If you wake up as Inspired Analyst today

What would you do?

After receiving a heartfelt feedback on our changes to the Daily News on Instagram…

Thank you for that by the way….

My team and I decided to go an extra mile for our Technical Analysis too.

So, instead of the descriptive Analysis, we decided to squeeze the Technicalities into 2-3 bullets.

Furthermore, I have introduced the IF conditions separately, so you can get an aerial view of the causal effects.

Give it a read and let me know if it is easy to follow or should we go back to the descriptive Analysis.

I am leaving my chair as Inspired Analyst for the day..

Please sit on it and dictate whatever it is that you wish!

Because you are the reader, hence the Real Boss!

Bitcoin

• Bitcoin swinging between 15,800 to 17,200

• Market structure: still Bearish

  • Bitcoin yet to break the structure for upwards rally.

• The IF conditions:

1. If BTC manages to break the trend-line shown in red

   • then, Expected *retracement till 18,000 to 18,450

2. If FTX Saga had not occurred

   • then, Bitcoin would have been trading sub 23k to 25k level

*Retracement basically means to identify a minor pullback or change in direction of a financial instrument.

Before our expectations of a retracement come out to be true, we must check if other confluences such as DXY and USDT Dominance support it.

Because as of now, the mentioned confluences (DXY & USDT.D) are quite bearish.

ETH/BTC

• Ethereum: Father of alt coins - remained the strongest (like always)

• ETH/BTC - pushing towards a breakout

  • which means, a 4-hour candle close above the 0.66b fib level (follow the black line)

• The IF condition: If it manages to breakout

  • then, a further green rally in alt coins (because duh most alt-coins in the 1-hour and 2-hour frames are already displaying a bullish structure)

USDT Dominance (2-hour Timeframe)