VIP Analysis $BTC
December 17, 2023
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BIAS:
Mid Term: BULLISH
Short Term: BEARISH
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As expected, price action filled the marked GAP level between the $42,597 - $42,631 levels and played into our Daily Range Prediction levels.
Currently, the price movement is respecting an important Horizontal Support level which could show us a bounce back level from there.
However, if it loses that level, we could see a decline in $BTC price action
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PRIMARY INTEREST RATE
⬇️SHORT⬇️
$42.165
⬆️LONG⬆️
$41.720
EXPECTED DAILY RANGE
$41.468 - $42.600
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VIP ACTION PLAN
As expected, it plays the levels as we assumed after forming the levels of the Bullish Double Bottom pattern.
Price action has formed a Descending Triangle pattern level which was rejected from its Trendline Resistance level. We can expect further rejection and breakout levels as all EMAs have now turned into Resistance levels
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Best regards,
