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Let’s get into the analysis of Bitcoin and key crypto indexes. As usual, I’ll be reviewing the futures triggers for the New York session.
⏳ 1-Hour timeframe
In the 1-Hour timeframe, as you can see, Bitcoin broke the 118494 top yesterday and is now moving upward.
✔️ According to the Fibonacci Extension zones, the price has moved up to the 0.5 Fibonacci level and has been rejected from there, printing a few red candles for now.
📊 The buying volume in this bullish leg was very high, and as you can see, volume was in convergence with the trend. Now that the corrective phase has started, the volume is also decreasing, and still remains in convergence with the uptrend.
🔔 From a momentum perspective, we’ve reached a market top because RSI has reached the ceiling it previously formed at the 85.90 level, reacted to it, and has now dropped back below the 70 zone.
💥 If the 85.90 zone on RSI is broken, we’ll likely see a very sharp and explosive bullish leg from Bitcoin. In that case, the next targets would be the 0.786 and 1 Fibonacci levels.
🔑 For opening a position now, we can enter on the break of 122512, and we could also use the price’s pullback to the SMA25 as an entry. For now, our triggers aren’t highly reliable, so positions should be based more on market momentum.
👑 BTC.D Analysis
Let’s move to Bitcoin Dominance. The dominance range box between the 64.44 and 64.82 is still ongoing, and dominance hasn’t broken out of this box yet.
⚡️ If the box breaks downward, a large amount of capital will flow into altcoins, and we could see major pumps in altcoins.
📅 Total2 Analysis
Moving on to Total2. Yesterday, the 1.3 top was broken and the price moved up toward 1.33 and has now reached that area.
I✨ f that resistance breaks, the next target will be 1.41. If a correction happens, 1.3 and 1.26 are the lower support zones.
📅 USDT.D Analysis
Now to Tether Dominance. A new bearish wave started yesterday and has continued down to 4.22.
🎲 If this zone breaks, the bearish leg can continue down to 4.08.
❌ 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.
Let’s get into the analysis of Bitcoin and key crypto indexes. As usual, I’ll be reviewing the futures triggers for the New York session.
⏳ 1-Hour timeframe
In the 1-Hour timeframe, as you can see, Bitcoin broke the 118494 top yesterday and is now moving upward.
✔️ According to the Fibonacci Extension zones, the price has moved up to the 0.5 Fibonacci level and has been rejected from there, printing a few red candles for now.
📊 The buying volume in this bullish leg was very high, and as you can see, volume was in convergence with the trend. Now that the corrective phase has started, the volume is also decreasing, and still remains in convergence with the uptrend.
🔔 From a momentum perspective, we’ve reached a market top because RSI has reached the ceiling it previously formed at the 85.90 level, reacted to it, and has now dropped back below the 70 zone.
💥 If the 85.90 zone on RSI is broken, we’ll likely see a very sharp and explosive bullish leg from Bitcoin. In that case, the next targets would be the 0.786 and 1 Fibonacci levels.
🔑 For opening a position now, we can enter on the break of 122512, and we could also use the price’s pullback to the SMA25 as an entry. For now, our triggers aren’t highly reliable, so positions should be based more on market momentum.
👑 BTC.D Analysis
Let’s move to Bitcoin Dominance. The dominance range box between the 64.44 and 64.82 is still ongoing, and dominance hasn’t broken out of this box yet.
⚡️ If the box breaks downward, a large amount of capital will flow into altcoins, and we could see major pumps in altcoins.
📅 Total2 Analysis
Moving on to Total2. Yesterday, the 1.3 top was broken and the price moved up toward 1.33 and has now reached that area.
I✨ f that resistance breaks, the next target will be 1.41. If a correction happens, 1.3 and 1.26 are the lower support zones.
📅 USDT.D Analysis
Now to Tether Dominance. A new bearish wave started yesterday and has continued down to 4.22.
🎲 If this zone breaks, the bearish leg can continue down to 4.08.
❌ 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.
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🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.