BTC VIP Analysis
OCTOBER 17th, 2024
-
BIAS:
Mid-Term: BULLISH
Short-Term: BULLISH
--
The price action of $BTC on the daily timeframe has broken out of another horizontal resistance level, marked between $67,579 to $66,985. đ
The buy-side liquidity level at $70,012 is now in focus, and after a successful retest of the horizontal support level, we could see further upward movement toward this target. đ Keep an eye on the support retest for confirmation of continued bullish momentum.
--
MAIN INTEREST LEVELS
âŹïžSHORTâŹïž
$66,985
âŹïžLONGâŹïž
$67,450
PREDICTED DAILY RANGE
$59,994 to $70,002
--
VIP ACTION PLAN
The price action on the H4 timeframe has shifted into a higher highs formation đ, indicating bullish momentum.
After breaking out of the horizontal resistance level, the price is currently forming a higher low, which is a healthy sign for a continued upward trend. đ
If this higher low holds, we can expect the price action to push higher, continuing the bullish structure.
----
Yours truly,
BabyWhaleÂź