Bitcoin Analysis
OCTOBER 1ST, 2024
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⚪️TECHNICAL (DAILY)
The price action of $BTC on the daily timeframe is getting rejected from its resistance trendline while holding its horizontal support level. 📉🛑
However, the price action is still consolidating below the resistance, showing signs of weakness. 📊⚠️
⚪️WRAP-UP (VIP)
The price action of $BTC is currently holding its support region, but to confirm bullish momentum, it needs to flip the resistance region into support and break out of its resistance trendline. 📈🔄💪
This would signal a stronger upward move ahead. 🚀📊
$BTC DAILY RANGE:
📈Upper Limit: $72,926
📉Lower Limit: $54,016
(+-35.01 based on moving average volatility open/endpoints)
📌SCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
🔵LONG
💲63,927
🔴SHORT
💲63,234
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