$BTC has shown significant growth since the low volume of the weekend, despite a clear seller aggression.
Today, price managed to grow from the 67k, under where demand resides protecting, towards 70k, touching the daily resistance.
During the growth, the ADMF showed a money accumulation that didn't surpass previous attempts at rallies, despite reaching higher before a drop. Open interest showed bearish correlation to leaving positions, and further bullish contracts entering the book. The drop didn't change them significantly at the moment.
It seemed to be growing towards a potential 70k breakout, stopping by the Point of Control (PoC) at 67,9k. After failing to break the channel level aligning with a daily ongoing downtrend, wicking through and stopping by the 68,331 support before a recovery to the floor of one of the rejection areas floor.
The current scenario hints at either a moment of exhaustion the bulls, and a long squeeze of market manipulation. A massive sell order bubble appeared on the order book tape, reinforcing that buyers reached exhaustion at the previous level, and sellers had little to no struggle to pull price down likewise to the candle that pushed price upwards hours ago.
Failing to hold at 68,5k and recovering to 69,2k over the next hours will make the next support levels the highest wick above the EQH support zone before the +$2k candle, at 67,562, and the EQH zone itself at 67,4k. A deeper drop will likely meet the PoT (Point of Tension) at 66,7k, and revisiting the major support level at 65,6k, where the first demand block defends price with a discount. Funding rates remark the sellers outnumbering buyers, where now shorts pay longs to keep their positions open.