BTC/USD — June 8, 2026 — Dead Cat or Reversal?Bitcoin / U.S. dollarBITSTAMP:BTCUSDRisk_and_RyeWeekend recovery bounce continuing. Price forming a rising wedge on 4H at the bottom of the recent sharp decline from ~$76K. This structure could be either a dead cat bounce before further downside OR early signs of a genuine reversal. BULLISH SIGNALS (4H): - MACD histogram turned green and growing — genuine momentum shift, not a weak flicker - RSI at 52.82, above RMA at 42.82 — RSI reclaimed above RMA, bullish short-term momentum - Price bouncing off recent lows with higher lows forming inside the wedge - ATR at 1,253 — normal volatility, not panic selling BEARISH SIGNALS / WATCH FOR: - Rising wedge is a bearish continuation pattern — if it breaks down, bear flag thesis resumes - POTENTIAL BEARISH RSI DIVERGENCE DEVELOPING: RSI printing higher highs (~52) but if price makes a lower high than the last bounce attempt (~$65K), that prints divergence. Not confirmed yet — needs one more swing to validate - Full MA ribbon still spread bearishly above price from ~$66K to $73K — massive resistance overhead - Still inside the broader descending channel from the $76K high - Weekly bias remains SHORT KEY LEVELS TO WATCH: - Resistance: $65,000-$66,000 (bottom of MA ribbon, channel upper trendline) - Support: $59,000-$60,000 (recent swing low) - Wedge breakdown trigger: ~$62,000 (lower trendline of rising wedge) CONCLUSION: Neutral-to-bearish. 4H momentum is temporarily bullish but the larger structure remains bearish. Watch for wedge breakdown at $62K for bear flag continuation, or a break above $66K to invalidate the short thesis. The developing RSI divergence is the key signal to monitor this week.