👋 Welcome to TradeCity Pro!
Let’s analyze Bitcoin. Since yesterday, Bitcoin hasn’t made any significant moves, so today I’ll analyze it for you on the 1-hour timeframe.
⏳ 1-Hour Timeframe
Since yesterday, Bitcoin has been sitting on a support level around 114612 and has touched this zone twice in the 1-hour chart.
📊 The volume has dropped significantly, which makes sense because it’s the weekend, and traders are waiting to see where the market will move in the coming week.
✔️ In my opinion, given Powell’s speech was positive for the market, the probability of Bitcoin turning bullish is higher, and with long position triggers being activated, the chance of profit increases.
⚡️ If the 115497 zone is broken, we can open a risky long position. I recommend keeping an eye on Bitcoin dominance while this trigger is being activated — if it’s still in a downtrend, then it’s better to open the position on altcoins.
✨ On the other hand, if the price moves downward, we can open a short position by breaking 114612. Personally, I still don’t think shorting is logical, and until I get confirmation of a trend reversal in higher cycles, I won’t open short positions.
🔽 But if you want to short, it should be for a short-term trade down to the 112233 support zone.
❌ 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.
