BTC VIP Analysis

OCTOBER 6th, 2024

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BIAS:

Mid-Term: BEARISH

Short-Term: BULLISH

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The price action on the H1 timeframe is consolidating at its horizontal support region marked between the $62,015 and $61,759 levels, forming a bullish pennant pattern. 📈

The price action needs to hold this level to initiate an upward movement.

If it manages to maintain this support, we can anticipate a rise in price and the fulfillment of the FVG gap level above. 🚀

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MAIN INTEREST LEVELS

⬇️SHORT⬇️

$60,075

⬆️LONG⬆️

$61,192

PREDICTED DAILY RANGE

$59,994 to $70,002

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VIP ACTION PLAN

On the H4 timeframe, the price action 📈 has broken out of the neckline of its compression pattern and is now retesting its horizontal support level 🔄.

If this level holds, we can expect further upward price movement 🚀 toward the FVG gap level, signaling potential bullish momentum 📊.

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Yours truly,

BabyWhale®