Bitcoin Analysis📊
SEPTEMBER 30th, 2024
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⚪️TECHNICAL (DAILY)
The price action of $BTC on the daily timeframe is facing rejection from its resistance trendline, indicating potential downward movement. 📉⚠️
Previously, the price action attempted to break through the resistance trendline and horizontal resistance levels but failed to do so, suggesting more weakness ahead. 📊🚫
⚪️WRAP-UP (VIP)
Each time the price action has been rejected from its resistance level, it has dropped by approximately 20% from the rejection point. 📉⚠️
Currently, the price action is facing another rejection, and we can expect it to potentially reach its horizontal support level, marked between $56,157 and $53,944. 📊🔄
$BTC DAILY RANGE:
📈Upper Limit: $72,926
📉Lower Limit: $54,016
(+-35.01 based on moving average volatility open/endpoints)
📌SCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
🔵LONG
💲61,792
🔴SHORT
💲64,583
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