$BTC VIP AnalysisAugust 31, 2021
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BIAS: Mid-Term: Bullish
Short-Term: Neutral
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BTC headed down once again to a low of $46,700 before bouncing up again to $48,300. Price action is currently printing lower highs and lower lows on lower time frames while our long term trend remains bullish. This means we're likely breaking up in the next 5-7 days, a move we'll be confirming with a break and close above $48,500.
A lower low after our current short term price action wouldn't be a bearish sign, a real mid term breakdown would occur only with a solid break and close below $44,500. This is unlikely, however it's a scenario we need to and will be prepared for.
Up Probability: 56% - Down: 44%
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