If BTC holds at $62,200 in the next 8 hours, the daily TF chart will get a "Morning Star". Although in the daily review, this was not an obvious scenario for us, for which there were no reasons. We did without reasons.

There are chances for a reversal from the current ones. Although in our understanding it still doesn't fit and we need to go to the $57,709 area. But the last few days have been able to surprise.

The main condition for the formation of the "Morning Star" in the current conditions will be to prevent a bearish shadow from today's candle. Even a hint of buyers' weakness. It should be a "full-bodied" green candle. Otherwise, there may be variations with the pattern's development. It is also important to close above $62,200 to break the descending candle structure on the daily chart.

Moreover, if selling pressure begins before the end of the day and the price corrects itself to the upward trend since September 6 before the close of the day, this will be the second bearish candle in a row and the second unsuccessful breakout of trend resistance.

The conclusion remains the same - today decides a lot in the technical picture.

On the hourly two-hour TF, P73 Trend & Target Dynamics have a potential high, including Strong Signal. At least a range is suggested. Let's see what the bulls are capable of. Will they be able to extend the trend, which has potentially exhausted itself.

On the four-hour TF, the trend according to the indicator is still downward, but the basic targets there have already been worked out and the chances of a change in the stable trend are high.

An alert has been set. If there is a signal, this is the potential for continued growth beyond the volume level of $62,987 - to the region of $63,500-63,600, to trend resistance (including global resistance since October 2023, marked with a dotted line).

By the way, the #BTС Price Volatility Index continues to steadily decline according to the forecast, just as it had grown according to the forecast before. The dates for the Index reversal remain the same - October 14-16. Uptobet, is that you? 🤔