TradeCityPro | Bitcoin Daily Analysis #263

👋 Welcome to TradeCity Pro!
Let’s move on to Bitcoin analysis. Today, the market may continue its bearish move.

⌛️ 1-Hour Timeframe
On this timeframe, after getting rejected from the 71,616 high, Bitcoin is moving down toward its support at 67,735.

🔍 At the moment, price has reacted around 68,732, and it could now enter a ranging phase. In that case, we can look to open a short position on a break of 68,732.

📊 Otherwise, we can wait and look for a short entry on the break of 67,735.

✨ For long positions, our trigger remains the break of 71,616. If buying volume starts to increase, we can enter a long position once this level is broken.

⚡️ A break above 71,616 would give us the first bullish signal, and after that, forming higher highs and higher lows above this area would confirm a trend reversal to the upside.

✔️ However, if the short trigger at 67,735 gets activated, price could move toward 62,824. A break below 62,824 would then signal the start of the next bearish leg.

❌ 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.