agree with Magus on this - here are some thoughts behind why this range building behavior is a potential expectation after a meaningful breakdown (see image). here's my logic flow: > disagreement on price in upper balance > meaningful break out of balance > retracement into prior area with lack of value development think of it this way - you're offering a service but no one has offers this service so you don't have a point of reference in terms of what is a fair price to sell your service at & potential people buying are unsure on if they're paying the right price for the service you're offering. > what does that imply? participants want to figure out where fair value lies after a meaningful sell-off which could potentially mean probing the low side of the upper balance and high side of the lower balance created to determine value especially because there is no sense of this in the area that $BTC has currently traded into. this remains the case unless price accepts into a prior area of balance/an area where they were comfortable with doing business before.