Technical analysis by AboodAhmed about Symbol BTC on 8/24/2025

🧠 Bitcoin (BTC/USDT) Technical Analysis – 4H Chart ✅ Pattern Formation A classic Head & Shoulders pattern has formed on the chart. Left Shoulder: around $120,000. Head: peak near ~$124,000. Right Shoulder: around $119,000 – $120,000. Neckline: positioned around $112,000 – $113,000 (current price area). This setup is considered a bearish reversal pattern if the neckline is broken with a clear close. 🎯 Target Projections Distance from the Head to the Neckline ≈ $12,000. Measured move target after breakdown = $112,000 – $12,000 = ~$100,000. Key Support Levels: $108,000 – $106,000 (intermediate support). ~$102,100 (major support, aligned with the H&S target). $100,000 (psychological round-number support). 📈 Alternative Bullish Scenario If BTC quickly rebounds from the neckline and reclaims $118,000 – $119,000, the bearish pattern would be invalidated. In that case, price could revisit the $124,000 resistance zone. ⚠️ Disclaimer This analysis is based purely on technical chart patterns and does not represent financial or investment advice. Traders should conduct their own research before making any decisions.