Bitcoin spiked to $82,258 on September 3 and has since spent two days locked inside a narrow $79,200-$80,200 band, holding just over 3% below that high.
The 62% retracement of the September 3 surge, the short-term average price line and the September 4 low all overlap at $78,600-$78,900, and selling volume over the past two days dried up to a third of normal.
If the September 4 low of $78,609 breaks on a closing basis this call is wrong, which is why the stop sits below it at $78,150.
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.
