dr_mt
--
Bearish
$BTC SIGNAL ALERT 🔴✨️✨️✨️
Potential HEAD & SHOULDERS forming on the 1W chart!
$BTC is setting up for a textbook Head & Shoulders pattern, but it hasn’t completed just yet. If this structure finalizes in the coming weeks, it could signal a major trend reversal on the higher timeframe.
Here’s the setup so far:
Left Shoulder: Formed around $73K
Head: Spiked to $110K
Potential Right Shoulder: Currently building resistance near $105K
If $BTC fails to break higher and rolls over from here, completing the right shoulder, we’ll be eyeing a neckline break around $98K.
What would it mean?
A confirmed breakdown could trigger a move toward $68K — a 33.5% drop from the Head’s peak. It would also reflect a shift in weekly market structure from bullish to bearish.
Volume Insight: Notice the lower volume on this recent push? Classic behavior during right shoulder formations.
RSI: 64.48 — still elevated, but starting to flatten, hinting at momentum weakness.
No confirmed pattern yet — but traders should watch the weekly close and price action around $105K. A rejection here could start shaping that crucial right shoulder.
This is a high-stakes setup in the making — don’t blink.
Follow me
DYOR
dr_mt
Potential HEAD & SHOULDERS forming on the 1W chart!
$BTC is setting up for a textbook Head & Shoulders pattern, but it hasn’t completed just yet. If this structure finalizes in the coming weeks, it could signal a major trend reversal on the higher timeframe.
Here’s the setup so far:
Left Shoulder: Formed around $73K
Head: Spiked to $110K
Potential Right Shoulder: Currently building resistance near $105K
If $BTC fails to break higher and rolls over from here, completing the right shoulder, we’ll be eyeing a neckline break around $98K.
What would it mean?
A confirmed breakdown could trigger a move toward $68K — a 33.5% drop from the Head’s peak. It would also reflect a shift in weekly market structure from bullish to bearish.
Volume Insight: Notice the lower volume on this recent push? Classic behavior during right shoulder formations.
RSI: 64.48 — still elevated, but starting to flatten, hinting at momentum weakness.
No confirmed pattern yet — but traders should watch the weekly close and price action around $105K. A rejection here could start shaping that crucial right shoulder.
This is a high-stakes setup in the making — don’t blink.
Follow me
DYOR
dr_mt
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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