BTCUSD is showing signs of weakness after being rejected from a key resistance zone aligned with the descending trendline. Price is now compressing near the lower boundary of the rising wedge, increasing the likelihood of a bearish breakdown.

I expect a decisive break below the wedge, followed by a possible retest of the broken level as new resistance. If the retest fails and sellers remain in control, BTCUSD could decline toward 63,800, the nearest logical support target within the current structure.

The bearish setup still requires confirmation. A sustained move above the major resistance zone would weaken the breakdown scenario and suggest that buyers are regaining control.

No breakdown, no trade. Trade safely!