$BTC has lost its H1 bullish structure, but spotting a downtrend doesn’t mean you should Short right near the bottom.
CHoCH below 80,822.6 and BOS below 80,355.4 were both confirmed by candle closes, with volume at 2.28× and 2.72× the average of the previous 20 candles, respectively, while rebound highs continue to decline.
According to Wyckoff, this could be a markdown phase after redistribution; according to SMC, sellers still have the advantage, but the latest volume was only 0.72×, so continued selling pressure isn’t particularly convincing yet.
The heatmap shows estimated liquidity around 80,600–81,000 above and 79,000–79,400 below, creating a risk of positions being swept on either side rather than guaranteeing price will move straight down.
Bearish bias — no entry yet: will the next rebound continue to be rejected, or will those chasing Shorts pay the price before the market tests the lows?
CHoCH below 80,822.6 and BOS below 80,355.4 were both confirmed by candle closes, with volume at 2.28× and 2.72× the average of the previous 20 candles, respectively, while rebound highs continue to decline.
According to Wyckoff, this could be a markdown phase after redistribution; according to SMC, sellers still have the advantage, but the latest volume was only 0.72×, so continued selling pressure isn’t particularly convincing yet.
The heatmap shows estimated liquidity around 80,600–81,000 above and 79,000–79,400 below, creating a risk of positions being swept on either side rather than guaranteeing price will move straight down.
Bearish bias — no entry yet: will the next rebound continue to be rejected, or will those chasing Shorts pay the price before the market tests the lows?
