$BTC The structure is bearish, with the price trading around 74422 between the Bollinger middle and upper bands. The middle band is pressing down near 73935, so overall this remains a rebound within a downtrend. The cost-basis zone is centered on the 73987.9 POC, which overlaps with a long-position breakeven wall of about $260 million near 73990.9—the first support on a pullback. Above, resistance at 74856.1 coincides with a short liquidation cluster worth about $39.3 million near 74859.1; if the price breaks above, this fuel is likely to be swept first. There is still room between the current price and resistance, making this a suitable entry point right now: short at market at 74365 without waiting for a rebound. Set the stop-loss at 74466; a move back above that level would indicate the rebound is gaining strength and the bearish structure has failed. Target the previous low support zone at 73486. There is also about $700 million of long liquidation fuel within the zone below, which could be swept in the direction of the trend. The risk-reward ratio is about 8.7. The main risk is that short-term buying is still returning: four-hour net inflows from aggressive buying are about $69 million, so the price could first spike toward 74800, sweep short liquidation fuel, then fall back and trigger the stop. #BTC #BTC Trend Analysis