Coin Name: #BTC ☀
Signal Type: Long
Bitcoin has experienced a price correction, with liquidation levels hitting approximately the 94,900 range. The price has broken downward but found support at the Golden Fibonacci Ratio. If Bitcoin reclaims the 95,000 level, this could signal a push toward higher targets. Shorting in this market is considered unwise—use corrections as opportunities to add more margin to your long positions and avoid following the herd mentality.
BTC Analysis (1H Timeframe):
BTC.D (Bitcoin Dominance): While Bitcoin declined, BTC Dominance also fell, resulting in minimal impact on altcoins. This behavior indicates a shift in investor focus toward altcoins, making this an ideal time to accumulate promising altcoins.
USDT.D (USDT Dominance): USDT Dominance remains in a descending channel. Having touched the upper limit of this channel, it’s now trending downward, signaling potential positivity across the broader crypto market.
Trade Details:
Entry: Below 96,000
Take Profit (TP): 99,000
Stop Loss (SL): 3,000
Key Insight: Accumulate altcoins during this period to capitalize on the shifting market focus.
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