$BTC VIP Analysis
AUGUST 14th, 2024
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BIAS:
Mid-Term: BULLISH
Short-Term: BEARISH
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The price action on the H1 timeframe has successfully rejected from its horizontal resistance level, marked between $63,000 and $62,522.
On the H4 timeframe, the price action is forming a Bullish Harmonic Bat pattern, and the price action still needs to complete its D leg.
This could signal a potential further drop in the price action. 🦇📉
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$58,259
⬆️LONG⬆️
$56,737
PREDICTED DAILY RANGE
$61,535 to $54,490
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VIP ACTION PLAN
The price action has shifted into a bearish trend, leaving behind an FVG gap marked between $56,820 and $55,462.
We can anticipate the price action to squeeze out the liquidities left at $57,702, $56,753, and $54,563 levels. 📉