Bitcoin Market Analysis
May 17, 2024
➖➖➖➖➖
⚪️TECHNICAL (1D)
Bitcoin recently surged following a breakout from a falling wedge pattern and is now attempting to break through a horizontal resistance level. A successful breakout and subsequent retest of this horizontal resistance would be a bullish indicator. However, if Bitcoin faces rejection at this level, it could lead to a retracement.
⚪️WRAP-UP (VIP)
Bitcoin surged after breaking out of a falling wedge and is now testing horizontal resistance. A successful breakout and retest would be bullish, but a rejection might lead to a retracement.
$BTC DAILY RANGE:
📈Upper Limit: 66800
📉Lower Limit: 64600
(+-12% based on moving average volatility open/endpoints)
📌SCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
🔵LONG
💲63500
🔴SHORT
💲70000
➖➖➖➖➖
