The latest Bitcoin market chart reveals a potential head and shoulders pattern, a formation often linked to bearish reversals in technical analysis. At the time of reporting, Bitcoin is trading at 104,496 USDT, hovering between a key support level at 100,000 USDT and resistance around 112,000 USDT.
Analysts highlight that if the price falls below the 100,000 USDT support, Bitcoin could experience an extended decline. However, traders are closely watching this zone for signs of a possible rebound, which could lead to further consolidation or trend continuation.
Traders now await further price movements to confirm whether Bitcoin will break downward or stage a recovery. Stay tuned for updates as the cryptocurrency landscape continues to evolve. 🚀
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