$BTC is currently trading at $61,569.57 and has returned to the descending channel, failing to reach the support level. The descending channel remains valid, and a breakout upwards would indicate a potential resumption of the uptrend towards the resistance range of $62,776 to $63,460. However, if the price fails to break out of the channel, it is likely to decline to the support range of $58,934 to $59,586