Hey crypto crew 👋 Let’s zoom in on the current BTC action—there’s a bearish Shark harmonic pattern showing up, and it might mean we’re nearing a key turning point. Here's what I'm seeing 🧠:
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🔍 1. What’s the Deal With the Bearish Shark?
This is a 5-point harmonic pattern (O-X-A-B-C/D) that relies on specific Fibonacci levels to help predict potential reversals.
In plain English: when this pattern pops up, it could mean BTC is overheated and due for a pullback. Traders love this setup because it’s often where momentum shifts.
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📈 2. Current BTC Chart Setup
Right now, BTC is brushing up against a major resistance zone—roughly between $96,400 and $111K—right where that Shark pattern completes.
If price gets rejected here, we could see a dip back to $100K, maybe even $60K depending on how heavy the drop is.
However, if BTC smashes through this level with solid volume, the bearish setup gets wrecked—and we might see a push past $110K+.
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⚠️ 3. Why This Moment Matters
BTC recently dropped back into a descending channel after a failed breakout—a textbook bull trap.
What’s more, the potential reversal zone (PRZ) lines up perfectly with the 0.618 Fib level and heavy resistance clusters around $96K–$110K.
This isn’t just a chart theory thing—plenty of traders are eyeing the same zones. Expect high volatility and fast plays around these levels.
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📊 4. Key Scenarios to Watch
Scenario Zone Outcome
✅ Breakout Above Resistance ~$96K–111K Bearish Shark fails → Possible move to new highs
⚠️ Rejection at PRZ ~$96K–110K Pullback to $100K or even $60K
📉 Macro-Driven Drop Fed/CPI hits hard Deeper pullback in play
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🧠 5. Trade Plan Ideas
🔹 Entries:
Go long on a confirmed breakout with volume above PRZ
Consider short or hedged positions if price starts rolling over near resistance
🛡️ Risk Control:
Use tight stops just below recent swing levels
Target zones: $100K–$110K if shallow, or $60K if deeper retrace happens
📋 Watch For:
Volume spikes near resistance
Global data (CPI, Fed news, etc.)
Chart formations like descending channels or H&S patterns
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🚨 TL;DR Summary
BTC may be finishing a bearish Shark pattern near a tough resistance band (~$96K–$110K)
Rejection here could spark a sizeable pullback—possibly toward $60K
Breakout with strong volume? Bearish setup invalidated—bullish momentum resumes
Stay sharp: manage risk, have a plan, and don’t chase candles
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💬 What’s your game plan here? Riding the breakout or prepping for the dip? Let’s compare notes in the comments 👇👇
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