TradeCityPro | Bitcoin Daily Analysis #261
👋 Welcome to TradeCity Pro!
Let’s move on to Bitcoin analysis. After the recent sharp drop, the market is now going through an upward corrective move.
⏳ 1-Hour Timeframe
After Bitcoin’s bearish move down to the 62,824 support, it entered a corrective phase and has so far retraced up to 71,670.
✔️ During this correction, volume has decreased, which confirms the strength of the bearish trend. Now, as a new bearish leg appears to be starting, selling volume is increasing again, further supporting the continuation of the downtrend.
✨ At the moment, the short trigger we have on Bitcoin is 67,735. This trigger remains valid as long as price does not stabilize above 71,670, and we can open a short position on a clean break of this level.
💥 The main short trigger is still the break of 62,824. That said, in my view, if price continues lower, it will likely react to another low and form a new structure before moving further down—but for now, 62,824 remains our key trigger.
📊 For long positions, we have a very risky trigger at the break of 71,670. This setup is only worth considering if buying volume starts to increase, and even then, it should be taken with minimal risk.
🔔 The main long trigger will only be confirmed after a trend change on higher timeframes, such as the 4-hour and daily charts.
❌ 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.