BTC VIP Analysis
OCTOBER 4th, 2024
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BIAS:
Mid-Term: BEARISH
Short-Term: BULLISH
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The price action of $BTC on the daily timeframe successfully showed a rejection from its resistance trendline, as expected. 📉🔄
Currently, the price action is consolidating at its horizontal support level, marked between $61,150 and $60,075. 📊⚖️
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$60,075
⬆️LONG⬆️
$61,192
PREDICTED DAILY RANGE
$59,994 to $70,002
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VIP ACTION PLAN
The price action is expected to show a bounce back from its horizontal support level, as it has previously formed 4 consecutive bearish candles. 📉🔄
On the H4 timeframe, the price action is consolidating in a compression pattern, failing to print further lower lows. 📊⚖️
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Yours truly,
BabyWhale®