TradeCityPro | BIGTIMEUSDT Final Downtrend?👋 Welcome to TradeCityPro Channel!
Let's analyze and review the new gaming coin BIGTIME and see what the market is going to be like. I feel like we're going to see the final downtrend.
🌐 Bitcoin Overview
Before starting today's altcoin analysis, let's look at Bitcoin on the 1-hour timeframe. Since yesterday, Bitcoin experienced a correction, which was necessary for the market, and it pulled back to the 102135 range. The next trigger for a long position will be a breakout above 104714.
Yesterday's correction, coupled with an increase in Bitcoin dominance, caused noticeable declines in some altcoins. This highlights the importance of monitoring BTC pairs in your checklist these days.
📊 Weekly Timeframe
This coin is not in an interesting situation on the weekly time frame and after being rejected from the resistance of 0.22109, it is continuing its downward trend and is recording a lower high and low
If the weekly candle closes like this and we lose the support of 0.06479, the declines will continue and if you are holding this coin, I suggest you exit temporarily and if it enters again, you will simply enter with a smaller number of this coin and your number of Tethers will be preserved
They are not really in good conditions for buying right now, but if the support is faked, we can get a trigger from them, but normally the best trigger is after the failure of 0.22109, but I repeat, the fake of this support can form a new trend!
📈 Daily Timeframe
The situation is the same on the weekly time frame and the probability of a fall is higher than ever, and after the rejection of this important resistance at 0.22785, we have experienced a 75% drop so far!
After this drop, we went into the range box between 0.05801 and 0.07342, and it is natural to suffer a little until our RSI rejected the middle line of 50, which again increased the probability of a fall.
Also, today's daily candle is very important, and if it closes like this, we are engulfing a few of our previous candles and the probability of a support floor breakdown is higher than ever, so you can open a short position and exit the spot, and your second entry for the spot breakdown will be 0.09270!
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
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