BTCUSD (1D)
The price is still above the neckline of the inverted head and shoulders model
and the area of 112,300–112,100 is considered support, a daily demand zone + the price has retested the (Inverted head and shoulders) model
Any organized rebound from here keeps the scenario of resuming the upward trend alive.
For me currently: As long as the daily close is above 112k, the positive picture continues, and even if there is a liquidity pull below it with short wicks and then a return above it, this is considered accumulation, not a break. A clean retest of the area 112,300–112,100 with a reversal/engulfing candle on the daily = opportunity to resume the trend.
Breaking and stabilizing above 118k–120k restores momentum and opens gradual targets:
124,165
129,386
134,225
Extension of the wave movement towards 144,413 then 153,716 if momentum continues to increase during the fourth quarter.
Scenario failure: A clear daily close below 108k (a clear break of the neckline and the gray area) brings us back to a wider range and delays upper targets but expands them in the future.
In summary: The overall trend is still upward as long as we are above the model, and the area of 112k represents the current ground for movement. I treat the current decline as a correction for repositioning, not a trend change.
(⚠️Not investment advice)