$BTC VIP Analysis November 8, 2022 -------------------- BIAS: | CryptoLoc Free Trading Group
$BTC VIP Analysis
November 8, 2022
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BIAS:
Mid-Term: Neutral
Short-Term: Bearish
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The bulls had no success yesterday breaking above $21,000 on the daily, which gave bears the short term edge and enabled an increase in selling volume, which has led us to a current local low of $19,300, which has been enough to clear liquidity of over 2 weeks in a matter of a few hours.
For the bulls to regain market dominance and strength on lower time frames, we must see another break and close above $21,000 in the next week. If not, we're heading towards sub $19,000 and potentially down to $17,00 for our next mid term support retest before a potential higher volume bounce towards new mid term highs.
Up Probability: 45% - Down: 55%
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MAIN INTEREST LEVELS
SHORT
$22,564
LONG
$18,950
PREDICTED DAILY RANGE
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