Market Analysis 👀 June 28, 2024 ➖➖➖➖➖ ⚪️TECHNICAL (1D) It indicates potential market movement when it rebounds from horizontal support and approaches the trendline resistance. A breakout followed by a retest of the trendline resistance suggests a bullish trend. Conversely, a rejection at the trendline resistance followed by a breakdown retest of the horizontal support indicates a bearish trend.
⚪️WRAP-UP (VIP) It bounced off horizontal support and is nearing trendline resistance. A breakout and retest of the resistance signal a bullish trend, while a rejection and breakdown of the support indicate a bearish trend.
$BTC DAILY RANGE: 📈Upper Limit: 62389 📉Lower Limit: 60600 (+-11% based on moving average volatility open/endpoints)
The author of the bestseller "Rich dad poor dad” highlighted the potential of the leading cryptocurrency to enter the so-called “Banana Zone“. ......... IN publication on X (Twitter) on June 26, Kiyosaki expressed his firm belief that BTC will soon make a parabolic rebound.
The term "Banana Zone” was coined by Raoul Pal, CEO of Real Vision and an expert in macroeconomics, to describe the potential parabolic jump of Bitcoin.
Kiyosaki agreed with Pal's view, noting that the term "creates great excitement". He emphasized that Pal, with his extensive experience as a senior executive at Goldman Sachs, has deep knowledge.
"Yes, I believe Raul Pal knows what he is talking about. (…) The “Banana Zone” is when Bitcoin goes up… goes parabola… creates a sine curve… when people say “I should have bought some”… or “I should have bought more Kiyosaki wrote.
Market Analysis 👀 June 27, 2024 ➖➖➖➖➖ ⚪️TECHNICAL (4H) On the daily timeframe, the price action of $BTC is respecting its horizontal support level, marked between $61,228 to $59,742, after squeezing out the sell side liquidity level. 📉🛡️
This support level is crucial, and maintaining it could signal potential upward movement. 📈🔝
⚪️WRAP-UP (VIP) Currently, on the H2 timeframe, the price action is showing the structure of a Bullish Double Bottom pattern. This suggests that the price of $BTC might drop to form the second bottom of the pattern. 📉🔄
$BTC DAILY RANGE: 📈Upper Limit: $64,035 📉Lower Limit: $59,783 (+-7.11% based on moving average volatility open/endpoints)
$BTC VIP Analysis - BIAS: Mid-Term: BEARISH Short-Term: BEARISH -- As expected, the price action of $BTC showed a short-term increase. 📈 The price action is forming a Bullish Harmonic Shark pattern and consolidating at its horizontal support level, marked between $60,714 and $50,539. 📊
We can anticipate a short-term bounce back from this level. 📉🔄 - MAIN INTEREST LEVELS
⬇️SHORT⬇️ $61,408
⬆️LONG⬆️ $60,974
PREDICTED DAILY RANGE $67,652 to $61,125 -- VIP ACTION PLAN
On the H1 timeframe, the price action reveals an FVG gap level marked between $59,953 and $59,635. 📊
If the price action loses the horizontal support level, it could move to fill this gap. 📉 - Salman Khan Wazir®
The price action of $INJ is holding at its horizontal support level, marked between $22.735 and $22.378. 📉
We can anticipate a bounce back from this zone, potentially leading to further upward price movement. 📈
However, the price action has shown a candle imbalance below this level, which should be monitored for potential volatility. 🔍 ➖➖➖➖➖ Salman Khan Wazir®
The price has bounced off the horizontal support and is currently trading below the descending trendline.
A breakout and subsequent retest of the trendline would confirm a bullish signal, while a breakdown and retest of the horizontal support would confirm a bearish signal. ➖➖➖➖➖➖➖ - Salman Khan Wazir®
Bitcoin is currently testing the horizontal resistance zone of an ascending triangle on the weekly timeframe. This pattern suggests the potential for a significant process movement, as ascending triangles often precede breakouts.
The 21-day moving average is acting as a resistance level. A breakout above this moving average would indicate a bullish trend, likely leading to higher prices.
Conversely, if Bitcoin fails to break through the 21MA, it may result in a downward movement within the triangle, potentially revisiting lower support levels.
As u can see btc breakdown trend line and also our important line I have marked with dark blue arrow according to this it can dump till 61k to 60.7k approx in lower tf if breaks 61140 area then will see.