BTCUSDT Analysis. I am short!! Swing Signal!!
Hello everyone. i want share my idea about Bitcoin.
Bitcoin had a pretty good year, we saw bullish price action which started one year ago and it gave us price action from 16200 to 44500 which is pretty good percentage, but what we will have in 2024, in my opinion price will fall down again and here is some reasons why i think that. with technique analysis at 44500 we had monthly resistance where we see price strong rejection once but it touched second time and it got same reaction, but i cant say the reaction was same or not because its Christmas days and we don't have high volume, but if we look at USDT dominance we will see USDT dominance tested weekly support twice, took some liquidity at second touch and got strong buyers which made fake brake out, if we look USDT Dominance at higher timeframe (1M,1W) we will see its in strong uptrend and this fall was correction of this trend.
I think if i will be right and at start of year we will get bearish movement its possible to get next year bearish, i make some analysis at bitcoin, but i trust more to USDT Dominance analysis, with my trading strategy i am bearish at bitcoin where i have some scenes for that.
Scene 1 - Bitcoin had strong reaction from sellers which broke not strong but not weak 4h support where i cant see any strong buyers for think that brake out was fake, at the moment bitcoin testing that resistance and getting some rejection from sellers, if i will be right at the moment it will fall strong which will stop a little bit time to 4h support.
Scene 2 - Bitcoin don't have enough sellers for start bearish movement, for that it will make strong liquidity swing which will stop lot of people and active new sellers, new sellers will short it and we will get strong bearish movement of bitcoin.
Scene 3 - in this scene i will be wrong, bitcoin will go higher, it will not have rejection from monthly support and my swing Position will get stop.
My risk at this trade is 0.8% of my margin. Open position is at 43045, stop loss is at 46500 and take profit, i will follow the trend what i will have.
Always manage your risk and make your own research!!!
I will make some technique analysis at USDT Dominance and share at my TradingView page.
Bitcoin had a pretty good year, we saw bullish price action which started one year ago and it gave us price action from 16200 to 44500 which is pretty good percentage, but what we will have in 2024, in my opinion price will fall down again and here is some reasons why i think that. with technique analysis at 44500 we had monthly resistance where we see price strong rejection once but it touched second time and it got same reaction, but i cant say the reaction was same or not because its Christmas days and we don't have high volume, but if we look at USDT dominance we will see USDT dominance tested weekly support twice, took some liquidity at second touch and got strong buyers which made fake brake out, if we look USDT Dominance at higher timeframe (1M,1W) we will see its in strong uptrend and this fall was correction of this trend.
I think if i will be right and at start of year we will get bearish movement its possible to get next year bearish, i make some analysis at bitcoin, but i trust more to USDT Dominance analysis, with my trading strategy i am bearish at bitcoin where i have some scenes for that.
Scene 1 - Bitcoin had strong reaction from sellers which broke not strong but not weak 4h support where i cant see any strong buyers for think that brake out was fake, at the moment bitcoin testing that resistance and getting some rejection from sellers, if i will be right at the moment it will fall strong which will stop a little bit time to 4h support.
Scene 2 - Bitcoin don't have enough sellers for start bearish movement, for that it will make strong liquidity swing which will stop lot of people and active new sellers, new sellers will short it and we will get strong bearish movement of bitcoin.
Scene 3 - in this scene i will be wrong, bitcoin will go higher, it will not have rejection from monthly support and my swing Position will get stop.
My risk at this trade is 0.8% of my margin. Open position is at 43045, stop loss is at 46500 and take profit, i will follow the trend what i will have.
Always manage your risk and make your own research!!!
I will make some technique analysis at USDT Dominance and share at my TradingView page.
