$BTC Urgent Update
If price doesn’t form another higher low pivot here and push back up, it’s going to have an important test at $80.5K very shortly, where the trendline support, horizontal support, and prior higher low all meet.
So far, price is still defending its higher lows, but each bounce within this range has been rejected lower against the falling trendline, which is now giving us a bit of a wedge structure.
As long as BTC holds above the green box and forms another higher low, we can stay relatively optimistic that the structure holds and price gets another attempt at continuation.
If it loses the wedge support, horizontal level, and prior higher low pivot together, then the structure shifts into a breakdown setup.
In that scenario, I’d be looking for an initial move back toward $79K, before assessing whether that trend support can prevent a larger flush lower.
