$BTC VIP Analysis
JUNE 26, 2024
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BIAS:
Mid-Term: BEARISH
Short-Term: BULLISH
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As expected, the price action of BTC the daily timeframe successfully bounced back from its horizontal support level. ๐
The impulsive downward movement in $BTC's price made a recovery anticipated. ๐ The price action also played out the SHORT MAIN INTEREST level, dropping down to approximately $58,500. ๐
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MAIN INTEREST LEVELS
โฌ๏ธSHORTโฌ๏ธ
$64,048
โฌ๏ธLONGโฌ๏ธ
$61,151
PREDICTED DAILY RANGE
$67,652 to $61,125
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VIP ACTION PLAN
On the H1 timeframe, the price action of $BTC is consolidating above its support level, forming an Inverse Head and Shoulders pattern and breaking out the neckline. ๐
Currently, $BTC is respecting its support level, marked between $61,729 to $61,554. This consolidation above the support level can indicate a potential bullish movement on STL. ๐
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Salman Khan Wazirยฎ
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