Everyone is calling Bitcoin's bounce bullish. I'm not buying it. 🧵 Here's what the chart actually shows: ATH: ~$126,000 — October 2025 Today: $77,549 That's -38% from the top. And the structure? 📌 Price still trading BELOW all major MAs 📌 EMA stack bearish — blue MA pointing down hard 📌 Bouncing inside a descending channel 📌 $80,000 — key resistance overhead 📌 $60,192 — support level clearly marked on chart This is a lower high attempt in a downtrend. Not a reversal. Not a breakout. ━━━━━━━━━━━━ The crowd sees: "broke above $73,400 = bullish" I see: price struggling at $77,500 still below every moving average ━━━━━━━━━━━━ Key levels I'm watching: 🔴 $80,000 — must break and hold (hasn't) 🔴 $64,000 — next support if rejection here 🔴 $60,192 — major floor, last line of defense What changes my mind: Weekly close above $80,000 with volume. Until then — distribution, not accumulation. Disagree? Show me the weekly close. 👇 Follow @trader_nomad 🔔 #Bitcoin #BTC #BTCUSD #Crypto #ElliottWave #TechnicalAnalysis #BearMarket