BTC Structure Update — Regime Still DefensiveBitcoin / US DollarCOINBASE:BTCUSDcodymiller12727Structure remains under pressure. On the daily BTCUSD chart, price has reclaimed 10 EMA but continues to trade beneath the 20 / 50 EMA stack, with the 50 EMA sloping downward and acting as dynamic resistance. The 200 EMA remains overhead, reinforcing the broader defensive backdrop. Recent candles show minor stabilization following the impulsive downside move, but no structural reclaim has occurred. What remains intact: • Lower highs continue to define trend structure • Price remains below key moving averages • RSI (14) stabilizing in the lower regime near 40, reflecting persistent downside pressure • ROC attempting short-term lift, but still structurally negative Counter-trend bounces are normal inside established downtrends. What matters structurally is acceptance — not reaction. Structural improvement begins above the 50 EMA with expanding participation. Until price can reclaim and sustain acceptance above that level, the regime remains defensive. No shift in structure. No shift in bias. Just continued pressure with stabilization attempts. Structure > Emotion.