🔑 Bitcoin Double Top Pattern : Key Levels to Watch

Overview :

Bitcoin (BTC) is showing signs of a double-top formation, a critical pattern indicating potential price reversal if resistance holds. Current market behavior is less volatile but hinges on key levels and news sentiment.

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Key Levels :

Resistance : $87,000 (Double-top neckline).

Support :
$77,000 (Potential CME gap fill).
$70,000 (Major psychological support).

Scenario Analysis :
Bullish Breakout : If BTC breaks above $87K, it may resume its upward trajectory, targeting new all-time highs.

Bearish Breakdown : Failure to surpass $87K, coupled with negative news, may lead to a retracement toward $77K or lower.

Pro Tip :
Monitor news and market sentiment closely, as external factors can heavily influence price action.
Avoid over-leveraging; maintain a tight stop-loss below $77K if entering long positions.

Conclusion :
BTC's next move depends on its ability to break through $87K. Traders should exercise caution and align strategies with broader market trends while preparing for both bullish and bearish scenarios. Always DYOR!