BTC Analysis – Trading in No Man’s Land as Channel Support LoomsHello Traders,
Today’s intraday Bitcoin analysis focuses on the 4-hour timeframe, where price action has continued to unfold within a clearly defined descending channel. After rejecting off the channel high resistance, BTC is now drifting downward toward key support — but hasn’t quite reached it yet. Current movement suggests indecision, with price hovering around the range midpoint.
Key Technical Points:
• Price is trading within a descending channel, currently stuck around the range mid, showing uncertainty and lack of momentum.
• Channel low support sits around $65,500, which bulls must defend to avoid further downside and trigger a potential rotation back to the highs.
Conclusion:
Market structure remains bearish, with consecutive lower highs indicating ongoing weakness. A break of the channel to the upside would require a clear shift in structure — something not yet visible. Until then, lower lows remain a likely scenario. Traders should exercise caution in this zone, as price remains vulnerable to further downside in the short term.
