Market Analysis
May 12, 2024
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⚪️TECHNICAL (1D)
BTC is currently exhibiting movement within a falling wedge pattern. After encountering resistance at the trendline, it appears to be heading towards the lower trendline support. This suggests a potential consolidation within the wedge, awaiting a definitive breakout.
⚪️WRAP-UP (VIP)
BTC is in a falling wedge pattern, having rejected the trendline and now approaching lower support. Expect consolidation within the wedge until a breakout occurs.
$BTC DAILY RANGE:
📈Upper Limit: 61500
📉Lower Limit: 60500
(+-10% based on moving average volatility open/endpoints)
📌SCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
🔵LONG
💲58000
🔴SHORT
💲63000
