BTC VIP Analysis

OCTOBER 4th, 2024

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BIAS:

Mid-Term: BEARISH

Short-Term: BULLISH

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The price action of $BTC on the daily timeframe successfully showed a rejection from its resistance trendline, as expected. 📉🔄

Currently, the price action is consolidating at its horizontal support level, marked between $61,150 and $60,075. 📊⚖️

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MAIN INTEREST LEVELS

⬇️SHORT⬇️

$60,075

⬆️LONG⬆️

$61,192

PREDICTED DAILY RANGE

$59,994 to $70,002

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VIP ACTION PLAN

The price action is expected to show a bounce back from its horizontal support level, as it has previously formed 4 consecutive bearish candles. 📉🔄

On the H4 timeframe, the price action is consolidating in a compression pattern, failing to print further lower lows. 📊⚖️

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Yours truly,

BabyWhale®