$BTC VIP Analysis
October 8, 2022
BIAS:
MidTerm: Neutral
ShortTerm: Bearish
Price action for BTC remains neutral in the mid term and bearish on lower time frames, since our move down to $19,500 yesterday. We haven't seen any important increase in trading volume over the last couple of hours, probably due to our weekend trading session, however, we can expect to see an increase in volatility around our weekly close tomorrow, enough for a mid term confirmation.
As we've already told you, $17,200 and $21,000 remain our most important mid term levels which will determine our next mid term move, probably lasting at least a month or two.
Up Probability: 47% Down: 53%
MAIN INTEREST LEVELS
SHORT
$23,314
LONG
$17,217
PREDICTED DAILY RANGE
$18,302 $21,047
