#btc
BTC UPDATE
1. Head and Shoulders Pattern:
The left shoulder, head, and right shoulder are labeled.
The neckline is shown as a horizontal support level around 91,609.5 USDT.
2. Potential Breakdown:
If the price breaks below the neckline, it could confirm a bearish breakdown.
The target zone after a breakdown aligns with the Fibonacci retracement and previous demand zones: 81,655.3, 80,397.7, and 77,114.1 USDT.
Strategy Suggestions:
Bearish Scenario:
Short positions could be initiated upon a confirmed break below 91,609.5 targeting 81,655.3 or lower.
Place a stop-loss above the right shoulder (~95,000 USDT) to manage risk.
Bullish Scenario:
If BTC holds above the neckline and shows strength, a reversal could invalidate the pattern. Consider long positions above 95,000 with tight risk management.