Daily Market Outlook: BTC, Forex & SPX Setups (#4)
Hope you’re all having a great start to the week! I’m Skeptic, and today we’ll break down BTC, Forex, and a key setup on SPX.
📉 BTC Analysis – Stuck in a Range, But Not for Long!
BTC is currently range-bound after getting rejected from 107K. The range is wide and indecisive, signaling that the market is waiting for a strong catalyst before making its next move.
📊 Key Observations:
Low volume & high volatility = poor R/R for trades inside the range.
Breakout traders should wait for confirmation:
✅ Bullish Breakout: Above $98,455, or even earlier if momentum kicks in.
🔻 Bearish Breakdown: Below 95K, which could trigger a stronger move down.
⚠ Until a breakout happens, trading inside this range isn’t ideal due to stop hunts and fake moves.
📊 BTC.D Dropping – Is Altcoin Season Heating Up?
BTC dominance (BTC.D) has been declining recently, which suggests capital rotation into altcoins.
📊 Why This Matters?
Coins like XRP, BNB, and CAKE have started to gain traction.
Watching BTC.D is crucial—it helps determine if money is staying in BTC or shifting to alts.
A continued BTC.D drop could mean more upside for alts.
📉 DXY (Dollar Index) – Entering a Deeper Correction?
We’ve been talking about DXY weakness for a while, and now, after breaking below 107.311, we’re seeing a deeper correction.
📊 Potential Targets Based on Fibonacci:
✅ 105.677 (first level)
✅ 103.306 (deeper retracement)
💡 Since DXY is weak, we might see strength in EUR pairs and stock indices this week.
📈 SPX500 – Major Breakout Watch!
SPX500 has been in a long consolidation phase after hitting an all-time high of 6113.92. Now, it’s approaching 6128.89—its key resistance level.
📊 Trade Setup:
✅ Long Entry: Above 6128.89, with confirmation.
✅ Why This Level? A breakout and confirmation could signal continuation of the uptrend.
✅ Extra Tip: Using momentum indicators like SMA & RSI can help filter out fake breakouts.
Final Thoughts & Risk Management
⚠ BTC is still ranging—stay patient and wait for clear structure before trading.
⚠ DXY weakness could support stocks & EUR pairs this week.
⚠ SPX breakout setup looks promising but needs confirmation.
💬 I’m Skeptic, and I’ll see you tomorrow with another market breakdown! 🚀
⚠ Disclaimer: These trade setups are based on my personal analysis and are not financial advice. If you don’t have a solid risk management plan, these triggers may not be suitable for you. Always do your own research (DYOR) and trade at your own risk. 💡
📉 BTC Analysis – Stuck in a Range, But Not for Long!
BTC is currently range-bound after getting rejected from 107K. The range is wide and indecisive, signaling that the market is waiting for a strong catalyst before making its next move.
📊 Key Observations:
Low volume & high volatility = poor R/R for trades inside the range.
Breakout traders should wait for confirmation:
✅ Bullish Breakout: Above $98,455, or even earlier if momentum kicks in.
🔻 Bearish Breakdown: Below 95K, which could trigger a stronger move down.
⚠ Until a breakout happens, trading inside this range isn’t ideal due to stop hunts and fake moves.
📊 BTC.D Dropping – Is Altcoin Season Heating Up?
BTC dominance (BTC.D) has been declining recently, which suggests capital rotation into altcoins.
📊 Why This Matters?
Coins like XRP, BNB, and CAKE have started to gain traction.
Watching BTC.D is crucial—it helps determine if money is staying in BTC or shifting to alts.
A continued BTC.D drop could mean more upside for alts.
📉 DXY (Dollar Index) – Entering a Deeper Correction?
We’ve been talking about DXY weakness for a while, and now, after breaking below 107.311, we’re seeing a deeper correction.
📊 Potential Targets Based on Fibonacci:
✅ 105.677 (first level)
✅ 103.306 (deeper retracement)
💡 Since DXY is weak, we might see strength in EUR pairs and stock indices this week.
📈 SPX500 – Major Breakout Watch!
SPX500 has been in a long consolidation phase after hitting an all-time high of 6113.92. Now, it’s approaching 6128.89—its key resistance level.
📊 Trade Setup:
✅ Long Entry: Above 6128.89, with confirmation.
✅ Why This Level? A breakout and confirmation could signal continuation of the uptrend.
✅ Extra Tip: Using momentum indicators like SMA & RSI can help filter out fake breakouts.
Final Thoughts & Risk Management
⚠ BTC is still ranging—stay patient and wait for clear structure before trading.
⚠ DXY weakness could support stocks & EUR pairs this week.
⚠ SPX breakout setup looks promising but needs confirmation.
💬 I’m Skeptic, and I’ll see you tomorrow with another market breakdown! 🚀
⚠ Disclaimer: These trade setups are based on my personal analysis and are not financial advice. If you don’t have a solid risk management plan, these triggers may not be suitable for you. Always do your own research (DYOR) and trade at your own risk. 💡
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Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.