$BTC – For now, my overall standpoint hasn’t changed, as the price still hasn’t managed to break above the lost high-timeframe support range, marked in purple, which has been a strong reversal spot over the last couple of months.

Because of this, I believe that the best approach is to remain somewhat cautious and ready for a potential rejection.

Going forward, if the price can manage to break above this range, that would be a clear sign of strength and in that case, I would flip fully bullish.

Until then, I’m keeping some cash on the side, ready to hedge part of my spot holdings in order to mitigate the short-term downside risk in case of a rejection here, since that would open the door for a deeper pullback towards the high-timeframe support range marked in blue, aligning with the early-April bottoming formation around $75K.