Bitcoin Rebound Looks Strong — But the Structure Says Otherwise

[johnblockbuster]

Bitcoin is trading around $77,500, up over 13% in the past month, suggesting a solid recovery from February’s sharp drop. However, the rebound is unfolding inside an ascending channel — a pattern that often signals a temporary bounce rather than a true trend reversal after a steep decline.

What raises concern is volume behavior. While price has been climbing, buying volume has been steadily decreasing, indicating weaker conviction behind the move. This kind of divergence typically points to a fading rally rather than sustained bullish momentum, leaving the door open for another downside move if resistance holds.

[chainsniff]

Bitcoin showing a recovery within an ascending channel suggests a corrective bounce rather than a confirmed macro trend reversal