BTC VIP Analysis

AUGUST 29th, 2024

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BIAS:

Mid-Term: BULLISH

Short-Term: BEARISH

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In the current market structure, Bitcoin is consolidating within an ascending triangle pattern. This setup often signals a potential continuation of the prevailing trend, contingent on a decisive breakout or breakdown.

Traders and analysts should exercise patience, awaiting a breakout above the upper resistance or a breakdown below the rising support. A successful retest of the breakout or breakdown level will be crucial to confirm the validity of the move.

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MAIN INTEREST LEVELS

⬇️SHORT⬇️

$62000

⬆️LONG⬆️

$56000

PREDICTED DAILY RANGE

$58000 to $63000

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VIP ACTION PLAN

BTC is currently trading within an ascending triangle pattern. To confirm its next direction, it is crucial to wait for either a breakout or a breakdown, followed by a successful retest.

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Yours truly,

BabyWhale®