Bitcoin peaked at 82,258 dollars on September 3, then spent five straight sessions carving lower highs and lower lows down to the 78,000 area.
Near 79,000 two average-price lines overlap with the high that capped every bounce for two days, and price had made a higher high while its upward force drained away.
So if a bounce pushes above 79,950 dollars the downtrend has been broken, and that is exactly where the stop sits.
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.
