$BTC Bitcoin has experienced a corrective movement with a drop of about 8% since it reached a record level exceeding $124,500 four days ago. Now it faces risks of further decline due to a classic bearish reversal pattern.

The drop of Bitcoin below $100,000 is still possible.

Bitcoin confirmed a bearish breakout from a rising wedge pattern on the daily chart, according to analyst Captain Faibik.

Traditional analysts consider rising wedges to be bearish reversal patterns that often precede sharp declines after a sustained upward trend.

In the case of Bitcoin, this wedge has been forming since April, with progressively higher highs and lows towards the peak.

The breakout below the support line indicates a test of previous resistance levels that have turned into support, reflecting weakness in momentum and increasing selling pressure #ETHStakingExitWatch #BinanceHODLerPLUME