**⏰ Timeframe: 1H**
**🛠 Tools Used: Dow Theory, Support & Resistance, Volume, RSI**
**📈 Market Overview**
Bitcoin
BTCUSDT is currently trading at **110,982**. After hitting a new all-time high at **12K**, the price is undergoing a mild correction. Despite the retracement, price remains supported by both volume and the 25-period moving average.
Yesterday, BTC broke through the **110,267** resistance level with a strong bullish candle, but encountered aggressive selling from market makers and is now consolidating with weak candles below the **12K** mark.
Typically, in such market phases, it’s advisable to close previous positions and consider new entries. However, given the likelihood of **interest rate cuts** and the fact that price is holding near its ATH, keeping previous **long positions** open may be wise, as a **strong upward move** is still on the table.
**⚙️ Technical Analysis**
Yesterday’s breakout above **110,267** was met with seller pressure near **12K**, leading to a shallow correction.
**BTC Dominance (BTC.D)** has broken above **65.04** and **64.69**, moving toward **64.51** resistance. However, a weakening candle structure is visible on both **4H and 1H** timeframes. This indicates that while long opportunities on bullish **BTC pairs** may still exist, we might see a lower high forming above **64.51** and below **64.69**, followed by another move back toward **64.51**.
Meanwhile, **USDT Dominance (USDT.D)** broke below the **4.75** support with a strong candle and is now ranging above **4.63**, suggesting a possible pause or rest phase here.
The **Total Market Cap** shows a similar pattern to **BTCUSDT**, reflecting consolidation with slight bullish bias.
The **Others** chart (excluding BTC & ETH) shows a healthy uptrend and is now facing resistance at **248.68**. A breakout above this level could pave the way for stronger performance among altcoins with bullish BTC pairs.
**🧭 Potential Scenarios**
📗 **Bullish Scenario:**
If BTC forms a **higher low above 110,654**, an entry could be considered above **12,000**, with a stop-loss placed below the higher low (based on the 1H timeframe). Volume confirmation is necessary to support the move.
📕 **Bearish Scenario:**
As long as the price remains **above 109,409**, **short positions are not recommended**.
**💡 Conclusion, Warnings & General Suggestion**
Bitcoin is currently in a **healthy bullish phase**.
The **key resistance at 111K** has been broken, and price is pulling back toward that level.
The structure remains bullish, supported by **sufficient volume** and **no clear bearish divergence**.
If current support holds, there’s potential for continuation toward the **113,500–114,000** range.
⚠️ **Warnings:**
* If the pullback turns into a breakdown (falling below **110,200**, then **109,000**), it would signal **buyer weakness**, and strategy must be reconsidered.
* Watch for **RSI divergences** or **declining volume** during further rallies—they may indicate caution.
* Prolonged consolidation **below broken resistance** could also indicate market weakness.
**🛠 Tools Used: Dow Theory, Support & Resistance, Volume, RSI**
**📈 Market Overview**
Bitcoin
BTCUSDT is currently trading at **110,982**. After hitting a new all-time high at **12K**, the price is undergoing a mild correction. Despite the retracement, price remains supported by both volume and the 25-period moving average.Yesterday, BTC broke through the **110,267** resistance level with a strong bullish candle, but encountered aggressive selling from market makers and is now consolidating with weak candles below the **12K** mark.
Typically, in such market phases, it’s advisable to close previous positions and consider new entries. However, given the likelihood of **interest rate cuts** and the fact that price is holding near its ATH, keeping previous **long positions** open may be wise, as a **strong upward move** is still on the table.
**⚙️ Technical Analysis**
Yesterday’s breakout above **110,267** was met with seller pressure near **12K**, leading to a shallow correction.
**BTC Dominance (BTC.D)** has broken above **65.04** and **64.69**, moving toward **64.51** resistance. However, a weakening candle structure is visible on both **4H and 1H** timeframes. This indicates that while long opportunities on bullish **BTC pairs** may still exist, we might see a lower high forming above **64.51** and below **64.69**, followed by another move back toward **64.51**.
Meanwhile, **USDT Dominance (USDT.D)** broke below the **4.75** support with a strong candle and is now ranging above **4.63**, suggesting a possible pause or rest phase here.
The **Total Market Cap** shows a similar pattern to **BTCUSDT**, reflecting consolidation with slight bullish bias.
The **Others** chart (excluding BTC & ETH) shows a healthy uptrend and is now facing resistance at **248.68**. A breakout above this level could pave the way for stronger performance among altcoins with bullish BTC pairs.
**🧭 Potential Scenarios**
📗 **Bullish Scenario:**
If BTC forms a **higher low above 110,654**, an entry could be considered above **12,000**, with a stop-loss placed below the higher low (based on the 1H timeframe). Volume confirmation is necessary to support the move.
📕 **Bearish Scenario:**
As long as the price remains **above 109,409**, **short positions are not recommended**.
**💡 Conclusion, Warnings & General Suggestion**
Bitcoin is currently in a **healthy bullish phase**.
The **key resistance at 111K** has been broken, and price is pulling back toward that level.
The structure remains bullish, supported by **sufficient volume** and **no clear bearish divergence**.
If current support holds, there’s potential for continuation toward the **113,500–114,000** range.
⚠️ **Warnings:**
* If the pullback turns into a breakdown (falling below **110,200**, then **109,000**), it would signal **buyer weakness**, and strategy must be reconsidered.
* Watch for **RSI divergences** or **declining volume** during further rallies—they may indicate caution.
* Prolonged consolidation **below broken resistance** could also indicate market weakness.
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.
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.