BTC VIP Analysis

OCTOBER 7th, 2024

-

BIAS:

Mid-Term: BEARISH

Short-Term: BULLISH

--

The price action of $BTC on the H4 timeframe successfully filled the FVG gap level marked between $63,542 to $63,090. Additionally, it squeezed out the Buy Side Liquidity. 📈

For further upward movement, the price action needs to close above this level to confirm a valid retest and continue the bullish momentum 🚀.

--

MAIN INTEREST LEVELS

⬇️SHORT⬇️

$60,075

⬆️LONG⬆️

$61,192

PREDICTED DAILY RANGE

$59,994 to $70,002

--

VIP ACTION PLAN

As expected, the price action on the H4 timeframe showed an upward movement 📈. However, on the H1 timeframe, the price action is now facing rejection from its horizontal resistance level after consecutive upward movements.

It also left behind an FVG gap marked between $63,638 to $62,922, which may need to be filled before any further sustained upward momentum.

----

Yours truly,

BabyWhale®