If $BTC topped wave 1 at the September high, this drop looks like wave 2 unfolding.
A proper retracement lands us around 61.8%–78.6% from the July low — call it $69.1k down to $64.1k. That's the zone I'm watching. If structure holds and we see bullish RSI divergence off oversold plus a clean reversal on lower timeframes, that's your entry.
Depth and path? Unknown. But below $57.7k — the July low — the wave 1–2 count breaks and we're back to the drawing board.
Stay patient. Let the structure come to you.
A proper retracement lands us around 61.8%–78.6% from the July low — call it $69.1k down to $64.1k. That's the zone I'm watching. If structure holds and we see bullish RSI divergence off oversold plus a clean reversal on lower timeframes, that's your entry.
Depth and path? Unknown. But below $57.7k — the July low — the wave 1–2 count breaks and we're back to the drawing board.
Stay patient. Let the structure come to you.
