$BTC VIP Analysis July 5, 2021 -------------------- BIAS: Mid-Term: Bullish Short-Term: Bearish -------------------- Kicking off the second week of the month (our first complete July trading week) with a break below our more than familiar POC (Point of control) at $34,000. The range we've been in for almost 2 months is tightening to its limit while neither buyers nor sellers are putting enough pressure on the market to create a decent break-out of break-down move.
Volatility is currently at a dangerously low multi month level meaning that a violent move is past due. Each and every time we've had such a long lasting and tight trading range we've ended up breaking up/down with extreme strength and volume.
Up Probability: 41% - Down: 59% --------------------
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