TradeCityPro | Bitcoin Daily Analysis #41👋 Welcome to TradeCity Pro!
Let's delve into the analysis of Bitcoin and important crypto indices. Today, as usual, I aim to review the New York session futures triggers for you.
⏳ 1-Hour Timeframe
In the 1-hour timeframe, as you can see, Bitcoin is still in a range box between 83808 and 84734, and the market volume is continuously decreasing.
📊 The market volume has reached its lowest possible level, indicating that a move is imminent, so be alert today as the likelihood of our triggers activating is very high.
🔼 For a long position, entering at a break of 84734 could be beneficial, as breaking this area could start a bullish leg up to 86876.
📉 For short positions, a break of 83808 remains suitable. Yesterday, the price briefly breached this area but seemed to rebound, making it still appropriate for positioning.
👑 BTC.D Analysis
Moving on to Bitcoin dominance analysis, as you can see, dominance was rejected from the high of 61.63 yesterday, then set a lower high compared to this area, and now the floor of 61.43 has been broken.
💫 Currently, with the break of 61.43, dominance could move down to 61.08. However, if the break of 61.43 proves to be a fake-out, the likelihood of breaking 61.63 increases.
📅 Total2 Analysis
Let’s talk about Total2; this index doesn't have a very reliable trigger right now, and you can still enter a position with a break of 1.07, but if the price reacts to 1.05, on a second contact, entering on a break of this area might be viable.
🔽 For short positions, a break of 1.04 is suitable, and you can enter a position with the break of this area.
📅 USDT.D Analysis
Lastly, analyzing Tether dominance, it is still ranging and has formed a box between 5.25 and 5.34.
✔️ For a downward trend in dominance, you can confirm with a break of 5.25, and for an upward trend, a break of 5.34 will serve as your confirmation.
❌ 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.
