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Let’s dive into the analysis of Bitcoin and key crypto indexes. As usual, in this analysis I want to review the futures triggers for the New York session.
⏳ 1-Hour Timeframe
In the 1-hour timeframe, as you can see, Bitcoin has formed a slightly better structure and it seems to be undergoing a trend-aligned correction.
✔️ A trend-aligned correction happens when the market enters a corrective phase, but the sellers are so weak that they can’t even stop the price from rising during the correction, and the price gradually moves upward.
🔑 In this case, since the market is in a corrective phase, if we enter with a tight stop loss, we are likely to get stopped out due to the nature of corrections. So it's better to open positions with a wider stop loss so it doesn't get triggered easily.
📊 One thing to note on the current Bitcoin chart is that we are very close to its most important resistance at 106247. This zone is a very strong supply area, and I think breaking through it won’t be easy.
⚡️ So for now, I suggest not opening any new positions on Bitcoin and instead using dominance charts to open positions on altcoins.
📈 If you already have an open position, I recommend keeping your Bitcoin position open, because if 106247 breaks, your position could become highly profitable.
👑 BTC.D Analysis
Let’s move on to Bitcoin dominance. Yesterday, after breaking the 63.61 level, there was another downward leg down to the 62.65 area, and altcoins made another upward move.
⭐ Currently, the dominance is correcting and has risen to the 63.29 area. I think it’s going through a slight correction since its drop was sharp and needs a bit of a breather.
💥 However, if the 62.65 low gets broken, we can take it as confirmation of the next bearish leg, and if that happens, we can again open positions on altcoins.
📅 Total2 Analysis
Now to the Total2 analysis. Yesterday, this index got rejected from the 1.24 top and slightly corrected, but it hasn’t reached the 1.17 area which overlaps with the 0.236 Fibonacci level, so we still haven’t confirmed the start of a correction.
✨ In my opinion, as long as we stay above the 0.382 level, the uptrend remains strong. Only after breaking below this area will we confirm the start of a deeper correction.
🔼 For continuation of the trend, breaking above 1.24 would allow us to open positions on altcoins.
📅 USDT.D Analysis
Now to Tether dominance. This index also broke below 4.63 yesterday and dropped to 4.51, and is currently correcting.
🧩 To get confirmation from Tether dominance, a break below 4.51 would signal that we can open long positions on altcoins.
🎲 The simultaneous break of 4.51 and 1.24 could be a strong confirmation if dominance continues to decline.
❌ 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 key crypto indexes. As usual, in this analysis I want to review the futures triggers for the New York session.
⏳ 1-Hour Timeframe
In the 1-hour timeframe, as you can see, Bitcoin has formed a slightly better structure and it seems to be undergoing a trend-aligned correction.
✔️ A trend-aligned correction happens when the market enters a corrective phase, but the sellers are so weak that they can’t even stop the price from rising during the correction, and the price gradually moves upward.
🔑 In this case, since the market is in a corrective phase, if we enter with a tight stop loss, we are likely to get stopped out due to the nature of corrections. So it's better to open positions with a wider stop loss so it doesn't get triggered easily.
📊 One thing to note on the current Bitcoin chart is that we are very close to its most important resistance at 106247. This zone is a very strong supply area, and I think breaking through it won’t be easy.
⚡️ So for now, I suggest not opening any new positions on Bitcoin and instead using dominance charts to open positions on altcoins.
📈 If you already have an open position, I recommend keeping your Bitcoin position open, because if 106247 breaks, your position could become highly profitable.
👑 BTC.D Analysis
Let’s move on to Bitcoin dominance. Yesterday, after breaking the 63.61 level, there was another downward leg down to the 62.65 area, and altcoins made another upward move.
⭐ Currently, the dominance is correcting and has risen to the 63.29 area. I think it’s going through a slight correction since its drop was sharp and needs a bit of a breather.
💥 However, if the 62.65 low gets broken, we can take it as confirmation of the next bearish leg, and if that happens, we can again open positions on altcoins.
📅 Total2 Analysis
Now to the Total2 analysis. Yesterday, this index got rejected from the 1.24 top and slightly corrected, but it hasn’t reached the 1.17 area which overlaps with the 0.236 Fibonacci level, so we still haven’t confirmed the start of a correction.
✨ In my opinion, as long as we stay above the 0.382 level, the uptrend remains strong. Only after breaking below this area will we confirm the start of a deeper correction.
🔼 For continuation of the trend, breaking above 1.24 would allow us to open positions on altcoins.
📅 USDT.D Analysis
Now to Tether dominance. This index also broke below 4.63 yesterday and dropped to 4.51, and is currently correcting.
🧩 To get confirmation from Tether dominance, a break below 4.51 would signal that we can open long positions on altcoins.
🎲 The simultaneous break of 4.51 and 1.24 could be a strong confirmation if dominance continues to decline.
❌ 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.