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Let's dive into the analysis of Bitcoin and other important crypto indices. In this analysis, I want to review the important futures triggers in today's New York session. Yesterday, the market was rejected from a significant area and experienced a bearish leg.
📰 Before starting the analysis, it's worth noting that today Trump has a very important speech about tariffs, and if he discusses cryptocurrencies, the market may experience significant fluctuations. Therefore, be cautious about opening high-risk positions today.
⏳ 1-Hour Timeframe
In the 1-hour timeframe, as observed yesterday, after the price rose from the 91422 area, I mentioned that if the 94355 resistance were broken, we could enter a long position, and if the 91422 area were broken, we could enter a short position.
🔍 That exact scenario occurred, and after the price created a lower high compared to 94355, we witnessed a significant bearish momentum, resulting in a large bearish candle that engulfed several previous candles, broke the 91422 support, and reached the 89318 area.
⚡️ After this event and several resting and pullback candles that hit the 0.382 Fibonacci area, the price proceeded with its next bearish leg, breaking the 89318 area near the 0.618 Fibonacci zone. With this PRZ break, we can say that all bullish market momentum was wiped out, and the price fully corrected relative to the bullish leg it had previously made, reaching the 85204 area.
✅ This morning, this area was also breached, and the price executed a Downside Extension to the 1.272 Fibonacci Retracement, meaning the market has fully engulfed the bullish leg and even dropped an additional 27% from that leg to date.
📉 Currently, there is support at the 83151 area, which coincides with the 1.272 Fibonacci. If this area is breached, we can expect the Downside Extension to continue, with the next support at the Fibonacci 1.618, a crucial Fibonacci zone. If this area is also breached, there is a static support at 78940.
💥 In the RSI, note the significant bearish momentum in the market. If the RSI can re-enter and stay in the Oversell zone, the likelihood of breaking 83151 or even 78940 will increase.
📊 Regarding volume, as you can see, it mostly shows a ranging structure with a few high-volume candles within this range that can be considered Selloff candles. After these candles, the price had several resting and corrective candles.
✨ Overall, the volume is ranging, and we will see whether buying or selling volume enters the market based on Trump's statements.
🔼 For a risky long position today, you can open a long position with the breakout of 85204. I suggest this trigger because Trump has a speech today, and if this news is favorable for crypto, Bitcoin could move upward again under the news influence, and I think the risk is worth taking if this area breaks.
❌ However, open this position with the minimal risk your strategy allows, and ensure that no more than 0.5% or 0.25% of your capital is at risk if this position hits a stop-loss.
💫 No more to discuss about Bitcoin; let's move on to the analysis of dominances to see what triggers we can find for altcoins.
👑 BTC.D Analysis
Let's look at the Bitcoin dominance analysis. As you can see, yesterday I defined a resistance area at 61.48 for you and mentioned that the price might get rejected from this area and the dominance might turn bearish again, which did happen, albeit slightly off at 61.61.
⭐️ Therefore, I have moved this line and adjusted it to this area. Currently, we are witnessing several bearish candles in a row from Bitcoin's dominance, and it seems likely that the dominance could move back down to the 60.40 floor with the bearish momentum it has, and as I've said in the past few days, I still see Bitcoin's dominance trend as ranging.
🎯 The dominance is not very analyzable at the moment, and we need to wait and see which side the box will break. If the box breaks from the 62.19 area, we can say that a lot of money is likely to enter Bitcoin, and Bitcoin could move more than altcoins. If the dominance breaks from the 60.40 area downwards, we can say that more money will enter altcoins.
📅 Total2 Analysis
Moving on to the Total2 analysis, yesterday I told you that if the 1.14 level is broken, you could enter a short position if Bitcoin's dominance was rising, which indeed occurred, and the dominance of Bitcoin was rising while this break happened, and the dominance had not yet been rejected from the ceiling, which is why the short position you opened on altcoins could have been much more profitable.
🎲 However, as you can see, I have moved this trigger and transferred it to the 1.13 area because I think this area is cleaner, and as you can see, the price has reacted to it once and is likely to react to this area more in the future than to the 1.14 area.
🔑 Overall, the gray areas you see drawn on the chart are not very important supports and resistances, so I easily move them if the price does not show the reaction I want, and it is not very important to me if their position changes.
☘️ However, as you can see, after the price broke the 1.13 area, it executed its main bearish leg downwards, even breaking the 1.07 area and hitting a shadow to the 1.01 area as you can see, and is currently in a corrective phase.
🔽 The 1.07 area could be very important today, and if this area is broken, we can say that the price could make a deeper correction. But if this does not happen and the price is rejected from this area, we can say that altcoins are ready to execute their next bearish leg at least down to the 1.01 area.
✅ Depending on Bitcoin's dominance, you can decide to open a position on Bitcoin itself today or on altcoins. As you can see, the dominance candles being set suggest a bearish dominance, so if the market gives a short position, Bitcoin will be better than altcoins, but while you are reading this analysis, if you want to open a position, it might be that the dominance turns bullish, in which case a short position on altcoins would be better than on Bitcoin.
📅 USDT.D Analysis
Let's look at the Tether dominance analysis. As I told you yesterday, if the 4.82 level was broken, the dominance could start a bullish leg, which did happen, and the market activated its short trigger in Total2 and altcoins, and the dominance moved upwards, even breaking the 5.08 area and with a pullback to this area, reached 5.30.
🧲 This area was previously around 5.21, but as I told you, I easily move lines that are gray if the price does not respect them, and for this reason, I moved this area to 5.30, as you can see, the price has reacted to it and now seems to be correcting.
📊 Unfortunately, I don't have a specific trigger for a bearish turn in Tether dominance, but this 5.30 trigger is a very suitable one for it to turn more bullish, and in my opinion, if the dominance wants to turn more bullish and break this area, it could move again up to the 5.50 area.
🔼 But in case of a correction in dominance, the first very important support exists at 5.08, and the dominance could correct to this area.
📌 Final Words Overall, I think the market today is not very analyzable and can have a lot of sharp and emotional movements, and everything depends on Trump's speech.
❗️ I suggest that if you think the market will go up with Trump's speech, hold a long position, and if you think it will go down, hold a short position if triggers are activated.
🎲 But open this position with the minimum risk you can and are allowed to take because Trump's speech can create a lot of sharp movements in the market, and if you do not risk manage and set a stop-loss, your position can easily be liquidated, so be careful to risk the minimum amount that your strategy allows you to open these positions.
❌ 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 dive into the analysis of Bitcoin and other important crypto indices. In this analysis, I want to review the important futures triggers in today's New York session. Yesterday, the market was rejected from a significant area and experienced a bearish leg.
📰 Before starting the analysis, it's worth noting that today Trump has a very important speech about tariffs, and if he discusses cryptocurrencies, the market may experience significant fluctuations. Therefore, be cautious about opening high-risk positions today.
⏳ 1-Hour Timeframe
In the 1-hour timeframe, as observed yesterday, after the price rose from the 91422 area, I mentioned that if the 94355 resistance were broken, we could enter a long position, and if the 91422 area were broken, we could enter a short position.
🔍 That exact scenario occurred, and after the price created a lower high compared to 94355, we witnessed a significant bearish momentum, resulting in a large bearish candle that engulfed several previous candles, broke the 91422 support, and reached the 89318 area.
⚡️ After this event and several resting and pullback candles that hit the 0.382 Fibonacci area, the price proceeded with its next bearish leg, breaking the 89318 area near the 0.618 Fibonacci zone. With this PRZ break, we can say that all bullish market momentum was wiped out, and the price fully corrected relative to the bullish leg it had previously made, reaching the 85204 area.
✅ This morning, this area was also breached, and the price executed a Downside Extension to the 1.272 Fibonacci Retracement, meaning the market has fully engulfed the bullish leg and even dropped an additional 27% from that leg to date.
📉 Currently, there is support at the 83151 area, which coincides with the 1.272 Fibonacci. If this area is breached, we can expect the Downside Extension to continue, with the next support at the Fibonacci 1.618, a crucial Fibonacci zone. If this area is also breached, there is a static support at 78940.
💥 In the RSI, note the significant bearish momentum in the market. If the RSI can re-enter and stay in the Oversell zone, the likelihood of breaking 83151 or even 78940 will increase.
📊 Regarding volume, as you can see, it mostly shows a ranging structure with a few high-volume candles within this range that can be considered Selloff candles. After these candles, the price had several resting and corrective candles.
✨ Overall, the volume is ranging, and we will see whether buying or selling volume enters the market based on Trump's statements.
🔼 For a risky long position today, you can open a long position with the breakout of 85204. I suggest this trigger because Trump has a speech today, and if this news is favorable for crypto, Bitcoin could move upward again under the news influence, and I think the risk is worth taking if this area breaks.
❌ However, open this position with the minimal risk your strategy allows, and ensure that no more than 0.5% or 0.25% of your capital is at risk if this position hits a stop-loss.
💫 No more to discuss about Bitcoin; let's move on to the analysis of dominances to see what triggers we can find for altcoins.
👑 BTC.D Analysis
Let's look at the Bitcoin dominance analysis. As you can see, yesterday I defined a resistance area at 61.48 for you and mentioned that the price might get rejected from this area and the dominance might turn bearish again, which did happen, albeit slightly off at 61.61.
⭐️ Therefore, I have moved this line and adjusted it to this area. Currently, we are witnessing several bearish candles in a row from Bitcoin's dominance, and it seems likely that the dominance could move back down to the 60.40 floor with the bearish momentum it has, and as I've said in the past few days, I still see Bitcoin's dominance trend as ranging.
🎯 The dominance is not very analyzable at the moment, and we need to wait and see which side the box will break. If the box breaks from the 62.19 area, we can say that a lot of money is likely to enter Bitcoin, and Bitcoin could move more than altcoins. If the dominance breaks from the 60.40 area downwards, we can say that more money will enter altcoins.
📅 Total2 Analysis
Moving on to the Total2 analysis, yesterday I told you that if the 1.14 level is broken, you could enter a short position if Bitcoin's dominance was rising, which indeed occurred, and the dominance of Bitcoin was rising while this break happened, and the dominance had not yet been rejected from the ceiling, which is why the short position you opened on altcoins could have been much more profitable.
🎲 However, as you can see, I have moved this trigger and transferred it to the 1.13 area because I think this area is cleaner, and as you can see, the price has reacted to it once and is likely to react to this area more in the future than to the 1.14 area.
🔑 Overall, the gray areas you see drawn on the chart are not very important supports and resistances, so I easily move them if the price does not show the reaction I want, and it is not very important to me if their position changes.
☘️ However, as you can see, after the price broke the 1.13 area, it executed its main bearish leg downwards, even breaking the 1.07 area and hitting a shadow to the 1.01 area as you can see, and is currently in a corrective phase.
🔽 The 1.07 area could be very important today, and if this area is broken, we can say that the price could make a deeper correction. But if this does not happen and the price is rejected from this area, we can say that altcoins are ready to execute their next bearish leg at least down to the 1.01 area.
✅ Depending on Bitcoin's dominance, you can decide to open a position on Bitcoin itself today or on altcoins. As you can see, the dominance candles being set suggest a bearish dominance, so if the market gives a short position, Bitcoin will be better than altcoins, but while you are reading this analysis, if you want to open a position, it might be that the dominance turns bullish, in which case a short position on altcoins would be better than on Bitcoin.
📅 USDT.D Analysis
Let's look at the Tether dominance analysis. As I told you yesterday, if the 4.82 level was broken, the dominance could start a bullish leg, which did happen, and the market activated its short trigger in Total2 and altcoins, and the dominance moved upwards, even breaking the 5.08 area and with a pullback to this area, reached 5.30.
🧲 This area was previously around 5.21, but as I told you, I easily move lines that are gray if the price does not respect them, and for this reason, I moved this area to 5.30, as you can see, the price has reacted to it and now seems to be correcting.
📊 Unfortunately, I don't have a specific trigger for a bearish turn in Tether dominance, but this 5.30 trigger is a very suitable one for it to turn more bullish, and in my opinion, if the dominance wants to turn more bullish and break this area, it could move again up to the 5.50 area.
🔼 But in case of a correction in dominance, the first very important support exists at 5.08, and the dominance could correct to this area.
📌 Final Words Overall, I think the market today is not very analyzable and can have a lot of sharp and emotional movements, and everything depends on Trump's speech.
❗️ I suggest that if you think the market will go up with Trump's speech, hold a long position, and if you think it will go down, hold a short position if triggers are activated.
🎲 But open this position with the minimum risk you can and are allowed to take because Trump's speech can create a lot of sharp movements in the market, and if you do not risk manage and set a stop-loss, your position can easily be liquidated, so be careful to risk the minimum amount that your strategy allows you to open these positions.
❌ 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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🤵 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.
💥 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.