BTCUSD | Bear Flag Within Channel – $60K as First Test ZoneBitcoin / US DollarCOINBASE:BTCUSDAlchemyMarketsBitcoin remains sensitive to broader liquidity conditions, with risk assets struggling to regain momentum as rate expectations stay restrictive. That backdrop keeps rallies vulnerable to selling pressure. Technical Lens: Price action shows a clear impulsive move lower followed by a rising channel, forming a classic bear flag structure. The current grind higher sits within that channel, suggesting this is corrective rather than a shift in trend. The prior breakdown area continues to act as overhead pressure. Scenarios: * If the channel continues to hold → price may complete the flag structure and roll over, with the base of the channel aligning as the first downside objective around $60,000. * If price breaks and sustains above the channel → this would weaken the bearish structure and open the door for a deeper retracement into prior supply. Catalysts: US yields, dollar strength, and broader risk sentiment remain key drivers. Any shifts in Fed expectations or liquidity conditions could accelerate either scenario. Takeaway: The rising channel looks corrective for now — the lower boundary near $60,000 is the key level to watch as the first downside test.