BTC VIP Analysis
AUGUST 26th, 2024
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BIAS:
Mid-Term: BULLISH
Short-Term: BEARISH
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As expected, the price action of $BTC on the H1 timeframe has successfully squeezed out its buy-side liquidity level marked at $64,987 and got rejected from there. It is now filling out its FVG gap level, marked between $63,517 and $62,386. đ
We can anticipate a further drop in the price action of $BTC, which may test its horizontal support region level, marked between $63,000 and $62,522. đ»
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MAIN INTEREST LEVELS
âŹïžSHORTâŹïž
$63,582
âŹïžLONGâŹïž
$62,522
PREDICTED DAILY RANGE
$61,171 to $64,540
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VIP ACTION PLAN
On the H1 timeframe, the price action of $BTC has formed a double top pattern. đ Previously, it was consolidating in a compression level but has since broken down its trendline, changing the trend pattern.
After a retest of this level, we can expect further downward movement. đđœ
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BabyWhaleÂź
