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Let’s move on to the Bitcoin analysis. Today is Saturday, it’s the weekend, and market volume and volatility have dropped significantly.
⏳ 1-Hour Timeframe
The long trigger we had yesterday on Bitcoin was broken, but the market didn’t continue upward, instead, it turned into a fake breakout.
⚖️ The main resistance on Bitcoin remains 93,555, and the price didn’t reach this level. Sellers entered the market earlier than expected and took control before price could reach the resistance.
💫 After this fakeout and with the weekend arriving, trading volume has decreased sharply, the difference in volume before and after the fakeout is very noticeable.
🔭 This low volume has caused the price to slowly drift downward with a very weak slope, and it’s currently fluctuating around the 90,724 zone.
📊 Additionally, because volume is so low, the price is not reacting cleanly to levels and is not respecting them, which is normal when market depth decreases.
✅ At the moment, I don’t think the market is in a good condition to open new positions.
💡 The main resistance zone on Bitcoin is still 93,555, and breaking this level will turn the trend bullish.
✨ As long as the price is above 89,000, I do not consider the trend bearish, but this does not mean the market is bullish either.
🎲 Right now, Bitcoin has no clear trend, and for a new trend to form, we must wait for a confirmed breakout either above 93,555 or below 89,000.
❌ 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 the Bitcoin analysis. Today is Saturday, it’s the weekend, and market volume and volatility have dropped significantly.
⏳ 1-Hour Timeframe
The long trigger we had yesterday on Bitcoin was broken, but the market didn’t continue upward, instead, it turned into a fake breakout.
⚖️ The main resistance on Bitcoin remains 93,555, and the price didn’t reach this level. Sellers entered the market earlier than expected and took control before price could reach the resistance.
💫 After this fakeout and with the weekend arriving, trading volume has decreased sharply, the difference in volume before and after the fakeout is very noticeable.
🔭 This low volume has caused the price to slowly drift downward with a very weak slope, and it’s currently fluctuating around the 90,724 zone.
📊 Additionally, because volume is so low, the price is not reacting cleanly to levels and is not respecting them, which is normal when market depth decreases.
✅ At the moment, I don’t think the market is in a good condition to open new positions.
💡 The main resistance zone on Bitcoin is still 93,555, and breaking this level will turn the trend bullish.
✨ As long as the price is above 89,000, I do not consider the trend bearish, but this does not mean the market is bullish either.
🎲 Right now, Bitcoin has no clear trend, and for a new trend to form, we must wait for a confirmed breakout either above 93,555 or below 89,000.
❌ 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
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Related publications
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
Related publications
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.