BTC VIP AnalysisAPRIL 19, 2024
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BIAS:
Mid-Term: BEARISH
Short-Term: BEARISH
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The price action on the daily timeframe level successfully showed us the increase in the price action as we expected but the price action could not break out its Horizontal Resistance level which is marked between the $63,640 to $62,950 level.
The price action is heading towards its fair value gap level, 21 and 55 EMA have turned into the resistance level.
Whereas 89 and 200EMA still shows the strong support levels
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MAIN INTEREST LEVELS
⬇️SHORT⬇️
$62,950
⬆️LONG⬆️
$52,538
PREDICTED DAILY RANGE
$52,360 - $62,943
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VIP ACTION PLAN
The price action has retested below its level and the further downward movement we will be seeing in the coming days.
The price action on H4 timeframe level has turned all the EMAs into the resistance levels
Stay safe and move your stop loss to the breakeven
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.