$BTC Analysis JUNE 07, 2024
BTC AnalysisJUNE 07, 2024
BIAS:
- Mid-Term: BEARISH
- Short-Term: BEARISH
Summary:
On the H4 timeframe,
BTC has been rejected from its horizontal resistance level between $71,515 and $70,692. It is expected to move into the FVG gap level marked between $70,104 and $69,181.Main Interest Levels:
- SHORT: $71,990
- LONG: $70,692
Predicted Daily Range:
$73,937 to $62,994
Action Plan:
After being rejected from its horizontal resistance,
BTC is forming a lower high leg before moving downward. On the H1 timeframe, BTC has broken down its neckline level and is currently retesting above it. A downward movement is anticipated from this point.Psychology, discipline, and capital management are the three essential factors for achieving victory.
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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.