$BTC VIP Analysis

AUGUST 14th, 2024

-

BIAS:

Mid-Term: BULLISH

Short-Term: BEARISH

--

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. 🦇📉

--

MAIN INTEREST LEVELS

⬇️SHORT⬇️

$58,259

⬆️LONG⬆️

$56,737

PREDICTED DAILY RANGE

$61,535 to $54,490

--

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. 📉

#TipsTradingFutures #marketdownturn #CryptoExplorerFiesta