TradeCityPro | Bitcoin Daily Analysis #265

👋 Welcome to TradeCity Pro!
Let’s move on to Bitcoin analysis. The market has finally started its bearish move.

⌛️ 1-Hour Timeframe
Yesterday, we had two short triggers on Bitcoin. The first was the break of 68,586, and the second was the break of 67,375.

✔️ If you opened a position on the break of either of these levels, price has now reached the target, and you can take profits.

🔍 That said, I believe there’s still a good chance price continues toward Bitcoin’s main low at 62,824. For that reason, I suggest securing partial profits and keeping the rest of the position open.

💥 If the RSI enters the oversold zone, the probability of this move increases significantly. Volume is also currently in favor of the sellers, with red candles showing stronger volume than green ones.

✨ Based on this, the chances of price moving down toward 62,824 are high. However, if you didn’t enter using yesterday’s triggers, we don’t have a new trigger today on Bitcoin itself, and we need to wait for a new structure to form.

⚖️ If this bearish move that started yesterday turns out to be a fake move, and price manages to stabilize back above 68,586, strong bullish momentum will enter the market, and the probability of breaking the 71,616 high will increase significantly.

🎲 So we need to stay alert and, if yesterday’s move gets invalidated, look for long opportunities.

🔔 As for short positions, just like I mentioned, we don’t have a new trigger today and need to wait for fresh structure to develop.

❌ 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.