Bitcoin has reached the upper boundary of a rising channel while simultaneously reacting from a significant resistance zone near 79,300 - 79,400.
The recent rejection suggests buying momentum may be slowing after an extended move higher. Price is now testing whether the channel breakout attempt can be sustained or if a corrective move toward lower support levels will develop.
The green levels highlighted on the chart represent potential downside objectives if sellers maintain control and the channel structure starts to weaken.
🎯 Bearish Targets
✅ Target 1: 78,405.81
✅ Target 2: 78,154.18
✅ Target 3: 77,812.23
📊 Market Structure
🔹 Strong rejection from channel resistance
🔹 Price reacting from major supply zone
🔹 Extended bullish move showing signs of exhaustion
🔹 Potential liquidity sweep above resistance before pullback
⚠️ A sustained move and acceptance above 79,400 would weaken this bearish outlook and could lead to further upside continuation.
This analysis represents a possible market scenario based on current price action and technical structure. Always manage risk according to your trading plan.
