BTC/USD: Channel Breakdown & Retest | Targeting SSL Target ?Bitcoin / U.S. dollarBITSTAMP:BTCUSDfx_martin9Trade Setup: Bearish Rejection at Supply Zone (SMC Setup) Bitcoin (BTC/USD) on the 1H timeframe is showing clear signs of potential bearish continuation after a breakdown from an ascending channel structure. Key Technical Observations: Buy-Side Liquidity (BSL) Swept: The recent rally to the $65,000 mark successfully cleared buy-side liquidity, creating a local top. Ascending Channel Breakdown: Price action broke out of the rising channel structure, signaling loss of bullish momentum. Supply Zone Retest: BTC is currently pulling back to retest the newly formed Supply Zone ($64,600 - $64,750). Market Structure Alignment: Prior price action established key levels via previous Liquidity Sweeps, CHOCH, and MSS, setting up this distribution phase. Trade Execution Plan: Bias: Bearish / Short Entry Zone: $64,500 – $64,750 (Inside the Supply Zone) Target (TP): $63,750 (Sell-Side Liquidity / Support Level) Stop Loss (SL): Above the BSL / Local High (~$65,100+)