$BTC Analysis JUNE 07, 2024

7 Jun

BTC Analysis
JUNE 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.



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