BTC/USD: Bearish Rejection at Supply Zone + Trendline ConfluenceBitcoin / U.S. dollarBITSTAMP:BTCUSDfx_martin9Bitcoin (BTC/USD) 1H Analysis — Bearish Continuation Setup Overview: Bitcoin continues to trade within a well-defined bearish channel on the 1-hour timeframe following a Change of Character (CHOCH) and a clear Market Structure Shift (MSS) higher up. Key Technical Factors: Descending Trendline Confluence: Price has consistently respected the descending trendline resistance, driving the price lower. Supply Zone Rejection: The green highlight ($63,300–$63,600) represents a key supply zone that aligns directly with the descending trendline resistance. Liquidity Grab & BOS: Following the sweep of the Equal Lows (EQL) and a clear Break of Structure (BOS), market structure remains firmly in favor of the bears. Trade Execution Plan: Bias: Short / Bearish 📉 Sell Zone (Supply Area): ~$63,300 – $63,550 Take Profit Target: ~$62,750 (Recent liquidity lows) Stop Loss: Above the top of the Supply Zone / Trendline (~$63,700–$63,800)