The market remains extremely sensitive as every small pump is getting sold into as soon as we tag a local VAL on each HTF swing. This type of reaction is typical of a weak trend: if strength were present, price would at least be able to push toward the VAH or local highs. Psychologically, this is the kind of environment that creates a clean vulnus, a precise wound for participants. Watching a portfolio bleed slowly over time is often far more damaging than a single capitulative flush. This slow grind leads to exhaustion, discouragement, and eventually complete disengagement, which is something very important in the whole recipe. In terms of major levels taken out, we’re roughly 7/10 of the way through. Most significant HTF levels across majors have already been swept: ETH | ETH/BTC | ETH CME USDT D extreme range high | USDC D T1 + T2 + OTHERS + OTHERS/BTC MARA HTF demand BTC HTF demand What remains, the “3/10”, are the following: USDT D monthly imbalance ETH | ETH/BTC secondary sub-levels BTC 70s These remaining levels will likely get taken at some point (something worth preparing for), but at this stage the market has shifted into a game of optimization, not discovery, in my opinion.