🚨 HEAD AND SHOULDERS PATTERN FORMING ON $BTC – IS A REVERSAL IMMINENT? 🚨
Bitcoin is trading near $97,570, showing signs of a Head and Shoulders pattern on the 30-minute chart. This classic bearish formation suggests a potential trend reversal if the neckline at $96,900 is broken.
💡 Key Levels to Watch:
Neckline Support: $96,900 – A breakdown below this could confirm the bearish pattern, targeting $96,000 or lower.
Immediate Resistance: $97,900 – Reclaiming this level could invalidate the pattern and spark a bullish continuation.
🔥 What’s Next? BTC bulls need to defend the neckline to avoid a deeper correction. With increasing volatility, traders should stay cautious and manage risk effectively.
