Market Update: BTC Dominance, Heatmap Analysis, and Upco everyone!
Earlier today, I provided some insights based on $BTC dominance and the heatmap, which suggested that Bitcoin (BTC) could potentially drop to 98. I also took the time to explain in detail how signals are formed, especially since I had previously mentioned that when BTC reaches 98, I would open a trade in $AIXBT .
Trade Execution & Profit
As anticipated, BTC did drop to the 98 level, and I proceeded with my AIXBT trade. I monitored the momentum for about half an hour and decided to close the trade in profit.
Currently, Bitcoin is in a consolidation phase. The upward momentum is showing signs of weakness, and based on the heatmap, it’s likely that BTC may dip to around 985 or 983 before bouncing back.
Upcoming Market Moves: Caution Advised
While a bounce seems probable, I won’t be taking any trades during this bounce. Why? Because trading without a clear direction isn’t a sound strategy. Until the market direction becomes clearer, it’s best to refrain from entering trades.
It’s important to acknowledge that I could be wrong, as the crypto market is highly volatile and unpredictable. So, I urge everyone to perform their own analysis before making any trading decisions.
Conclusion: Trade with Caution
In such volatile markets, caution is key. Always wait for a clear trend before taking action and remember to manage risk effectively.
Take care and happy trading!
