$BTC The structure is bearish, with the price facing resistance from the overhead cost basis zone around 73733. It is trading below the Bollinger midline at 73974, while the bands continue to slope downward. Net aggressive selling over 24 hours is about 15,700 coins, and daily net capital outflow is about $170 million. The high-volume trading zone is concentrated around 74719, overlapping with the 20-hour high at 74979, structural resistance at 75030.4, and the upper Bollinger band at 75111 to form a resistance zone. A rebound to that area would be a selling opportunity; however, the short-term bounce is not strong enough to reach the ideal limit-entry level, so rather than wait for a pullback, enter a short at market at 73733. Set the stop-loss at 74794. If the price holds above this level, it would indicate that the bounce has turned into a genuine breakout and the bearish structure is invalidated. The target is 72741, between the lower Bollinger band at 72836 and the recent low at 72668. On-chain positioning is also bearish: within the current price range, long liquidation fuel below is about $700 million, far exceeding the roughly $160 million above. The short liquidation cluster around 74156.1 is only about $45 million, leaving little fuel for an upward breakout. By number of holders, longs outnumber shorts 28290 to 12530, so retail traders remain net long. The main risk is that short-term buying is still flowing in: aggressive buying over the 4-hour period shows net inflows of about $94 million. The price could break directly above the resistance zone and stop out the short position. There is also substantial liquidation fuel below 72668, and a sharp drop followed by a quick rebound could trigger the stop. This trade requires withstanding volatility. #BTC #BTC Price Analysis