TECHNICAL (H4)
The price action of $BTC on the H4 timeframe played out the compression level but successfully held its horizontal support between $62,956 to $62,430.
The price action has since bounced back from this level and is now heading towards the liquidity levels marked between $64,979 to $64,210.
This could suggest a further upward movement as the price action targets these liquidity areas.
WRAP-UP (VIP)
The price action on the H4 timeframe is respecting its horizontal resistance level and showing signs of rejection from that area.
The H1 FVG gap remains valid, though for further confirmation of a downward move, the price action needs to break down its support region.
Until then, the market may remain in a consolidation phase or show signs of hesitation before confirming its direction.
$BTC DAILY RANGE:
Upper Limit: $64,990
Lower Limit: $60,490
(+-6.01% based on moving average volatility open/endpoints)
SCALP ENTRIES (VIP)
(Advanced traders only - moderate/high risk)
LONG
$62,956
SHORT
$63,935
