BTC 63,500 Flipped From Invalidation to Reclaim TriggerBitcoin FuturesCME_DL:BTC1!IvanLabrieOn 10 August I published 63,500 as the level that would change my mind on bitcoin, and said it was the only one that would. It closed below on 12 August and has closed below every session since. The read that level governed is off. What the same number does now is the opposite: a daily close back above 63,500 re-arms the 10 August bullish leg. Same level, both directions. This week's open is the first thing worth watching against it. Price ran into the bottom of the mode area I have marked at 63,680-64,485 on the CME contract and did not hold there, with the point of control at 63,700 sitting inside the band. So bulls did try. Trying is not taking it, and I want more than one push into that band before I give it to them. The timing of a reclaim is what tells me whether the base into mid-September I flagged 15 August is a call or a working hypothesis. The number was published before the outcome, which is the only way a call means anything. Cheers, Ivan Labrie.