BTC · 1H · DOWNTREND

The structure here is brutal and unambiguous — from the ~$82K highs in mid-May, BTC has printed a relentless series of lower highs and lower lows all the way down to current price near $61,450. The most recent leg was a near-vertical flush from ~$74K to ~$60K, followed by a weak dead-cat bounce that stalled around $64K and has since rolled back over. Price is now chopping just above the $61K zone, which was the most recent swing low and represents the last line before open air below $60K. My read is that any bounce here is a shorting opportunity — the trend is fully intact and the bounce structure since June 2 looks corrective, not impulsive. The news backdrop adds a bearish lean too: a major crypto-holding enterprise sold over 1.4 million shares last week, which is institutional distribution, not accumulation.

Setup: SHORT

- Entry: $62,000 (on any bounce into the $62K–$63K resistance zone where prior bounces have capped)

- Stop Loss: $64,200

- Take Profit 1: $59,500

- Take Profit 2: $57,000

- Risk/Reward: 1.1:1 to TP1 / 2.3:1 to TP2

- Confidence: MEDIUM