Bitcoin (BTC) Update| Trading Range Low Target

Bitcoin has rejected from the local channel high, where the VWAP and the 0.618 Fibonacci retracement created strong confluence. The rejection was confirmed by a clear engulfing candle, sending price back toward the base of the previous consolidation zone.

A series of candle closes around this area may occur before a decisive move forms. For now, BTC remains structurally contained within its broader trading channel, signalling slow and corrective behaviour unless a breakout develops.

Key Points
- Rejection at channel high with VWAP + 0.618 Fib confluence
- Engulfing candle signals weakening momentum
- Price revisits prior consolidation base

What to Expect
If BTC holds this consolidation base, a short-term bounce is possible. A breakdown, however, would reopen lower support retests within the trading channel.