BTCUSD Smart Money Analysis – Distribution Phase ContinuesBitcoin / U.S. dollarBITSTAMP:BTCUSDXau_InsightssBitcoin has displayed a textbook bearish market structure with a clear Change of Character followed by consecutive Breaks of Structure. The recent retracement into the POI appears to have served as a distribution phase before another leg lower. SMC Outlook: * Bearish CHOCH confirmed. * POI successfully respected. * Lower highs and lower lows intact. * Sell-side liquidity remains the primary target. A continuation below recent lows could accelerate selling pressure toward major liquidity pools around 52k and 44.5k. Not Financial Advice