TradeCityPro | Bitcoin Daily Analysis #269

👋 Welcome to TradeCity Pro!
Let’s take another look at Bitcoin. Compared to yesterday, the market hasn’t moved to any major new area, but let’s check the chart again to re-identify potential opportunities.

⌛️ 1-Hour Timeframe
Yesterday was Saturday and market volume was very low. Because of that, Bitcoin didn’t show much volatility. Also, since Bitcoin dominance dropped a bit yesterday, some altcoins managed to make attractive upward moves.

📊 But on Bitcoin itself, as I mentioned, there wasn’t any significant movement and price mostly stayed in a range throughout the day.

✔️ Our long trigger is still the 71,616 area. I’m not paying attention to the RSI divergence that has formed, because just like we saw in the previous analysis, RSI is currently giving false signals and isn’t reliable right now.

🔽 For short positions, my preference is for the market to first form a lower high and lower low below 68,436, and then look for short setups.

🔔 However, if price reacts to this 68,436 area and tests it one or two times, we can also open a short position on the break of that level.

The main short triggers remain 65,402 and 62,824.

❌ 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.