Bitcoin Breaking Below Rising Channel, Testing Key SupportBitcoin / U.S. DollarFOREXCOM:BTCUSDFOREXcomBTCUSD on the daily chart has lost some short-term momentum after slipping beneath the previously respected rising structure. Rather than continuing cleanly within an ascending channel, price is now testing whether that former support zone will turn into resistance, while the horizontal area around 76,000 remains the main level keeping the recent recovery intact. The moving averages still show an improving but incomplete recovery. Price remains above the 50-day SMA, which is sitting near the mid-71,000 area and may still act as dynamic support on deeper pullbacks. At the same time, Bitcoin remains below the 200-day SMA near 84,500, which keeps the broader structure from turning fully bullish despite the rebound from the February low. The 100,000 level continues to stand out as the major longer-term resistance on the chart. Momentum has started to flatten. MACD is still in positive territory, but the lines are converging, which suggests upside momentum is no longer expanding. RSI is near 55, indicating neutral-to-moderately bullish conditions, though not enough on its own to confirm a strong continuation phase. Overall, the chart now looks more like a breakout failure or at least a loss of short-term trend strength rather than a clean bullish channel continuation. As long as BTC holds the 76,000 support region and the 50-day SMA, the broader recovery remains alive, but the break below rising structure suggests caution is warranted in the near term. -MW