Bitcoin (BTC) Rejected at Channel HighBitcoinCRYPTO:BTCUSDThe_Alchemist_Trader_Bitcoin has faced a clear rejection from the upper boundary of its rising channel, with price now closing multiple bearish daily candles below the key $78K resistance zone. This level was critical for bullish continuation, but failure to reclaim it signals weakening momentum and a shift in short-term structure. - $78K Resistance Rejection 🚫 — Strong supply zone with failed breakout attempt - Bearish Daily Closes 📉 — Confirms loss of bullish control at highs - $69K Channel Support 🎯 — Next major downside target if weakness continues From a technical standpoint, the rejection at channel highs suggests a classic deviation above resistance followed by acceptance back below — often a precursor to deeper corrective moves. The inability for bulls to sustain price above $78K highlights a lack of demand at higher levels, reinforcing this zone as a strong resistance barrier. Market structure is beginning to shift as lower highs form on the daily timeframe, indicating that momentum is fading. If this bearish pressure persists, price is likely to rotate toward the lower boundary of the channel, with $69K acting as the next key support region. This level aligns with previous demand and could serve as a potential reaction zone. Overall, unless Bitcoin can reclaim $78K with strong volume, the path of least resistance appears to be to the downside, opening the probability for a deeper correction from current levels.