$BTC VIP AnalysisNovember 21, 2022
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BIAS: Mid-Term: Bearish
Short-Term: Neutral
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BTC has seen another short term bearish move towards $16,000, around which we're still trading now. If we see a bullish reaction around this level, we would likely confirm a mid term triple bottom, which would likely take us towards $17,500 and potentially $19,000 in the next couple of weeks.
On the other hand, a break and close below $16,000 would likely send BTC and the rest of the market to new long term lows, levels that are expected to clear even more long term liquidity before seeing a solid mid term bullish reaction.
Up Probability: 53% - Down: 47%
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