If BTC is going to follow this schematic, It needs to form a HL above 75.5K and, ideally, hold above the 80K lows. That would be similar to 2023, when we formed a weekly HH, then came back to retest and respect the range. That probably explains why the LTF action feels so hunt heavy, aggressive and algorithmic. We reclaimed internal structure in the 82Ks, came down to retest it, broke structure again, then reclaimed it once more. It feels like the market is working hard to bait people. I’ll admit, that initial move back down into the 81Ks didn’t look great from a structure perspective. But around that time, a lot of shorts were piling in at the lows, which helps explain the reaction. Another interesting detail is only around 300M in longs were liquidated on the move from 84.1K to 81K, compared with more than 2B on the move from 86.8K to 80.6K. That decline in long liquidations suggests the market is becoming less long-dominant than it was before. Interesting times. We need to form a higher low and leg up from here. Otherwise, this correction could take us below 80K. For now, the plunge protection team is doing a good job of maintaining price while fucking with the LTF internal range.