BTC VIP Analysis

OCTOBER 12th, 2024

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BIAS:

Mid-Term: BEARISH

Short-Term: BULLISH

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The price action of $BTC on the H1 timeframe successfully filled out the FVG gap between $61,645 and $61,107. After flipping the neckline of the pattern, the price action saw an impulsive pump 📈.

Currently, the price action is consolidating above this level but is failing to print higher highs, which suggests a potential short-term rejection 📉.

We could see a pullback towards the horizontal support level, marked between $62,015 and $61,759.

Traders should watch for confirmation of rejection and potential support tests before any further movement!

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MAIN INTEREST LEVELS

⬇️SHORT⬇️

$62,638

⬆️LONG⬆️

$$62,015

PREDICTED DAILY RANGE

$59,994 to $70,002

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VIP ACTION PLAN

The price action of $BTC on the H4 timeframe has successfully broken out of the horizontal resistance level marked between $62,015 and $61,759, turning it into a support region.

To see further upward momentum, the price action must hold this support level and maintain strength to potentially squeeze out the upper side liquidity. If it holds, we could see the price action move to fill the FVG gap marked between $65,552 and $64,732.

Traders should monitor this level carefully for confirmation! 📈

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Yours truly,

BabyofAfrica®