$BTC and Alts Thus far, price has largely played out as anticipated and in line with how I've positioned tactically. Nowadays, I use charts more as a compass to frame areas of interest. Execution itself comes down to reading flows, positioning and how participants respond at key inflection points. As for Bitcoin, keeping things relatively simple. The September 21 breakout origin around 81.7k fuelled by short liquidations saw price push into 87s. We've since rotated back into that area and tested it several times - (confluent with mondays lows) In a market showing genuine upside conviction, you'd generally expect buyers to defend that origin and establish acceptance higher. Repeated tests without meaningful upside displacement aren't particularly encouraging from a tactical perspective. Doesn't necessarily mean we break down, but it does raise questions about the underlying strength of demand.... For now, I'm positioned and hedged for potential downside continuation. Acceptance back above the 85s would have me reassess and begin rolling off the hedge. Equally, I'm interested in buying opportunities, but I'd want to see a shift in momentum, evidence of buyers stepping in with conviction and an ability to sustain higher prices.... Ultimately, no attachment to a directional bias. It's about recognising where the balance of control sits, how that changes and positioning accordingly. If looks like a range, trades like a range then it probably is a _ _ _ _ _ Cheers