$BTC analysis
AUGUST 8th, 2024
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BIAS:
Mid-Term: BEARISH
Short-Term: BULLISH
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After consecutive bearish movements, the price action has bounced back and formed an impulsive candle. 📈
It is now attempting to break through the resistance at the 200 EMA and the horizontal resistance level marked between $60,320 to $59,474. 🔍
A successful breakout could indicate further upward momentum.
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$59,474
⬆️LONG⬆️
$55,779
PREDICTED DAILY RANGE
$50,424 to $59,755
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VIP ACTION PLAN
The price action on the daily timeframe has successfully filled its Fair Value Gap (FVG) level, which was marked between $57,976 to $56,249. 📉
After this, the price action has impulsively bounced back and may indicate a potential flip of its resistance region. 🚀
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Yours truly,
