This is just a benchmark, with some important spots marked on the chart
BTCUSD Daily is at a critical place chartwise, where if price goes up just a little more from right here (above a 61.8% retrace up of the big downmove from May), it is highly likely to reach previous highs, or,
if it goes down below one or two levels shown on chart, price could still easily bounce up to new highs.
But if price drops below 61.8% retrace of the move up from July to now, another severe drop could become likely.
BTCUSD Daily is at a critical place chartwise, where if price goes up just a little more from right here (above a 61.8% retrace up of the big downmove from May), it is highly likely to reach previous highs, or,
if it goes down below one or two levels shown on chart, price could still easily bounce up to new highs.
But if price drops below 61.8% retrace of the move up from July to now, another severe drop could become likely.
Comment:
BTCUSD just now took the expected drop back 38.2%, so now we will see whether buyers want this good price for adding, or whether BTC is in for major move down