Bitcoin Rejected Premium, Is the Quarterly Low Next?Bitcoin / U.S. dollarBITSTAMP:BTCUSDpropfirmwiseHigher Timeframe Context Bitcoin has completed a textbook Market Maker Sell Model after rallying into premium pricing. Key observations: - Price rejected from the 50% level of the Weekly FVG - Multiple SMT divergences formed with Ethereum at the highs - Weekly SIBI remains unfilled above current price - Bearish orderflow continues respecting premium arrays 👉 So far, buyers have failed to regain control after the rejection from premium. What Happened? The rally into the Weekly FVG looked impressive, but the market left several warning signs: - SMT formed with ETH during the final push higher - Price failed to continue higher despite reaching premium pricing - Repeated rejection from the Weekly FVG - CISD-style weakness started appearing after the highs This suggests smart money may have been distributing into strength rather than accumulating. Current Outlook Bitcoin is now trading below key bearish PD arrays while respecting inversion levels. As long as: - Weekly FVG remains respected - Price stays below recent swing highs - No bullish SMT forms at the lows I expect continuation toward lower liquidity pools. Main Target My draw on liquidity remains the Previous Quarter Low / Quarterly SSL. Why? - Clean low resistance liquidity path exists below current price - Quarterly liquidity remains untapped - Market has already rejected premium and is seeking discount 👉 In my view, the downside move is not complete until that liquidity has been addressed.