The Elephant Jungle 7/31/26 Page 1BTCUSDT Perpetual ContractBYBIT:BTCUSDT.PRedElephant420With less than 17 hours left on the clock, there is a good chance that the month of July will end with a Bullish Candle. The Bulls seem to be using the 2022 Anchor VWAP as support, and so far, it is working pretty well for them. But the real question is, how Bullish is this candle actually going to be? According to Candle Range Theory, we would want to see July Close above the Previous Candle to really consider this Bullish enough for the Bulls to continue pushing higher. But maybe this is just the beginning of the Bulls climbing their way back toward All Time Highs. I mean, the Bulls would close back inside the Macro Range, and according to Range Theory, once you deviate outside one side of the Range and close back inside it, the next target would be the other side of the Range. But I don’t think the Bears are done yet. I think they just need a breather. The Bears did leave behind a huge 1M Order Block with the Macro VAL lined up with it, so maybe we only see the Bulls climb as far as that 1M Order Block before the Bears decide it is time to dump it again. Or maybe, just maybe, this is the Pullback the Bears are going to allow the Bulls to have, before turning around and making it dump city all next month. That is the beauty of this Jungle. We have a Bullish Monthly Close potentially forming, a massive 1M Order Block waiting above, and Bears who have already shown us they are more than willing to wake up and ruin the party. So what happens next? Do the Bulls finally start climbing their way back toward All Time Highs, or are the Bears just letting them get comfortable before they pull the rug out again? The Jungle is getting wild, and I am ready for whatever comes next.