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Let’s move on to today’s Bitcoin analysis. The market is currently in a correction phase after the bearish leg it experienced yesterday.
⏳ 1-Hour Timeframe
After the drop Bitcoin made, even fake-breaking the 85,220 level,
✔️ the price has started its correction, reaching up to 87,088.
🔔 During this correction, a Head & Shoulders pattern has formed, with the activation trigger being the 87,088 level.
💥 If this pattern gets activated, deeper corrections could follow.
The next resistance zone to watch is 89,082.
📊 Market volume has increased with the start of the new week, but during this correction, the volume is decreasing. This indicates that the downtrend still holds strength, and the likelihood of the trend continuing remains high.
💡 In this case, we can open a short position either after a fakeout at 89,082 or by confirming a Dow Theory breakdown.
The main short trigger right now is the 85,220 level.
📈 For a long position, breaking 89,082 is a risky trigger.
Personally, I prefer to wait for more confirmation before deciding to enter a long position on Bitcoin.
❌ 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 today’s Bitcoin analysis. The market is currently in a correction phase after the bearish leg it experienced yesterday.
⏳ 1-Hour Timeframe
After the drop Bitcoin made, even fake-breaking the 85,220 level,
✔️ the price has started its correction, reaching up to 87,088.
🔔 During this correction, a Head & Shoulders pattern has formed, with the activation trigger being the 87,088 level.
💥 If this pattern gets activated, deeper corrections could follow.
The next resistance zone to watch is 89,082.
📊 Market volume has increased with the start of the new week, but during this correction, the volume is decreasing. This indicates that the downtrend still holds strength, and the likelihood of the trend continuing remains high.
💡 In this case, we can open a short position either after a fakeout at 89,082 or by confirming a Dow Theory breakdown.
The main short trigger right now is the 85,220 level.
📈 For a long position, breaking 89,082 is a risky trigger.
Personally, I prefer to wait for more confirmation before deciding to enter a long position on Bitcoin.
❌ 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.
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🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
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🤵 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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.