BTC/USD: Bearish Continuation — Eyeing Sell-Side Liquidity BelowBitcoin / U.S. dollarBITSTAMP:BTCUSDfx_martin9Overview Bitcoin (BTCUSD) on the 1-Hour timeframe is displaying clear signs of bearish market structure shift (MSS) following a breakdown from its local high and top downward channel. Price recently experienced a Change of Character (CHOCH) to the downside around $64,600 and is currently consolidating beneath a newly formed supply zone (teal box). A rejection from this immediate supply zone points toward a high-probability short opportunity targeting the Sell-Side Liquidity (SSL) rested below $63,600. Key Technical Factors & SMC Elements Market Structure: Downward Channel Breakdown: BTC completed a downward channel corrective phase, which broke down aggressively into a broader trend reversal. MSS & CHOCH: A clear Market Structure Shift (MSS) was followed by a bearish CHOCH (Change of Character) at ~$64,600, confirming that sellers are firmly in control. Supply Zone / Resistance: The teal zone (~$64,050 – $64,200) acts as local bearish supply/order block where price is currently finding resistance. Liquidity Targets: SSL (Sell-Side Liquidity): Located around $63,600, marked by recent swing lows (main target). BSL (Buy-Side Liquidity): Resting higher at ~$65,750, acting as the macro invalidation level for medium-term shorts. Trading Scenarios 📉 Primary Scenario: Bearish Continuation (Short Entry) Entry: Rejection / Bearish price action inside the supply zone ($64,000 – $64,200). Stop Loss (SL): Above the local consolidation high / supply box boundary (~$64,350 – $64,450). Take Profit 1 (TP1): $63,600 (Sweep of SSL). Take Profit 2 (TP2): $63,200 (Psychological / Key extended support).