TradeCityPro | Bitcoin Daily Analysis #44👋 Welcome to TradeCity Pro!
Let's dive into the analysis of Bitcoin and other important crypto indices. As usual, I want to review the futures triggers for the New York session for you.
⏳ 1-Hour Timeframe
In the 1-hour timeframe, as you can see, yesterday Bitcoin managed to stabilize above 86876 and moved up to 88480.
⚡️ Currently, the area that the price has reacted to is 86401, so I moved the 86401 line from 86876.
💥 As I mentioned yesterday, if the RSI had stayed above 70, the movement could have continued, which it did, but the RSI did not stabilize above 78.58 and we did not witness a pump.
💫 With the break of the 70 area in the RSI, the upward momentum disappeared and the corrective phase of the price began. The market volume is currently in favor of the buyers and has decreased during the correction.
🔽 Today, for a short position, you can enter a risky position with a break of 86401 because the market trend is currently upward and all short positions are considered risky for now.
📈 For a long position, we currently don't have any specific triggers sooner than 88480, and if you want to open a position sooner, you need to wait for more structure to be created and catch triggers in lower timeframes.
👑 BTC.D Analysis
Let's move on to the analysis of Bitcoin dominance, yesterday the dominance made a lower peak than 61.80 and was rejected from 61.76.
✨ Currently, a box has formed between 61.35 to 61.76, and breaking any of these areas could confirm and start the next leg.
📅 Total2 Analysis
As for Total2, as you can see, this index is doing much better than Bitcoin and has made less correction because dominance was rejected from 61.76 yesterday.
🔑 Today, I don't have a short trigger for Total2 because it's very bullish, but for a long, the trigger of 1.09 is very suitable and with a break of this area, we can witness the next bullish leg up to 1.12.
📅 USDT.D Analysis
Let's look at the USDT.D, it seems a range box is forming between 5.15 and 5.05, and breaking either of these areas could be important.
🎲 A break of 5.05 for a short, especially if it coincides with a break of 1.09 in Total2, would be very appropriate.
❌ 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.
