Fundamental Technical Analysis For Major Indices Listed On Binance Future

5 min readOct 16, 2023
  • DEFI, followed by BTCDOM, FOOTBALL and BLUEBIR are important indices listed on Binance Futures.
  • These indices allow financial leverage operations to be carried out.
  • For many it is unknown that in Binance Future there are three economic indices with which you can make short and long operations. Among the main ones is the DEFI index, followed by BTCDOM, FOOTBALL and BLUEBIR.

Decentralized Economy

In the case of DEFI, its index measures the total or partial performance of all cryptocurrencies that are classified as decentralized economic systems or as Binance explains in its blog, “it tracks the market performance of a basket decentralized finance (DEFI) protocol tokens listed on Binance”.

When this article was written, the DEFI index, (along with the others), was facing the desperate influx of capital emerging from the false news of the approval of one of the investment funds that the community has been waiting for so much (ETF).

The curious thing about the case is that from September to October, it lost approximately 15.27% of the total capitalizing volume and has recovered a total of 7.53% to date; almost half so far.

Fundamental technical analysis shows that this index shows a price relationship that can oscillate between the weekly maximum point (PWH) and the daily closing maximum point (PDH). That is, $529.53 and $534.75, respectively; with a certain degree of entry uncertainty towards the equilibrium zone based between $515.68 and $523.48.

Based on the above, bulls will have to wait for the breakout of PWH and well above $538.42. If the volume favors the bullish trend, the index projection can go to a monthly maximum point of $559.47 (PMH) and $577.75 (premium zone).

Bears, for their part, recommend a smart entry well below the break of $515.28 and the support of the daily low close (PDL), the exact point of $507.35. However, it is important to consider the trend relationship mentioned above and wait for the best one from the outset, knowing that currently the trend favors the bulls.

Increasing Dominance

One of the most important indexes in the cryptocurrency market is the Bitcoin dominance index. Some platforms show it in the form of a percentage of dominance, but Binance listed within its platform the BTCDOM Index, which as explained in a blog post, “it is a cryptocurrency price index that reflects the dominance of bitcoin in the market.” .

The advantage of all this is that you can carry out financial operations within Binance and take advantage of the key moments of Bitcoin volatility.

Performing an analysis, we observed that since the end of September Bitcoin had lost dominance compared to other cryptocurrencies.

To date, Bitcoin has recovered approximately 9.35% of the total volume of its capitalization and its index reflects, which after price manipulation, managed to reach the premium zone above $2118.96.

At the moment, we do not see a reversal trend that favors the bears. We see that if the price breaks the resistance of $2074.94 it could return to said area mentioned above.

Fans For All Types

The third index listed on Binance Futures is FOOTBALL, which as described by Criptonoticias, “it shows data for trading futures of these tokens with leverage. The index monitors the price and market capitalization of the main fan tokens listed on the exchange, which include to several top European soccer teams.”

By the time its corresponding analysis was done, the index was facing severe adversity between bears and bulls. So far since last July until today, the index has dropped approximately 26.28%, giving significance to the little investment interest in the sports area.

Current technical analysis shows that such index entered an accumulation zone between the daily high close (PDH), previous daily low close (PDL) and the last weekly low close (PWL). That is, between the points between $334.04 and $344.74.

Three Best

According to the Binance blog, “Binance Bluebird Index is a cryptocurrency price index launched in November 2022 that tracks the performance of BNB, DOGE and MASK”.

In the short term, Bluebird debuts within the latest highs, within the equilibrium zone, and after the recovery of its price of approximately 5.34%.

For bulls, we recommend an entry above the previous weekly closing high (PWH) at $5,859, but without a false breakout. This trend could project the price to more or less $6,135.

If the market loses trend in the next few days, the bears will have to wait for a reversal of the current trend. But the congruent points to consider a short entry are below $5,834 and $5,793, for short-term detectors. Medium term, below $6,071 and waiting for the bulls to make a profit.

See you next time…

Last article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Remember that all information presented here is a combination of third party data added to our personal opinion.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Rubikkav.

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