Technical analysis by Mr_Zakrii about Symbol BTC on 5/31/2025

This chart shows a technical analysis of the BTC/USDT (Bitcoin/US Dollar Tether) pair on the 4-hour timeframe using Binance data. Here's a detailed breakdown of the key elements:Current Price:BTC is trading at $103,439.50, down 0.53% on the 4-hour chart.Highlighted Zones (Yellow Boxes):These are likely support and resistance zones:1. Resistance zone near $112,000 – This is the recent high and potential sell zone.2. Support zone around $101,000–102,000 – This could act as the first level of buying interest.3. Stronger support zone between $97,000–99,000 – Key demand area if the price drops further.4. Mid-range zone around $104,000–105,000 – Previous consolidation area which could act as a minor resistance/support flip.Blue Zigzag Line:This illustrates a potential head and shoulders pattern, followed by a projected price movement:A possible bounce from the $101,000 area back toward $105,000.If that fails, a bearish continuation toward the lower support zone near $97,000.Implications:Short-term Bearish Bias: The overall pattern suggests potential further downside unless BTC holds the current support area.Reversal Potential: A successful bounce at current levels could lead to a relief rally.Key Levels to Watch:Break below ~$101,000 could open the way to ~$97,000.Break above ~$105,000–106,000 may indicate a shift back to bullish momentum.Would you like a deeper technical analysis or recommendations based on this setup (e.g., risk/reward, entry/exit ideas)?