Bitcoin Market Analysis

May 5, 2024

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⚪️TECHNICAL (1D)

BTC surged after triggering all the stops below the previous low and is now advancing towards the daily order block. A continuation of the range-bound movement is anticipated, and if it breaks and retests the order block, further bullish momentum can be expected due to significant liquidity noted above the high of 73800.

⚪️WRAP-UP (VIP)

BTC surged after clearing stops below the recent low and is now nearing the daily order block. Further, range-bound movement is anticipated. A breakout and retest of the order block could signal a bullish continuation, supported by ample liquidity above 73800.

$BTC DAILY RANGE:

📈Upper Limit: 64540

📉Lower Limit: 62541

(+-% based on moving average volatility open/endpoints)

📌SCALP ENTRIES (VIP)

(*Advanced traders only - moderate/high risk)

🔵LONG

💲61000

🔴SHORT

💲69000

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#altcoins #CryptoWatchMay2024 #BullorBear $BTC #MicroStrategy #BitcoinETFs