BTCUSD Short-Term Outlook : Bearish Reversal Towards $99,000
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Bitcoin hit $102,800, encountering strong resistance, forming a double-top pattern signaling a bearish reversal unless BTC breaks above $103,200.
Technical Levels :
Immediate Resistance : $102,800-$103,200
Support Zones :
$99,000 (key level), $97,500 (next major support)
Trendline Breakdown :
The ascending trendline is weakening, and a confirmed breakdown with rising volume could accelerate a move to $99,000.
Pro Tip for Traders :
Watch for a breakdown confirmation below the trendline and set stop-loss above $103,200 to avoid false breakouts.
Advice to Investors :
Accumulate cautiously near $99,000 for long-term positions. A bounce from this level could trigger a recovery.
Conclusion :
BTCUSD shows a bearish reversal potential, with targets near $99,000 unless resistance at $103,200 is breached. Manage risk carefully.