BTCUSD Market update BitcoinOANDA:BTCUSDephraimiykkCurrently, I’m not fully aligned with the “bear season” narrative yet. Price action is showing signs of distribution, with consolidation forming on the right side of the range. Key Levels: Resistance: 70,880 Support: 70,000 Price is reacting within this range, suggesting supply is building up. A confirmed breakdown below 70,000 support would likely trigger a markdown phase, leading to a bearish continuation with new lower highs and lower lows. Until that breakdown happens, this remains a distribution range — not a confirmed bear trend. Bias: Neutral → Bearish on breakdown