$BTC VIP Analysis
JULY 28th, 2024
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BIAS:
Mid-Term: BULLISH
Short-Term: BEARISH
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The price action, while initially consolidating above its horizontal resistance level, couldn't sustain above it and faced rejection.
Currently, the price action is consolidating below the horizontal resistance level marked between $68,967 and $68,124.
We can anticipate further rejection levels from this area. 📉
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$67,172
⬆️LONG⬆️
$65,240
PREDICTED DAILY RANGE
$64,853 to $67,202
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VIP ACTION PLAN
The price action on the daily timeframe is forming a double top pattern, indicating potential bearish sentiment as it faces rejection from its horizontal resistance level.
On the H4 timeframe, there is an FVG gap between $66,907 and $66,109 that may be filled.
This suggests the possibility of a downward move to close the gap. 📉
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Yours truly,
Fed. Lokotre