Bitcoin Rejection Incoming?Bitcoin / TetherUSBINANCE:BTCUSDTHexaTradesBitcoin is currently trading within a well-defined ascending channel on the 12H timeframe, showing a steady recovery structure since the February lows. Price has now pushed into a critical confluence zone that could determine the next major move. Key Points: - Price is testing the 0.5 Fibonacci retracement (~79.1K), aligning closely with the upper boundary of the rising channel. - A potential lower high / distribution structure is forming at resistance (highlighted zone), suggesting weakening bullish momentum. - The broader structure resembles a rising wedge, which is typically a bearish continuation pattern—especially following a strong prior downtrend. - Volume profile on the right shows a low-volume node below current price, indicating a potential fast move if price breaks down. - Rejection from the 0.5 Fib + channel resistance could trigger a move toward the 70K–72K range (value area support). - A breakdown of the channel would likely accelerate selling into lower liquidity zones. Cheers Hexa