$BTC VIP Analysis
December 17th, 2023
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BIAS:
Mid-Term: BULLISH
Short-Term: BEARISH
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As expected the price action filled out the GAP level which is marked between the $42,597 - $42,631 level and played out our Predicted Daily Range level.
Currently, the price action is respecting its crucial Horizontal Support level which can show us the bounce-back level from there.
However, if it loses that level we can see a drop in the price action of $BTC
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$42,165
⬆️LONG⬆️
$41,720
PREDICTED DAILY RANGE
$41,468 - $42,600
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VIP ACTION PLAN
As expected it played out the level as we assumed after forming our Bullish Double Bottom pattern level.
The price action has formed out Descending Triangle pattern level where it got rejected from its Resistance Trendline level. We can expect further rejection level and breakdown as all the EMAs is turning into Resistance levels now
