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Let’s move on to Bitcoin analysis. Since we’re heading into the weekend, after Bitcoin faked the breakout of 68,365, the market has started to move upward.
⌛️ 1-Hour Timeframe
Bitcoin has returned to the range between 68,365 and 71,616, and price is currently moving back and forth inside this zone.
🧮 Even though the RSI has entered overbought, we still haven’t seen strong bullish momentum enter the market, and price hasn’t been able to break above 71,616 yet.
🔔 The reason for this is exactly what I mentioned in previous analyses: since the market is ranging and lacks momentum, using momentum oscillators like RSI isn’t very helpful right now and can actually give us misleading signals.
✔️ That’s why, for now, we’re not paying much attention to RSI and are instead taking confirmations and triggers directly from price action. A break above 71,616 would give us a long entry trigger. At the moment, the chart hasn’t formed any other valid trigger for us.
✨ If price reacts to 68,365, we can look for a position from the second touch onward, once that level breaks. The next triggers after that will be 65,402 and 62,824.
❌ 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.
Let’s move on to Bitcoin analysis. Since we’re heading into the weekend, after Bitcoin faked the breakout of 68,365, the market has started to move upward.
⌛️ 1-Hour Timeframe
Bitcoin has returned to the range between 68,365 and 71,616, and price is currently moving back and forth inside this zone.
🧮 Even though the RSI has entered overbought, we still haven’t seen strong bullish momentum enter the market, and price hasn’t been able to break above 71,616 yet.
🔔 The reason for this is exactly what I mentioned in previous analyses: since the market is ranging and lacks momentum, using momentum oscillators like RSI isn’t very helpful right now and can actually give us misleading signals.
✔️ That’s why, for now, we’re not paying much attention to RSI and are instead taking confirmations and triggers directly from price action. A break above 71,616 would give us a long entry trigger. At the moment, the chart hasn’t formed any other valid trigger for us.
✨ If price reacts to 68,365, we can look for a position from the second touch onward, once that level breaks. The next triggers after that will be 65,402 and 62,824.
❌ 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.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.