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bitcoin:native Update:
Trendline support is broken. Price got rejected from the IOB zone around $80K and has now lost the ascending trendline that held since the April lows.
Short-term bias is bearish. The projected move points toward $71,500 to $72,000 as the next area of interest before any meaningful recovery attempt.
Key levels to watch. Resistance is sitting at $80.5K and the major supply zone between $83K and $84.5K. On the downside, $76K needs to hold, otherwise the drop toward $71.5K becomes the more likely scenario.
Invalidation above $80.5K. Until then, the structure favors the sellers.