$BTC Market Analysis
August 22, 2024
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⚪️TECHNICAL (H4)
The price action on the 4-hour timeframe has bounced back from its horizontal support level and is currently testing its horizontal resistance region. This resistance level could lead to potential downward movements in the price action. 📉
⚪️WRAP-UP (VIP)
The price action on the lower timeframe is facing rejection, indicating potential further downward movement. This could lead to a retest of the horizontal support region level. 📉
$BTC DAILY RANGE:
📈Upper Limit: $61,623
📉Lower Limit: $58,083
(+-6.10% based on moving average volatility open/endpoints)
📌SCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
🔵LONG
💲58,600
🔴SHORT
💲60,354
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