$BTC All this has been doing is chopping up overleveraged bulls and bears on both sides. $83K & $85K have failed to hold for the past 7 days.

$BTC If this deviates below $83K I am going more defensive mode until the Fed/Treasury steps in and defends the long end yields in some shape or form like Bessent tried doing a month ago. That didn't have any effect in the end for the yields but did spark the BTC & Crypto rally halfway through August. Alternative could be Trump taco'ing on the war which should ease inflation expectations, bring oil down and also gets yields lower. Midterms next month so maybe he'll time it right before so the "win", which he would label it as, is fresh in everyone's minds. I think that if the chart confirms a breakdown after sweeping the may highs at $83K, with these things at play, it doesn't hurt just taking it chill until something changes It has been an amazing few months for gains so rather defend that capital while it is still at its highs. For now let's see if $83K holds or if the bulls can retake $85K. We've just been ranging here for the past week in the end. But below $83K this will be my train of thought. I also think that would signal a more risk off environment for alts if it happens. High timeframe market structure flips are great, but you do need to see follow through. A rejection below your breakout level as sentiment flips bullish and lots of ETF flows come in above, is not the recipe for the continuation of a bullish environment you want to see. Just my two cents.