$BTC Analysis
AUGUST 31st, 2024
-
BIAS:
Mid-Term: BEARISH
Short-Term: BEARISH
--
The price action on the H1 timeframe bounced back from its horizontal support level, marked between $58,519 to $57,588. 📈
All the EMAs are acting as resistance levels, which could lead to a rejection at this point in $BTC's price. 📉
--
MAIN INTEREST LEVELS
⬇️SHORT⬇️
$59,115
⬆️LONG⬆️
$57,042
PREDICTED DAILY RANGE
$55,354 to $61,789
--
What can be expected now?
The price action of $BTC on the H4 timeframe is respecting its horizontal support region, marked between $58,700 to $58,091.
There is an FVG gap marked between $61,502 to $59,675, which we can expect to be filled before any downward movement. 📈👉📉
