🚨 Is Bitcoin approaching a bear trap? Or is it a golden opportunity for the greedy? 🐻💰

🔎 On the 4-hour timeframe, a clear head and shoulders pattern appears with a break of the neckline at $116,400, opening the door for a potential drop towards $108,400 📉.

⚡️ General trend: Bearish with the price positioned below EMA(7/25/99).

⚡️ RSI Indicator (39): Existing selling pressure but far from being overbought.

⚡️ Supports: 112,200 ➝ 108,400 ➝ 105,100.

⚡️ Resistances: 116,400 ➝ 117,400 ➝ 120,800.

🎯 Plan: Sell upon retesting the neckline (116.4k–117.4k), with a stop loss above 118.8k, and staggered targets down to 108.4k.

⚡ Invalidating scenario: A strong close above 117.5k may reopen the path towards 120.8k – 124.5k.

❓ In your opinion… Is it a time to fear a collapse or to be greedy for the opportunity before sinking? Share your thoughts with me 👇

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