$BTC VIP Analysis

JULY 25th, 2024

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BIAS: 

Mid-Term: BULLISH

Short-Term: BEARISH

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As anticipated, $BTC on the H4 timeframe has formed lower lows after establishing a lower high, and the price action has successfully filled the FVG gap between $66,276 and $65,154.

We can now expect a potential bounce-back before any further downward movement.

This rebound may provide a short-term relief rally, but it's crucial to monitor the price action for confirmation of either continued downward momentum or a potential reversal. 📊📉

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MAIN INTEREST LEVELS 

⬇️SHORT⬇️ 

$66,550

⬆️LONG⬆️

$64,266

PREDICTED DAILY RANGE

$64,325 to $70,031

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VIP ACTION PLAN

On the H4 timeframe, the price action of $BTC has respected the support level of its ascending channel pattern.

The market seems to be attempting to squeeze out further liquidity.

If the support level fails and the price action breaks down, we could see a move toward filling the next Fair Value Gap (FVG) marked between $62,480 and $61,446.

This potential breakdown could signal further bearish sentiment and additional downside movement. 📉

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Yours truly,

Team CK