BTC/USD Bearish Rejection at Channel Resistance | 64.2K Supply ZBitcoin all time history indexINDEX:BTCUSDGold_Market_MindBTC/USD 15-Minute Technical Analysis (Educational) Market Bias: Bearish 📉 The chart shows BTC/USD trading inside an ascending channel after a strong recovery from the breakout area. Price is now testing the upper boundary where sellers have previously stepped in. The rejection from this resistance suggests weakening bullish momentum and increases the probability of a downside correction. Key Technical Observations Ascending Channel: Price has respected the rising channel throughout the recovery. Breakout & Retest: The breakout zone around 62,500-62,700 acted as the launch point for the rally. Resistance Zone: 64,230-64,400 is a strong supply area where multiple rejections are visible. Support Turned Resistance: The marked support near 64,231 is now critical. A sustained break below it would strengthen the bearish case. Momentum: Higher highs are becoming less aggressive, indicating buyer exhaustion near channel resistance. Trade Setup (Short Idea) Entry: Around 64,200-64,300 after bearish confirmation. Stop Loss: 64,990 (above recent swing high and channel resistance). Target 1: 63,500 Target 2: 62,800 Target 3: 62,016 (major support and measured move target shown on the chart). Invalidation If BTC closes strongly above 64,990, the bearish setup becomes invalid, opening the door for continuation toward higher resistance levels. Conclusion As long as price remains below 64,400-64,990, the short-term outlook favors a pullback toward 63,500 and potentially 62,016. Wait for bearish candlestick confirmation before entering rather than selling into support.