Will Bitcoin fall again? Bearish pattern detected.

In the context of the ongoing trade war, Bitcoin (BTC), the largest cryptocurrency in the world by market capitalization, is preparing for a significant bearish move due to its declining price action. In recent days, BTC has seemingly been consolidating within a narrow range. However, upon closer inspection, it appears to have formed a head and shoulders pattern on the four-hour timeframe. Current price momentum It seems that the market is not reacting to any positive news. Previously, after the bold statement by Finance Minister Scott Bessent, BTC along with major assets began to recover, but the momentum subsequently weakened and all profits were lost. Currently, BTC is trading near $82,500 and has recorded a bearish decline of more than 1.10% in the past 24 hours. During the same period, its trading volume has decreased by 50%, indicating lower participation from traders and investors due to significant market volatility. Technical analysis of Bitcoin (BTC) and upcoming levels According to the technical analysis of the expert, with the recent price fall, BTC is heading towards the neckline of the bearish head and shoulders pattern.

Based on recent price movements and historical patterns, if this upward momentum continues and BTC breaks the neckline at $81,500, it is very likely that the price will fall 4% to reach $78,200 in the near future. As of now, this asset is trading below the (EMA) 200 exponential moving average on both the daily and four-hour timeframes, indicating a strong bearish trend and weak momentum. Traders often wait for the price to rise to short assets, which explains the recent price increase and the subsequent drop within less than 24 hours. 175 million dollars flowed out of BTC Despite the bearish outlook, investors and long-term holders appear to be accumulating assets, according to a report from blockchain analytics firm Coinglass.

Data from on-chain inflow/outflow shows that exchanges have witnessed outflows worth approximately 175 million USD in BTC over the past 24 hours. Such outflows in the context of bearish market sentiment indicate the potential for accumulation. While this may create buying pressure and trigger a price increase, it often occurs during a bullish trend.