The BTC chart displays a potential bullish breakout pattern with a falling wedge forming on the 30-minute timeframe. Key indicators such as RSI rebounding above 58.55 and stochastic oscillators showing bullish momentum strengthen the upward trajectory. Volume profile analysis supports upward movement, suggesting BTC is gaining momentum for a breakout towards the $100,000 mark. The chart structure and technical indicators align with a bullish longer-term outlook, affirming the probability of sustained upward movement in the coming sessions.
The USDT dominance chart indicates a bearish scenario, with a descending pattern forming on the 1-hour timeframe. The breakdown from the rising wedge structure and decreasing dominance below 4.32% signify that capital is likely flowing out of stablecoins into cryptocurrencies like BTC. RSI trending down at 45.15 and stochastic indicators at oversold levels suggest further downside potential for USDT dominance. This aligns with a bullish outlook for BTC in the longer timeframe, as decreasing USDT dominance often correlates with rising crypto prices.
The chart reflects liquidity clusters with a significant concentration around $96,000, indicating strong resistance. However, the steady price action suggests that Bitcoin is consolidating for a potential breakout. The bullish momentum remains intact for the longer timeframe.
Trade Details:
Entry: Around 95887.70 ( Join my Binance live for premium crypto signals )
1st Tp: 98573.29
2nd Tp: 100251.79
3rd Tp : 101669.19
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