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Let’s dive into the Bitcoin analysis and key crypto indexes. As usual, in this analysis, I’ll review the futures triggers for the New York session.
⏳ 1-Hour Timeframe
On the 1-hour timeframe, the price remains within the same range box between 108619 and 110256, and it is currently sitting at the bottom of that box.
✔️ Since yesterday, market volume has significantly declined — as you can see, there’s practically no real volume in the market.
⭐ On the other hand, it seems the 108619 trigger is about to be activated, and price may move downward. However, personally, as long as market volume stays this low, I prefer not to open any positions.
📊 If we see selling volume entering the market following a break below 108619, I’ll consider opening a short position. But in the current situation, as mentioned, I prefer to stay out of the market.
💥 The RSI oscillator is steadily and gradually declining like a waterfall. This is also due to the lack of volume in the market, which has led to very low price volatility.
⚡️ So for now, it’s better not to rely on RSI data because without volume, RSI readings won’t be useful.
📈 If the price gets supported at the 108619 level with a good buying volume and starts moving toward 110256, the chance of breaking that level will increase significantly.
👀 If that happens, I’ll personally try to open a long position once 110256 breaks. But I think today, Saturday, and Sunday will remain the same in terms of market conditions, and real volume will likely return starting next week.
👑 BTC.D Analysis
Moving on to Bitcoin Dominance, a descending trendline can be drawn here, which has been tested twice and is now being approached again.
☘️ If BTC dominance gets rejected from this trendline and moves downward, it will likely reach the 65.04 support level. If the trendline breaks, the next resistance will be 65.64.
📅 Total2 Analysis
Looking at Total2, you’ll notice it’s showing more bearishness than Bitcoin and has lost the support it formed at the 1.15 level.
💫 This happened because BTC dominance has been rising since yesterday, which means more money has been flowing into Bitcoin than into altcoins.
🔼 The next support level for Total2 is at 1.13, and a potential downside move may reach this zone. The suitable long trigger remains a break above 1.17.
📅 USDT.D Analysis
Finally, USDT Dominance has exited the range box it had formed and climbed back above the 4.78 level.
🎲 If this upward move continues, the next major resistance will be 4.90. However, if this move turns out to be fake, the short trigger for a bearish reversal will be a break below 4.72..
❌ 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.
