$BTC
On the 1-hour chart, Bitcoin
BTCUSD
price recently broke out of a well-defined descending channel that capped price action after rejection near $69,800. That falling channel had produced a sequence of lower highs, compressing price toward the $66,800–$67,000 support zone. The breakout above the channel’s upper boundary suggests short-term downside momentum has been neutralized. Technically, this matters because descending channels often represent corrective pauses within broader uptrends. A breakout from such formations frequently signals the beginning of a renewed impulse leg, provided higher timeframe resistance is cleared.
