TradeCityPro | Bitcoin Daily Analysis #38👋 Welcome to TradeCity Pro!
Let's dive into the Bitcoin analysis and key crypto indexes. As usual, I will review the futures triggers for the New York session for you.
✨ Yesterday, our short trigger was activated, and the price moved downward but then moved back up after a few candles.
⏳ 1-hour timeframe
In the 1-hour timeframe, as I mentioned, the trigger at 82066 that I specified for you yesterday was activated, but I personally opened my position at the break of 82459 because there was good downward momentum in the market, and the candle that broke this area was very strong.
🔄 The position I opened went to a risk-to-reward of 2 and became risk-free, and then the market moved upwards, now reaching 83806.
💫 Today, for opening positions, our long trigger is exactly 83906, and if the price breaks this area, we could see the next upward leg. I prefer that the price reacts to this area once and then breaks through it.
✔️ However, be aware that there is another important area at 84573 and a significant range has formed between 83906 and 84573. If you want to open a position confidently, wait until 84573 is also broken so the price can fully exit this range.
⚡️ A break of 62.94 in the RSI can be a good confirmation of momentum. As you can see, the volume is gradually increasing, which is suitable for a long position.
🔽 For short positions, you can still enter with a break of 82459. It's better to wait for the price to react to this area once and look for a break on the second contact.
👑 BTC.D Analysis
Let's move on to the analysis of Bitcoin dominance. As you can see, a descending triangle has formed, and the price has a downward trend line that has caused it to set a lower high every time it reaches 61.49, and now there is a very high chance of breaking this area, which could start a new downward leg in dominance.
👀 On the other hand, if the trend line breaks, dominance could move back up to 62.03. If this happens, money will move out of altcoins and into Bitcoin.
📅 Total2 Analysis
Let's move on to the analysis of Total2. This index still hasn't exited its ranging box and is moving between 1.01 and 1.04.
🔼 You can open a long position with a break of 1.04 and a short position with a break of 1.01.
📅 USDT.D Analysis
Let's look at the USDT.D analysis. Yesterday, the 5.43 area was broken, but like Bitcoin, after a few candles, this area was faked, and the price returned to the box between 5.28 and 5.43.
🔑 For confirming a downward trend in Tether dominance, you can confirm with a break of 5.28. For an upward trend in dominance, you should wait until the price creates a new structure.
❌ 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.
