$BTC Price Breakdown Alert – $78,000 Incoming as Head & Shoulders Pattern Confirmed

Bitcoin $BTC is trading with a slight bullish bias at $92,647, but technical analysts are sounding alarms. Crypto chartist Melika Trader has identified a developing head-and-shoulders pattern on BTC’s 4-hour chart, often seen as a prelude to a major reversal.

The structure includes a double-headed top, with the right shoulder now forming.

Melika notes that $BTC could attempt a fake breakout above the $87,000–$88,000 resistance range—sucking in breakout traders—before sharply reversing. If confirmed, this setup projects a potential decline to $78,000, aligning with March’s key support zone.

This is a classic bull trap scenario,” said Melika. “The neckline is holding for now, but momentum is fading.