TradeCityPro | Bitcoin Daily Analysis #31Welcome to TradeCity Pro!
Let's move on to Bitcoin analysis and important crypto indicators. In this analysis, as usual, I want to review the triggers of the New York Futures Session for you.
1-hour time frame
In the 1-hour time frame, after the price reached 77598, the fall ended and we witnessed an upward correction to the 83281 area.
The 83281 area has become a very important resistance and the price is reacting well to it. A reverse head & shoulder pattern is visible on the chart that has not yet been activated, and with the failure of the 77598 area, we will confirm the activation of this pattern.
If 77598 is broken, the price can move at least to the 83281 area. The next resistances are also within reach of the price, and if strong momentum enters the market, the price can register higher targets.
The buying volume in the market is much less than the selling volume, and the sellers' power is still greater than the buyers'. However, if the 83281 area is broken, this volume can be more in favor of the buyers and the price can move up.
For a short position, if the price rejects the 83281 area or if the failure of this resistance is faked, you can enter a short position with the trigger 81466 to the target 77598.
I have no more talk about Bitcoin, let's move on to the analysis of the indicators so that we can also check the conditions of the altcoins.
BTC.D Analysis
Let's move on to the analysis of Bitcoin Dominance, Dominance has finally stabilized above the 61.61 area and reached the 62.19 area. If this area is broken, Dominance can start its new upward leg.
If Dominance rejects this important ceiling, Dominance's downward leg can continue to 61.61. Dominance's main support is currently 61.08.
Total2 Analysis
Let's move on to Total2 analysis, as you can see, this indicator is at a lower level and has not yet reached the ceiling in the 1.04 area and has recorded its new resistance in the 1.01 area.
The reason for this is Bitcoin's dominance, which has become bullish and more money has entered Bitcoin than altcoins. However, if Dominance breaks 1.01, you can enter a position if Dominance falls.
For short, the first trigger is 984 and the main trigger is 953.
USDT.D Analysis
Let's move on to the Tether Dominance analysis, as you can see, Dominance has broken the trend line it had and is now ready to fall. If it breaks 5.30, you can get confirmation of Tether's Dominance falling.
To confirm Dominance's bullishness, we can get confirmation if it breaks 5.49, which means the market can fall and if these triggers overlap with the Total2 trigger, you can find an altcoin and open a position.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
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