The evening of Friday has put everything in its place for BTC; sales have absorbed all spontaneous growth.

Yesterday we wrote that the impulsive growth towards $106,524 is deviating from our forecast and expectations. But ultimately, the price dropped from $105,977 to $103,940 in one 4-hour candle. By the way, it formed a pronounced 'Evening Star' on this timeframe, which certainly has not fully played out yet.

Let’s recall this part of yesterday's review, which was before the sharp drop:

"... The decline since June 16 is already, albeit with some conditions, a 'Bear Flag'. If it were to be processed now, it would have targets of $100,689 and $98,774. In reality, the targets should turn out to be slightly higher. But they are roughly clear and similar to those indicated yesterday. They can be relied upon in case of a breakout in the area of $104,250-$104,300..."

As a result, the price on the dump exited the 'Bear Flag' and made a retest of the breakout with the next candle. The targets of $100,689 and $98,774 do not need to be reconsidered; they remain roughly the same as previously anticipated. We thought that the exit from the figure would be later and, accordingly, its targets would be higher.

On the lower timeframes, another local 'Bear Flag' is being formed alongside yesterday's events. This could also lead the price towards $100,000. No matter how you look at it, the downward impulses, continuing the correction, are currently laid out on the chart.

So far, we are locally observing a rebound after yesterday's decline, which is coming from a strong signal low on the 30-minute timeframe. But in this rebound, there is currently only a test of the EMA 50 on the 30-minute timeframe. The price is testing it, showing another mark of a potential high, which could start the processing of a local flag.

On sustainable trends in hourly timeframes:

- In the recent decline, the price returned to downtrends on the hourly and 2-hour timeframes, fulfilling three out of three basic targets on the hourly timeframe and almost two out of three on the 2-hour timeframe.

- It should be noted separately that yesterday's decline carefully took the third basic target of the downtrend on the 3-hour timeframe, $102,472. As well as the third basic target on the 6-hour timeframe, $102,438. At one point, the price dropped to $102,345.

- Almost reached the second basic target of the correction on the 4-hour timeframe, $102,281. The target of $101,104 also remains. Currently, there is confidence that sellers will take it.

The key support right now is the EMA 50 of the daily timeframe at $103,193. Yesterday, the price made a squeeze below but was able to bounce back.

But the more actively the price presses against this moving average, the greater the risks of breaking the support. And for now, our expectation is indeed a breakout. The price is heading towards the psychological $100,000 area, testing the trend support at the lows of May 12 and June 5. Right now, it is at $100,047.

Regarding horizontal levels, we wrote yesterday that the price is suspended between $106,720 and $105,405, and a breakout in either direction would open the way to the next supports and resistances indicated in the screenshot. Ultimately, the level of $105,405 was first tested, and then the price went down impulsively. The only support was the level of $102,870. The price was squeezed below but then began to recover, and now it is above the level of $103,715. As long as the price remains above, there is potential for testing the next resistance at $104,654.

But we still believe that the price is ready to go lower, retesting the broken supports from yesterday.

In summary, the situation remains the same as in the last few days:

- We still do not see significant signals for a reversal and further growth.

- The most bearish correction scenarios we currently allow are tests of two moving averages:

-- EMA 50 of the 2-day timeframe (currently at $99,260, not tested since the end of April),

-- EMA 200 of the 12-hour timeframe (currently at $99,112, also not tested since the end of April).

- We still believe that this is a local decline. And that the growth towards a new ATH is a matter of the near future.