$BTC A double top formation has become active at the short-term peak. Even if there is a pullback towards 78,350, the pattern will lead to a decline.


The cancel condition is a 4-hour close above 79,555. The decline could continue down to 73,762. If this level is maintained, the upward potential remains.
If it stays below 73,762, the last wave's Fibonacci 0.618 support at 70,165 could act as support. If it holds, a rebound may occur.
If a 4-hour close occurs above 79,555, it will indicate the first high peak according to the last downward wave on the 4-hour chart. This would be a sign that the upward trend will continue further.
Resistance levels of 98,000 - 109,000 - 107,000 can be monitored.
If the decline deepens, the supports to watch are 65,666 - 63,823 - 62,433 - 60,000 levels. A daily close below 60,000 would mean the decline deepens further. This indicates a deep correction has begun.
BTC-2.08%
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