Take two: the BTC rate has again entered a stable downtrend on the hourly TF today. And it did so after it updated the local high and with an overnight growth to $69,519 removed liquidity for the Friday high of exactly $69,000.

We are not changing our expectations - this was a delay, but not a cancellation of the correction. The only question is whether this is already a true reversal. Because on the hourly TF, only the basic targets were worked out in growth. But the older, closer ones - not.

We believe that this time the start of the correction is true. Because in addition to this reversal signal, the arguments for the correction include signals of a potential high on the 12-hour and daily TFs on candlestick structures. Which work very well on the BTC chart.

And 2- and 4-hour TFs have signaled a potential high. Although such signals have been weakly worked out on them more than once since October 10.

The logic of expectation is the same - these signals may not work only if BTC starts a bull run. And we still expect that before it, they will still "get wet" down.

An adequate correction for bulls is still the volume and mirror level of $64,120. There is a level of 0.5 Fibonacci growth from October 10 nearby (pulled over, now it is the rate of $64,232) and in the coming days the EMA of the 50 daily TF will come there (currently at $63,320).

A strong confirmation of the start of the correction will be the closing of the daily candle below the volume level of $68,232, or better, of course, below the downward trend with the ATH of March 14. It is now in the region of $67,950. This would be another test of it after the breakout. The ascending structure on the daily TF has not yet been broken, but consolidation below these levels in the coming days will cause a break. In addition, this would be the Bearish Engulfing pattern on the daily TF, for the first time since September.

We set alerts in P73 Trend & Target Dynamics for a transition to a stable uptrend on the hourly TF and a stable downtrend on the two-hour TF. The first is a potential yet another correction cancellation (after all, it's uptober outside, again. It's not worth ignoring). The second is its confirmation.

The BTC price volatility index went into a downtrend even a day earlier than we expected - on October 20. But the acceleration of the decline began today.

So far this speaks in favor of the fact that in the expected price decline (or, if expectations are broken, if the price grows) there will be no significant impulses. We expect the return of volatility to growth, if the trend is maintained, from October 27. In the overall picture, this suggests that if the volatility forecast works out, the price decline may not be strong. But with the Index there may be options for a trend break, so this cannot be called a guarantee. In any case, after this expected correction, we expect a move to a new ATH.