bitcoin:native Update 📉

We went short (Subscribers trade) at $78k after the rejection, and so far the market has done exactly what we expected.
The key part of the thesis wasn't just the rejection itself. It was the fact that BTC was repeatedly failing to reclaim higher levels while momentum continued fading.
Now we've got confirmation.
Price has broken down from the lower side of the ascending channel that has supported the move for months.
The next level that matters is $70k.
This is the last major support zone I'd expect buyers to defend before things get much more interesting.
- If $70k holds, we could see a relief rally and potentially build a base for another move higher. (Retest $80-85k)
If it doesn't?
- I think the market starts looking toward the yearly lows around $60k.
- That isn't my base case yet, but traders need to respect this without being bias. (I'm bullish on BTC in the mid-long term before you start commenting emotionally)
I want to see how price reacts around $70k before making any aggressive long-side decisions. (But right now, I'm 80% bearish)
Levels I'm watching:
- Support: $70,000
- Breakdown Target: $60,000
- Breakdown Target 2: $52,000
- Trend: Bearish below channel support
Now we watch whether $70k becomes a floor...or a trapdoor.
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