TradeCityPro | Bitcoin Daily Analysis #181

👋 Welcome to TradeCity Pro!
Let's dive into Bitcoin analysis, today is Saturday, and it's part of the weekend, so the market is relatively quiet. Bitcoin has shown some bearish movement, and now is a critical moment for decision-making.

⏳ 1-Hour Timeframe
After breaking 111,605, Bitcoin dropped and reached 108,750.

✔️ During the downward move, volume increased, indicating strong selling pressure. However, as the price reached the 108,750 support and formed a range box, volume decreased, and with the start of the Saturday candle, the volume has dropped to its lowest level.

🎲 This box is formed above a very important support level, so breaking this box is crucial.

🔔 If the price breaks the box to the downside, the likelihood of breaking the support increases. However, one important thing to note is that shorting after breaking 108,750 is not an ideal trigger because the price might bounce from the support, causing a stop-loss.

📊 On the other hand, if the box breaks to the upside, we can assume that the price is correcting the downward move and could potentially retrace back to 111,605.

💥 If the price stabilizes above 111,605 or forms a higher high and low above 109,890, we can take this as the first sign of a bullish reversal.

🧩 Overall, neither shorting nor longing seems ideal at the moment, so I believe the best choice is to wait and see if the price either stabilizes below the support and moves downward or moves upward again, in which case we can consider entering a long position.

❌ 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.