Trade Setup: Bearish Rejection at Supply Zone (SMC Setup)

Bitcoin (BTC/USD) on the 1H timeframe is showing clear signs of potential bearish continuation after a breakdown from an ascending channel structure.
Key Technical Observations:
Buy-Side Liquidity (BSL) Swept: The recent rally to the $65,000 mark successfully cleared buy-side liquidity, creating a local top.

Ascending Channel Breakdown: Price action broke out of the rising channel structure, signaling loss of bullish momentum.

Supply Zone Retest: BTC is currently pulling back to retest the newly formed Supply Zone ($64,600 - $64,750).

Market Structure Alignment: Prior price action established key levels via previous Liquidity Sweeps, CHOCH, and MSS, setting up this distribution phase.
Trade Execution Plan:
Bias: Bearish / Short

Entry Zone: $64,500 – $64,750 (Inside the Supply Zone)

Target (TP): $63,750 (Sell-Side Liquidity / Support Level)

Stop Loss (SL): Above the BSL / Local High (~$65,100+)