Bitcoin peaked at 82,258 dollars in late August, pulled back, and is now choosing direction inside a narrow band between roughly 79,400 and 80,000 dollars.
The medium-term average price line at 78,713, the recent pullback low at 78,609, and a longer average at 78,360 all stack up together across the 78,650 to 79,100 zone.
If that low breaks on a 12-hour closing basis, August's upward structure has failed, which is why the stop sits just beneath it at 78,080 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.
