Bitcoin Bullets® Market Analysis

August 8, 2024

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⚪️TECHNICAL (4H)

Bitcoin has surged again after retesting its horizontal support and is now approaching the trendline resistance. A successful breakout and subsequent retest of the trendline would confirm a bullish trend. Conversely, a rejection at the trendline followed by a breakdown and retest of the horizontal support would confirm a bearish outlook.

⚪️WRAP-UP (VIP)

BTC surged after retesting horizontal support and is now nearing trendline resistance. A breakout and retest confirm a bullish trend, while rejection and breakdown retest confirm a bearish trend.

$BTC DAILY RANGE:

📈Upper Limit: 57700

📉Lower Limit: 54500

(+-10% based on moving average volatility open/endpoints)

📌SCALP ENTRIES (VIP)

(*Advanced traders only - moderate/high risk)

🔵LONG

💲54000

🔴SHORT

💲62000