This.
The idea of us breaching 74k and THEN reversing (expanded flat) that has been proposed is technically VALID, however it opens up the doors for multiple other scenarios as well, including one in which we see a much larger, longer correction from these levels.
Whereas, if 74k is NOT breached, then it leaves us with only 1 possible scenario, which is incredibly bullish, and leaves little room for any alternatives.
This is why 74k is such a significant HTF level. Breaking it does not mean "it's over" by any means, but it does mean we have the first significant break in relevant HTF market structure since 15k, and this opens up multiple other scenarios, including some bearish ones (which I will go over if that time comes).
$BTC

The possibility exists, of course—but I've never been a fan of the HTF expanded flat scenario because it's not as simple as saying: 'Relax, we break HTF market structure, form an expanded flat, and then resume higher.' A HTF market structure break is serious—it significantly x.com/addressjack/st…

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[image.png] In Polymarket...

Is Hyperliquid entering the prediction market arena, aiming for the heart of the polymarket?

You’re right the trend has not broken.
But I’d argue the line to watch is $80.4k. That’s the clear last low.   The last line of hope.

Interesting, I view that as a local low that could be swept before a reversal- sort of a "fakeout" level with the main HTF level of interest being that HTF higher low at 74k. In any case- will be interesting to see how things play out from here.

Yeah it's true, the expanded flat opens up the possibility of the ending diagonal count followed by a zig zag correction, which by the way, given the size of wave 4 in this C, may mean we are actually already in Wave B in the zig zag. Targets are relatively similar, so not really a concern.
I don't really favour this current chop being the bottom, but am open to it if other factors line up in time... Which is a real possibility that shouldn't be discounted, especially considering the toppy look that we now have on Gold and silver.

I'm with Cred on this one, as that 74 level also traces back to the 2024 highs, and gives us a nice clean horizontal support area.