Btc rejected at AvwapBitcoin / U.S. dollarBITSTAMP:BTCUSDThecantillonreportBTC: The AVWAP Rejection (Coiled for a Structural Expansion) Bitcoin is currently testing the limits of its bearish regime. While we are seeing a technical "Improving" transition, the price action remains trapped under institutional gravity. The AVWAP Ceiling The most critical takeaway from the 4H chart is another clean rejection of the Anchored VWAP (AVWAP). The Resistance: Price attempted to reclaim the purple anchor (~$69,500) but was met with aggressive selling. The Implications: As long as BTC remains below this anchor, the institutional cost basis continues to reset lower. Reclaiming this level is the only way for bulls to regain the "upper hand" and invalidate the current bearish bias. Under the Hood: Volume & Macro The IVT Terminal readings suggest that while the move is "Improving," the foundation is still hollow: Despite the recent bounce, there is zero institutional accumulation clustering at these levels. We have no established floor yet. Bitcoin is currently a coiled spring. A compression that indicates that a massive, decisive directional expansion is likely within the next 24-48 hours. The Execution Playbook: The Bull Case: A definitive 4H candle close above the AVWAP ($69,500) shifts the narrative toward a test of the $72,000 reclaim level. The Bear Case: Failure to reclaim the anchor here will force it to reset lower. Without stability, the structural target remains the Point of Control (POC) and the previous Extreme lows near the $65,000–$66,000 range. Regime first. Volume second. Price last.