Bitcoin topped at $82,258 in late August, sold off to $77,598, and has since recovered back to around the $79,200 level where it trades now.
Around $78,000 several things stack in one place: the retracement sweet spot of this advance, the lower 4-hour volatility band, a bounce low, and visibly fading selling pressure.
If the $77,598 low gives way, the entire reason for treating this area as support disappears, which is exactly why the stop sits just beneath it at $77,250.
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.
