Bitcoin will go DOWN by H&S Pattern!!!
2024-12-03

Bitcoin ( BINANCE:BTCUSDT )started to rise after  every positive news  over the past days, but then started to  fall again . Did you see the  negative news  that did not come !? 

 Bitcoin  is moving in the  Support zone($95,600-$93,200)  and  Descending channel .

The  rise and fall of Bitcoin over the past 5-6 days  has managed to form an  Head and Shoulders Pattern . (in terms of  Classical Technical Analysis ).

Since  BTC.D% ( CRYPTOCAP:BTC.D ) started to fall from the  Heavy Resistance zone(63.30%-57.10%)  and after  breaking the lower line of the ascending channel , we can confirm that  Bitcoin's dominance  on the crypto market can end for a while. If the cryptocurrency market wants to have a  correction , Bitcoin can experience a further correction. If the crypto market wants to experience an increase again, we can say that we have entered the  Altseason .👇

I expect  Bitcoin  to fill the  CME Gap($93,835-$93,720)   AFTER  breaking the Head and Shoulders Pattern's  Neckline  and  Support zone($95,600-$93,200)  and then  decline  to at least the  H&S pattern's target(around $91,000) .

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 ⚠️Note: If Bitcoin goes above $96,800, we can expect Bitcoin to rise again to the resistance lines.⚠️ 

Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.

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