#BTC Analysis $BTC VIP on June 7, 2024:
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**$BTC VIP Analysis**
**07 June 2024**
**BIAS:**
- Medium Term: BEARISH
- Short Term: BEARISH
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**Price Analysis:**
On the H4 chart, the price $BTC was successfully rejected from the horizontal resistance level between $71,515 to $70,692. The price is currently expected to move into the FVG gap region located between $70.104 to $69.181.
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**Primary Level of Importance:**
**⬇️ SHORT ⬇️**
$71,990
**⬆️ LONG ⬆️**
$70,692
**Estimated Daily Range:**
$73,937 to $62,994
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**VIP Action Plan:**
After being rejected from the horizontal resistance level, the price shows a lower high formation before moving downwards. On the H1 chart, the price has broken the neckline level and is currently retesting above this level, which could lead to a downward movement.
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