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I'm short Bitcoin from $74K. Here's why.
Price swept liquidity above the previous range high and is now trying to hold that level as support. On the surface, that looks constructive, but when you zoom out, there's no rate cut from the Fed, a rate hike in Australia. Macro bias on HTFs is bearish across the board.
This is one of the most important levels Bitcoin has to hold right now. If buyers can't defend the previous range high as support here, we trade back toward range lows in the low $60Ks.
I don't think they hold it. Invalidation is clear, if BTC reclaims and holds above $74K with conviction, I'm wrong and I'll cut it. But until then, the macro is doing the talking and it's not saying what bulls want to hear.

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