$BTC – D1 Overview + My Take

From the 125k top, structure looks like a clean Wyckoff distribution. Phase E (markdown) is active — bears control the tape.
Price is below the 34/89/200 EMAs, stacked bearishly.
The 70k–74k zone (34 EMA) is a hard ceiling. Until that’s reclaimed with strong volume, bounces are just countertrend moves.
The flush to 59k came on heavy liquidation volume. Since then? Weak drift.
RSI near oversold, but in strong downtrends it can stay pinned.
OI flat, positioning neutral — more pause than accumulation.
Macro risk (rising geopolitical tensions) keeps risk assets defensive.
High-probability path:
Chop between 59k–72k to rebalance liquidity.
• Break 59k with rising volume/OI → next leg down.
• Reclaim 70k–74k with strong volume → 59k likely local bottom.
Watch volume. Watch structure. Not emotions.