Morning, everyone. Lately, this market looks more and more to me like what we saw back in April this year.

Bitcoin has been going sideways for half a month, still stuck in a narrow range. On the 4-hour chart, the third buy structure has formed, but it failed to directly break through the 200-day moving average—which, based on experience, usually means a failed breakout.

Even if we reluctantly count this as the third buy, the 4h-level upward move has already played out. Next, we should be waiting for a daily-level downward move, which could directly evolve into a structure similar to the second retest we saw in April. If a divergence forms at the bottom after a peak interval, then a daily-level rebound could be on the way.

That's the technical logic for now—let's see how the market plays out.