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Let’s move on to Bitcoin analysis. Bitcoin is still ranging with low volume. Let’s see what could happen to Bitcoin in the coming week.
⏳ 1-Hour Timeframe
Yesterday, Bitcoin rose from its support zone and, by breaking 117837, it managed to hold above this level.
📊 The volume is still very low and will probably remain so until the new weekly candle opens. But if the volume increases, with the break of the 119096 zone we can open a long position.
📈 For long positions, my preference is still on altcoins because Bitcoin dominance is falling and the money flowing into altcoins is more than into Bitcoin.
✔️ If 119096 is broken and dominance continues to fall, altcoins can once again have an upward move and I will open a new position on altcoins.
🔔 On the other hand, if with the start of the new weekly candle the price holds below 116829, it is very likely the market will go into correction and range for the whole week. But if its initial move is bullish and it breaks the 119096 high, a new bullish leg for the market can begin.
❌ 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.
