#Bitcoin Price Analysis: Is a Major #Liquidation Event Looming?

Bitcoin is at a critical juncture, with market signals suggesting a potential liquidation event that could send shockwaves through the crypto space. In this in-depth analysis, we’ll break down the technical indicators across multiple time frames—weekly, daily, four-hour, and one-hour—to uncover the most likely direction for Bitcoin’s price and what traders should watch for in the coming weeks. Whether you’re a seasoned investor or new to crypto, this guide will equip you with actionable insights to navigate the volatile market.

Understanding Bitcoin’s Current Market Position

Bitcoin has repeatedly tested the $121,000 resistance level, a psychological and technical barrier that has proven formidable. On the weekly time frame, the price action reveals two failed attempts to break above this level, each marked by a shooting star candlestick pattern—a classic reversal signal often seen at market tops after prolonged bullish momentum. These patterns, observed in recent weeks, align with historical price action from September 2024, when Bitcoin began its fifth wave in a broader bullish trend.

The #shooting star patterns were followed by bearish engulfing candles, where the entire body of the prior candle was overtaken by a strong bearish move. This confirmation has historically preceded significant downturns, as seen in a 30% drop to $77,000 earlier this year. Traders who capitalized on that move locked in substantial profits, and similar signals are now emerging, hinting at another potential decline.

Weekly Time Frame: #Bearish #Signals Intensify...

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