$BTC Price broke above 64k but couldn't hold the level,

Now we are getting a pullback and price is currently sitting sub 63k (prior support zone),

Perps CVD is slowly pulling back alongside spot CVD, which is also rolling over.

There weren't any major liquidation after the previous short squeeze other than some small longs rekt.

The higher lows is still holding and structure hasn't broken, so overall it's still bullish and could run to 65-66k,

But CVDs reversing at resistances is the same pattern that caused previous bounces to stall and decline.

So it could play out similar + I got a pivot coming up,

So everything aligns in the favor of bears and I wouldn't like longing here,

It's better to wait for price to get to our levels (posted earlier)

The two scenarios that could play out here are,

CVDs start improving again on the next push with OI expanding, that would break the current resistance (64k).

OR

CVDs keep on rolling over from resistance, that would get us lower,

And test the support zone that I was talking about in my previous post.

I will be monitoring how things play out in today's NYO.