TradeCityPro | Bitcoin Daily Analysis #1
2025-02-10
Category: None

👋 Welcome to TradeCityPro!  
This is the first analysis in the Bitcoin series on the channel, which will be uploaded daily. In this series, we will analyze futures triggers that can provide us with positions on the same day. Therefore, most of the analyses will be conducted in lower timeframes.

✨ However, in today’s analysis, I will also cover Bitcoin in higher timeframes since this is the first analysis and needs to be comprehensive.

 📅 Weekly Timeframe 
In the weekly timeframe, we see a strong uptrend where the last leg started from the 54,900 bottom and moved up to the 104,700 resistance. The candle volume has been mostly bullish, aligning with the uptrend.

🔍 urrently, the price is resting below the 104,700 resistance, and the last weekly candle, which closed just yesterday, resembles a rolling pin, indicating indecision among buyers and sellers as the price moved both up and down but ultimately closed in a range.

💥 n RSI, there are two crucial support levels. The first is at 61.85, which RSI is currently near, and if it reacts positively to this level, a new bullish momentum could enter the market. The next support is at 43.90, a critical level for market momentum. As long as RSI stays above this level, bullish momentum remains in the market.

🔼 For the next bullish leg to start, RSI likely needs to enter the overbought zone, attracting more buyers and initiating the next wave. In terms of price action, breaking the 104,700 resistance would be the best trigger for the next move.

⚡️ On the other hand, the price has so far corrected to the 0.236 Fibonacci level near 90,000 and still has the potential for further corrections. If it continues, the next support levels are at the 0.382 and 0.618 Fibonacci zones, which overlap with 81,800 and 70,000, respectively.

📣 Since this series will have daily updates and we will analyze the weekly timeframe after each weekly candle closes, I won’t discuss lower supports or higher resistances until the time is right.

 📅 Daily Timeframe 
In the daily timeframe, the price is ranging between 91,925 and 106,612. As seen, the price has been rejected from the range high for the second time and has dropped to 96,312.

🧩 Bearish momentum has been decreasing since reaching the 96,312 support, and a rounding formation is gradually forming. A positive aspect is that if Bitcoin establishes a bottom in this zone and moves toward the range high again, it will create a higher low compared to the 91,925 support, increasing the chances of a breakout to the upside.

📊 The volume of the last red candles in the bearish leg has been quite low. In the two recent green candles from yesterday and today, the volume is also very low, meaning the price might soon start its movement. So, it’s best to move to lower timeframes to find a suitable futures trigger.



 ⌛️ 4-Hour Timeframe 
In this timeframe, I won’t analyze much but will instead focus on identifying futures triggers.

🔽 For a short position, the setup is quite clear. There is a solid trigger at 95,798, which the price has tested multiple times, making it a reliable trigger. Since this short position is being opened within the range and near the range low, it should be taken quickly and secured at low risk-to-reward ratios like 2 or 3. It is not an ideal trigger for a long-term trade.

📈 For a long position, the first trigger was the breakout of 97,304, which has already happened, and the price has confirmed above this level. If you haven’t taken a position on this breakout, you can enter on a pullback if a suitable candle forms or if there’s a trigger in lower timeframes. Keep in mind that this trigger is the riskiest, so enter with minimal risk.

✔️ The next long trigger is at 98,937, which is more reliable. If the price stabilizes above this level, we can expect a bullish leg toward the range high.



 ⌛️ 1-Hour Timeframe 
In this timeframe, as seen, the price is pulling back to the 97,304 level while engulfing the previous red candles. RSI is also stabilizing above 64.12. If the candle closes as it is, a long position will be suitable. The key resistance level is at 99,730.

📉 For a short position, the trigger remains similar to the 4-hour timeframe. However, since the price has faked this level in this timeframe, we should wait for another reaction at this area to confirm the actual trigger point.

⭐️ Now, let's analyze the dominance charts. A full dominance analysis will be provided separately. The Total2 analysis will be posted tonight, and the USDT.D and BTC.D analyses will be done tomorrow, but for now, they will be reviewed in the 1-hour timeframe.



 ⌛️ BTC.D Analysis 
In the 1-hour timeframe, we see Bitcoin dominance increasing after reaching the 61.34 bottom, which has contributed to Bitcoin’s recovery following the fake breakdown at 95,798.

👑 If dominance stabilizes above 62%, more money will flow into Bitcoin. In this scenario, if the market moves upward, Bitcoin will rise more than most altcoins, and if the market drops, Bitcoin will decline less than others. The main resistance is at 62.66.

💫 On the other hand, if dominance falls below 61.34, less money will enter Bitcoin. In a bullish market, Bitcoin will underperform altcoins, and in a bearish market, Bitcoin will drop more significantly.



 ⌛️ Total2 Analysis 
In the 1-hour timeframe, the 1.22 level in Total2 overlaps with 97,304 in Bitcoin. However, as seen, Total2 is still below this support and hasn’t confirmed above it yet. The reason is the increasing Bitcoin dominance, causing altcoins to move less than Bitcoin.

☀️ The main resistance in Total2 at this timeframe is 1.28, which is also the key long trigger.

🔽 For a short position, Total2 offers a better trigger than Bitcoin. If Total2 breaks below 1.16 while Bitcoin dominance increases, shorting altcoins will be a better option than Bitcoin.



 ⌛️ USDT.D Analysis 
As seen, the candle has closed below the 4.51 support in this index, and it has more overlap with Bitcoin than Total2.

✔️ The trigger for an increase in USDT dominance is 4.64, which would lead to a market decline. The alignment of this trigger with the short triggers in Total2 and Bitcoin could provide strong confirmation for those trades.

🔑 For a long position, breaking below the 4.40 support in this index would be a good signal. The main support is currently at 4.22, and if this level is broken, the market could begin its next bullish leg.



 📝 Final Thoughts

This analysis reflects our opinions and is not financial advice. 

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️