Not decided — which is exactly why it's interesting. 71,581 is the hinge, 60,000 is the verdict.
BTC trades at 73,248, down 2.47% today, back on the 50% retracement of the entire 2022–2025 advance (71,581). After the high at 126,516, price has carved a descending channel and what increasingly looks like a five-wave decline. Today's candle was rejected at 75,628 and closed on the line that matters.
^BTCUSD weekly with a 180-period linear regression channel and fib retracements of the 2022–2025 advance — 38.2% at 84,545, 50% at 71,581 (where price sits), 61.8% at 58,617. Price rejected at 75,628 and closed at 73,248 (−2.47%) inside a descending channel, with a five-wave-down count pointing at the 60k wave-3 low. Source: Barchart, 28 May 2026.
The sequence that tells the story
The recent path is the tell: support around 60k held — the wave-3 low — the bounce that followed ran out of road just under 80k, and price turned at the underside of the descending channel. That failure under 80k is the part that matters. It is the level a genuine recovery had to reclaim; instead it was sold.
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