Bitcoin’s price has formed a Double Top between December and January—a classic chart pattern signaling a potential downside reversal. Additionally, a Bearish Divergence between the price and RSI suggests fading buying momentum. Let’s dive into the key levels to watch! 👇

🔑 Key Support Levels:

1. $92,000:

• A critical confluence of support from an uptrend line dating back to September 2024.

• Price dipped below this level but quickly reclaimed it. ⚡

2. $87,000:

• Near the bottom of a Pennant Pattern, this level could act as the next support.

• Breaking below this level might trigger a deeper drop. ⚠️

3. $74,000:

• A major support zone aligned with the March 2024 highs and October peaks.

• Long-term investors may consider this level for potential buy-the-dip opportunities. 💰

📈 Key Resistance to Watch:

• $106,000:

• A critical overhead resistance that aligns with the December and January peaks.

• A strong breakout above this level, supported by high trading volume, would invalidate the Double Top and restore the long-term bullish trend. 🚀✨

🧐 Takeaway:

• Bearish Case: Breaking below $87,000 could send Bitcoin toward $74,000.

• Bullish Case: A breakout above $106,000 signals a bullish recovery.

• Pro Tip: Monitor these levels closely and watch trading volume for confirmation. Stay ready for action! 💼📊

Keep an eye on the market and trade wisely! 🌌

#Crypto #Bitcoin #BTC #Ethereum #Altcoins #CryptoTrading #Binance #Bybit #FuturesTrading #CryptoNews