$BTC VIP Analysis
AUGUST 12th, 2024
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BIAS:
Mid-Term: BULLISH
Short-Term: BEARISH
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On the H2 timeframe, the price action of $BTC has successfully filled its FVG gap level, marked between $59,384 to $57,904 as anticipated. This drop in BTC's price has also led to a decline in $ALTs prices. 📉
Currently, the price action is holding above its horizontal support level, marked between $57,667 to $56,737. Keep an eye on this critical support level for potential moves.
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$57,852
⬆️LONG⬆️
$55,311
PREDICTED DAILY RANGE
54,707 to $62,531
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VIP ACTION PLAN
On the H2 timeframe, the price action is approaching the $56,820 to $55,462 level, where we can anticipate a fill after a rejection and breakdown from its support level. 📉
Keep an eye out for potential downward movement as the price action seeks to close this gap.