TradeCityPro | Bitcoin Daily Analysis #83👋 Welcome to TradeCity Pro!
Let’s dive into the Bitcoin analysis and key crypto indices. As usual, I want to review the triggers for the New York futures session.
🔍 Today, I’ll provide the analysis in the 4-hour timeframe, since not much has changed on the 1-hour chart compared to yesterday, and it's better to take a slightly longer-term look at the chart.
⏳ 4-Hour Timeframe
As you can see in the 4-hour chart, we have an upward leg that started from the 84,000 zone and extended to 97,108. Currently, it's ranging between 93,626 and 95,370.
✔️ The main market top lies at 97,108, but the price has formed a range slightly lower, with 93,626 acting as support.
⚡️ There's a strong divergence visible in the RSI — while Bitcoin has formed three consecutive higher highs, RSI has printed lower highs. This divergence was activated when RSI broke below 50, and the price corrected to 93,626.
📊 In my opinion, the market has now digested the divergence, but the impact it had was a correction down to this level. If 93,626 breaks, deeper corrections could follow.
✨ The 93,626 zone overlaps with the 0.236 Fibonacci retracement and forms a PRZ. If this level breaks, we can open a short position. I open this kind of trade in lower timeframes as a scalp and take quick profits, since it’s counter-trend.
🔽 The maximum short-term target I expect for this trade is the 91,945 area. It's possible that the price corrects further or even reverses trend, but it's not logical in my strategy to hold these kinds of trades longer.
🔑 The key supports ahead are 91,945 (which overlaps with 0.382 Fibonacci), and further down are the 0.5 and 0.618 Fibonacci levels.
📈 For a long position, breaking 95,370 is currently the best trigger. You can also enter on a break of 97,139, but there's strong resistance at 98,828 that could halt the upward move.
🔼 If the price corrects and reaches 91,945, you can consider a long entry based on the price’s reaction to the supports I mentioned.
👑 BTC.D Analysis
Let’s move on to Bitcoin dominance. On the 4-hour chart, there’s an ascending channel where price is moving, with multiple touches. Right now, it’s testing resistance at 64.91.
☘️ If this level breaks, dominance could move up to the top of the channel. There’s also a very important static resistance at 65.59. If price reaches this area, we need to watch its reaction.
📅 Total2 Analysis
Now onto Total2. Similar to Bitcoin, it had a bullish leg, but corrected more deeply — down to the 0.382 Fibonacci retracement, and now it’s at the 1.01T support.
⭐ If this zone breaks, the next supports are at the 0.5 and 0.618 Fibonacci levels. There’s also a strong support at 980B, and the major bottom is at 932B.
📉 For a short position, breaking 1.01T is suitable. For a long position, a bullish reaction from this same area is a good trigger. The main long trigger is the break of 1.05T.
📅 USDT.D Analysis
Let’s move to Tether dominance. This indicator has reached a major top at 5.19. If this level breaks, it can move upward.
👀 If it breaks, the next resistance is 5.37. This move would coincide with a market correction or drop.
📊 To confirm a bearish Tether dominance (bullish market), rejection from 5.19 is a good trigger. The main trigger is still the break of 4.99.
❌ 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.
