$BTC – There are two main scenarios here, depending on how broader markets, geopolitics, earnings, the Fed, and leverage play out over the next few days.

The first is a bullish backtest of the prior high-timeframe resistance range, aligning with the April 2025 bottoming formation, where price holds here and moves higher.
I’m not leaning toward this, mainly because there’s still a lot of untapped liquidity below.
The second is a deeper pullback toward the $70K–$72K region, where strong support sits.
This would likely flush overleveraged longs on the low timeframes before a more durable move higher. This is the scenario I see as more likely.
In terms of positioning, I’m doing nothing, which, in my view, is the best approach right now. The high-timeframe structure remains bullish in both cases, so there’s no need to overtrade.
If we get the deeper pullback, I’ll look to rotate some of the profits from semiconductors into BTC. If not, I’m already positioned from the accumulation over the past couple of months.