BTC tried once again to break and close above the mentioned level of 71k but so far failed to do so. After failing to reclaim it, it's dropping again. As mentioned earlier, until BTC closes above the 71k level, we are expecting BTC at 61k or a lower zone. If it closes above the 71k level, then we may expect some bullish momentum at least for a short period of time.
Not confirmed as a macro lower high yet; needs to lose $270 for that to materialise. But a retest of lower liquidity was always coming after a 40% move from the lows.
200SMA + $270 is the line. Hold it and the chart stays alive.
Two-level confirmation setup also still in play if it can break the descending trendline and flip the overhead.