Bitcoin ($BTC) is currently trading within a well-defined descending channel, reflecting continuous bearish momentum in the short term. As the downtrend structure remains intact, price appears to be gravitating toward a major support zone around $76,000–$77,000, where buyers have previously shown strong interest.
A true bullish reversal can only begin once BTC manages to break above the upper boundary of this channel, signaling a shift in market sentiment. Until that breakout happens, sellers remain in control.
If Bitcoin fails to hold the $76,000 support region, the door opens for a deeper correction, with potential downside targets stretching toward the $70,000 zone. This area would act as a critical level for long-term trend preservation.
For now, BTC traders should monitor the channel boundaries and keep an eye on the reaction at major support levels.$BTC
