$BTC DAILY UPDATE
Bitcoin has broken down from the support zone i marked in the last daily update.
It has also broken down from its 1.618 fibonacci extensionn ratio.
This is bad, as if price is not able to close back above that level, the 2.618 fibonacci ratio is the next target, sitting at around $86,000.
There's too much uncertainty in the market right now, from ETF giants selling their Bitcoin, all the way to the decreasing probability of a rate cut in December.
Stay cash ready during moments like this, don't get too aggressive too quick.
BTC
83,618.46
-8.34%