$BTC VIP AnalysisNovember 9, 2022
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BIAS: Mid-Term: Bearish
Short-Term: Bearish
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Due to a general market weakness on lower time frames BTC has imploded over the last 24 hours, reaching a current low of $16,800 and clearing all liquidity from November 2020 (over 2 years).
THis move has been one of the strongest and most violent bearish market moves we've seen in months, and it could lead to the market reaction we were talking about. We mentioned a very likely move down towards long term liquidity, and that's exactly what we got. Now, as long as we remain above $17,400 on the daily, we expect to see a high volume mid term move up.
Up Probability: 41% - Down: 59%
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