bitBitcoin BulletsÂź Market Analysis
July 16, 2024
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âȘïžTECHNICAL (4H)
Bitcoin recently surged after breaking out of its descending trendline. It is currently encountering resistance at the 0.618 Fibonacci level, also known as the golden ratio. For the bulls to maintain momentum, a breakout above this level is crucial. If they fail, a short-term correction may occur before the next upward move.
âȘïžWRAP-UP (VIP)
Bitcoin surged after breaking its trendline and now faces resistance at the 0.618 Fibonacci level. Bulls must break this or risk a short-term correction.
$BTC DAILY RANGE:
đUpper Limit: 65000
đLower Limit: 60600
(+-12% based on moving average volatility open/endpoints)
đSCALP ENTRIES (VIP)
(*Advanced traders only - moderate/high risk)
đ”LONG
đČ61000
đŽSHORT
đČ67000
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Bitcoin BulletsÂź Trading
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