The Elephant Jungle 6/23/26 Page 2BTCUSDT Perpetual ContractBYBIT:BTCUSDT.PRedElephant420 So, if the Bears are struggling to push past the Macro Range Low, what is holding them back? It looks like our little Anchored VWAP Zone is doing its job, and more specifically, the Anchored VWAP pulled from the 2022 Low. The Bulls are leaning on that VWAP for support like a drunk dude leaving the club at 2 AM, hanging onto a streetlight with both hands, saying, “Nah, I’m good. I’m good.” Meanwhile, everyone watching knows the second he lets go, it is game over. Luckily for the Bulls, they have another line of defense. Just below sits a second Anchored VWAP pulled from the 2020 Low, and it lines up perfectly with the Golden Pocket. That creates a pretty solid support zone if price decides to head lower. But is that a risk the Bulls are willing to take? Maybe. Maybe the smarter play is to let the 1M candle Swing Fail the Macro Range Low first. That would give the Bulls another full month to work with, allowing price to reach the Golden Pocket, build a stronger foundation, and then make a run back toward the Local 1M High. If they can pull that off, the conversation changes. Instead of talking about how much lower Bitcoin can go, we could be talking about the beginning of a completely different market structure. Sometimes the strongest move starts with letting price fall into the strongest support.