Market Analysis

SEPTEMBER 22nd, 2024

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⚪️TECHNICAL (H4)

The price action of $BTC on the H4 timeframe is showing signs of compression, as it struggles to print further higher highs.

It is currently consolidating above its horizontal support level, while a double top structure is beginning to form. This pattern could indicate potential weakness and a short-term rejection 📉

⚪️WRAP-UP (VIP)

The price action on the H1 timeframe is currently consolidating in a compression level 📉. Additionally, it has left an H1 FVG gap marked between $61,706 and $60,490 📊.

We can expect this gap to potentially be filled during a retest, which could influence the next move of the price action 🔄

$BTC DAILY RANGE:

📈Upper Limit: $64,990

📉Lower Limit: $60,490

(+-6.01% based on moving average volatility open/endpoints)

📌SCALP ENTRIES (VIP)

(*Advanced traders only - moderate/high risk)

🔵LONG

💲61,940

🔴SHORT

💲62,972

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