Bitcoin's recent price movements have been characterized by a well-defined corrective mode, with the cryptocurrency responding sharply to previous breakdowns on the 4-hour chart. However, this trend has not yet reversed, and sellers remain in control beneath moving averages.
The BTC price structure appears to be biased towards a bearish direction, with lower highs and lower lows from the May highs where Bitcoin was trading at $73,000-$75,000. This signals a breakout in terms of structure.