Hello dear friends I hope you have used Bitcoin and Tether Dominance analysis (I informed the exact date of the previous 2 corrections)
We are at a stage of the market where it is very difficult to overcome greed, be sure that if the market was going to make more profit than this, I would have opened a long leverage position of 3 or 5 right now, but it is not the case.
Some friends say that Tether has minted 9 billion dollars during this period, this is a bullish sign, well, in the history of crypto, Tether has minted almost another 90 billion dollars, but it has never been able to break its long-term support line (Tether Dominance Analysis). So from the psychological point of view, it has a strong impact on the price.
2 simple technical tips to prove the weakening of the Bitcoin trend: 1- After breaking the resistance of 53,000 to 54,000, in the 4-hour or daily time frame, the price moved without a pullback, and as you can see, a FOMO wave was formed.
2- This Fomo wave has formed 3 FVG (price gap) in a row, which technically closes sooner or later when the price reaches this area.
Taking into account Bitcoin charts, Bitcoin Dominance, Tether, and proximity to halving, the probability of price correction is higher than increase, so I open a short position with leverage of 3-5% and place stop loss 2-3% higher than time limit, in order to manage capital and risk. I will place it from the historical ceiling (target range of 53-54 thousand)
Friends, pay attention, maybe a pattern will form in the lower time frame (1 hour or 30 minutes) and its ceiling will break, but this movement is nothing but a bullish trap.
Time analysis: I think the time range from March 11th to 25th, is the golden 14 days of the market to enter the corrective phase, note that the market maker is in control of the media and will do anything to make people excited.
I suggest you read the previous 2 analyzes. I would be happy if you share your opinion with me. Give me energy by liking and following me.
Trade active
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Trade active
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It's possible that we might experience a bull trap to around 72,000 $ in the next 3 days. Be careful.