BTC1! Altcoins are sacrificing themselves for Bitcoin, like loyal soldiers devoted to their queen. But Bitcoin is like a ruthless queen—feeding off the altcoins without offering them any reward in return. Damn Bitcoin.
An inverse H&S pattern has formed on the 1-hour timeframe, signaling a potential trend reversal. A confirmed breakout with strong volume could push BTC toward its projected target of 86,600.
Key Technical Observations: 1. The CME gap is now filled, which could act as a strong support upon a retest.
2. Neckline resistance near 84,462 is being tested.
3. A successful breakout above this level may initiate a bullish move toward 86,600.
Watch for volume confirmation to validate the breakout. 👍
The latest CME gap between 82,850 - 83,910 is acting as a strong resistance, with BTC remaining in a bearish trend. A failed bullish flag has broken downward, targeting 80,200.
🔻 The breakdown was driven by macroeconomic factors, including new tariffs and a stock market downturn, increasing risk-off sentiment across global markets.
🔻 If 80,200 fails to hold, further downside movement toward lower support levels is likely.
As posted earlier, BTC has officially filled the CME gap today. Eyes now on current support. If that level breaks, next downside target sits around 82,266. Breakdown could trigger further sell pressure, so stay alert. 🤞