#Bitcoin price forecast update: $BTC broke some key levels on this dump that were important for the bulls to defend. There is still a bull case to be made (Path 2) but the probability for it to play out is significantly reduced (25%). Dipping below $90,672 would reduce its probability to under 10% and this bull path would be fully invalidated at $75,017. Path 1 is the most likely scenario with 65% chance of playing out. This path consists in a long sideway consolidation (probably past 2029) within a 80% or so range between $70K and $135K. Because of its corrective structure, this path could take a multitude of shapes between these two levels. in this scenario, it’s still possible for BTC to put on a new ATH. Even if we don’t put a new ATH it’s more likely than not that we’ll revisit the region of the last ATH. So far, there is no hard invalidation for this scenario but reaching $119,261 before the end of November will have me reduce its probability in favor of the bull case. #Trading #Tradestr View quoted note →