BTC Approaching a Critical Level – What's Next?
2025-01-23
Category: None

#Bitcoin is currently showing signs of weakness as it moves in a well-defined downtrend. A #harmonic pattern is forming on the 4-hour timeframe, accompanied by bearish divergence, signaling potential downside.

Key levels to watch:
1️⃣ Support Zone: $100014.95 (critical for the bears to break).
2️⃣ Resistance Zone: $107571.39 (bulls need to reclaim this to reverse momentum).

Trade Idea:

Bearish Scenario: A confirmed breakdown below the support zone could trigger a short trade opportunity.
Risk Management: Use tight stop-loss levels and aim for a risk-reward ratio of 1:2 or higher.
Bullish Scenario: If bulls defend the support, a bounce toward resistance could provide a countertrend trade opportunity.
Stay vigilant and follow price action for confirmation. Let me know your thoughts in the comments! 

 Do you think #BTC will break the support? 



#BTC, #Crypto, #TradingIdeas, #BearishTrend
