BTC
VIP Analysis APRIL 24, 2024
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BIAS:
Mid-Term: BULLISH
Short-Term: BULLISH
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the price action on the H1 timeframe level tried to break its Horizontal Resistance level but failed to retest got rejected from there and went down impulsively.
Currently, the price action is respecting its Horizontal Support level which is marked between the $63,640 to $62,950 levels.
With the rejection level, the price action has left out the candle imbalance between the $65,810 to $65,226 levels which will fill out with the bounce back from its Horizontal Support level.
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MAIN INTEREST LEVELS
β¬οΈSHORTβ¬οΈ
$62,950
β¬οΈLONGβ¬οΈ
$64,245
PREDICTED DAILY RANGE
$60,668 to $67,271
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VIP ACTION PLAN
The price action formed out of the rising wedge pattern level where the price action after breakdown and retest level has gone down impulsively.
Currently, the price action respects its Horizontal support level and consolidates in a compression level where the price action fails to print the further lower low level.
After another bottom level, we can expect the price action will bounce back from that zone level as the volume profile shows a good amount of volume there