Hello traders! Here’s my technical outlook based on the current BTCUSDT (3H) chart structure. BTCUSDT previously declined inside a descending channel before rebounding from the long-term ascending demand line. Price later formed another descending channel, where buyers successfully defended the 63,400 Demand Zone and pushed the market higher.

Currently, BTCUSDT is trading below the 65,800 Supply Zone while holding above the 63,400 Demand Zone and the rising demand trendline. Price is now testing the upper boundary of the descending channel.

As long as BTCUSDT remains below the 65,800 Supply Zone and channel resistance, the bearish scenario remains valid. A rejection could send price back toward the 63,400 Demand Zone (TP1). However, a breakout above resistance would weaken the bearish outlook. Manage your risk!