The bearish pattern for Bitcoin assumes that the price could still rise to around $29,000 before falling further.

Key technical events:

1. Possible overextended beyond the bullish support band (yellow circle), but failed to retest the bullish support band as post-breakout support and the pattern would remain intact

2. Re-examine the lower high resistance level, there is upward accumulation above, but it will eventually be rejected, and the pattern remains intact.

Bitcoin Bearish Pattern Invalid Criteria

a. The bull market support band serves as support

b. The weekly closing price exceeds the lower high resistance level

c. Breaking through the annual high of $31,000

What do you think? $BTC