2021-09-09 20:41:23
$BTC VIP AnalysisSeptember 9, 2021
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BIAS: Mid-Term: Bullish
Short-Term: Bullish
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After reaching yesterday’s higher low at around $45,600 BTC went for a quick short term run up to our current $47,400 high. Since we're currently ranging above $46,550 for now, which holds as one of our strongest short/mid term support levels, we could see a stronger push above in the next couple of hours before our daily close.
With a break and close above $47,400 on the 4H for BTC, we would be pretty much out of short term danger and buyers would gradually enter the market again, potentially pushing prices even higher.
With a break and close below $44,500 however, we would be confirming a bearish continuation that could reach as low as $40,000 - $42,000.
Up Probability: 58% - Down: 42%
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