BTC VIP Analysis

MAY 5, 2024

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BIAS:

Medium term: LOW

Short Term: HIGH

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As expected, the price action of $BTC was successfully rejected from its horizontal resistance level that we expected.

Currently, price action is consolidating at its Horizontal Support level, and price action has to resist this level to show us further upward movement.

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MAIN INTEREST LEVELS

⬇️SHORT⬇️

$62,474

⬆️LONG⬆️

$63,339

PREDICTED DAILY BREAK

$59,461 to $67,035

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VIP ACTION PLAN

Price action at the H4 timeframe level has filled our Long Main Interest Level and price action is increasing.

If the price action holds at this level, we could see some long opportunities, therefore, we could see the change in the upward trend level towards the $66,000 level.