✨️💫✨️ I'm watching for one specific sequence to tell me when this $BTC range is ready to break down.

In most bear market relief rallies, the ascending trendline from the lows breaks first, followed by the collapse of a key horizontal level. That's the typical order of a range break.

July 2022 gave us this exact textbook setup. $22.5K was the trendline, the horizontal support, and the EMA dynamic support all at once.

Once that combination of momentum was lost, the relief rally was done and the market started gravitating toward new lows.

Right now, $BTC's trendline support sits in the $63.3-63.8K region, with the EMAs just above it, and the key horizontal support at $62.2K.

If we see that confluence of levels lost, it most likely means this relief rally has run its course, and we start rotating toward the low of the range.

Above those levels, I don't think there's a real reason to be short-term bearish.

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