$BTC just broke the rising channel it built all night and the timing couldn't be worse.

Bitcoin grinded up in a clean channel on the 15M, looked like it was stabilizing, then got hit with a sharp rejection right at the top. this isn't a random wick the channel is broken and sellers are already back in control.

the bigger picture hasn't changed at all. we're still in a downtrend and this bounce just got confirmed as a trap. the path of least resistance is still lower and this breakdown on the 15M is just the beginning of the next leg down.

BTCUSDT

Perp

66,556.8

-0.52%