$BTC VIP Analysis
October 7, 2022
BIAS:
MidTerm: Neutral
ShortTerm: Bearish
After reaching a local high of $20,500 yesterday, BTC has once again started to see some short term bearish pressure, which has pushed us towards $19,500, level around which we're still trading. As long as price action keeps seeing 4H closes above $19,000, we should be safe enough for a mid term continuation move.
On the other hand, if BTC sees a break and close below $19,000 on the 4H or on the daily, we're likely heading once again towards our $17,000 long term lows for another re, from where we do expect a higher and stronger bounce.
Up Probability: 48% Down: 52%
MAIN INTEREST LEVELS
SHORT
$23,314
LONG
$17,217
PREDICTED DAILY RANGE
$18,351 $21,033
