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Let’s get into the Bitcoin analysis. Today is the start of the week, and it’s very important to begin our trading week with the right analysis and outlook.
Daily Timeframe
On the daily timeframe, as you can see, not much has changed compared to the previous analysis, and the price is still ranging near the supply zone.
️ The fact that no price correction has occurred so far shows the strength of the buyers, and even if a correction does happen, as long as the price stays above 110183, the trend will still be considered bullish.
🧩 The main trigger for trend continuation is either the price reaction to the curved trendline or the break of 122733. We can find more optimal triggers in the lower timeframes.
⏳ 4-Hour Timeframe
In this 4-hour timeframe, after a fakeout below 116829, the price corrected down to the 0.5 Fibonacci level and now has returned again to the box between 116829 and 120041.
The fakeout trigger is 120041, and I’ll try to have at least two positions open in the market when this level breaks — whether on Bitcoin or altcoins.
The main trigger for the next bullish leg is 122733.
If RSI also breaks the 61.67 resistance alongside 120041, the likelihood of the move continuing will increase.
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.