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Bitcoin on the 1-day frame
The market is in a phase of fluctuation after a strong upward wave
There is a head and shoulders pattern forming, but it has not been broken yet
Breaking below 97,550 confirms the pattern and opens the door for a wider drop
Rising above 105,600 - 106,000 invalidates the pattern and restores upward momentum
If the neckline is broken with a clear close below 100,350, there will be confirmation of the head and shoulders pattern, which may indicate the beginning of a stronger downward correction
