BTC Since the monthly open, price first pushed roughly 5% to the upside before aggressively selling off and already retracing more than half of that move. A lot of breakout buyers were trapped during this move because they were likely expecting further continuation to the upside after BTC broke above the range highs. Many of those longs then quickly got squeezed out of the market, resulting in price now trading back below the range highs. From what it looks like right now, BTC will most likely close back below $85k, which would confirm the failed breakout. In that case, we would remain range bound for now, bringing the range lows back into play. What I’m waiting for next is a deviation below those lows to attempt my next swing long. I believe another expansion to the upside from somewhere around the $80k–$82k area is very likely, which is why I’d be willing to take that setup. Should bearish momentum be strong enough to push through this zone and invalidate that scenario, price will likely continue lower into the $77k–$75k region. That’s where I have another entry lined up for a second swing long attempt.