Bitcoin Market Analysis
May 5, 2024
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⚪️TECHNICAL (1D)
BTC surged after triggering all the stops below the previous low and is now advancing towards the daily order block. A continuation of the range-bound movement is anticipated, and if it breaks and retests the order block, further bullish momentum can be expected due to significant liquidity noted above the high of 73800.
⚪️WRAP-UP (VIP)
BTC surged after clearing stops below the recent low and is now nearing the daily order block. Further, range-bound movement is anticipated. A breakout and retest of the order block could signal a bullish continuation, supported by ample liquidity above 73800.
$BTC DAILY RANGE:
📈Upper Limit: 64540
📉Lower Limit: 62541
(+-% based on moving average volatility open/endpoints)
📌SCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
🔵LONG
💲61000
🔴SHORT
💲69000
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