Bitcoin gained 25 percent in August to peak at 81,490 dollars, then slid to 76,850 before recovering back to around the 78,500 level.
It bounced twice near 76,900 to carve out a floor, and that price is exactly where the 4-hour average price line and the support shelf overlap. Crucially, selling volume dried up to a tenth of its peak during the decline.
If 76,850 breaks, the entire basis for calling this a floor disappears, which is why the stop-loss sits just below it at 76,500 dollars.
The full analysis is for members
Analysis by methodology (ICT, Wyckoff, Elliott, divergence, macro, news), invalidation levels, R:R and confidence are in the member report.
