Bitcoin (BTC/USDT) Bearish Breakdown: Support Retest and Potenti
2025-02-07
Category: None

This is a Bitcoin (BTC/USDT) 1-hour chart 

Key Observations:

1. Descending Trendline (Resistance)

A blue downward-sloping trendline indicates a bearish trend. BTC has failed to break above it multiple times, suggesting strong resistance.



2. Support Level

A horizontal blue line marks a key support zone. BTC has tested this level multiple times.



3. Bearish Price Action

A clear M-pattern (double-top formation) is visible, which is a bearish reversal pattern.

After hitting the descending trendline, BTC has dropped sharply.



4. Breakdown Expectation

The red arrow and downward projection suggest a breakdown below support.

If BTC fails to hold support, the next target could be around $94,000 or lower.




Conclusion:

BTC is showing bearish momentum.

A confirmed break below support could trigger further downside.

Bulls need a breakout above the trendline to regain control.