$BTC is trading around the 75,972 area, and the picture has deteriorated since yesterday's update. Price has broken below the lower channel boundary that had been holding on every prior test, which was the key level highlighted as the line in the sand for the bullish structure. The break is still fresh and not yet confirmed on a closing basis, but the fact that price is now trading outside the channel for the first time since the structure began is a significant warning sign that cannot be ignored.
What was previously a healthy pullback within a clean ascending channel is now looking more like a genuine breakdown. If BTC fails to recover back inside the channel and close above the lower boundary around the 76,500 area, the next meaningful support sits at the 74,200–73,400 zone. A recovery back inside the channel on a strong closing candle would be needed to restore confidence and put the 78,000–79,000 highs back in focus.
BTCUSDT
Perp
76,921
+0.24%
ZKPUSDT
Perp
0.09399
+15.79%
BROCCOLI714USDT
Perp
0.0181
+11.93%
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