$BTC VIP Analysis

DECEMBER 17th, 2024

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BIAS: 

Mid-Term: BULLISH

Short-Term: BEARISH

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The price action of $BTC on the H2 timeframe has successfully squeezed out its buy-side liquidity levels, previously marked at $104,014 and $103,686. 📈 This triggered an impulsive move upward, leading to a breakout of the $107,000 level. 🚀

At this stage, we can anticipate a potential short-term rejection from this level, given the rapid nature of the upward movement. Such rejections often provide opportunities for retracements or retests before any further upside continuation. 🔄

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MAIN INTEREST LEVELS 

⬇️SHORT⬇️ 

$106,439

⬆️LONG⬆️

$105,385

PREDICTED DAILY RANGE

$102,386 to $107,843

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VIP ACTION PLAN

Currently, the price action on the H1 timeframe is consolidating above its horizontal support level, marked between $105,919 and $105,594. 📊

Given the current structure, the price action is likely to exhibit a short-term rejection, targeting to fill the lower Fair Value Gap (FVG).