Bitcoin spiked to $82,258 on September 3, then pulled back about 4% and has spent three days catching its breath near $79,300.
Several reasons overlap at $78,600-79,100: the medium- and short-term average price lines both sit in this band, and it is exactly where price dipped to $78,947 early today before immediately recovering.
If $78,080 breaks, the $78,609 floor that survived even the September 4 jobs-report shock has given way - and at that point this view is abandoned.
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.
