The BTC price is approaching 103,000$ and is giving a strong signal of a potential low on the hourly timeframe. The last time this happened was on June 6, around $100,300.

But it is important to keep in mind that there can be up to three signals of a low. And for now, we don't even have the first candle closed.

If the situation repeats, the next 2.5 hours should provide an ideal entry point. We need to watch for signs of buyer strength, but so far, it is not visible.

All targets of the sustainable downtrend on the 3- and 4-hour timeframes have been met. Moreover, the price has entered a stable downtrend on the 6-hour timeframe and has already met 2 out of 3 basic targets there. The remaining target is $102,438.

On horizontal levels, the price has reached a tight range of $102,776 - $103,715.

We do not expect a more severe collapse below $100,000. Rather, we expect that the low of the dump is somewhere closer.

As an option, we may see another test of the EMA 50 on the daily timeframe, currently at $102,480.