Market Outlook
Time Frame: 4H
Trade Type: Swing Trade
1. BTC.D
In my opinion, BTC.D needs to rise first to 2.372 or 54.63%. However, in the short term, a bounce could occur because the candle breaking the resistance is small and not strong.
2. BTCUSD
I would like to see it move to 65-54 to establish a Higher Low (HL) as a confirmation of a rebound towards 72K. Therefore, when BTC.D rallies and BTCUSD drops, a mini dump occurs (not as severe as a major crash). The impact is expected to be at least 30%, not exceeding 50%. I am looking for a healthy version of this to maintain an uptrend condition. According to the daily chart, it has been moving sideways continuously from February until now.
It is time for a rebound and a pump. Each correction is a good opportunity for me to trade. However, if it reaches 62K, that would be ideal—a bear trap first.
3. ETHUSD
ETH needs to drop first, indeed, but it remains in an uptrend condition with a rebound expected in the 3.4K - 3.2K area.
4. DXY
Regarding DXY, I see three possibilities:
If it continues its downtrend, it could reach its support area at 104 - 103.A rebound right at the nearest support or weak swing low, forming a Change of Character (CHoCH).Immediately forming a CHoCH since the gap has been filled and it is time to take the gap above.
#BinanceSquareFamily #ETHETFsApproved #StartInvestingInCrypto #MarketSentimentToday #DXY
OUTLOOK :