$BTC is breaking down after rejecting at the top of this descending channel. There is a chance of a breakdown move to the mid range of the channel at $57.8k, which should hold as support.

On loosing $57.8k watch for a deeper retrace to lower side of the channel below $57k where we can find support.

A break to the lower side of the channel will be bearish having $55k as the next targets.