TradeCityPro | Bitcoin Daily Analysis #192

👋 Welcome to TradeCity Pro!
Let's dive into Bitcoin analysis. Today, Bitcoin is still in a consolidation and range-bound phase. Let’s take a look at the current market conditions.

⏳ 1-Hour Timeframe
In yesterday’s analysis, Bitcoin was in the process of breaking the $120,835 level. I mentioned that I wasn't opening any short positions yet, but a rejection of this downward movement could be a good sign for a potential upward move.

⭐ This scenario played out, and the price has now moved back above $120,835, which gives us an opportunity to look for long triggers.

✔️ One trigger that has formed is $121,747, which can be used as a risky trigger for a long position.

📊 Market volume has decreased slightly, so it’s better to wait for an increase in volume when this level is broken, as that would raise the likelihood of an upward move.

📈 The next reliable long triggers we have are $124,094 and $126,042. These triggers are more reliable for a position, but they are currently farther from the price, so the chance of them activating today is lower.

💥 For short positions, I'm still not focusing on them and prefer to focus on long positions. Therefore, I currently don’t have any short triggers to provide.

❌ 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.