚡️ Yesterday, one of our triggers was activated but unfortunately hit the stop loss. However, we have another trigger today, so let's go ahead and analyze it.
⏳ 1-Hour Timeframe
In the 1-hour timeframe, as you can see, yesterday's trigger at 81466 was activated and you could have opened a position with it. I personally opened a position on Ethereum, and my position is near the stop loss. Bitcoin was supported at the 80105 area and has moved back above 81466.
📊 The market volume has significantly decreased in bullish candles, indicating that this upward movement might just be a deep correction because if the 81466 area was going to break definitively, we would have seen significant buying momentum and volume enter the market, but that didn't happen and this upward movement is accompanied by severe trend weakness.
🔽 Currently, for a short position, with the break of 80105, you can open a position. This area is one where the price reacted yesterday after significant bearish momentum, so it's a suitable demand zone and breaking this area could see the price move towards the target of 77598.
📈 For long positions, the main trigger remains 83979, and breaking this area could bring significant momentum and volume into the market. Potential targets for a long position are 86440 and 91558.
👑 BTC.D Analysis
Let's move on to the analysis of Bitcoin dominance. Yesterday, dominance continued to decline, dropping to 61.53 but is currently forming green candles and moving upwards slightly.
💥 There hasn't been much structure created yet, and we can't give a trigger for the dominance to turn bullish yet, but breaking the 61.53 area could initiate the next bearish leg.
📅 Total2 Analysis
Moving on to the analysis of Total2, yesterday's Total2 trigger was not activated and the same triggers we have for altcoins are still suitable.
The reason for this is that Bitcoin's dominance was bearish, which led to Bitcoin dropping more than altcoins, and the short trigger for it was activated, but Total2 remains above this area.
✔️ For a short position, you can enter if the break below 984 occurs, and for long positions, breaking 1.01 would be suitable.
📅 USDT.D Analysis
Finally, let's look at the analysis of Tether dominance. As you can see, yesterday its trigger was activated, and a fake break occurred.
🎲 However, as you can see, after the 5.49 area was faked, the price was rejected with a green candle, and it reacted to this area, so I still keep the USDT.D resistance area at 5.49 and will wait to see how dominance reacts to different areas.
🧲 The bearish confirmation of Tether dominance is clear, and with a break of 5.33, we can confirm it. For the dominance to turn bullish, the area is still 5.49, but wait until the price shows a reaction to this area to fine-tune your main trigger.
❌ 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.
