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Bitcoin Price Nears Critical Support After Reversal Pattern Sparks Bearish Mood
Bitcoin is testing key support levels after forming a potential reversal pattern on its 4-hour chart. Recent price action shows a clear head-and-shoulders structure, a classic signal that selling pressure may increase. The cryptocurrency has already slipped toward the $113,500 region, which now acts as the first major line of defense. Bitcoin recently completed an extended rally that began with an inverse head-and-shoulders pattern in late August. That formation propelled the price beyond $110,500 and into the $117,000 to $118,000 range. A strong ascending trendline provided steady support, enabling the market to ... (full story)
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