$BTC VIP Analysis

APRIL 29, 2024

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BIAS: 

Mid-Term: BEARISH

Short-Term: BULLISH

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The price action of $BTC on the daily timeframe level is consolidating at its Horizontal Support level which is marked between the $63,339 to $62,474 level.

The price action has taken out the formation of a Double Bottom pattern level where it can bounce back and fill out its Fair Value gap level.

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MAIN INTEREST LEVELS 

⬇️SHORT⬇️ 

$62,474

⬆️LONG⬆️

$63,339

PREDICTED DAILY RANGE

$60,544 to $66,401

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VIP ACTION PLAN

The price action is consolidating in a compression level where it's respecting its Support levels and the price action has to hold out this level to show the above movements.

If the price action fails to hold this level we can see the price action will test out its other Support region level.

On the macro timeframe level, the price action looks bearish as in the compression level it failed to print the further Higher Highs level and tried to change the market trend level.

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Yours truly,

Team CK