$BTC VIP Analysis
JULY 26th, 2024
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BIAS:
Mid-Term: BULLISH
Short-Term: BEARISH
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As expected, the price action of $BTC on the H4 timeframe has successfully bounced back from its horizontal support level, marked between $63,449 and $62,601 📈.
The price action is now facing rejection from the resistance region once again 🚫.
On the daily timeframe, the price action appears to be forming a potential double top pattern, indicating possible resistance at the current levels 📉.
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$67,172
⬆️LONG⬆️
$65,240
PREDICTED DAILY RANGE
$64,853 to $67,202
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VIP ACTION PLAN
The price action of $BTC , during its bounce back, has left an FVG (Fair Value Gap) between the $65,742 and $65,172 levels 📉.
Currently, the price action is facing rejection from its horizontal resistance level, marked between $67,524 and $67,172 🚫.
This rejection could indicate a potential downward movement, possibly leading to the fulfillment of the FVG gap 📉.
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Yours truly,
Fed. Lokotre feed