TradeCityPro | Bitcoin Daily Analysis #185

👋 Welcome to TradeCity Pro!
Let’s move on to the Bitcoin analysis. Bitcoin’s bullish trend is still continuing, and today during the London session it made another upward move. Let’s review today’s triggers together.

⏳ 1-Hour Timeframe
Yesterday, after the correction, Bitcoin formed a bottom at 112751 and with the RSI being supported at 42.46, the upward move started.

🔔 The trigger we had yesterday for opening a position was the breakout of the resistance zone, with the exact trigger forming at 114652. After the breakout, the price started its second upward wave.

💥 The RSI oscillator has also entered the Overbuy zone, and the market momentum is fully bullish. The next resistance we have is at 117812.

💫 If the price reaches 117812 and the RSI exits the Overbuy zone, we can take profit on the position.

✅ For a new position, no fresh trigger can be given right now because the price is moving sharply upward, and opening any new position here would be considered risky with a high chance of hitting stop-loss.

📊 The area I expect the price to react to is 117812, but I will wait for the price to first build a structure before opening a position.

❌ 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.