BTC VIP Analysis
SEPTEMBER 1ST, 2024
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BIAS:
Mid-Term: BEARISH
Short-Term: BEARISH
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The price action on the H4 timeframe is failing to hold its horizontal support level, marked between $58,700 to $58,091, and is also breaking down its support trendline. 📉
If the price action breaks below this horizontal support region, we can expect it to squeeze out the sell-side liquidity level marked at $56,144. 💧
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$58,131
⬆️LONG⬆️
$56,176
PREDICTED DAILY RANGE
$56,240 to $61,472
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VIP ACTION PLAN
The price action on the H1 timeframe is showing a bounce back, which could indicate a short-term relief in $BTC's price action. 📈
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