Bitcoin at a Critical Crossroads: What’s Next?
Let’s analyze Bitcoin’s current price action and what it could mean for the market.
The Double-Top Pattern: A Bearish Signal
A double top is a bearish reversal pattern that forms when the price fails to break resistance twice, creating two peaks at a similar level with a neckline (support) between them. If the neckline breaks, it could signal a deeper pullback.
How to Trade It?
✅ Short Entry – After the neckline breaks (a retest of the neckline strengthens the setup).
✅ Stop-Loss – Placed above the second peak to protect against a fake breakout.
✅ Profit Target – Measure the distance from the peak to the neckline and project it downward from the breakdown point.
Extra Confirmations:
✔ RSI bearish divergence – Indicates weakening momentum.
✔ Rising sell volume – Increases the reliability of the breakdown.
Key Levels to Watch:
📍 Resistance: 100K–102K – Bitcoin must break this zone for bulls to regain control.
📍 Support: 90K – Losing this level could accelerate the downtrend.
📍 Major Support: 84K – A critical decision point for a potential bounce or further decline.
What’s Next?
🔹 Bullish Scenario: If BTC holds above 84K and shows strength, we could see a recovery toward 100K.
🔻 Bearish Scenario: If the double-top pattern plays out and BTC loses 90K, a further drop to 80K–76K could be on the horizon.
💬 What’s your outlook? Will Bitcoin hold strong or continue its decline? Share your thoughts in the comments!
🚀 Stay tuned for more updates!
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