BTC is currently oscillating within an upward channel, showing a clear structure after the earlier sharp decline and consolidation.

The price just touched the upper boundary of the channel and encountered selling pressure — this is a normal range-bound game from a technical perspective. As long as Bitcoin holds the lower boundary support of the channel, the situation of making higher highs but lower lows will not occur, which is quite crucial for the medium-term trend.

Once it breaks through the upper channel resistance level, the next step may face stronger resistance. The key now is whether the support can hold steady, which will directly determine whether a sustained upward breakout is possible.