BTC TRADE TRACKBitcoin / U.S. dollarBITSTAMP:BTCUSDReal_HFXBitcoin remains in a bearish structure after breaking below the ascending channel that had guided price action higher since February. Following the breakdown, BTC experienced a sharp decline toward the $60,000 area, where buyers temporarily stepped in and triggered a corrective rebound. However, the recovery has lacked strong momentum so far, suggesting that the recent advance is more likely a corrective move rather than the beginning of a new bullish trend. The corrective rally is expected to continue toward the key resistance zone, where the broken channel support and previous swing lows converge. This area is likely to act as a major resistance and serve as a potential pullback test of the breakdown. We expect price to face rejection from this zone, which would reinforce the bearish outlook and increase the probability of a new downward leg. In that scenario, the next major downside target comes in around $54,000, which coincides with the 70.7% Fibonacci retracement level As long as Bitcoin remains below the resistance zone, the broader market structure remains bearish, and any short-term strength is viewed as a pullback within the prevailing downtrend rather than a trend reversal.