$BTC I'm still expecting a relief bounce to retest some of the recent breakdown levels.

Price has started to stabilize after the recent selloff, while volatility on the weekend remained relatively low.

But that should change later today or at the latest tomorrow as liquidity returns to the market.

If we get the bounce I'm expecting, the first level to watch will be the monthly open. A rejection there would likely lead to a relatively quick bearish continuation, where a sweep of the recent low at $72.5k becomes increasingly likely.

If price, on the other hand, manages to reclaim the monthly open, we should see a move into the key breakdown zone between $78k and $79k.

This area is not only our main liquidity target, but also lines up with multiple bearish confluences such as the Fibonacci Golden Pocket and the 200EMA.

This remains my primary scenario and the area where I believe the formation of a lower high is most likely.

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