⚠️ Alert for Traders: $BTC is facing a critical technical pattern! 📉
Close monitoring of price movement 👀
After its recent rise, the price of BTC is showing a technical pattern that raises concerns among traders. The chart displays a "head and shoulders" formation, a pattern known to indicate a potential reversal of the upward trend.
Key levels to watch: 🧐
* Critical support level (neckline): located around $112,500. Staying above this level is essential for maintaining hope for an upward movement.
* Bearish scenario: If this level is broken with high trading volume, the bearish pattern may be confirmed, potentially leading to further declines.
* Bullish scenario: If the price strongly rebounds from this level and surpasses previous peaks, the bearish pattern may fail.
Advice for traders: 💡
Extreme caution is advised, and avoid making hasty decisions. Monitor for high trading volume to break the support level or a strong rebound from it to confirm the upcoming trend.
