TradeCityPro | Bitcoin Daily Analysis #117👋 Welcome to TradeCity Pro!
After nearly 20 days of inactivity on this channel, we’re back with our regular analyses. As the first post in this new round, I’ll continue the Bitcoin series and present analysis number 117.
✅As usual, the analysis is done on the 1-hour timeframe to identify potential futures triggers for the New York session.
📰 Before diving into the charts, let’s briefly look at the market fundamentals. Over the past three weeks, we’ve had the news of the conflict between Iran and Israel. Aside from the initial couple of days, it didn’t have a significant impact on the market, and eventually, the market stopped reacting to it. Right now, the two countries have agreed to a ceasefire and seem to be negotiating.
🔍 In my opinion, the market is unlikely to care anymore whether this war continues or not. Whether they reach an agreement or not probably won’t make a big difference to the market.
🔑 The other major event was the Federal Reserve meeting. Everyone was expecting Jerome Powell to provide some clear outlook regarding US monetary policy, but once again, that didn’t happen. Powell didn’t provide any meaningful data.
📊 This uncertainty led to minimal market volatility and prevented any strong legs from forming, with no significant volume entering the market as everyone was waiting for Powell’s remarks. Since that didn’t yield much, the market remains indecisive for now.
💥 We’ll have to wait and see what kind of impactful news comes in the future. Until then, it’s best to remain patient.
⏳ 1-Hour Timeframe
On the 1-hour chart, you can see a bullish move that started from the 105370 zone, and with strong buying volume, price broke through 108619 and reached the top of 110256.
✨ Currently, price has only wicked into 110256 and hasn’t shown a decisive reaction to it yet. If it revisits this zone, we’ll be able to observe its real reaction to the supply level.
🔔 The current support zone is 108619, which has already received a bounce, forming a range box between 108619 and 110256.
📈 If the 110256 level breaks, the upward move could continue with another bullish leg.
🔽 For short positions, the first trigger would be a confirmation below 108619. But for a more reliable short, I would wait for the price to form a lower high and a lower low below that zone before entering.
👑 BTC.D Analysis
Bitcoin dominance is currently hovering around a key support at 65.04. A key resistance sits at 65.64, which would be the first trigger for bullish continuation.
⭐ The main breakout level for starting a new bullish trend in dominance would be 65.97. For bearish confirmation, a break below 65.04 would suffice.
📅 Total2 Analysis
Looking at Total2, a range box has formed between 1.15 and 1.17, with price oscillating in between.
🧩 Momentum is currently bullish, and there’s a high chance of breaking above 1.17. If this level is broken, we could see another bullish leg and a long position would be valid.
📉 For shorts, a break below 1.15 would be the first signal, but I personally prefer to wait for a clearer trend change before entering any short positions.
📅 USDT.D Analysis
USDT dominance is also ranging between 4.72 and 4.78, very similar to Total2.
📊 A break below 4.72 would confirm a bearish move, while a break above 4.78 would indicate bullish continuation for dominance.
❌ 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.
