Hello guys!
Key Observations:
Pattern Formation:
Left Shoulder: Formed earlier around the $97,000 region.
Head: A drop to approximately $96,598.96 (Fibonacci 0.618 retracement level).
Right Shoulder: A potential retest of the $97,800 support area before continuation.
Price Scenarios:
Scenario 1: Bitcoin breaks the current resistance near $103,000 and continues to the target zone at $107,992.11.
Scenario 2: A retest of the $97,800 support region (right shoulder), followed by a bullish breakout to the $107,992.11 target.
Targets:
Major target: $107,992.11 (blue supply zone at the top).
Technical Confirmation:
Price is currently consolidating above the neckline and above key Fibonacci support (0.618 at $96,598.96).
Breaking the $103,000 resistance decisively could validate a strong bullish move.
Conclusion:
If BTC maintains support above $97,800 and breaks above $103,000, there is a higher probability of reaching the $107,992.11 target. Watch for bullish momentum confirmation and avoid downside risk if the right shoulder level fails.
Best Regards, Trade Cryptocurrency
Trade at your own Risk 👍
Stay Tuned for Further Updates.
