$BTC is currently testing the lost high-timeframe support range around $64K and seems to be rejecting on the low timeframes.

As many of you already know, after the breakdown below $77K, I hedged my entire spot position once again, after scaling out of my hedges back in February and March.
What some of you may not know is that a couple of days ago, at $58.5K, I scaled out of half of these hedges and rotated the capital back into spot. This was an alert shared for subscribers only.
Right now, I’m currently half hedged and tracking further developments on the low timeframes. My base case is that we see a breakout above this range, followed by a bullish backtest of the newly reclaimed high-timeframe support range.
If that happens, I’ll be looking to scale out of the rest of my hedges and rotate the capital back into spot in order to position myself for further upside.
However, if we see a more durable rejection here, followed by a breakdown below the 1D Bull Market Support Band, which has been a strong reversal spot over the last couple of months, then I believe Bitcoin could pull back deeper inside the high-timeframe support range at $56K-$58K.
That is where I think a more durable bottoming formation could develop.