BTC has reached a test of the level that could potentially break the downtrend on the 3-hour timeframe. $82,715.

Additionally, in the past hour and this hour, 48 assets from the TOP 200 have already entered a sustained downtrend on the hourly timeframe. These include #BTC, #BNB, #DOGE, #SOL, and #XRP.

The move is quite unexpected for us, although, as you can see from the screenshots, it is a reaction to a Strong signal for a potential high on the hourly timeframe, and to regular signals for a potential high on the 2-, 3-, 4-, 5-, 6-, 7-, and 8-hour timeframes.

By the way, we didn't notice it right away, but today #BTC entered a sustained uptrend on the 7-hour timeframe as well, with baseline targets up to $86,292. But there too, the price is close to a potential breakdown level: $82,501.

Yesterday, we still considered a move higher in price, toward the levels where the downtrends could potentially break on the 12- and 18-hour timeframes: $85,365 and $85,135, respectively.

But so far, as we can see, the asset has encountered strong bearish engulfing patterns on several hourly timeframes. What matters now is which uptrends hold during this corrective move.

We would consider adding to our short position if the uptrend on the 3-hour timeframe breaks. This is our trigger timeframe, allowing us to ignore uptrends on the 4-, 5-, and 7-hour timeframes.

As we wrote overnight, the key action for this asset is happening on the weekly timeframe. The asset has now formed its third potential-high marker on the weekly timeframe.

Therefore, spot buying at current levels is out of the question for us. And so, for the entire market (where altcoins have plenty of these markers on the weekly and 3-day timeframes), we are also factoring in a correction for the rest of October and at least part of November.

The market is VERY likely to offer good buying prices to those who don't give in to FOMO right now.