$BTC : There's a visible harmonic pattern that looks like a potential Butterfly pattern.
Resistance Levels:
The immediate resistance is around the current price level of $94,000.
Stronger resistance is likely around the neckline of the potential double bottom ($106,000 - $107,000).
The high of the recent swing around $110,000 also acts as a significant resistance level.
Support Levels:
Immediate support is likely around the recent low of $87,998.9.
Stronger support is around the $80,000 level, which forms the lows of the potential double bottom.
There might be intermediate support around the $91,784 level.
Potential Scenarios:
Bullish Scenario: If the price breaks and holds above the neckline of the potential double bottom ($106,000 - $107,000) with strong volume, it could signal a significant bullish move. The target for this move could be estimated by the height of the double bottom added to the neckline.
Bearish Scenario: If the price fails to break above the neckline and instead breaks below the support around $87,998.9, it could invalidate the double bottom and lead to further downside. A break below the $80,000 level would be particularly bearish.
Harmonic Pattern Implications: If the price has indeed completed the Butterfly pattern around the $102,400 level, we might see some consolidation or even a potential reversal from that point. However, the pattern needs confirmation with price
