$BTC has a bearish structure, with price tracking along the lower Bollinger Band near 68675 and the middle band continuing to slope downward. Net active selling over the past 24 hours is about 42,000 coins. The cost-basis center of gravity, together with a long-position cost wall of about $140 million, is concentrated around the 69075.6 POC. Along with the Bollinger middle band, another breakeven-supply level at 73080.6 worth about $100 million, and the 20-hour high at 72913, these form successive layers of resistance. A rebound into that area would be a selling opportunity. There is still room between the current price and the resistance band, so don't chase shorts at the current price. Instead, place a short order at 72913, the 20-hour high, and wait for price to pull back to that area before entering. Set the stop-loss at 72985.9, very close to the entry; if price regains and holds above the resistance band, the bearish structure will have failed. The target is around the 96-hour low at 67541. Below that, the long liquidation cluster at 66671, worth about $63 million, could provide support for the move. There are about 37,000 traders, with longs outnumbering shorts by roughly 2 to 1; open interest is about $2.56 billion, and long-liquidation fuel below within the range is about $490 million. The main risks are a sharp drop through the target followed by a rapid rebound, giving back short profits or even triggering the stop-loss, and short-term buying pushing price straight through the resistance band. #BTC #BTC Market Analysis