$BTC 📉⚠️🔻
🎯 Daily RSI back below 50 after just 2 days above. Trendline break = $58K first, $55.3K in play.
Last update: the 4H trendline was key, and range reclaim on the daily was the condition. Neither held. Trendline broke, range failed, and BTC slipped back inside.
Now sitting on the POC of the local range on the 4H.
But the real signal is on the daily:
• 44 days under RSI 50
• Recovered above for just 2 days
• Now back below
That's not a reset. That's a failed attempt. The cycle freshened up and immediately rolled over, which adds weight to the downside case.
If the RSI trendline on the daily breaks, structure points toward $58,000 first, and $55,300 as the deeper target.
The recent push to $74K stalled at the 50-day MA cluster, driven by short liquidations rather than fresh buying. That kind of move doesn't build floors, it borrows time.
RSI trendline holds = range chop.
RSI trendline breaks = lower low.
#BTC #ETH #ALTCOINS #TRADING #BITCOIN #MARKET 