HI!
Bitcoin is currently trading inside a well-defined range, where price action has formed a Head and Shoulders structure within the upper half of the range. The left shoulder, head, and right shoulder are clearly developed, signaling weakening upside momentum after repeated failures near range highs.
Price is now hovering near the range midline/neckline zone. A confirmed breakdown below this level would activate the pattern, opening the door for a move toward the 85,600–86,200 demand zone, which aligns with prior strong accumulation.
As long as the price remains below the right-shoulder high, bearish pressure dominates. However, a strong reclaim back above the head would invalidate the pattern and keep the price rotational within the range.
Bitcoin is currently trading inside a well-defined range, where price action has formed a Head and Shoulders structure within the upper half of the range. The left shoulder, head, and right shoulder are clearly developed, signaling weakening upside momentum after repeated failures near range highs.
Price is now hovering near the range midline/neckline zone. A confirmed breakdown below this level would activate the pattern, opening the door for a move toward the 85,600–86,200 demand zone, which aligns with prior strong accumulation.
As long as the price remains below the right-shoulder high, bearish pressure dominates. However, a strong reclaim back above the head would invalidate the pattern and keep the price rotational within the range.
Trade closed: target reached
The bottom line of the range has been touched
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🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Tiktok: tiktok.com/@melikatrader94?is_from_webapp=1&sender_device=pc
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Tiktok: tiktok.com/@melikatrader94?is_from_webapp=1&sender_device=pc
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.