The technical pattern of the head and shoulders has just been formed Bitcoin price chartindicating that a possible crash may be about to happen. According to a crypto analyst, this classic bearish reversal could form a possibility Triggers sharp callbackswhich may reduce Bitcoin to $95,000 in the short term.
Analysts warn of imminent Bitcoin price crash
Crypto Patel is a technical and fundamental analyst for X (formerly Twitter) release A clear warning about the short-term price outlook for Bitcoin. Despite the recent fresh climax of flagship cryptocurrencies, More than most altcoins on the marketCrypto Patel still believes that BTC may be on the verge of a massive price crash.
His bearish forecasts are concentrated in the emergence of Head and shoulders On the 3-hour Bitcoin price chart – Technology formation is usually considered powerful Trend Reversal Indicators. According to Crypto Patel, the model is already in motion and has triggered a potential malfunction that could drag the BTC price to $95,000 in the upcoming meeting.
At the time of writing, Bitcoin is trading at $105,409, meaning that a possible drop to $95,000 will represent 9.87% of the price crash. Crypto Patel also stressed that this imminent decline depends on: Necklines for head and shouldersCurrently at $103,000. This neckline acts as a key support level, separating the current merger stage from A Possible bearish spiral.
It should be broken by the following Bitcoin Active selling pressure. Crypto Patel’s technical forecast further confirmed that the failure to hold the neckline support area will consolidate the Bitcoin segment into the $95,000 area, marking an 8.74% drop from $103,000 at $103,000.
Bitcoin is OK too Crash or even lower More than the initial $95,000 target. Crypto Patel’s chart highlights the $94,600-$93,600 drop in flagship cryptocurrencies. This area is expected to serve as a lower support area for BTC to prevent further price drops.
Support zones can provide buying immersion opportunities
Although bearish implications and sales pressure may increase, everyone’s eyes are on Strong support area Crypto Patel believes this could spark significant buying interest, below $95,000. Analysts warn that this collapse zone could be a battlefield for short-term bears and long-term bulls.
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If the price drops to that level, analysts point out that it can be used as Strong immersion opportunity For long-term investors, especially those who wait for a more favorable entry point after Bitcoin Recent gains close to $112,000. Given this prospect, market participants are expected to closely monitor the $103,000 neckline as a potential point of failure, supporting the area below $95,000 for the best buying opportunity.
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