TradeCityPro | Bitcoin Daily Analysis #266

👋 Welcome to TradeCity Pro!
Let’s move on to Bitcoin analysis. After activating our trigger yesterday, the market is now moving sideways.

⌛️ 1-Hour Timeframe
At the moment, Bitcoin has formed a small range box between 66,037 and 67,841, and after breaking 67,841, price has entered a consolidation phase.

✨ The fact that price started ranging after the break of 67,841, without bearish momentum entering the market, shows that sellers don’t currently have enough strength and haven’t been able to win the battle against buyers.

✔️ On the other hand, buyers haven’t been able to fake this breakout either, so their strength isn’t dominant as well. Overall, we can say that there’s no clear power or momentum in Bitcoin right now.

✨ If price doesn’t spend too much time inside this range and breaks out before the end of today’s New York session, momentum could enter the market.

📊 A break above 67,841 would confirm that the bearish move was fake and signal the entry of bullish momentum.
A break below 66,037 would confirm the continuation of the bearish move.

💥 Personally, I won’t open a long position on the break of 67,841, but I’ll be watching closely in case the market gives a trigger for a risky long position. The main long trigger remains 71,616.

⚖️ For shorts, the 66,037 level is a valid trigger. If you don’t already have a short position, you can enter on a break of this level.

💡 Since the market currently lacks momentum, RSI isn’t very useful right now. We should wait for the next impulsive leg to begin before relying on momentum oscillators again.

❌ 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.