I can see on this chart of BTC/USDT on a 1-hour timeframe shows a rising wedge pattern, typically a bearish formation. The price has tested the lower wedge boundary and appears to be bouncing. The RSI at 53.68 suggests neutral momentum but hints at potential upward pressure in the short term.
The USDT Dominance chart indicates a bearish trend. A rising wedge pattern has formed, typically signaling a potential breakdown. The RSI shows bearish divergence, suggesting weakening momentum. Stochastic RSI is retreating from overbought conditions, indicating further downside potential. The EMA ribbon has started to flatten, reflecting reduced bullish strength. A decline in USDT dominance aligns with bullish sentiment in the broader crypto market, confirming support for BTC’s long-term bullish outlook. This setup strongly suggests continued downside for USDT dominance.
The heatmap reveals substantial liquidation clusters near $96,000, indicating strong resistance. However, reduced sell pressure and steady price accumulation within this range suggest consolidation. This signals potential bullish momentum for BTC in the longer time frame.
Trade Details:
Entry: Around 96292.13 ( Join my Binance live for premium crypto signals )
1st Tp: 101809.53
2nd Tp: 104158.14
3rd Tp : 106624.18
$BTC
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