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Let's dive into the analysis of Bitcoin and other key cryptocurrency indicators. In this analysis, I want to review the important futures triggers in today's New York session.
⏳ 1-Hour Timeframe
Before we start the analysis, let's review the positions we could have opened yesterday. I mentioned that if the area of 83151 was breached, you could enter a short position. As you can see, that happened, and the candle stabilized below this area, and I opened a short position which then hit the stop loss.
⚡️ However, after this occurred, we observed a very strong support candle at this level, which caused this break to be a fakeout, and the price started to move upwards. If you recall, I mentioned that if the price could stabilize above the ceiling, a new upward leg could start, which is why I had placed a stop buy above this area. With the fakeout of the lower support, this stop buy was triggered, and the price began its upward movement.
🧲 Currently, as you can see, the price has also passed the 0.382 Fibonacci area, breaking through it and moving upwards. An important resistance that we had previously charted was at 89318, which, as you see, the price is stabilizing above. If this happens, we could see the price potentially reaching back up to 94355. It's challenging to give a trigger for today because our main trigger, the 0.382 Fibonacci area, has unfortunately been activated in recent candles.
📊 We need to wait for the market to form a structure now. If the break of either the 89318 area or the 0.382 Fibonacci turns out to be a fake, you could consider finding a trigger in lower time frames to open a short position. The reason is that the price is making a lower high compared to 94355. But overall, be cautious about opening risky positions on Bitcoin today and tomorrow because Trump's speech on Friday could move the market significantly, and the market might be less volatile in these two days.
👑 BTC.D Analysis
Looking at the Bitcoin dominance, it continues to range between 60.40 and 61.41. As you can see, it's really hard to predict the movements of the dominance as it's mostly ranging between these two levels.
🔼 Currently, it's moving towards the upper limit with a green candle. A higher low has been made compared to the 60.40 area, which increases the chances of breaking out from the top of the box.
🔍 If this occurs, the next resistances are at 62.19 and 62.66. If Bitcoin dominance rises, and the market drops, altcoins will likely fall significantly. If the market rises, Bitcoin might perform better than altcoins.
📅 Total2 Analysis
As observed, we saw an upward movement in Total2 yesterday after consolidating above the 1.07 area, starting a new upward leg. Currently, this index has reached the resistance at 1.13, and we need to wait and see if it can break this area. Currently, the trigger for a long position is precisely this break of the 1.13 area.
🧩 If this area is breached, the price could move to further resistances at 1.18 or even 1.23. However, if Total 2 is rejected from this area, we might expect another drop, potentially reaching back down to 1.01.
📅 USDT.D Analysis
As seen, yesterday after USDT.D pulled back to the 5.30 area and failed to consolidate above it, we witnessed a significant drop. This initial downward leg saw the price even rise above the 5.08 area, and this morning, after pulling back to this area, as you can see, dominance continues to trend downward with the next significant support at 4.82, which I believe could be reached.
🎲 I don't have much else to say about this dominance because I don't have any specific triggers for today.
📌 Overall, I don't have any specific triggers in the market today; we had one yesterday that was activated, but today I can't specify any particular triggers for you, and it's better to be an observer and wait for significant news from the US, especially the meeting that Trump is expected to hold on Friday, which could be very decisive for the market's future.
❌ 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 key cryptocurrency indicators. In this analysis, I want to review the important futures triggers in today's New York session.
⏳ 1-Hour Timeframe
Before we start the analysis, let's review the positions we could have opened yesterday. I mentioned that if the area of 83151 was breached, you could enter a short position. As you can see, that happened, and the candle stabilized below this area, and I opened a short position which then hit the stop loss.
⚡️ However, after this occurred, we observed a very strong support candle at this level, which caused this break to be a fakeout, and the price started to move upwards. If you recall, I mentioned that if the price could stabilize above the ceiling, a new upward leg could start, which is why I had placed a stop buy above this area. With the fakeout of the lower support, this stop buy was triggered, and the price began its upward movement.
🧲 Currently, as you can see, the price has also passed the 0.382 Fibonacci area, breaking through it and moving upwards. An important resistance that we had previously charted was at 89318, which, as you see, the price is stabilizing above. If this happens, we could see the price potentially reaching back up to 94355. It's challenging to give a trigger for today because our main trigger, the 0.382 Fibonacci area, has unfortunately been activated in recent candles.
📊 We need to wait for the market to form a structure now. If the break of either the 89318 area or the 0.382 Fibonacci turns out to be a fake, you could consider finding a trigger in lower time frames to open a short position. The reason is that the price is making a lower high compared to 94355. But overall, be cautious about opening risky positions on Bitcoin today and tomorrow because Trump's speech on Friday could move the market significantly, and the market might be less volatile in these two days.
👑 BTC.D Analysis
Looking at the Bitcoin dominance, it continues to range between 60.40 and 61.41. As you can see, it's really hard to predict the movements of the dominance as it's mostly ranging between these two levels.
🔼 Currently, it's moving towards the upper limit with a green candle. A higher low has been made compared to the 60.40 area, which increases the chances of breaking out from the top of the box.
🔍 If this occurs, the next resistances are at 62.19 and 62.66. If Bitcoin dominance rises, and the market drops, altcoins will likely fall significantly. If the market rises, Bitcoin might perform better than altcoins.
📅 Total2 Analysis
As observed, we saw an upward movement in Total2 yesterday after consolidating above the 1.07 area, starting a new upward leg. Currently, this index has reached the resistance at 1.13, and we need to wait and see if it can break this area. Currently, the trigger for a long position is precisely this break of the 1.13 area.
🧩 If this area is breached, the price could move to further resistances at 1.18 or even 1.23. However, if Total 2 is rejected from this area, we might expect another drop, potentially reaching back down to 1.01.
📅 USDT.D Analysis
As seen, yesterday after USDT.D pulled back to the 5.30 area and failed to consolidate above it, we witnessed a significant drop. This initial downward leg saw the price even rise above the 5.08 area, and this morning, after pulling back to this area, as you can see, dominance continues to trend downward with the next significant support at 4.82, which I believe could be reached.
🎲 I don't have much else to say about this dominance because I don't have any specific triggers for today.
📌 Overall, I don't have any specific triggers in the market today; we had one yesterday that was activated, but today I can't specify any particular triggers for you, and it's better to be an observer and wait for significant news from the US, especially the meeting that Trump is expected to hold on Friday, which could be very decisive for the market's future.
❌ 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: t.me/FireHoseReel
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
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!
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
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.