$BTC VIP Analysis

MAY 16 2024

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BIAS: 

Mid-Term: BEARISH

Short-Term: BULLISH

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As expected the price action of $BTC on the H1 timeframe level has after retesting above its neckline pumped up impulsively. 

Whereas on the H4 timeframe level, the price action bounced back from its Horizontal Support level which is marked between $61,866 to $61,020, and squeezed out the buy-side liquidity level.

we can expect some rejection movement from there 

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MAIN INTEREST LEVELS 

⬇️SHORT⬇️ 

$65,905

⬆️LONG⬆️

$66,579 

PREDICTED DAILY RANGE

$61,885 to $72,916 

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VIP ACTION PLAN

The price action after an impulsive movement has left out the FVG gap level which we can see the some rejection level from there to fill that FVG gap level.

However, if the price action flips out that region level, we will be seeing a further increase in the price action of $BTC------