The Long Investor

$BTC TOP 20

Added 2024-10-03 11:39:28 +0000 UTC

I wanted to be wrong on my assessment of the white circled area.....where I said it is difficult to see how this is anything more than a 3 wave movement....making it difficult for an impulse wave higher to form.

I hope I am still wrong...but $BTC is making hard work on these support levels

The 200 Day MA failed on the retest and has so far sunk down to the 50 Day MA support level, it is holding here so far and I have the 0.618 Fib at $57,910 if the 50 Day MA doesn't hold, but losing these levels and the bearish scenario is playing out and I don't see how $BTC does not make a lower low as shown to Wave C.

Bulls need to ultimately get this back above the 200 Day MA and need to hold this as support, something it has not done since July.