$BTC lost the EMA ribbon — the longer it stays under, the uglier this gets.
Ideal scenario: snap back above $76k fast, then reclaim the ribbon. If we don't, that ribbon flips to resistance and price bleeds lower.
Right now, reclaiming the ribbon is the first real sign buyers are back in control. Until then, this is a fade setup, not a long.
Watch $76k. Break and hold = maybe we're done bleeding. Fail = more downside pressure incoming.
Ideal scenario: snap back above $76k fast, then reclaim the ribbon. If we don't, that ribbon flips to resistance and price bleeds lower.
Right now, reclaiming the ribbon is the first real sign buyers are back in control. Until then, this is a fade setup, not a long.
Watch $76k. Break and hold = maybe we're done bleeding. Fail = more downside pressure incoming.
