BTC has shifted into a stable downtrend on the hourly timeframe, and this is the third attempt during the pump. The prior highs marks on the 3-, 4-, and 12-hour timeframes that were mentioned in the overnight report are playing out.

The other two attempts were on August 23 and 26. On both occasions, the downtrend breakdown occurred without reaching the third—and even without reaching the second—basic target.

Now, within the new downtrend, the base targets are up to 78,153$, BUT at the same time the price already has a third mark of a potential high on this timeframe, which again raises the question of the sellers’ ability to start with a correction of the pump.

A far more interesting signal is that the price has formed something like a "Bearish wedge," which was also discussed overnight. And it has started working out from it. The full target of the pattern is in the area of 63,771$, but we put the full completion into question until the sellers manage to form a sustained downtrend on the 3-hour timeframe.

Right now, at the moment, the price is testing the 79,000$ level. And it shows a strong bullish-like signal on the 5-minute timeframe, so locally a pullback seems to be implied.

If you look at our P73 CryptoMarket Monitor for today, then within the day already 60 assets out of the TOP-200 have shifted into a sustained downtrend on the 1-hour timeframe.

Moreover, on the 2-hour timeframe in this hour there are 27 assets (including ETH) showing a mark of a potential low. So a quick move down is still in question. We need confirmations via sustained downtrends.