BTC Post-Range: Where Next After the 17-Day Consolidation BreakBitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.Palpha_trader_TV 17 days in a range. Finally broke south. But the real question isn't "which direction" — it's who's still positioned wrong. Key Levels: • Range low (broken): $64,800 • Current price: ~$63,300 • Next demand zone: $61,200–$61,800 (weekly FVG + liq cluster) • Invalidation: Reclaim $65,000 (back inside range = failed break) • Downside target: $58,500–$59,000 (next major liq pool) Derivatives: OI flushed hard — $470M+ liquidated in the breakdown. Funding reset to flat/slightly negative. That's seller exhaustion brewing, but structure is still bearish until we see a reclaim. Perp-spot spread negative = spot leading the selling, not leveraged longs. That's heavier. Base Case: Dead cat bounce toward $64,800 range low (now resistance), reject, continuation to $61,200. If $61,200 holds with OI rebuild and funding stays flat, that's your higher-probability long setup. Losing $61,200 opens $58,500. Watch for: If funding spikes negative and OI keeps dropping — that's panic, not trend. Snap reversal territory. But until $65K reclaims, every bounce is a sell.