TradeCityPro | Bitcoin Daily Analysis #223

👋 Welcome to TradeCity Pro!
Let’s dive into the Bitcoin analysis. Yesterday, Bitcoin made a fake downward move and is now back in its range box.

⏳ 1-Hour Timeframe
Yesterday, the short triggers we had at 95,212 and 94,335 were activated, and the price moved slightly downward. However, this bearish move turned out to be a fakeout, and the price started moving upwards again.

✅ Currently, the price has moved above 95,212 and managed to stabilize above this level. The next resistance zone for Bitcoin is at 96,476.

⚡️ The 96,476 zone was faked yesterday, and after a candle closed above it, the price moved downward. Now, we need to wait for the price’s next reaction to this level to refine the exact breakout point.

✨ After this encounter, we can open a risky long position if the level breaks on the next attempt. The next target above this level is 98,136.

📊 For a short position, since the price faked the bottom of the range, the chart is a bit messy. I personally prefer to wait for the price to establish more structure and for a new trigger to form. We can then open a new position upon the breakout of the next trigger.

💼 For previously opened short positions, we can move the stop loss above the 96,476 level.

❌ 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.