$BTC

🧨

We currently observe the formation of the Head and Shoulders pattern on the chart, which is one of the strongest reversal patterns indicating the likelihood of a strong downturn ahead.

📉 The price has broken the neckline at approximately $103,000, and if it remains below this line, we could see a swift downward movement towards the next support level at $96,654.

⚠️ However, it's important to clarify: the pattern will be completely invalidated if Bitcoin closes above $105,000 in the next two days, at which point the breakout will be false and the overall trend could return to bullish.

✍️ This type of pattern is important for every trader as it aids in making entry or exit decisions before significant movements.

My personal opinion:

The pattern is clear but needs confirmation with the daily close. Personally, I do not consider it a selling opportunity unless it closes below the neckline with strong trading volume.