Bitcoin - Is the next move towards 40k?BITCOIN/USD TETHER PERPETUAL SWAP CONTRACTBLOFIN:BTCUSDT.PYouriverseBitcoin is once again trading within a structured pattern, showing clear reactions to trendlines and key levels. The chart highlights repeating behavior, where price respects rising channels but ultimately fails to sustain higher highs, leading to deeper pullbacks. Rising Channel The first rising channel formed after Bitcoin found support around the 80k region. From there, price trended upward in a controlled manner, respecting the channel boundaries before eventually breaking down. That breakdown led to a strong move lower, showing that the structure was more corrective than impulsive. A second rising channel has now developed after the major drop toward 60k. Price is again moving upward within a similar structure, forming higher lows while gradually grinding higher. However, just like the previous channel, momentum appears limited and price is approaching resistance near the upper boundary. This raises the possibility that this structure could also resolve to the downside. Price Pattern Looking at the broader price action, Bitcoin initially found a low around 80k and rallied toward 98k. After failing to sustain that move, it sold off aggressively to around 60k. From that low, BTC has once again pushed higher, reaching the 79k region. This sequence creates a pattern of lower highs combined with sharp downside moves, suggesting distribution rather than accumulation. With liquidity building and resistance holding, the question becomes whether this is another setup for continuation lower. If the pattern repeats, a move toward significantly lower levels, potentially even the 40k region, cannot be ruled out. Final Thoughts Bitcoin is showing a repeating structure of rising channels that ultimately break down. The current move from 60k to 79k looks corrective within a larger bearish context. As long as price struggles to break and hold above resistance, the risk remains tilted to the downside. If this pattern continues to play out, a deeper move lower could be next.