bitBitcoin Bullets® Market Analysis
July 16, 2024
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⚪️TECHNICAL (4H)
Bitcoin recently surged after breaking out of its descending trendline. It is currently encountering resistance at the 0.618 Fibonacci level, also known as the golden ratio. For the bulls to maintain momentum, a breakout above this level is crucial. If they fail, a short-term correction may occur before the next upward move.
⚪️WRAP-UP (VIP)
Bitcoin surged after breaking its trendline and now faces resistance at the 0.618 Fibonacci level. Bulls must break this or risk a short-term correction.
$BTC DAILY RANGE:
📈Upper Limit: 65000
📉Lower Limit: 60600
(+-12% based on moving average volatility open/endpoints)
📌SCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
🔵LONG
💲61000
🔴SHORT
💲67000
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Bitcoin Bullets® Trading
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