$BTC Technical Analysis $BTC 1H

1. Double Top Pattern – Bearish Reversal Signal

On the 1H timeframe, BTC has formed a Double Top pattern around the $111,800 – $111,830 range. After failing to break through this resistance area twice, the price broke below the support level near $102,500, confirming the bearish reversal signal. The next target could be the $102,500 area or lower.

2. Short-term Resistance and Support

Near resistance: $104,500 – $105,000

Near support: $102,000 – $102,500

Deeper support: $98,000

The inability of the price to break through the resistance area of $104,500 – $105,000 may lead to increased selling pressure, especially if the price drops below the support area of $102,000 – $102,500.