#ChristmasMarketAnalysis Bitcoin’s Rally Loses Steam: Reversal Pattern Begins to Take Shape

$BTC

BTC

96,118.22

-0.99%

● Bitcoin hit an all-time high of around $108,390, fueled by strong bullish momentum.

● However, the rally was short-lived as intense selling pressure set in, triggering a rapid drop to $92,500 and erasing some of the recent gains.

● The frequent price fluctuations are likely to form a Head and Shoulders pattern, a bearish pattern that indicates a potential trend reversal and further downside.

● A sharp drop is expected if Bitcoin falls below $91,500.