Bitcoin bounced from $76,204 on September 2 and ran to $82,258 within two days, and is now coiling in a very tight range around $79,600.
Around $78,400-78,800, three things overlap: last week's average price, the level giving back two-thirds of this rally, and yesterday's bounce low.
A drop below $77,600 would break the floor that created this rally. That is why the stop sits beneath it, and losing it opens the road down to $76,200.
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.
