Market Analysis
May 16, 2024
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⚪️TECHNICAL (1D)
BTC surged as predicted following the successful retest of the falling wedge pattern, and it's currently encountering horizontal resistance. It's prudent to exercise patience and wait for either the breakout retest of this resistance or another test of the horizontal support level.
⚪️WRAP-UP (VIP)
BTC surged after retesting the falling wedge, now facing horizontal resistance. Patience advised for breakout retest or support test.
$BTC DAILY RANGE:
📈Upper Limit: 66800
📉Lower Limit: 61300
(+-13% based on moving average volatility open/endpoints)
📌SCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
🔵LONG
💲61500
🔴SHORT
💲69000
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