#Bitcoin is Dumping – But Why? Is It Over? 🤔

Yesterday, Bitcoin tested the range high for the third time and got rejected again. This area is proving to be strong resistance.

Previously, rejection from this same level led to a breakdown below the range. Now, this is the first time BTC is retesting the range high after reclaiming it.

A breakout on the first attempt is usually super bullish but rare, which is likely why we saw a rejection here

Now, two possible scenarios can play out:

🟢 Scenario 1 (Green):

Price consolidates a little and then breaks out aggressively to the upside.

🟠 Scenario 2 (Orange):

Price consolidates and breaks down toward the mid-range ($99,400 wicks below possible) for a retest before another leg up.

Overall, both scenarios are bullish. Scenario 1 is quick and explosive, while Scenario 2 may take a bit more time to play out since we haven't seen any retest after the range reclaim.