BTC VIP Analysis NOVEMBER 9th, 2024 - BIAS: Mid-Term: BULLISH Short-Term: BULLISH -- The price action of $BTC on the daily timeframe has successfully broken out from the resistance trendline of its symmetrical triangle pattern, creating a new higher high. 📈
All key EMAs (21, 55, 89, and 200) are currently acting as support, reinforcing a stable foundation for further upward movement if this level holds. 🛡️ -- MAIN INTEREST LEVELS
⬇️SHORT⬇️ $77,413
⬆️LONG⬆️ $76,680
PREDICTED DAILY RANGE $67,464 to $77,413 -- ACTION PLAN
On the H1 timeframe, the price action has displayed bearish momentum within the ascending channel pattern 📉.
Now, it’s consolidating along the support trendline of the channel, suggesting the potential for a bounce back from this level if it holds 🛠️. -- Yours truly, Babycakes®
The next 24 hours are very important for Bitcoin and the crypto market, as the U.S. presidential election results will soon be announced. Right now, the market is uncertain, so we’re sharing fewer trades in the group. Once the election results are in, we’ll adjust our trading strategy. Until then, if we share any trades, please use smaller amounts, lower leverage, and tight stop-losses.
BTC Analysis NOVEMBER 3rd, 2024 - BIAS: Mid-Term: BULLISH Short-Term: BULLISH -- As anticipated, the price action on the H1 timeframe for $BTC has successfully filled out the FVG gap between $68,213 and $67,902 🟢, with the region now serving as horizontal support.
Currently, consolidation in a compression pattern 📉 is forming, signaling potential strength in this area. This setup increases the likelihood of a bounce back from this support level, giving potential for an upward movement 📈 if support holds steady. -- MAIN INTEREST LEVELS
⬇️SHORT⬇️ $67,902
⬆️LONG⬆️ $68,335
PREDICTED DAILY RANGE $68,449 to $76,768 -- VIP ACTION PLAN
On the H4 timeframe, the price action is consolidating at a horizontal support level after breaking down the support trendline and testing this region 🔻.
This setup suggests that while a short-term bounce may occur 📈, there is still underlying liquidity below that could be targeted.
If the price action retests and closes below $67,902, we could see a move to squeeze out these lower liquidity levels.
This dual possibility gives a balanced view, with a potential bounce in the short term but a cautious outlook for further downside if lower supports are challenged. ---- Yours truly, Bab¥ofAfrica®