Bitcoin Analysis📊

SEPTEMBER 30th, 2024

➖➖➖➖➖

⚪️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

➖➖➖➖➖

$BTC