Bitcoin peaked at 82,258 dollars and has been sliding for four days, and it is now back testing the support shelf around 78,600 dollars.
The 12-hour 20-period average, the pullback zone measured from the surge's starting point, and the low from four days ago all overlap at 78,450-78,790 dollars.
If a 12-hour candle closes below that shelf the uptrend is considered broken, which is why the stop sits underneath it at 77,900 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.
