Market Phase Identification: - Current Phase: Late-Stage Markup / Consolidation - Primary Drivers: Retest of major resistance levels, high derivative leverage, and local profit-taking. Risk Index Score: 7.5 / 10 (Elevated Volatility Risk) 16-Indicator Composite Highlights: - On-Chain Metrics: NUPL at 0.62 (Belief/Anxiety boundary), MVRV-Z Score at 3.1, Realized Price showing strong support base. - Technical Indicators: Daily RSI at 72 (Overbought consolidation), Weekly RSI showing macro bullish trend, price testing key moving averages. - Market Sentiment & Derivatives: Fear & Greed Index at 74 (Greed), high funding rates across major exchanges, high Open Interest. Scenario Planning Framework: - Support Retest Range: $70,000 – $72,000 (Key retest zone to clear excess leverage before structural continuation). - Resistance Target Range: $80,000 – $82,000 (Requires sustained spot volume for a definitive breakout). - Risk Management Note: High leverage exposure indicates a probability of short-term liquidity sweeps.