$BTC VIP Analysis
AUGUST 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 has broken down its horizontal support level, as expected, which was marked between $63,771 to $62,437. The trend has now switched to a bearish level.
Currently, the price action is consolidating above its horizontal support level marked between $60,320 to $59,474. 📉
A short-term pump in the price action can be expected, though there is a sell-side liquidity level marked at $56,635. 🚀📉
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$59,474
⬆️LONG⬆️
$60,775
PREDICTED DAILY RANGE
56,698 to $63,921
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VIP ACTION PLAN
The price action of $BTC on the H4 timeframe is consolidating in a lower low, lower high pattern.
It is currently forming another lower high, which could indicate a potential pump in the price action of $BTC while it holds its support region level. 📈
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Yours truly,
Team CK
