I am sharing the analysis I shared for bitcoin this week again, read it more carefully this time because I mentioned that there was a higher probability of a decline.

M Formation Analysis - Weekly BTC/USDT Chart

The M formation (Double Top) formation is observed on BTC's weekly chart. This formation gives a bearish signal and usually results in sharp declines after the breakout.

Peak: 109,588 USDT

Peak: 98,119 USDT

Neckline: 95,217 USDT (If broken, the formation is confirmed)

Target Price: 80,846 USDT

If M Formation is Confirmed:

If 95,217 is broken, BTC may first fall to 92,000 USDT and then to the 80,000-82,000 USDT region.

If M Formation is Invalid:

If BTC rises above 98,119 USDT, the formation is canceled and the rise begins.

In this case, 105,000 - 109,500 USDT levels may be the target.

Possibilities:

Down Probability: 65% (If 95,217 is broken, the M formation is completed and the decline begins)

Up Probability: 35% (If 98,119 is broken, the M formation is canceled and the rise begins)

Conclusion:

BTC is currently in a critical area. If the 95,217 level is lost, the decline may accelerate. If this support remains strong and buyers step in, the rise may come. #btc #bitcoin #binance #bnb #short