BTC has finally tested the 91k resistance level on CME after a full month of consolidation, only to face rejection once more. The range highs got swept through, but there's nothing on the macro picture that signals a bullish continuation at this point.

Given the setup, I've increased my short positions significantly. The realistic downside target sits in the 83.5k–84k zone, though frankly I wouldn't be shocked if even that level gets cracked on the way down. The bias remains firmly bearish.

One key invalidation rule: if BTC manages to reclaim and hold above a certain threshold convincingly, the entire thesis flips. Until then though, lower lows feel more probable than another push toward all-time territory.