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We ready to trade the FOMC
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🚨Bitcoin and Crypto Market Update: The next 24 hours are very important for Bitcoin and the crypto market, as the U.S. presidential election results will soon be announced. Right now, the market is uncertain, so we’re sharing fewer trades in the group. Once the election results are in, we’ll adjust our trading strategy. Until then, if we share any trades, please use smaller amounts, lower leverage, and tight stop-losses.
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BTC Analysis NOVEMBER 3rd, 2024 - BIAS: Mid-Term: BULLISH Short-Term: BULLISH -- As anticipated, the price action on the H1 timeframe for $BTC has successfully filled out the FVG gap between $68,213 and $67,902 🟢, with the region now serving as horizontal support. Currently, consolidation in a compression pattern 📉 is forming, signaling potential strength in this area. This setup increases the likelihood of a bounce back from this support level, giving potential for an upward movement 📈 if support holds steady. -- MAIN INTEREST LEVELS ⬇️SHORT⬇️ $67,902 ⬆️LONG⬆️ $68,335 PREDICTED DAILY RANGE $68,449 to $76,768 -- VIP ACTION PLAN On the H4 timeframe, the price action is consolidating at a horizontal support level after breaking down the support trendline and testing this region 🔻. This setup suggests that while a short-term bounce may occur 📈, there is still underlying liquidity below that could be targeted. If the price action retests and closes below $67,902, we could see a move to squeeze out these lower liquidity levels. This dual possibility gives a balanced view, with a potential bounce in the short term but a cautious outlook for further downside if lower supports are challenged. ---- Yours truly, Bab¥ofAfrica®
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