Market Analysis May 6, 2024 ➖➖➖➖➖ ⚪️TECHNICAL (1D) BTC is following its anticipated trajectory, displaying robust momentum and strength poised to sustain its bullish advance. The forthcoming resistance level looms around 67,000, further affirming the upward trajectory. ⚪️WRAP-UP (VIP) BTC is on track as expected, displaying strong momentum for a continued bullish trend. Next resistance: around 67,000. $BTC DAILY RANGE: 📈Upper Limit: 65500 📉Lower Limit: 62800 (+-12% based on moving average volatility open/endpoints) 📌SCALP ENTRIES (VIP) (*Advanced traders only - moderate/high risk) 🔵LONG 💲62000 🔴SHORT 💲67000
$BTC VIP Analysis MAY 05, 2024 - BIAS: Mid-Term: BEARISH Short-Term: BULLISH -- As expected the price action of $BTC was successfully rejected from its Horizontal Resistance level which we expected.
Currently, the price action is consolidating at its Horizontal Support level, and the price action has to hold out at this level to show us further upward movement - MAIN INTEREST LEVELS
⬇️SHORT⬇️ $62,474
⬆️LONG⬆️ $63,339
PREDICTED DAILY RANGE $59,461 to $67,035 -- VIP ACTION PLAN
The price action on the H4 timeframe level has filled out our Long Main Interest Level and the price action is pumping up.
If the price action holds out at this level we can see some long opportunities, thus can see the change in the trend level upward till its $66,000 level