BTCUSDT – Distribution Phase Still ActiveBTCUSDTPERP PERPETUAL MIX CONTRACTBITGET:BTCUSDT.PSirCharIesBTC is still trading below the weekly 20EMA, which keeps the macro bias bearish. The recent bounce into the daily EMAs is showing signs of exhaustion, not continuation. Structure Summary: Weekly trend is still down → lower highs forming. Daily rejected the 5/10/20 EMA stack → momentum still bearish. No sign of reaccumulation yet. Until price can reclaim the weekly EMAs, upside is relief only, not trend reversal. Bias: → Shorts remain valid → Watching for a breakdown → continuation toward $98,800 - $92,500 demand. Invalidation: If BTC closes strong above the daily 20EMA and consolidates there, bias flips back to neutral. would expect chop as had a lot of back and fourth Until then → distribution phase continues. Trade Plan: Let price pull back into ma's Look for LTF bearish confirmation Short into continuation leg down This is not the stage to try catching a falling knife peeps We trade trend alignment, not hope. Does this bounce look like re-accumulation to you, or just a relief rally into supply? At what price would you consider BTC to have truly reclaimed bullish structure again? If BTC continues lower, which alts do you think hold up best during the next leg?