$BTC As we approach 74,929, buyers are coming in at least as a reaction to the decline. However, I don't like the pattern I see forming. It seems like an inverse head and shoulders might form. A shoulder has already formed, and it looks like an upward move is coming to complete the head and shoulders pattern.

If the support at the head and shoulders breaks when the pattern completes, a deeper decline could occur equal to the depth of the head.
The reaction rally could target 79,000-80,000, but if it cannot stay above the 82,885 peak, a decline could happen again.
If it cannot hold the 74,929 support, the decline will deepen further.
The 71,000-68,000 region could continue to fall toward the Fibonacci support level. This area is an important support level. It is a zone where buyers may come in. When buyers strengthen, a rally could resume.
On the upside, we will monitor resistance levels at 98,000-109,000 and 107,000. If it reaches the 109,000-107,000 zone, that will be a significant resistance.
If it cannot stay above the recent peak of 126,199, there could be another decline.
In deep declines, the 60,000 level is significant.