Daily Market Outlook: BTC, Forex & SPX Setups (#4)
Hope you’re all having a great start to the week! I’m Skeptic, and today we’ll break down BTC, Forex, and a key setup on SPX.
📉 BTC Analysis – Stuck in a Range, But Not for Long!
BTC is currently range-bound after getting rejected from 107K. The range is wide and indecisive, signaling that the market is waiting for a strong catalyst before making its next move.
📊 Key Observations:
Low volume & high volatility = poor R/R for trades inside the range.
Breakout traders should wait for confirmation:
✅ Bullish Breakout: Above $98,455, or even earlier if momentum kicks in.
🔻 Bearish Breakdown: Below 95K, which could trigger a stronger move down.
⚠ Until a breakout happens, trading inside this range isn’t ideal due to stop hunts and fake moves.
📊 BTC.D Dropping – Is Altcoin Season Heating Up?
BTC dominance (BTC.D) has been declining recently, which suggests capital rotation into altcoins.
📊 Why This Matters?
Coins like XRP, BNB, and CAKE have started to gain traction.
Watching BTC.D is crucial—it helps determine if money is staying in BTC or shifting to alts.
A continued BTC.D drop could mean more upside for alts.
📉 DXY (Dollar Index) – Entering a Deeper Correction?
We’ve been talking about DXY weakness for a while, and now, after breaking below 107.311, we’re seeing a deeper correction.
📊 Potential Targets Based on Fibonacci:
✅ 105.677 (first level)
✅ 103.306 (deeper retracement)
💡 Since DXY is weak, we might see strength in EUR pairs and stock indices this week.
📈 SPX500 – Major Breakout Watch!
SPX500 has been in a long consolidation phase after hitting an all-time high of 6113.92. Now, it’s approaching 6128.89—its key resistance level.
📊 Trade Setup:
✅ Long Entry: Above 6128.89, with confirmation.
✅ Why This Level? A breakout and confirmation could signal continuation of the uptrend.
✅ Extra Tip: Using momentum indicators like SMA & RSI can help filter out fake breakouts.
Final Thoughts & Risk Management
⚠ BTC is still ranging—stay patient and wait for clear structure before trading.
⚠ DXY weakness could support stocks & EUR pairs this week.
⚠ SPX breakout setup looks promising but needs confirmation.
💬 I’m Skeptic, and I’ll see you tomorrow with another market breakdown! 🚀
⚠ Disclaimer: These trade setups are based on my personal analysis and are not financial advice. If you don’t have a solid risk management plan, these triggers may not be suitable for you. Always do your own research (DYOR) and trade at your own risk. 💡
📉 BTC Analysis – Stuck in a Range, But Not for Long!
BTC is currently range-bound after getting rejected from 107K. The range is wide and indecisive, signaling that the market is waiting for a strong catalyst before making its next move.
📊 Key Observations:
Low volume & high volatility = poor R/R for trades inside the range.
Breakout traders should wait for confirmation:
✅ Bullish Breakout: Above $98,455, or even earlier if momentum kicks in.
🔻 Bearish Breakdown: Below 95K, which could trigger a stronger move down.
⚠ Until a breakout happens, trading inside this range isn’t ideal due to stop hunts and fake moves.
📊 BTC.D Dropping – Is Altcoin Season Heating Up?
BTC dominance (BTC.D) has been declining recently, which suggests capital rotation into altcoins.
📊 Why This Matters?
Coins like XRP, BNB, and CAKE have started to gain traction.
Watching BTC.D is crucial—it helps determine if money is staying in BTC or shifting to alts.
A continued BTC.D drop could mean more upside for alts.
📉 DXY (Dollar Index) – Entering a Deeper Correction?
We’ve been talking about DXY weakness for a while, and now, after breaking below 107.311, we’re seeing a deeper correction.
📊 Potential Targets Based on Fibonacci:
✅ 105.677 (first level)
✅ 103.306 (deeper retracement)
💡 Since DXY is weak, we might see strength in EUR pairs and stock indices this week.
📈 SPX500 – Major Breakout Watch!
SPX500 has been in a long consolidation phase after hitting an all-time high of 6113.92. Now, it’s approaching 6128.89—its key resistance level.
📊 Trade Setup:
✅ Long Entry: Above 6128.89, with confirmation.
✅ Why This Level? A breakout and confirmation could signal continuation of the uptrend.
✅ Extra Tip: Using momentum indicators like SMA & RSI can help filter out fake breakouts.
Final Thoughts & Risk Management
⚠ BTC is still ranging—stay patient and wait for clear structure before trading.
⚠ DXY weakness could support stocks & EUR pairs this week.
⚠ SPX breakout setup looks promising but needs confirmation.
💬 I’m Skeptic, and I’ll see you tomorrow with another market breakdown! 🚀
⚠ Disclaimer: These trade setups are based on my personal analysis and are not financial advice. If you don’t have a solid risk management plan, these triggers may not be suitable for you. Always do your own research (DYOR) and trade at your own risk. 💡
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لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.