$BTC I believe this is the most important chart we need to be paying attention to right now.

USDT.D had the scam wick (the 59K BTC wick). It then moved up and retested the prior range highs on the left and rejected. Now it’s showing signs of accepting back below, a textbook retest and acceptance back into the range.

As of now, as long as this retest holds, we are theoretically showing acceptance back into the range.

What does this mean for BTC?

If USDT.D holds this retest and continues accepting back into the range, we can target the grey box, which is what I’ve primarily been focused on on the HTF.

I don’t think we will test 6.67%, that seems quite unlikely given the strong bearish trend, but a test of the grey box is definitely plausible after this move down for BTC.

We’ve had 5 consecutive red months, and even the smallest retest would help rebalance the market.

Either way, if we break above the previous high, #BTC likely breaks down to 50K. In that scenario, we would only get the bearish retest after sweeping the current ATH on USDT.D, which would be quite surprising without first getting a meaningful bearish retest.