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Let’s get into Bitcoin analysis. Yesterday, Bitcoin’s decline continued, and now, after finding support at its key support zone, it is showing an attractive entry point for opening a position.
⏳ 4-Hour Timeframe
Yesterday, Bitcoin made another bearish leg and dropped close to the 112233 zone.
✔️ The recently closed 4-hour candle shows market indecision since it came with high volume and left large wicks on both sides, signaling a battle between buyers and sellers.
💥 The RSI oscillator still hasn’t dropped below the 30 zone and was supported there. Breaking this level would trigger another bearish leg toward 110000.
📊 If 112233 breaks, we can open a short position. It’s not a bad trigger, and the break of this zone would be the first sign of a trend change.
⚡️ However, I personally am still waiting for confirmation of the main trend and won’t open any position yet. For shorts, I think it’s still too early, and for longs, the structure hasn’t formed properly.
🔍 If today Bitcoin makes a bullish leg and climbs above 114790, then tomorrow we can consider opening a long position. But for now, no suitable trigger has been formed yet.
❌ 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 get into Bitcoin analysis. Yesterday, Bitcoin’s decline continued, and now, after finding support at its key support zone, it is showing an attractive entry point for opening a position.
⏳ 4-Hour Timeframe
Yesterday, Bitcoin made another bearish leg and dropped close to the 112233 zone.
✔️ The recently closed 4-hour candle shows market indecision since it came with high volume and left large wicks on both sides, signaling a battle between buyers and sellers.
💥 The RSI oscillator still hasn’t dropped below the 30 zone and was supported there. Breaking this level would trigger another bearish leg toward 110000.
📊 If 112233 breaks, we can open a short position. It’s not a bad trigger, and the break of this zone would be the first sign of a trend change.
⚡️ However, I personally am still waiting for confirmation of the main trend and won’t open any position yet. For shorts, I think it’s still too early, and for longs, the structure hasn’t formed properly.
🔍 If today Bitcoin makes a bullish leg and climbs above 114790, then tomorrow we can consider opening a long position. But for now, no suitable trigger has been formed yet.
❌ 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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🤵 Business Contact: [email protected]
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
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: [email protected]
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
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.