$BTC Analysis
BIAS
- Mid-Term: BEARISH
- Short-Term: BULLISH
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As expected, the price action of $BTC on the H1 timeframe has successfully bounced back, showing an upward movement. Currently, on the H4 timeframe, $BTC is respecting its horizontal support level, which is marked between $67,437 and $66,909. This area might offer a potential leg-up.
MAIN INTEREST LEVELS
- SHORT: $66,909
- LONG: $67,437
PREDICTED DAILY RANGE
$73,937 to $62,994
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On the H4 timeframe, $BTC's price action is consolidating within a compression zone, respecting its horizontal support level. The 200EMA is acting as a resistance level. If the price action loses this support, we could see a further drop as liquidity lies below this level.