Bitcoin News
By Maheen Hernandez
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Bitcoin Price Under Pressure. Bitcoin (BTC) has been consolidating around $110,000 over the past few sessions, following a steep…
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How the Head and Shoulders Pattern Formed. In Dawson’s analysis, the left shoulder of the pattern was formed around $117,000 in September…
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Technical Levels to Watch. The key level that traders are now watching is the neckline — near $110,000 — which acts as a…
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Analysts Warn of Potential Deep Correction. Another crypto analyst echoed Dawson’s warning, saying that Bitcoin historically experiences sharp…
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Why Bitcoin Could Still Rebound Later. Despite the near-term bearish signals, some market observers maintain a cautiously optimistic…
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Market Sentiment Turns Fearful. The latest market sentiment data also reflects growing fear among investors.
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Outlook: Caution Ahead for Bitcoin Traders. For now, the focus remains on whether Bitcoin can hold the $110,000 support level.
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The Bitcoin price continues to face heavy selling pressure as market sentiment turns increasingly bearish.
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Bitcoin (BTC) has been consolidating around $110,000 over the past few sessions, following a steep decline from its recent all-time high of over $126,000.
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Crypto analyst Toby Dawson, who shared his insights on TradingView, believes that the structure of this pattern points toward a possible breakdown.
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In Dawson’s analysis, the left shoulder of the pattern was formed around $117,000 in September when Bitcoin first encountered resistance after an extended rally.
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However, once the price met strong resistance at that level, Bitcoin began to retrace, completing the formation of the right shoulder near the $117,000 mark in late October.
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“The pattern is clear,” Dawson noted. “Bitcoin has completed a textbook head and shoulders structure, and the neckline sits just around $110,000.
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In that scenario, technical projections suggest that Bitcoin could fall between $90,000 and $95,000 in the short term.
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Dawson added that a temporary bounce could still occur before the full breakdown happens. “If Bitcoin retests $117,000 without breaking higher, that would reinforce the bearish…
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