Bitcoin (BTCUSD) has formed a clear Head & Shoulders pattern on the 8H timeframe, signaling a potential bearish reversal.
Pattern Structure:
Left Shoulder ✅
Head ✅
Right Shoulder ✅
Neckline break confirms weakness 📉
Key Levels:
Neckline resistance around 112,500
Current price hovering near 108,750
Break of BOS (Break of Structure) suggests sellers are in control
Bearish Outlook:
If price sustains below the neckline, we could see a drop toward the 105,000 – 102,000 zone, with further downside possible if momentum accelerates.
Trading Plan:
Watch for retests of the neckline as resistance for possible short opportunities.
Risk management is crucial – avoid chasing moves without confirmation.
This is a technical analysis idea, not financial advice. Always do your own research and manage risk before trading.
Pattern Structure:
Left Shoulder ✅
Head ✅
Right Shoulder ✅
Neckline break confirms weakness 📉
Key Levels:
Neckline resistance around 112,500
Current price hovering near 108,750
Break of BOS (Break of Structure) suggests sellers are in control
Bearish Outlook:
If price sustains below the neckline, we could see a drop toward the 105,000 – 102,000 zone, with further downside possible if momentum accelerates.
Trading Plan:
Watch for retests of the neckline as resistance for possible short opportunities.
Risk management is crucial – avoid chasing moves without confirmation.
This is a technical analysis idea, not financial advice. Always do your own research and manage risk before trading.
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$ FOREX / GOLD / BTC | Real Trades,Real Result | Risk-managed strategiesn &VIP Signal {My Personal Entries} Join Telegram _ Trade smater ||
📬 Join Free Channel:
t.me/profitmagnetpro12
📬 Join Free Channel:
t.me/profitmagnetpro12
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.