TradeCityPro | Bitcoin Daily Analysis #86👋 Welcome to TradeCity Pro!
Let’s move on to the analysis of Bitcoin and major crypto indices. As usual, in this analysis I want to review the futures session triggers for New York.
✔️ Yesterday the market made another bullish leg and has now reached the 103642 resistance. There’s a chance we might enter a correction phase because the move has been very sharp and I think the market needs a rest.
⏳ 1-Hour Timeframe
As you can see in the 1-hour timeframe, we had a bullish move that continued after a pullback to the 99337 zone, climbing all the way to 103642.
💥 The RSI trigger I gave you also got activated and yesterday you could open a momentum-based position. I personally already have a long on Bitcoin from near 88000, so I didn’t open another one yesterday.
⚡️ Currently, RSI is exiting the Overbuy zone, and if that happens, the chance of entering a correction phase increases. As long as the price is above 99337, the main market momentum is still bullish and we’re not confirming a trend reversal just yet due to this strong momentum.
📈 Over the past few weeks, I emphasized a lot that you should definitely have at least one long position open, and not to open short positions unless a trend reversal is confirmed. I hope you’ve used the analyses and opened proper positions on either Bitcoin or altcoins.
📊 Today, it’s a bit late to open new positions because I think the market has made its main move and now we’re waiting for a correction phase to start. However, if you don’t have a position, you can enter a very risky trade on the breakout of the 103642 level.
🚨 This position is very risky and I personally won’t open it because we’re near the ATH and I think even if Bitcoin moves up to 106247, it’ll likely take a breather and won’t go straight up.
🔼 In any case, if you want to open a long position, I personally suggest waiting for a new structure to form and then look for a trigger. Otherwise, the only current trigger we have is 103642.
📉 As for a short position, you definitely know by now that with this strong bullish momentum, I’m not going to give you a short trigger. You have to wait for a proper structure for short entries.
👑 BTC.D Analysis
Let’s go to Bitcoin dominance. Yesterday dominance finally made a bearish move. It was a very sharp and one-sided drop to the 63.61 level without any corrections.
🧩 Currently, dominance is very bearish and altcoins have moved up strongly. Especially Ethereum, which after a long time made a sharp bullish move. I think as the market starts to correct, dominance will also move up and correct.
⭐ For altcoin entries, I personally wait for dominance to make a short-term upward correction and if it continues the second leg downward, I’ll enter altcoins.
📅 Total2 Analysis
Let’s move on to Total2. This index also had a sharp bullish move and after breaking 1.05, it managed to climb to 1.17.
🔔 I’ve talked a lot about the 1.05 zone and repeatedly told you to make sure you have a long position if it breaks. With that trigger activated, the Total2 uptrend has started and reached the 1.17 resistance.
✨ Currently, the only available trigger is the breakout of the 1.17 zone, and if it’s broken, we can enter another position.
📅 USDT.D Analysis
Let’s move to USDT dominance. Yesterday the 4.82 trigger was activated and dominance continued to fall. I also emphasized the 4.99 breakdown a lot and once again, I hope you’ve used the analysis and opened a position.
👀 Currently, the price has reached the 4.65 zone, which is very important and could trigger a correction. But if this zone breaks, we can open short positions.
💫 Overall, today if you notice, all the charts we analyzed seem to have made enough moves and now it’s time for a correction. However, if their triggers are activated and you don’t already have a position, you can still enter.
❌ 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.
