The compression of momentum indicating a shift in the intermediate trend suggests that $BTC has entered a bearish momentum phase, which historically has signaled the onset of an intermediate bearish trend. The last time bearish momentum began, BTC was at its low point at the end of March, followed by several days of consolidation before rising... Will this time be the same?! 😃 From other data perspectives, current short positions in BTC and ETH are beginning to correct, and the positioning fundamentals are gradually turning favorable for bulls. However, a significant number of traders remain actively betting on bullish moves, which may limit the sustainability of any price rebound.