📊 Despite heavy bearish talk, $BTC is still holding above the August 4 SPX lows, and price action continues to respect the 100k–120k range since May 19 — a solid 4 months of consolidation.
🔎 Key Observations:
Purple Structure → Mirrors the last 100–110k range setup.
Third Tap Zone → Likely capped around 105k if the pattern repeats.
Upside Probe → Still expecting one more push into 117–118k before any decisive breakdown.
Bearish Argument Weakening → The break of 112k should’ve triggered a deeper impulse, but it didn’t. That in itself is a sign.
📉 Why 89k?
I don’t see a real need for a sweep of 89k — it would only delay the cycle climax rather than fuel it.
⚡ Trade Bias:
I’ll short the next thrust toward 117–118k if it comes.
Until then, the broader bias stays range-bound, not outright bearish.
👉 Question to the room: Do you think the 117–118k tap happens before we roll lower, or do bears finally get their 89k flush?
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