#TrumpVsMusk Hello Binance Square family! 👋

Bitcoin (BTC) is currently exhibiting a classic Head & Shoulders pattern, a bearish reversal indicator that suggests a potential shift from the recent uptrend. This pattern, characterized by three peaks—the left shoulder, a higher head, and a right shoulder—signals that bullish momentum may be waning.

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📊 Current Market Snapshot

Current Price: ~$103,484

24h High / Low: $105,888 / $100,781

Key Resistance: $105,000 – $107,000

Key Support: $100,000

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🔍 Technical Analysis: Head & Shoulders Formation

The Head & Shoulders pattern on BTC's chart is forming as follows:

Left Shoulder: A peak formed with increased volume.

Head: A higher peak, indicating strong bullish momentum.

Right Shoulder: A lower peak, suggesting weakening momentum.

The neckline, a support level connecting the lows between the shoulders, is crucial. A break below this line could confirm the bearish reversal, potentially leading to further declines.

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📈 Trade Setup: Potential Short Opportunity

Entry Point: Consider entering a short position if BTC breaks below the neckline support.

Stop Loss: Place a stop loss above the right shoulder to manage risk.

Take Profit Targets:

TP1: $98,000

TP2: $93,000

TP3: $90,000

*Note: This setup is based on current technical patterns. Always conduct your own research and consider risk management strategies. *