💰#Bitcoin_Update
Bitcoin is currently experiencing a strong decline after a strong performance, as it tests the neckline of the inverted head and shoulders pattern on the daily timeframe.
🔹 Current Market Situation:
Bitcoin is retesting the neckline of the IHS pattern, which now represents a strong support area.
🔹 Key Levels:
Support Area: $113,000 - $115,000
Immediate Resistance: $120,000 - $122,500
Breakout Target: $165,000 or more in the next bullish wave.
🔹 Market Sentiment:
Staying above the neckline maintains the strength of the bullish trend.
If the support holds, we expect a continuation towards new highs once buying pressure returns.
A daily close below the $112,000 level would indicate caution and delay the next rise.
