$BTC has now tested the major 58K demand region three times over the past 24 hours. Despite the aggressive selling pressure, sellers were unable to extend the decline. Instead, buyers stepped in once again and successfully defended the area, producing another higher low and preventing a new structural low from forming. That is an important development from a market structure perspective. The latest 4H candle has now closed back above the major 60K support region. A successful reclaim of 61K would place BTC back inside the prior range and increase the probability of a move toward the midpoint around 62.5K. Failure to maintain acceptance above 60K would increase the probability of yet another retest of the 58K demand region. Bulls still need to prove they can reclaim the prior range before the broader picture shifts back in their favour.