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BTC Bullish structure is beginning to break down. After a sharp selloff, price has now swept the recent low but hasn’t quite found acceptance below it yet. Once BTC closes below $77.6K, structure will flip bearish and I’ll look for additional confirmation to open a short. Should price, on the other hand, find further acceptance back above the recent low, there is a chance that we continue chopping around for a bit longer. However, for now my main scenario remains lower, especially as spot has continued selling throughout the entire move. If structure does flip bearish, the $74K–$76K area remains my main target, as that’s where a large amount of downside liquidity has built up.(Max Trades)
